Entrepreneurs are as varied as the businesses they build. However, as I’ve been out meeting people at networking meetings and interviewing entrepreneurs while researching my forthcoming book, I’ve noticed a few common traits of successful entrepreneurs.
1. Audacity and Courage
Whether it’s the risk of the initial investment, the uncertainty of income in the early years or the fact that you will fail or succeed based on what you do, it takes courage to be an entrepreneur.
A lot of us like to play it safe; not stand out from the crowd. However, all successful entrepreneurs have to be willing to take a chance and do something outside their comfort zone. Less successful entrepreneurs will give into the fear or the “I can’t do that” side of their personality. Successful entrepreneurs hear those same fears in their head but choose to ignore them.
2. Persistence
Successful entrepreneurs keep going, even when things aren’t going well. If they fall flat on their face they pick themselves up and move on. When the bank account is empty and there’s no customers on the horizon, instead of curling up in bed to hide (even if they might want to) successful entrepreneurs get to work.
This is probably why so many “self-made” millionaires have gone bankrupt several times before making it big. They don’t let one – or many – failures stop them.
3. Strong Belief in Themselves
It’s easier to be persistent when you know in your heart you will eventually succeed. Strong self-belief makes it easier to keep going when times are bad. It doesn’t mean that successful entrepreneurs never have self doubt – they just don’t dwell on the doubt.
4. Ask for Help
Truly successful entrepreneurs know when to get help – from an assistant, an accountant or a coach. They don’t try to do it all themselves. Although all entrepreneurs tend to have a bit of a control freak inside, at some point they realize they have to let go and let others help them along the way.
Along with asking for help, successful entrepreneurs are also good at helping others. They give of their time, expertise and money when appropriate.
5. Network Like Crazy.
Successful entrepreneurs know they need to create, maintain, and expand their network of relationships and resources. They constantly invest in their network – keep in touch with contacts, meet new people, help those they can.
6. Lifelong Learning
Education doesn’t have to mean formal education, but successful entrepreneurs are always trying to learn. They attend workshops, take classes, read books, talk to other entrepreneurs. They also learn from their mistakes. They understand that change is the one constant in today’s world so they keep learning to keep up.
7. Create Clear, Written Goals
Successful entrepreneurs got that way because of having clear goals. SMART (Specific, measureable, attainable, realistic, timely) goals are essential for success.
And writing them down gives them power. When they’re in your head, goals are still just a wish or a dream. But writing them down and creating an action plan makes them real and helps you stay focused on what you want. And by writing them down you’re declaring your intentions to the universe – which often leads to unexpected help along the way.
8. Think Big
It’s not enough to have SMART goals, but goals that really get you excited. You should get chills when you think of the possibility of achieving them!
This means thinking big. Successful entrepreneurs often started with a bigger vision for the life and business. It may take five, ten or more years to achieve these goals, but the bigger goals are what drive us.
9. Aren’t Perfect
Successful entrepreneurs take action now. They don’t wait for everything to be perfect. They understand that done is better than perfect.
This doesn’t mean they don’t strive for excellence – they do. That’s what makes them successful. But they know that perfectionism is just fear of failure in disguise.
10. Keep Striving For More
If you’re not moving forward, you’re falling behind. Successful entrepreneurs are always trying to improve their business – better service, better products, better margins, more customers. They never rest on their laurels – basking in the glory of what they’ve achieved.
The best part about these traits is you don’t have to be born with them. If you don’t see yourself in this list, don’t worry. You’re not doomed to failure. You can develop them and nurture these traits along the way.
Andrea J. Stenberg
