Entrepreneurs
8 of the Most Important Traits You Need to Have as an Entrepreneur
There’s no business like small business. Entrepreneurship is the heart and soul of commerce and the real backbone of America. The country is home to 30.2 million small businesses, and a whopping 99.9% of them are small operations. You can thank the entrepreneurs and the other moms & pops in your neighborhood for keeping the nation strong.
Without successful leaders at the helm, economies, commerce, and industries wouldn’t be as big as they are today. When done the right way, there are many perks to being an entrepreneur, including a more flexible schedule and not having a boss. However, the most crucial benefit is that you get to see and experience the fruits of your labor.
Are you thinking about quitting the rat race and joining the ranks of successful business people? That’s great! Here are a few characteristics you need to have to become one:
1. Motivation
Self-motivation is one of the most critical traits all entrepreneurs share. According to a Pro Opinion poll, 33% of entrepreneurs rated self-motivation as their most important trait. If you want to succeed in business, you need to be able to push yourself, because no one else will. Not answering to anyone else is a perk of becoming an entrepreneur, remember?
Sometimes, it’s tough to get moving without someone telling you to get busy. Dedication is a large part of motivation, and you need to stick to your plan and keep moving forward. This means a few stretches of not having enough sleep or the immediate gratification of revenue.
2. Confidence
The same ProOpinon survey found that 29% of entrepreneurs feel that confidence is the most crucial trait in business. Successful professionals never harbor doubts or ask the universe if they can succeed, because they know they will. They’re confident that their knowledge and abilities will equal success. Successful entrepreneurs radiate confidence in everything they do, both in business and life.
3. Passion
One of the most significant traits that entrepreneurs have is an infectious passion for what they are doing. These people are successful because they get up in the morning, happy for what lies ahead. They love what they do, and it can’t get any simpler than that. Coming to work is no longer a chore, and working extra hours finally means something.
Passion drives entrepreneurs to pour their blood, sweat, and tears into the business to make it flourish. They work hard, focused on achieving their vision and dream. Business professionals are not in it for the money, but for the pleasure of seeing how their business impacts the lives of others. Making it rain is gravy.
“Follow your own passion—not your parents’, not your teachers’—yours.” – Robert Ballard
4. Creativity
Successful entrepreneurs operate on a different wavelength when it comes to creativity. They have the uncanny ability to connect the dots between completely unrelated scenarios.
Entrepreneurs think outside the box to come up with innovative solutions to everyday problems. They strive to keep things fresh and are always looking for new ways of doing things. By being creative, industry giants gave us cars, computers, social media, smartphones, and the internet.
5. Discipline
The most successful entrepreneurs don’t make reckless decisions based on emotions. They view situations with an open mind and try to adapt to it, depending on the present circumstances.
It’s harder to show restraint and not act immediately, especially when emotions overtake logic. However, business people know how to keep their emotions in check, and they never make rash decisions without doing due diligence.
6. Courage
Virgil’s quote, “Fortune favors the bold,” sums up a pivotal trait to becoming a successful entrepreneur. You must have the courage to take risks and the determination to persist when everyone is telling you otherwise.
Playing it safe and not taking the necessary risks in business is a road that leads to nowhere. You’ll stagnate if you don’t make a calculated leap of faith. Entrepreneurs view risks and challenges as opportunities, not something to be afraid of. They see past the risks and focus on the possible rewards waiting on the other side.
“He who is not courageous enough to take risks will accomplish nothing in life.” – Muhammad Ali
7. Optimism
Starting a business can be a daunting task, and most people feel the weight of expectations that it’ll never happen. This “feeling” is negativity speaking. Entrepreneurs are optimists who are always looking ahead. They are optimistic about the future and are a few steps ahead of the game because of careful goal-setting. Business leaders have a vision of what they want to achieve and do everything in their power to make it happen.
8. Competitive Fire
Multiple companies get started simultaneously, and chances are you’re not alone when you start your business. There are more than 30 million companies in the U.S., and 69% of them started at home.
With all the other companies in your niche vying for relevancy, you need to stay competitive 24/7. Keep things fresh with new ideas and exceptional service. Highlight your track record of success and make it a point to keep your most valuable customers happy. Learn people networking, and network the shishkabob out of your company.
These traits won’t 100% guarantee your success in becoming an entrepreneur. You still need ideas, an epic concept, and a niche. However, having several of these characteristics may increase your chances of doing so.