Entrepreneurs
10 Common Characteristics of Successful Entrepreneurs
No matter if you are a self-employed individual or apart of a team, there are always a few defining points to becoming successful.
More often than not, successful entrepreneurs will share similar characteristics, regardless of their trade or their role. While you might think there are a few secrets to becoming successful, you will find that the facts that successful people are actually more common than you think.
Here are 10 common characteristics of successful entrepreneurs:
1. Properly managing your money
It will take time to become profitable and while you are striving for financial success, any money you utilize should be closely monitored. Remember that your capital is limited and you should ensure that every penny is used wisely. Keep track of your spending and stick to your allocated budget. Proper money management will help prevent financial mistakes as well as ensure you keep (or wisely spend) any profits made.
2. Planning ahead
Creating a business plan will help you maintain an active list of goals and achievements. Not only that, business planning will help ensure that you build healthy habits that you will develop, implement, as well as maintain along the way. With the assistance of a proper business plan, you can easily highlight your goals and how you will reach them.
“To any entrepreneur: if you want to do it, do it now. If you don’t, you’re going to regret it.” – Catherine Cook
3. Learning to adapt and be flexible
While it is a great trait to be passionate and even stubborn about something you are working hard for, the lack of flexibility will hinder you in the long run. Successful entrepreneurs need to learn how to adapt and be flexible for the current market trends.
4. Taking risks
Entrepreneurs are often times considered to be risk takers. Yet, not every risk taker is considered a successful entrepreneur. The difference is simple – know when to take a risk and what the risks involve. Ask yourself is this risk worth my time, my money, or the cost of my career? You should also ask yourself what you will do if a certain venture does not pay off.
5. Get to know your customers
Getting to know your customer on a personal level is one of the most competitive aspects you can offer your clients as well as the market. People are always looking to make a connection and if you can provide this service you will not only stand out, but will also create a long lasting client base.
6. Stay organized
Organization is key. Lacking proper organizational skills will leave you cleaning up unnecessary messes. Keep track of your daily tasks in one place, whether it is a calendar or journal and make sure that you keep a close eye on what happens each day. Staying organized is absolutely necessary to run and manage a successful business.
7. Create relationships by networking
One of the greatest aspects of running a business is learning how to network. Meeting people and getting to know those in your community or reaching out to mentors can only help you improve within yourself and therefore your business. Besides, putting yourself out there will help others remember who you are and if you can create positive business relationships, you will find that your business will thrive.
8. Do what you love
When you are passionate about your business, you will be motivated to keep moving forward to meeting your goals. When you do something you love to do, work will not seem mundane. In fact, you will find that day in and day out, you are enjoying what you do and that alone makes all the difference. Make sure you love what you do and working hard will not seem like hardly working at all.
“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” – Steve Jobs
9. Understand what you offer
One common factor amongst all entrepreneurs is this: they know their product inside and out. In addition, those successful individuals are also very familiar with the market dynamics. Remaining aware of market trends, changing market needs, your competitors movements, as well as other external factors will only help you remain in that successful side of the market.
10. Be prepared and know when to take your exit
Unfortunately, not every attempt you make will end in success. The defining point of successful entrepreneurs is to know when to take a graceful exit and how you can learn and grow from that experience. Several famous entrepreneurs have had their failures but they have also had the foresight as well as the serenity to know when they should cut their losses.
Which one of these do you need to focus more on? Please leave your thoughts in the comment section below!
Entrepreneurs
How Lucy Guo Built a Billion-Dollar Tech Empire By Breaking All the Rules
At an age when most people are just trying to figure out their career path, Lucy Guo unseated Taylor Swift as the world’s youngest self-made female billionaire.
She co-founded Scale AI (recently valued at a staggering $25 billion), launched the creator monetization platform Passes, and became a relentless angel investor with a portfolio of over 100 companies. But her path wasn’t paved with perfect grades and safe corporate ladders. It was paved with rebellion.
Guo got suspended in kindergarten for telling the teacher the curriculum was dumb. She dropped out of Carnegie Mellon University with only four classes left to graduate. She walked away from millions of dollars in unvested equity at Snapchat. Every time society told her to play it safe, she did the exact opposite.
If you want to scale a massive business and operate at the top 1% of the tech world, here is the unfiltered playbook from one of the most prolific founders of our generation.
1. Optimize for Learning Over Stability
Most people make career decisions based on risk and salary. Guo makes decisions based on a single metric: Am I maximizing my learning?
When she was a year away from graduating with a computer science degree from Carnegie Mellon, she realized she was learning more practical skills at weekend hackathons than in the classroom. So, she dropped out to dive headfirst into the startup world. Everyone—her parents, her friends, even strangers—called her an idiot.
Later, she walked away from a highly lucrative position at Snapchat to build her own company. To the outside world, these look like massive, irresponsible risks. To Guo, the math was simple: if a decision guarantees you will acquire highly valuable new knowledge, it is not a risk. Your knowledge will always be worth money.
2. The “Three-Task” Founder Routine
It is incredibly easy for founders to get distracted by busywork. Guo subscribes to the famous Y Combinator philosophy that a founder should only be doing three things:
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Working out
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Talking to customers
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Building the product
Her daily routine is brutally efficient. She wakes up at 5:30 AM, rolls out of bed, and immediately goes to a grueling fitness class. She bought her house specifically because it was a 5-minute walk from the gym and a 5-minute walk from the office, entirely eliminating her commute.
By refusing to sit still—cutting out TikTok scrolling, TV, and aimless internet browsing—she funnels all of her energy into execution. Working out tests your discipline; if you can force yourself to train when you feel terrible, you will have the energy to dominate your industry for the rest of the day.
3. Ship at 90% (The Innovation Rule)
When Guo worked at Snapchat, she learned a massive lesson from CEO Evan Spiegel about product development: stop agonizing over user research and just get the product into the wild.
If you spend three years going back and forth on a design trying to make it perfect, you will lose. The market moves too fast, and frankly, consumers rarely know what they actually want until they can touch it.
The rule is simple: Get it to 90% and ship it. Spend two weeks designing it, launch it, and see if it gets traction. People will eagerly use a buggy product with a terrible user interface if it actually solves their problem. If it gets traction, double down and fix the bugs. If it falls flat, you only wasted two weeks instead of two years.
4. Never Outgrow the “Grunt Work”
As companies scale, many founders retreat to their corner offices and stop doing Individual Contributor (IC) work. Guo believes this is a fatal leadership flaw.
You cannot effectively judge your team’s performance if you refuse to do the job yourself. When Scale AI landed a massive new pilot customer, Guo didn’t just delegate the work—she sat in the war room alongside her engineers, manually labeling data to ensure it was perfect. If a creator finds a bug at 2:00 AM on Passes, she and her team are awake fixing it.
As a leader, nothing is below you. If you aren’t willing to jump into the trenches and handle customer support tickets yourself, you have no right to critique how your reps are handling them.
5. Hire for Grit Over Pure Genius
When building a team, pure intelligence is heavily overrated if it isn’t backed by relentless hard work.
You can hire the smartest engineer on the planet, but if they refuse to put in the effort when things get difficult, they will have zero impact on the company. Guo explicitly hires for grit. Startup culture requires a 24/7 mentality. You don’t necessarily have to work every weekend, but when the building is on fire, the team needs to know you will show up and grab a bucket.
6. Stop Complaining and Start Cheerleading
When asked what advice she would give her 20-year-old self, Guo’s answer had nothing to do with code, venture capital, or marketing.
“I would stop complaining about some of the people I work with and just start really getting to know them better and uplifting them.”
Toxic, gossipy work environments drive away top talent. The most profitable and innovative companies are built in positive environments where the leader acts as the ultimate cheerleader.
Surround yourself with wildly positive people, focus intensely on the upside, and relentlessly uplift the people building your vision. When you protect your energy and support your team, the financial success becomes a natural byproduct.
Here’s a great interview with Lucy Guo:
Entrepreneurs
Peak Performance Psychology: Secrets from the Real-Life “Wendy Rhoades”
If you have watched the hit TV show Billions, you know the character Dr. Wendy Rhoades. She is the brilliant in-house performance psychologist who helps ultra-wealthy hedge fund managers and cutthroat founders unlock extreme performance, navigate crises, and destroy their mental blocks.
But Wendy Rhoades isn’t just a fictional character trope. The Wall Street Journal recently compared the fictional Wendy to a very real person: Dr. Julie Gurner.
Dr. Gurner is one of the most sought-after executive performance coaches in the country. With a background in adult psychopathology and forensics—including a stint working in a Supermax prison—she now spends her days in the trenches with CEOs, billionaire founders, and elite operators. She helps the top 0.01% reach the next level psychologically.
In a recent interview, Dr. Gurner shared the exact traits, mindsets, and peak performance psychology strategies that separate the ultra-successful from everyone else. Here is how you can apply them to your own life.
1. The Defining Trait of the Top 0.01%: Audacity
When looking at the ultra-successful, one trait stands out above the rest: Audacity.
Audacity is the refusal to follow the “imaginary rules” that govern most people’s lives. Society teaches us certain boundaries: you cannot apply for that job unless you have exactly five years of experience, a small startup cannot pitch a major bank, or you do not belong in certain rooms because of your background.
According to Dr. Gurner, the top 0.01% operate with an almost complete unawareness of these artificial limits.
“They don’t follow the rules that everyone else seems to follow that are actually very artificial,” Gurner explains. “That audacity to go for these larger things… is really how they skip steps that everyone else is still trudging through. We’re all going on the crowded path, and they just find this little dirt road to get to outcomes we are eight years away from.”
How to Apply It: Adopt the disposition of “What if it goes right?” instead of “What if it goes wrong?” We chronically overestimate the true risk of failure. In reality, most failures are temporary and quickly forgotten by the public. Take the side path. Shoot the uncomfortably large shot.
2. The Repetitive Reflex: Stop Trying to Fix Your Weaknesses
There is a common misconception (the halo effect) that high performers are exceptional at everything. In reality, they are usually only great at one or two things—but they lean into those strengths relentlessly.
Dr. Gurner points to Elon Musk as a public example. Musk is a visionary company builder and resource gatherer, but he famously relies on operators like Gwynne Shotwell at SpaceX to handle the granular day-to-day operations, NASA contracts, and internal management.
“If you start as above-average on something and put force behind it, the separation between you and everyone else is dramatic,” Gurner notes. “But if you focus all your time on the things you are below average at, maybe you’ll bring them up to average. That’s not where you get escape velocity.”
How to Apply It: Identify your unique, outlier strengths. Double down on them. Stop judging yourself for the things you are bad at, and either delegate them, outsource them, or partner with someone who thrives in those areas (the “spreadsheet person”).
3. Stop Suppressing Negative Emotion: Use It as Fuel
The modern wellness world is currently obsessed with stoicism—the idea that you should remain perfectly tempered, suppress extreme emotions, and remain unaffected by the world.
Dr. Gurner pushes back hard against this, arguing that suppressing intense emotion is a massive waste of energy.
“If you have anger or rage, why would you suppress that?” she asks. “You are killing a source of energy that you could channel into something absolutely phenomenal. There are so many wonderful companies and careers built on spite, anger, and ‘I’m going to show you’ energy.”
Humans are meant to experience a full spectrum of emotions. If you have been wronged, you can choose to let that anger destroy you, or you can use it to work 80-hour weeks, build an empire, and make your life phenomenal.
How to Apply It: Do not let negative emotions turn you into a toxic person to those around you, but absolutely use the internal fire of a perceived slight or past failure to fuel your daily actions.
4. Be Quirky, Not Humble
If you want to reach the highest levels of success, “be humble” is often terrible advice.
Humility is frequently confused with modesty or self-deprecation. If you constantly devalue your contributions, the people who desperately need your specific skills will never find you. Knowing what you are great at, and proudly sharing it with the world, does not make you arrogant—it makes you useful.
Furthermore, do not sand down your edges to fit into a corporate mold.
“Everyone is pushing toward conformity, and it is the wrong path,” Gurner says. “If you push to fit in with everyone else, and then you’re mad that your outcomes aren’t different, there’s a reason for that. We remember people because of their quirks.”
How to Apply It: Own what you are great at loudly. Lean into your strange hobbies and unique personality traits. The friction of your “weirdness” is exactly what makes you memorable and separates you from the conformist pack.
5. Reframe Obstacles as Challenges
At the end of the day, Dr. Gurner says her main job as a psychologist is simply to help high-achievers get out of their own way. We all know what the optimal decisions in our lives are, but we invent excuses and barriers to avoid doing the hard work.
The simplest, most scalable tool to fix this is reframing.
“How you frame everything is how you approach it,” Gurner explains. “When you see an obstacle or a problem, reframe it into a challenge. Think, ‘How could I productively think about this that is equally true?’ We get so tunneled in that we don’t see other ways of thinking about the same challenge that could get us amped up to tackle it.”
The Bottom Line: Don’t Ignore the Haunting Agitation
Many people walk around with “haunting agitation”—a nagging voice whispering that they could be doing more, living bigger, and fulfilling a dream they abandoned long ago.
Do not let that whisper become a scream of regret later in life.
The difference between those who achieve outlier success and those who don’t is simply a willingness to make sacrifices. Map out the life you want, figure out exactly what it costs (both financially and in terms of effort), and have the audacity to go get it.
Checkout this incredible interview with Dr Julie Gurner
Entrepreneurs
How to Scale Your Business Like a Billion-Dollar CEO: Lessons from Sharran Srivatsaa
The following article is synthesized from a powerhouse interview with Sharran Srivatsaa, CEO of Acquisition.com (alongside Alex and Leila Hormozi), who has scaled two companies to over $8 billion and achieved five massive exits.
Most of us are taught that the way to make more money is to do more things. Add a service. Open a new channel. Launch the second product. It feels productive. It’s usually the opposite.
Sharran Srivatsaa has built two companies past the billion-dollar mark and walked away from five exits, and he’s now CEO of Acquisition.com alongside Alex and Leila Hormozi. His take is blunt: to do great things, you have to do fewer things.
He has a name for why smart founders get this wrong. He calls it the curse of capability. Because you’re sharp and you can handle complexity, you accidentally build a complex business. You become the only one who understands how it all fits together. Meanwhile the investors who actually write checks are looking for the opposite. They want the “lazy” founder, the one who built something simple and repeatable that prints money without needing a genius babysitting it every day.
Here’s how he says you get there.
1. Get your 1-1-1 working before anything else
Before you try to be everywhere, look at your business as three things. Traffic, which is how you fill the funnel. Systems, which is how you turn those leads into cash. And skills, which is how you actually deliver the thing.
Most people break their business by adding to all three at once. Sharran’s fix is the 1-1-1: one traffic source, one way to convert, one way to deliver.
Pick a single channel to get leads, whether that’s paid ads or SEO or cold email. Pick one mechanism to close them, like a one-on-one call. And fulfill the work in one standardized way. That’s it. He says a clean 1-1-1 pipeline can realistically carry a business to around $300k pretty fast.
The discipline is in what you don’t do. No second traffic source, no new product line, nothing until the first pipeline is genuinely bulletproof.
2. Build it to sell, even if you’ll never sell it
There’s a difference between a successful business and a sellable one, and it’s easy to miss. A successful business can lean entirely on you. A sellable one runs fine when you’re gone.
Sharran’s advice is to build it as if you’re selling tomorrow, even if your plan is to run it forever. And he’s got a clever way to figure out what to build next.
Find three to five companies that might one day buy you. Package up your numbers and quietly “soft shop” the business to them. Whatever valuation they throw out, say $50 million, ask them the real question: what would it take to make this worth $75 million? They’ll hand you a list. Missing systems, unproven markets, gaps in the team.
That list is your business plan for the year. Instead of guessing what the market wants, you let the people who’d actually pay for it tell you straight.
3. No memo, no meeting
When a company’s small, you can run it on Slack messages and whoever’s loudest in the room. That stops scaling pretty quickly. Things get misheard, decisions get made on vibes, and meetings multiply.
Sharran pushes a “write a memo” culture instead. Before any big decision or exec meeting, somebody writes it up first. And a good memo has four parts: the story so far, so anyone reading has context; the actual issue you’re solving; the risk, meaning what breaks or what it costs if you go ahead; and the recommendation with clear next steps.
The rule is simple. No memo, no meeting. It sounds rigid but it does two things. It forces people to actually think before they talk, and it quietly kills half your pointless meetings.
4. Hire for pain, keep them with phantom equity
The reason most founders can’t find A-players is that they write the same boring job post as everyone else. Think about what’s actually keeping you up at night, or the department you dream about building. Write those raw thoughts down, mess and all, and let an AI tool shape them into a job description. When the right person reads a hyper-specific breakdown of the exact problem they know how to solve, it feels like the role was written for them. Because it was.
Then you have to keep them. If you can’t match a big salary and you don’t want to start handing out real shares and dealing with the legal headache, there’s phantom equity. It works like a bonus tied to what the company’s worth. If you sell, they get a cut of the exit. No actual shares change hands, no tax mess today, and the person stays locked in and motivated to grow the thing, because their upside is your upside.
5. Freeze your lifestyle and buy yourself options
This is the trap almost everyone falls into. Revenue goes up, so the lifestyle goes up right alongside it. You make $500k and quietly build a life that costs $300k to run. Now you’re stuck. You can’t step back, can’t take a swing, because you need the cash flow just to keep the lights on at home.
The move is to freeze it. Figure out your real monthly baseline and refuse to inflate it for ten years. When your personal overhead stays low, you get the thing every founder actually wants, which is optionality. You can afford the $200k hire. You can afford to pivot. You can take the big calculated risk because losing wouldn’t sink you.
That, more than anything, is the line between the capable founder and the scalable one. The capable one adds services, texts constantly, guesses at the market, and spends more as they earn more. The scalable one simplifies, writes things down, asks buyers what creates value, and keeps their life small on purpose.
The part that matters most
It’s worth remembering where Sharran started. He got mugged on his first day in America and was dumpster-diving for food in college, and somehow that became billions in enterprise value and five exits.
Strip away every framework and one thing is doing most of the work: he didn’t quit. Through the bad deals and the failed pivots and the stretches of real self-doubt, he stayed in. Build simple systems, guard your time, ask for help when you need it, and stay in the game long enough for the work to compound. That last part isn’t glamorous, but it’s the whole thing.
Watch the full interview on The Anatomy of A Dream:
Change Your Mindset
The 100-Hour Workweek Is a Scam
Let me say the thing nobody posting at 5 AM wants to hear.
Working 100 hours a week is not a flex. It’s a symptom. And if your calendar is full but your bank account hasn’t moved in a year, you don’t have a work-ethic problem. You have a leverage problem.
We’ve all seen the posts. The founder sleeping on the office floor. The “rise and grind” guy answering emails until his eyes bleed. Somewhere along the way we decided that whoever suffers the most deserves to win. It’s a nice story. It’s also wrong.
Look at the people actually running eight-figure companies who still make it to their kid’s game on a Tuesday. They are not outworking you. That’s the part that stings. They’ve just stopped confusing motion with progress.
Here’s how they actually do it.
Leverage beats hours, every time
Amateurs count how long they sat at the laptop. That’s the whole metric. Hours in the chair.
But hours aren’t the point. Output per hour is the point.
Say you spend four hours making a graphic for Instagram and it gets 200 likes. Cool. That four hours is gone forever, and you’ll do it again tomorrow. Now say you spend those same four hours writing a process doc that teaches a contractor to make every graphic for the next three years. Same four hours. Wildly different return.
The people winning are quietly obsessed with one question: how do I make this not require me anymore? They look at their task list and hunt for things to hand off or kill. Not because they’re lazy. Because they’re protecting the few hours that only they can do.
You need three good hours, not twelve mediocre ones
Your brain can’t do hard, original thinking for ten hours straight. It just can’t. Nobody’s can. So stop pretending the 12-hour day is productive when most of it is you re-reading the same paragraph and checking Slack.
What you need is a window. Three, maybe four hours where the work is actually deep.
That means the phone is in another room. Not face-down. Not on silent. In another room. It means one target for that block — write the sales page, finish the projections, whatever — and you don’t touch anything else until it’s done. And it means the people around you know not to interrupt unless something is genuinely on fire.
Kill the context-switching and you’ll get more done in one of those windows than you used to get in a full week. I know how that sounds. Try it for a week anyway.
Inbox zero is not an achievement
When you open your email first thing, you’ve already lost. You just handed your morning to everybody else’s priorities before you touched a single one of your own.
This is the uncomfortable part: to build something big, you have to get comfortable letting small fires burn.
If you’re proud of an empty inbox, there’s a decent chance you spent the day on things that felt productive and moved nothing. The grinder is replying to emails at 11 PM and calling it dedication. The person actually scaling something hired someone to filter the inbox so they only ever see the three messages that matter.
Stop spending your good decisions on dumb stuff
You get a limited number of real decisions per day. That’s not a productivity-guru thing, it’s just how the brain works. By mid-afternoon you’re running on fumes, which is exactly when you order the bad food and start doom-scrolling.
So the people who care about this remove the pointless choices on purpose. Same breakfast every day. Same handful of outfits — there’s a reason Jobs wore the same thing. Finances on autopilot. None of it is about being weird or rigid. It’s about saving the good decisions for the ones with real money on the line.
Learn to say no like it’s your job, because it is
Buffett said the difference between successful people and really successful people is that the really successful ones say no to almost everything. He wasn’t being cute.
Early on, sure, you say yes to everything. Every coffee, every cheap client, every podcast. You need the reps and the momentum. But here’s what nobody tells you: the stuff that gets you out of the ditch is not the stuff that gets you to the top. Different game, different rules.
The most valuable skill you can build right now is guarding your time like it’s the asset it actually is. Saying no to the podcast that’s wrong for your audience. No to the partnership that pulls you off your main thing. No to the “can I just pick your brain for 15 minutes” call that’s never 15 minutes.
Every yes to the wrong thing is a quiet no to the thing you actually want.
Grinding yourself into a hospital bed is not a strategy. It’s a broken system wearing a motivational quote.
So look at your week. Actually look at it. Where did the hours go? If you want the kind of success people write about, you’ve got to stop running around like a panicked employee and start thinking like someone who owns the place.
You don’t need more hours. You need better ones.
Follow me at @iamjoelbrown on Instagram for more success.
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