Successful entrepreneurs have certain traits in common. If you don’t have them, don’t despair. You can always develop them. 5 traits of a successful entrepreneur are as follows:
- Perseverance – Sir Winston Churchill once said, “Success is the ability to go from one failure to another with no loss of enthusiasm.” As an entrepreneur, you’re going to fail. That’s just an unfortunate fact. Not everything you do is going to work. It is your ability to come back and keeping on keeping on that sets you apart. In fact many successful entrepreneurs don’t even look at things as a failure but rather something they tried that didn’t work.
- Passionate – “Passion is energy. Feel the power that comes from focusing on what excites you.” —Oprah Winfrey. This business is hard. Passion for it will keep you going even when things go wrong.
- Calculated Risk takers – Let’s face it, an entrepreneur is by definition a risk taker. It is much safer to work in corporate America than to go out on your own. However they don’t take risk for risk sake. They make decisions based on sound research and evidence. They test ideas before rolling the dice. Unlike the former CEO of JC Penny’s Ron Johnson who did a major overhaul on the business without first testing his concepts. We all know how disastrous that turned out.
- Self Motivated – Entrepreneurs have the ability to do what needs to be done, without outside influence from other people or situations. People with self motivation can find internal reasons and strength to complete a task. Which is important when you do not have anyone to answer to.
- Visionaries – Most successful entrepreneurs start out with a vision. It might be a new product or just a new way to do things. Having a vision of where you want your business to go it is essential to success.