Top 10 traits of successful entrepreneurs

The heart-warming thing about today’s globalized marketplace, facilitated largely by technology, is how much more level the entrepreneurial playing field has become. To be a successful businessperson, you don’t need to have come from a well-off family, hang out in the right circles, or graduate from a fancy university. Although some of these things will certainly help, the critical elements are within you: your mindset, outlook, and traits (learned or inherited).

Many successful entrepreneurs, like Alan Sugar, Oprah Winfrey and Richard Branson, came from humble beginnings. They weren’t born with opportunities placed on their lap. They got to where they are now through true grit, passion, and steadfast determination.

However, entrepreneurship is clearly not for everyone. There can be a great deal of sacrifice and, often, many storms to weather… long hours, sleepless nights, challenge after challenge to tackle. Heck, maybe you know you thrive off routine, like to clock off at 5pm each day, and find comfort in a regular paycheck – well, there’s nothing wrong with that either. The key is in finding what works for you.

So, are you wondering if you have what it takes to be a successful entrepreneur? Would you like some confirmation that this lifestyle is for you? Here are 10 ways we’d describe a powerful business mogul’s personality, in a nutshell:

1. Passionate

The most successful entrepreneurs are in it for the love, not just the money. They’re so passionate about the idea or solution they’ve created that they’re happy to work relentlessly on making it happen. It’s that unshakeable sense of purpose that stops them from quitting when things get really tough.

2. Motivated and determined

An unwavering motivation to get out of bed every day and work tirelessly towards your goal is a huge part of the recipe for business success. Entrepreneurs are dedicated and don’t need external motivation to keep them moving towards their goals. In fact, they use their energy and momentum to inspire others to work harder, and this commitment is what makes wild dreams become a reality.

3. Visionaries

Would you call yourself an innovator? Are you always on the lookout for new ideas or opportunities? True entrepreneurs see things differently; they see abundant potential in every situation. Their minds are full of visions, ideas, and inspiration just waiting to be put into action. They have a clear picture of their business’ purpose, goals, and mission in mind.

4. Optimists

Successful entrepreneurs are the kind of people who see sunshine in every situation. They keep going through those early struggles despite feeling that their idea might never get off the ground. Their minds are just wired that way – always seeing the silver lining or golden opportunity ahead.

An optimist sees an opportunity in every calamity; a pessimist sees a calamity in every opportunity.

Winston Churchill

5. Communicators

Communication skills are pivotal for an entrepreneur. They come in handy for networking, selling, collaborating, and even rallying the troops during team meetings. As a leader, you have to be able to promote yourself and your business to customers, suppliers, and staff. Everyone must be fully on board with your mission or the results you crave will never come.

6. Creative and adaptable

This one’s all about problem solving and flexibility. The ability to be open-minded and inquisitive when it comes to finding solutions is critical. This means looking at an issue from all angles, constantly digesting new information and then pivoting or adjusting your strategy accordingly. Savvy businessmen and women aren’t afraid to change tact or reflect on their blind spots.

7. Confident and decisive

Successful entrepreneurs are making decisions numerous times each day. They take charge of any situation they’re faced with, maintaining belief in their abilities throughout all of the ups and downs. They don’t let doubt overcome them and they know they are inherently worthy of success.

8. Continuous learners

Entrepreneurs repeatedly fail – it’s part of the game. However, the winners always get back up. It’s important to be able to dust yourself off and try again with an attitude of continuous improvement. Successful entrepreneurs stay ahead of the game by keeping up with industry news, watching competitor behavior, upskilling, and networking with like-minded people. They are sponges for information that will help grow their business.

9. Risk-takers

There’s no avoiding risk-taking when you’re a fully-fledged entrepreneur. The factor that sorts the wheat from the chaff here is a person’s attitude towards risk… does taking risks scare you or are you able to take those leaps? Uncertainty should not be enough to prevent you from taking action – after all, you might just be treated to the reward!

Few first ventures work out. It is how a beginning entrepreneur deals with failure that sets that person apart. In fact, failure is one of the secrets to success, since some of the best ideas arise from the ashes of a shuttered business.

Richard Branson

10. Gritty

When you combine passion and perseverance, what do you get? Grit. Angela Duckworth made this word famous when she released her book on the subject in 2016.

Why do naturally talented people frequently fail to reach their potential while other far less gifted individuals go on to achieve amazing things? The secret to outstanding achievement is not talent, but a passionate persistence. In other words, grit.

Angela Duckworth

The way Angela (and many others) see it; passionate persistence is the true game-changer when it comes to success.

Of course, there are countless other factors that make the entrepreneurial journey just that little bit easier, like having a sense of humor, humility, and an awareness that it doesn’t always pay to be the smartest person in the room.

Many of the personality traits we’ve discussed can be learned or honed over time but it’s handy to have a few up your sleeve to start off with. If you’re about to embark on your own entrepreneurial journey, we hope you can leverage some of what we’ve shared and apply it to your own business.

Here’s to your success!

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