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8 Characteristics That Make Certain Entrepreneurs Wildly Successful

8 Characteristics That Make Certain Entrepreneurs Wildly Successful

Successful entrepreneurs surely have different talents and completely different ideas, but they all share some common characteristics which have helped them to stay on the right track and reach their goals. With that in mind, let’s look at some of the most important traits an ambitious entrepreneur needs to possess.

1. They are passionate

“If you just work on stuff that you like and you’re passionate about, you don’t have to have a master plan with how things will play out.” — Mark Zuckerberg, founder of Facebook

If you want your idea to be realized, you need to be passionate about it and to really want it to happen. Wanting to earn a lot of money from your idea is perfectly normal, but it shouldn’t be the main thing that motivates you to succeed. You need to love what you do and be passionate about it in order to succeed. Loving your job won’t magically put you on top, but it will motivate you to become more detail-oriented and determined to make your dreams come true. Many famous entrepreneurs made their hobby into a career, just because they were so passionate about them. Think of what you like, and let your hobby improve your skill set. And, who knows, maybe it will become your career.

2. They want to change the world

“The secret to successful hiring is this: look for the people who want to change the world.” — Marc Benioff, CEO of Salesforce

Whenever you ask an innovative entrepreneur what their goal is, all answers the are similar and have one common goal: to change the world. They think about impossible things to create and try to find a way to make it happen. On their journey, many creative ideas emerge and become real products, which slowly lead to a positive change.

Therefore, when searching for the right employees, successful entrepreneurs always look for people with the same vision – nothing is impossible.

3. They are mostly dog lovers

Wildly successful entrepreneurs have dogs who are treated like members of their family. This may seem as an irrelevant point, but having pets, not only dogs, makes us happier and gives us a positive attitude. All animal lovers understand the need for having a loving pet at home who will make you smile even if it is your worst day. That unconditional love is what makes people bond, helps them keep on going, and most importantly, it reduces stress, which leads to increased productivity and motivation.

Beast, Mark Zuckerberg’s dog, is probably the most famous pet in the world, with well over 2 million followers. If you are an entrepreneur and you are a dog lover, why not get one? If you think it’s a huge obligation, know that you can crate train your puppy quickly and effectively, with the help of a few easy-to-learn tricks and a bit of patience. Even Bill Gates has two dogs called Oreo and Nilla.

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All animals can boost your overall mood and remind you that you have a private life, and that you should focus on important things such as your family, partner, and children. As Richard Branson said: “Business opportunities are like buses, there’s always another one coming.” However, family stays with you through the toughest of times.

4. They don’t give up

“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” — Henry Ford, founder of Ford Motor Company

No one became successful by giving up when faced with a difficult challenge. The first mistake to make when things go wrong is to go along them. You need to go against your failures and use them to your benefit, and not just settle for less or quit. The most successful people in the world failed a lot of times before reaching the top, and if they had just quit at the first sign of trouble, they wouldn’t have changed the world and left a legacy.

Remember, failure is inevitable, but so is success.

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5. They invest in themselves

In order to make a successful company, you need to have a winning mindset, and if you want to develop something worthwhile, you need to improve yourself first. Many new entrepreneurs struggle with money, as it is really hard out there. Even the debts of regular households are increasing, so it is no wonder that entrepreneurs and startups face huge debts and money losses.

Manage your budget well and invest in your education first. Whether it is a course or an online lecture, you need to improve your knowledge. Later on, you can take a vacation in order to get rid of the everyday pressure and stress, but you should focus on self-improvement for now.

6. They always go for more

“Always deliver more than expected.” — Larry Page, co-founder of Google

If someone puts a limit to your idea, and says it’s all that can be done, don’t believe them. Use creativity and knowledge to go beyond the possible. Never do the expected, but strive for more. Surprise everyone and yourself by reaching higher goals. Doing only what is expected of you is pretty boring, but taking your job to the next level and being innovative is the main thing that will make you stand out from the crowd.

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7. They are persistent no matter what

“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” — Steve Jobs, co-founder and CEO of Apple

I like to look at being persistent as being spoiled. You want to do something and it’s your way or the highway. You won’t compromise and you won’t accept failure as an obstacle. But, you will be determined to make it right. You will forget the definition of the word “failure” and give it another meaning, which is a big step towards getting what you want. As Steve Jobs said, pure perseverance is the characteristic of a successful entrepreneur.

8. They are bike lovers

Many celebrities and entrepreneurs love bikes. Even the youngest billionaire in the world, Dustin Moskovitz, the co-founder of Facebook, still rides a bike to work. Recently, Larry Page, the CEO of Google, discussed his desire to get everyone to ride bikes. He has also suggested building an aerial bikeway, but we’ll give him some more time to develop that idea. Until then, the only air connection with a bike we accept is an aero road bike. Whether you choose an aero bike or a regular one, try including it in your daily routine.

Riding a bike, just like any exercise, releases endorphins which make us happier and more productive. Aside ffrom helping your mind focus better, your body will be thankful too, as you will improve your stamina and overall health as well.

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If you don’t have these characteristics, work on developing them and don’t be afraid to change the world. As I mentioned above, failure is inevitable, but with perseverance and hard work, so is success.

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Last Updated on October 18, 2018

10 Key Characteristics of a Highly Successful Entrepreneur

10 Key Characteristics of a Highly Successful Entrepreneur

When it comes to starting your own business and pursuing your dream of becoming an entrepreneur, it can be advantageous to go all in and embrace the flexibility of finally quitting your day job.

Keep in mind, though, that it takes a special kind of person to take the business world by storm: a person who has cultivated the key characteristics of entrepreneurial success.

People with these characteristics are likely to succeed, whereas people without them have difficulty moving forward with even the most brilliant business ideas.

These characteristics of an entrepreneur are so important that I’ve decided to cover all 10 of them in detail so that you can start your business with your best foot forward.

1. Successful Entrepreneurs Practice Discipline

Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline.

To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun.

Andrew Carnegie, one of the most financially successful Americans of all time, grew up working dull and difficult jobs in factories. Despite going to bed hungry some nights, he continued doing his best work. He was eventually hired by a railroad company and continued to move up the ladder until starting his own successful businesses. Carnegie is a fine example of an entrepreneur dedicated to discipline and hard work. He truly earned his dreams of prosperity and success.

When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early.

Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence).

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2. Successful Entrepreneurs Keep Calm

Things go wrong when you run your own business.

Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem.

Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder.

Honestly, losing your calm is a quick path to becoming the kind of person who gives up in the face of adversity. Instead giving in to frustration, remember classic entrepreneur Benjamin Franklin.

Franklin kept his calm as he experimented and tweaked his inventions again and again in pursuit of success. He didn’t give up during his many failures – he chose to innovate. You can choose innovation, too.

If an entrepreneur can handle failure without frustration or anger, s/he can move past it to find success.

3. Successful Entrepreneurs Pay Attention to Details

Restricting your attention to the big picture can be even more problematic than ‘sweating the small stuff.’

As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down.

Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar.

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After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details.

Skeptical about the importance of details? Look no further than Howard Schultz, who grew a small coffee shop called Starbucks into one of the most globally successful coffee businesses in the world through his extreme attention to detail.

He is famous for taking all aspects of growing a business into account, paying attention not only to financially smart business decisions, but also focusing on socially responsible business decisions. Details can take you far.

4. Successful Entrepreneurs Embrace Risks

No entrepreneur has a sure thing, no matter how much money s/he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business.

It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk.

You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great.

Embracing risks is essential for growth and additional success, as well. Walt Disney, for example, could have stayed comfortable with his advances in the film and animation industries, but decided to expand his brand with a new dream: a theme park that soared above the competition. Without taking this risk, the incredibly successful Disney theme park empire would never have come about.

An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.

5. Successful Entrepreneurs are Balanced

You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response.

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As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though.

Just as an entrepreneur doesn’t have a boss to keep them at work when necessary, they don’t have one to send them home when they’re done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

Oprah Winfrey, one of the most successful and influential entrepreneurs out there, understands the importance of balance. Winfrey has a lot going on; she runs her own media kingdom, acts, produces films, publishes print, and more. In an interview with Fast Company,[1] she talks about her efforts to balance priorities and self care, saying that she must ask herself what is truly important in each limited day.

You may or may not have as much on your plate as Oprah, but learning how to balance whatever you have going on in life will certainly help you farther along down the road as you learn to be a great entrepreneur.

6. Successful Entrepreneurs are Passionate and Motivated

In order to develop any of the above characteristics, you must have a foundation of passion. Staying disciplined day after day during the building of your business takes unrivaled motivation.

Before you start any business, ask yourself if you can sustain true excitement about your idea during even the darkest days ahead of you. If the answer is yes, then good for you! Nurture your natural motivation by taking these action steps throughout your business journey:

  • Commit to making short and long-term goals. Check in with them often to stay on task.
  • Have a plan in place for the inevitable days when you feel discouraged. Make a list of things that will help keep you motivated and focused.
  • Share your ideas with trusted individuals who are just as excited as you are. They will help keep your enthusiasm rolling even when you are feeling down.

By being prepared for apathetic days and holding fast to your authentic passion, you can actually enjoy your journey to success.

7. Successful Entrepreneurs Adapt

Remember this one word: flexibility. Seasoned entrepreneurs know that change is not only a part of life, but also a part of the business world. Expect change and choose to adapt.

As a new entrepreneur, it will be tempting to cling to your original business plan with no exceptions, even if you notice it isn’t working. Good entrepreneurs know that it’s okay to make smart, informed changes in order to ensure efficiency.

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8. Successful Entrepreneurs are Marketing and Sales Experts

No matter what kind of business you are starting, a knowledge of marketing and sales will save you many headaches. A passion for creating a beautiful handmade lifestyle product is not enough to run a successful lifestyle brand; it is critical that you understand key business principles in addition to your natural skills or great product line.

Not sure how to start? Taking business courses is a great idea, but you can also easily brush up on sales and marketing through free online resources. Check out these 10 Sales Skills Everyone Should Master To Be Successful to begin now.

9. Successful Entrepreneurs Have Strong Money Management

Along with sales and marketing skills, money management is a very useful tool in the box of the entrepreneur. Understanding how to best manage your money can be the difference between early success and early failure in the business world.

If money management isn’t your strongest skill, prepare to hire a financial expert to help you with any tricky business that comes up. Financial guidance and knowledge is never a bad idea.

10. Successful Entrepreneurs Ask Questions and Continually Improve

Pride is a natural human quality, but it’s important to humbly conduct some constructive criticism every now and again on both yourself as a leader and your new business as a whole.

Assess how things are going and be willing to make positive changes if necessary. Here’re 15 ways to cultivate lifelong learning.

If you are always improving, then how can you ultimately fail?

The Bottom Line

Let me remind you of one important fact: the qualities of an entrepreneur listed here are not exclusively available to some people and elusive to others.

Although some people may have natural strengths and weaknesses, these qualities can be learned by anyone interested in taking up the entrepreneurial challenge. It might not be easy to change old habits, but it is absolutely possible to cultivate these characteristics in yourself.

Whether you’re a business owner or an aspiring entrepreneur, with hard work, you can train yourself to develop the qualities that truly determine the entrepreneurial spirit and future success.

Featured photo credit: Unsplash via unsplash.com

Reference

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