The 6 Traits of Successful Business Leaders

Every business owner has their own set of challenges. However, an Ernst and Young study of over 200 global leader enterprises identified six fundamentals for any business to succeed and these included:

1. Managing risk;
2. Transactions and alliances;
3. Operational effectiveness;
4. Managing finance;
5. Customer recruitment;
6. People recruitment and retention.

The Sydney Morning Herald reports that many successful business are founded by second-time-around entrepreneurs. It doesn't seem to matter whether the first business venture was successful or not. The fire to succeed and passion for their chosen industry is what drives entrepreneurs to be successful.

Find out more about the Ernst and Young Entrepreneur of The Year 2007 winners.