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Sheldan Brix B. Ramirez

CHARACTER TRAITS COMMON TO SUCCESSFUL ENTREPRENEURS

CREATIVITY (ELON MUSK)

-Elon Musk just announced his latest idea that will be capable of taking people from any other city in under one hour.

Musk Creative thinking technique called "first principle". Musk used his first principle thinking in deciding to launch his company SpaceX

He said "I tend to approach things from a physics framework and physics teaches you to reason from the first principles rather than by analogy. So I said, Ok, let's look at the first principles. What is a rocket made of? Aerospace - grade aluminium alloys, plus some titanium, copper, and carbon fiber and then I asked what is the value of those materials on the commodity market? It turned out that the materials cost of a rocket was around 2 percent of the typical price which is a crazy ratio for a large mechanical product. "

Risk - Taking (Mark Zuckerberg)

- Back of in 2004 when Marck Zuckerberg was still creating the Facebook. Zuckerberg have a piece of advice that will always stay with him from Peter Thiel. "In a world that's changing so quickly, the biggest risk that you can take is not taking any risk".

If you want to start a business you need to be comfortable with taking risk. While two-thirds of business with employee survives at least 2 years, according to the U.S Small Business Administration, only half survive at least 5 years. The act of opening a business itself is a risk.

Entrepreneurs must:

-Look at decisions from a reward perspective, not from a risk perspective.

-Think outside the box to create solutions.

-View challenges optimistically: as opportunities, not problems.

-Set goals and have a vision for what they want to accomplish.

Planning (Bill Gates)

-Planning to improve the world on how innovation is the key to a brighter future.

"I believe that every life is valuable. That we can make things better. That innovation is the key to a bright future. Not all innovation is the same. We want to give our wealth back to our society in a way that has the most impact, and so we look for opportunities to invest for the largest returns. That means tackling the world's biggest problems and funding the most likely solutions.

"I don't have a magic formula for prioritizing the world's problems. But you could make a good case for poverty, disease, hunger, war, poor education, bad governance, political instability, weak trade, or mistreatment of woman".

Knowledge (Steve Jobs)

-"Technology is nothing. What's important is that you have faith in people, that they're basically good and smart and if you give them tools, they'll do wonderful things with them".

Jobs believed that in order to achieve great success and create revolutionary changes in the world, we must learn to prioritize the intersection of technology and the humanities, because that's how the best ideas emerge.

Social Skills (Jack Ma)

-Jack Ma helps him build loyalty and strong foundation on which his business Alibaba grows.

Ma convince every single employee, business partner and investor to trust him or to listen to him no matter how hard he tries. Accepting this and changing the approach is another quality and skills of his success. He unites them under a common goal rather than uniting them under his own supervision as a company goal rather than a leader's goal.