There are specific traits that you have to have in order to find success as an entrepreneur.
Not everyone is cut out to be an entrepreneur. To see the results that you are looking for in your entrepreneurial journey, you have to begin to develop some of the same characteristics that are commonly found in successful entrepreneurs.
Successful people have certain habits and ways of conducting themselves. This provides them with the ability to accomplish more during the day and allows them to have the right mindset. While some people are born with these characteristics, most people who dream of becoming successful entrepreneurs have to work to develop these traits and incorporate them into their daily lives. Here are the seven characteristics that you need to possess if you want to find success as an entrepreneur.
The first characteristic that most successful entrepreneurs possess is tenacity. When it comes to business, tenacity means that you don’t take failure personally and you keep working, sometimes for years, to get the things you want in your life. A tenacious entrepreneur will never give up and can bounce back when they face setbacks and run into challenges. When they run into roadblocks and experience setbacks, they don't give up; instead the try something new or try doing it another way.
Other people tend to give up and quit when they become frustrated or when something is too hard. Entrepreneurs, on the other hand, merely shrug their shoulders and move forward with their plan. It is often wrongly assumed that successful people don't experience failure. However, they have a higher instance of experiencing failures in their lives because they never give up trying. The difference between successful people and the rest of the population is that people who are successful understand that failure is just a part of the game and continue moving forward in the face of failure.
It is a common assumption that successful entrepreneurs are driven by money. However, most entrepreneurs will tell you that they are driven by their passion for their service or product. They are driven by their need to solve a problem and make life better, more comfortable, and cheaper. They believe that they will be able to change the world. They are excited by what they are doing and believe that their passion will get them through the difficult times.
Having a passion that is based on your business’ specific mission provides an intrinsic drive and belief that the internal reward will help sustain you between paydays. It is your passion for what you do that will push you to go the extra mile. Your passion will provide you with the excitement to go to work every day and get things done. You’ll begin to be excited to see what can happen.
Tolerance of Ambiguity
This personality trait is defined merely by the ability to withstand the fear of uncertainty and potential failure. Successful entrepreneurs are inherent risk-takers. The ability to control one's anxiety is the most critical characteristic of successful entrepreneurs. Entrepreneurs face an abundance of fears; the fear of humiliation, the fear of running out of cash, the fear of missing payroll, the fear of having to declare bankruptcy, the list goes on. The successful entrepreneur is able to look fear in the face and push forward with their plan.
The ultimate entrepreneurial test happens on the mental battlefield. You have to decide to either go with the fear and quit or push through the fear and move forward in pursuing your goals. Successful entrepreneurs always push through the fear. They are able to control their thoughts and mentally commit to their plan and the actions that follow. The entrepreneur will look at a situation and know that they have some control over the outcome.
One of the defining traits of all successful entrepreneurs is their ability to spot an opportunity and imagine something where others haven’t. Entrepreneurs have an inherent curiosity about the world around them that provides them with the ability to identify overlooked niches and put them at the forefront of innovation and emerging fields. They are able to imagine another world and have the ability to communicate their vision to others.
Successful entrepreneurs are always looking for ways to the change things around them and make them different, unique and better. They are willing to take the risk to see their vision become a reality because they know that it is going to be something big.
A critical entrepreneurial trait is self-confidence. If you don’t believe that you have what it takes to do something, then chances are you won’t succeed in your business venture. You have to have faith in your thoughts and opinions and know that you are capable of accomplishing anything that you put your mind to achieving. You have to be sure that your product or service is something that the world needs and that you can deliver it to overcome the naysayers in your life.
Researchers describe this as task-specific confidence. It's a belief that turns the risk proposition around and provides you with the assurance that you can get the job done based on the research you've conducted. You have to have the confidence and be willing to take calculated risks. Successful entrepreneurs know that they are right and are confident that they are making the right decisions for their life.
Your ability to survive in business depends on your ability to adapt and be flexible to the continually changing world. The final product or service that you offer will likely look different from when you started. Flexibility is what allows you to respond to the changing tastes and market conditions and is essential if you want to be a successful entrepreneur.
If you are unable to remain flexible in your journey to entrepreneurial success, you are going to be in for a huge disappointment. This is because in business something will eventually go wrong. Those who are successful understand that things aren't always going to go the way that they want or plan. They are able to see when things are going off track, figure out why they are going off track, and make the necessary adjustments to get back on the path.
The difference between successful people and the rest of the population is that they are able to properly manage the time that they have. They are highly organized individuals, which allows them to complete tasks without wasting time. This results in them being able to accomplish more throughout the day, without having to put in excessive hours.
You CAN Develop These Traits!
Developing these characteristics and incorporating them into your daily life can make your entrepreneurial venture much more manageable and can help you reach the success you've always dreamed of possessing. Take some time to look at your life and see which of these characteristics you already possess and which ones you need to develop.