Being an entrepreneur entails a lot and the fact is that true entrepreneurs are not born but made. Most entrepreneurs have some traits that make them successful and that distinguishes them from others and many of these traits were developed through years of handwork and trial and error. Below are 11 traits of highly successful entrepreneurs.
1. They’re Defined
A major trait of highly successful entrepreneurs is that they are defined, they are not a product of luck or people who wait on the future to reveal what it has in stock for them. Highly successful entrepreneurs have defined themselves from their very first day, they know what they wanted to achieve from the starting point and they are determined to let nothing stop them from achieving it. Highly successful entrepreneurs don’t believe that there is something called fate, they know they can define their future and that defining one’s future is the true key to success.
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2. They’re Passionate
The key to success lies in doing what you love, and you wouldn’t go far doing something because others believe it is right or because you think it is lucrative if you have no passion for it. Even though it is important to effectively research a market before starting a business in it, it is equally important to make sure you’re passionate about your business. If a business you’re passionate about is not profitable, try to develop a strong passion for something profitable that is close to that.
3. They’re Professional
If you’ve ever had conversations with “real entrepreneurs” they will tell you the importance of packaging. Your business is important but how you present it is even more important.
Successful entrepreneurs have realized the power in being professional and they always utilize it for their business. It doesn’t matter how great your idea is or how knowledgeable you are, you must present your business in a way that people will be attracted to it; and not just any type people, but the type of people you need. The key to attracting more people to your business and getting more results is being professional.
4. They’re Effective Planners
Some people will say the future will take care of itself – you will never see a true entrepreneur in that league. We make the future, we can determine what will happen and even if the future will decide for itself it needs an input from us. That input can be in any form and it is that input that will determine the result that we get, if your input is idleness then the future is more than happy to give you failure but if your input is hardwork and tenacity the future is ready to surprise you with success.
Highly successful entrepreneurs don’t joke with planning, they know what their business will be in the next 5-10 years because they’re always planning, and they’re ready to give it what it takes.
5. They’re Marketers
There is a very old adage which many entrepreneurs still play by and that adage explains the reason many of them fail. That adage is build it and they will come. The saying might be true centuries ago but it is no longer effective in our age, successful entrepreneurs have realized this and they are ready to play by it.
Successful entrepreneurs know that succeeding as an entrepreneur does not lie in the quality of your product or how unique your idea is but in how you can market it. Even though there is no doubt a better product will bring more results you can’t go far without people knowing about it. Marketing is the key; it is inevitable to success as an entrepreneur.
6. They’re Disciplined
Being an entrepreneur is the beginning of failure for some people because they see it as an opportunity to live in pleasure, they now have the whole time in the world and they could afford anything they want so they see no need for discipline.
Highly successful entrepreneurs know the importance of discipline and they don’t use the excuse of the pleasures and luxuries they could afford as a reason for their failure. They know how to effectively manage their time and they do what is right at the right time. They also know when it is time for business and time for personal things – and they never play with their business.
7. They Have Tenacity
Tenacity, also known as persistent determination is a great trait exhibited by highly successful entrepreneurs and this can be proved by a lot of facts in our day-to-day lives. It has been observed that over 70% of startups fail in their first 10 years and yet these highly successful entrepreneurs are able to move ahead amidst all the odds against them.
Having tenacity is very important to success as an entrepreneur because there are so many things standing against the success of an entrepreneur and the only way to overcome all these is to be consistently determined. The determined man can be very dangerous, and is almost unstoppable from achieving anything!
8. They Respect the Power in a Name – And They Guide Their Name With Their Lives
While there are so many ways to make a name for yourself, successful entrepreneurs have realized that the main thing is not building a name, but preserving your name. It is very easy to destroy a name than it is to build it and that is why it is always important to guide your name with your life.
Successful entrepreneurs don’t joke with their name, because a name is very important. The way you will perceive anything from Google, Apple or Microsoft will be different from how you will perceive the same thing from another company. Your name can determine whether a new campaign of yours will be successful or it will be an utter failure. Focus on building a name for yourself, and afterwards, guide it with your life.
9. They’re Networkers
There is true power in networking and utilizing the power of others can determine the difference between success and failure for your business. Successful entrepreneurs have what we call an “inner circle” and they spend their time, resources and everything developing their inner circle – because if they lose every other thing, it is the only thing they have.
True networking is not about you thinking about what you want to gain temporarily but by focusing on what both you and the fellow you’re networking with will gain in the future. Spend more time building and improving your network, you will still realize that it is one of your most important assets.
10. They’re Risk Takers
What differentiates successful entrepreneurs from other people is the uncanny ability they have for taking risks. Every successful thing you see around is a product of a risk taken by one person or the other in history, someone first ate the food you’re eating now without caring about the food leading to his/her death. Someone invented the vehicle you’re using without the fear of it being a waste of time and money. True entrepreneurs are not afraid to take risk but they take risks and learn from the failed risks while celebrating the successful ones.
11. They’re Ambitious
Take a look at most of the successful entrepreneurs we have and you will see that they are highly ambitious, they dream big, they think big and the see things beyond the impossible. Most successful entrepreneurs are initially seen as foolish when they think big but they are seen as real success when they succeed.
Don’t be limited by your present state or what people think, see far into the future, dream big and work towards achieving your dreams.