An Entrepreneur is a person who takes a high financial risk in order to initiate a new business. There are many dreamers all over the world that has hope to get their business accomplished someday. They blindly follow the successful big-shot entrepreneurs in the world, wanting to live a luxurious life as them. But, according to researches, 90% of startups tend to fail due to various reasons.

If you too once failed or are worried whether you're heading on the correct path, these common characteristics of many successful Entrepreneurs may help you in evaluating yourself and correcting your steps.

A successful business always begins with passion. If you have a particular dream of what you're going to begin, and if you are mature enough to take it seriously, that is the start. Never take business ideas which various other people offer that you have no interest in. They may point out and tempt you with their lucrative benefits but it should always come within yourself. Think that you are investing a load of your money and time on a risky deal, so always make sure is it what you are really passionate about, and make sure you are mature enough to accept any consequences of it. The more aware you are about your business, the more support you tend to give to make it better.

Everything in life happens according to a plan, so does everything in a business. A proper business plan requires analyzing business situations, researching and compiling data. Having a business plan regarding the entire workflow of your business helps you to keep track of achievements step by step. Most startups tend to fail due to the lack of a proper, strategic business plan. In case of a profit reduction or in other issues, not having a plan B is not affordable. With a clear idea of what your next step will be, you can easily tackle any obstacle that heads your way.

Cash is the fuel for business. Without money your business has to halt or it might have to completely stop. Many Entrepreneurs fail due to the lack of proper money management. There is a common cycle of money in a business, which is the income that's received from the client and the expenses on invention supplies for your business, wages and other overheads. A good Entrepreneur should be able to manage that cycle wisely, keep the business running and receive its profits as well. An Entrepreneur should also be capable of loaning the business money if it's income is not sufficient to keep the business afloat.

A business wide-spreads among people thanks to to various marketing strategies. Promoting yourself is one of the best. Your target audience wouldn't know you enough to purchase your product with confidence. Always remember you are a starter, not an established businessman. People should be able to trust you and know your story in order to support you in raising you business ahead. Try to promote yourself by attending influential gatherings, and using many other marketing methods to self promote.

Your customers are the bridge that directs you towards success. Without customers you won't have a business to run. Always make sure first preference goes to your clients and potential customers. To give the customer first place you should properly study who your prospective clients are. Understand the community that you are targeting, and advertise your product accordingly. Give your loyal customers special discounts and offerings. Try to lure new customers with attractive packages and specials. Always concentrate on how to keep a customer loyal to your business. The more customers you have, the quicker your business develops.

The reputation is the judging factor of a person, company or a business. As we all know, building a positive reputation is hard, but getting it destroyed is easy. Reputation is brittle when it comes to a startup. If it's ruined you may not have the proper financial nor influential support to mend it back. So as an Entrepreneur, you should be careful when dealing with customers. Always check that the quality of your products have the same consistency for every customer equally. Customer trust builds up a positive reputation for your company. Always remember to honor guarantees and promises. If your clients have no trust in you, your business is only losing reputation.

Neatness always leads towards success. We all hate to look at a disorganized table or a room, finding something in a mess isn't very easy and no one enjoys doing it. The same applies to your business. If you are a disorganized person or you tend to lose customer records and other product based information due to your lack of organization, it is time to step out of this old devilish habit. Your regular work will be much more easier and neat if you start organizing your whole life and your business. If you suddenly misplace any of your work information, finding it wouldn't be difficult as finding a pen on a messy table. Always try to stay organized when it comes to your business and deals.

Hope makes everything possible. Every entrepreneur starts a business having hope for success. Having hope may not directly cause your success, but it definitely gives you strength to try harder which indirectly may lead you to success. There will always be a group of people who will be against your ideas no matter what. Take their negative feedback only to make your business better, not to change it or dump it. Try to be positive and optimistic when looking into issues. Always keep in mind that there might be a chance of failing, and try your best to avoid it with positivity.

-Coco Chanel.