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Last Updated on April 15, 2020

8 Characteristics of Entrepreneurship That Will Lead to Success

8 Characteristics of Entrepreneurship That Will Lead to Success

Entrepreneurship can be one of the most fulfilling paths you can take.

Have you dreamed of starting your own business and how that might change the world? Are you looking for a faster and more consistent road to success on your current entrepreneurial journey?

Perhaps you are already on your way and looking for the best ways to scale your current business, while you still maintain control over your time and continue your pursuit of joy and happiness in your life.

Whether you are already an entrepreneur or aspiring to be one, there are time-tested tools, tips, and techniques that you can employ so you can enjoy more personal and financial success along with the ultimate rewards and satisfaction that being an entrepreneur can offer you.

In this article, you will learn about the characteristics of entrepreneurship that will help you become a successful entrepreneur.

2 Basic Rules for Being an Entrepreneur

Rule #1 – Mindset Is Your Fundamental Success Tool

As an entrepreneur, developing a positive and productive mindset should be your first goal and a fundamental characteristic that you work on daily.

Mindset is the cornerstone of success. Starting with a positive mindset will always be your best defense when you run into the inevitable challenges on the road to entrepreneurial success.

According to Stanford psychology professor and author, Dr. Carol Dweck, one of the world’s leading authorities on mindset, there are two types of mindset: fixed mindset and growth mindset.

Fixed mindset is a belief that you are born with certain traits and they are immutable or unchangeable.

However, Dr. Dweck’s primary focus surrounding mindset is on developing the growth mindset: a belief that learning new skills and abilities can be strengthened through commitment, persistence, and work.[1]

With a commitment to the growth mindset, you become an unstoppable force with access to unlimited mental resources that you will need for long-term success.

Rule #2 – Mindset + Strategy = Your Success Formula

With your positive and productive mindset in place, you can more easily implement your chosen and necessary strategies to start, grow or scale your business.

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A mentor once shared with me something that has always stuck with me:

“The most positive mindset is only valuable when you take action on the right strategies…and in turn, the right strategies are only temporary if you don’t have the right mindset. Mindset + Strategy = Success.”

Depending on your business, you will have multiple strategies at your disposal. It is not the purpose of this article to give you specific strategies for your market or industry.

What you will learn here are universal strategies that apply to any entrepreneur, for any business, at any time in history.

Here are 8 characteristics of entrepreneurship essential to success:

8 Characteristics of Entrepreneurship That Lead to Success

1. Be a Little Obsessed (okay, maybe more than a little)

Entrepreneurs start a business for one of two primary reasons:

The first is that entrepreneurs are passionate. We want to change the world with our visions, and we are obsessed with being a catalyst and driver for change.

The other is that we see a solution to a problem and a way to capitalize (read: make money) on that idea.

Typically, entrepreneurs share both of these reasons, but the most successful ones are driven by the passion for change. We have a very big “WHY” for doing what we do.

Having a clear vision will help motivate you to get out of bed every morning and make your mark on the world. So, be very clear about why you are on this journey. Then go ahead and be a little obsessed and reap the rewards of your passion.

2. Show Up Every Day With Everything You Have

Jim Rohn once uttered this powerful quote:

“What is easy to do is also easy not to do.”

It takes fundamental self-discipline and drive to achieve your goals as an entrepreneur. One of the greatest gifts of entrepreneurship is the ability to control your destiny. If you make good choices about where you direct your time, you can get a lot done quickly and efficiently, giving you time for self-care, family, recreation and the other things in life that are more important than a successful business.

The hidden landmine of being in control of your destiny is that it is also very easy for us to procrastinate, especially without some accountability. Procrastination can be the bane of our existence.

One of the most important characteristics of success in entrepreneurship is discipline. It is also one of the most challenging for many of us to master.

Let’s face it, there will be days when you just don’t “feel like it”. But the show must go on. Those moments require you to pull out your strongest mindset and discipline practices like your morning routine.

3. Practice a Solid, Productive And “Non-negotiable” Set of Morning Routines

One of the most important elements of productivity is to “master your morning.” If you master your morning, you will master your day. If you master your day, you will master your life.

This varies from person-to-person, but here are some activities that you will want to include in your morning routine:

  • taking some time for silence or meditation
  • visualizing your ideal outcomes
  • exercising
  • reviewing your goals
  • reading and training
  • planning
  • generating new ideas.

Practicing an effective morning routine will make you more productive, hone your self-discipline skills, and help you to chip away at your bigger goals, one small task at a time.

Developing an uninterruptible and non-negotiable morning routine protects your most valuable and creative resource: your time.

4. Persistence Prevails When All Else Fails

One harsh reality that every entrepreneur will face is what I call “hitting the wall.”

Hitting the wall can take many forms, including creative blocks, feeling like you are running out of ideas, a business or financial obstacle, or a personal challenge that tries to steal your focus. I would love to tell you that you can avoid hitting the wall, but realistically, you can’t.

So, what do you do about it?

This is where the previous attributes and characteristics of entrepreneurship come into play. The discipline of simply showing up every day with everything you have is powerful.

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In his inspiring and down-to-earth guidebook for anyone in the creative space, which includes entrepreneurs, The War of Art, Stephen Pressfield powerfully and eloquently addresses this idea. Pressfield refers to the problem as “resistance”, and the solution is simply being persistent, or as he puts it: “doing the work.”[2]

5. Be a Perpetual Learner

Stay hungry. Stay on the top of your game.

In today’s information-based society, tactics and strategies change in a heartbeat. Therefore, it is vital to your success that you stay up-to-date and on the cutting-edge of the latest developments in your field.

Equally important is reading (or listening to) books that inspire you and help keep new ideas flowing. Listening to audiobooks through platforms like Audible is a great way to “multitask” your daily “reading” with other activities, like working out or driving.

When you study successful entrepreneurs, you will find that daily learning and reading is a non-negotiable part of their success formula.[3]

6. Sharpen Your People Skills

Sometimes running a business can feel like trying to herd cats. Customers, clients, and team members all require a slice of your time in some form. While having the right team in place can bring order to your chaos, it will also take some effort and patience on your part to learn to manage that team.

No man (or woman) is an island. It takes a team; a community; a movement to build your tribe and create the ultimate satisfaction, success, and freedom you desire as an entrepreneur. To truly create a significant impact in the world, you will need more than just you.

Because everything in successful entrepreneurship requires human interaction, it is important that you sharpen your communication and leadership skills. This allows you to accommodate the various cultures and personality types that you will encounter on your path.

There are tremendous resources available to help you hone your leadership skills. If managing your team feels like you are herding cats, then take a cue from #5. Tap into the communication and leadership training you need to master your herding skills.

7. Acknowledge the Little Wins Along the Way for Both You and Your Team

When you are striving to achieve big goals, it is easy to lose sight of the smaller successes that happen along the way.

Entrepreneurs tend to gauge their successes based on hitting those bigger goals. But it’s the little steps that you will take, each and every day, that will ultimately make all the difference.

Take a little time at the end of every day (or during your morning routine) to acknowledge your wins from the previous day. This is important to do for yourself, as well as for your team members.

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Everyone loves to be appreciated. Your team and company morale will soar when you take time to acknowledge both the big and small successes accomplished by your team members. Have fun with this! It makes a huge difference in overall performance, productivity and even the health of your team.[4]

8. Remember to Take care of Yourself in the Process

Entrepreneurs are notorious for falling into one of two categories when it comes to self-care.

The first is always taking care of everything and everyone around them while neglecting to give themselves the same level of attention and care.

The second alternative is becoming so obsessive about their work and life mission that other important parts of their lives get out of balance.

If you are an entrepreneur (or an aspiring one), chances are that you have or will run into one of these two situations at some point. Neither one is particularly healthy. And neither one will provide high levels of sustained productivity over time.

Take the time to care for yourself while you pursue your dreams and your life purpose in the form of your entrepreneurial journey. That means eating healthy, drinking plenty of water, taking breaks throughout the day, getting regular, consistent exercise and plenty of sleep, and spending time with family and friends.

Where Do We Go From Here?

Regardless of whether you are embarking on the exciting and fulfilling journey of entrepreneurship for the first time, or if you are a seasoned entrepreneur, or even if you fall somewhere in between, take a little time to assess where you are with each of these areas.

Give yourself the gift of a quiet moment to review your current situation and perform an honest evaluation. If you have trouble with clarity in any of these areas, consider asking friends, family members, and team members how you are stacking up. You may be surprised at what you discover about yourself.

What other areas are important in your life and business?

Remember that successful navigation through the world of entrepreneurship requires reevaluation. There is no such thing as your life and business being separate. The two are intimately connected.

When you find the balance that works for you, the results can be inspiring and rewarding at levels you may not have imagined yet.

More Tips for Aspiring Entrepreneurs

Featured photo credit: Garrhet Sampson via unsplash.com

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Reference

More by this author

Jeffrey Howard

Jeffrey Howard is a Serial Entrepreneur, Peak Performance Coach and Consultant, Bio/NeuroHacker, Speaker, Author, Trainer, Musician and Producer

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Last Updated on October 13, 2020

How to Get Promoted When You Feel Stuck in Your Current Position

How to Get Promoted When You Feel Stuck in Your Current Position

Have you been stuck in the same position for too long and don’t really know how to get promoted and advance your career?

Feeling stuck could be caused by a variety of things:

  • Taking a job for the money
  • Staying with an employer that no longer aligns with your values
  • Realizing that you landed yourself in the wrong career
  • Not feeling valued or feeling underutilized
  • Taking a position without a full understanding of the role

There are many other reasons why you may be feeling this way, but let’s focus instead on learning what to do now in order to get unstuck and get promoted

One of the best ways to get promoted is by showing how you add value to your organization. Did you make money, save money, improve a process, or do some other amazing thing? How else might you demonstrate added value?

Let’s dive right in to how to get promoted when you feel stuck in your current position.

1. Be a Mentor

When I supervised students, I used to warm them — tongue in cheek, of course — about getting really good at their job.

“Be careful not to get too good at this, or you’ll never get to do anything else.”

This was my way of pestering them to take on additional challenges or think outside the box, but there is definitely some truth in doing something so well that your manager doesn’t trust anyone else to do it.

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This can get you stuck.

Jo Miller of Be Leaderly shares this insight on when your boss thinks you’re too valuable in your current job:

“Think back to a time when you really enjoyed your current role…You became known for doing your job so well that you built up some strong ‘personal brand’ equity, and people know you as the go-to-person for this particular job. That’s what we call ‘a good problem to have’: you did a really good job of building a positive perception about your suitability for the role, but you may have done ‘too’ good of a job!”[1]

With this in mind, how do you prove to your employer that you can add value by being promoted?

From Miller’s insight, she talks about building your personal brand and becoming known for doing a particular job well. So how can you link that work with a position or project that will earn you a promotion?

Consider leveraging your strengths and skills.

Let’s say that the project you do so well is hiring and training new entry-level employees. You have to post the job listing, read and review resumes, schedule interviews, make hiring decisions, and create the training schedules. These tasks require skills such as employee relations, onboarding, human resources software, performance management, teamwork, collaboration, customer service, and project management. That’s a serious amount of skills!

Are there any team members who can perform these skills? Try delegating and training some of your staff or colleagues to learn your job. There are a number of reasons why this is a good idea:

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  1. Cross-training helps in any situation in the event that there’s an extended illness and the main performer of a certain task is out for a while.
  2. As a mentor to a supervisee or colleague, you empower them to increase their job skills.
  3. You are already beginning to demonstrate that added value to your employer by encouraging your team or peers to learn your job and creating team players.

Now that you’ve trained others to do that work for which you have been so valued, you can see about re-requesting that promotion. Explain how you have saved the company money, encouraged employees to increase their skills, or reinvented that project of yours.

2. Work on Your Mindset

Another reason you may feel stuck in a position is explained through this quote:

“If you feel stuck at a job you used to love, it’s normally you—not the job—who needs to change. The position you got hired for is probably the exact same one you have now. But if you start to dread the work routine, you’re going to focus on the negatives.”[2]

In this situation, you should pursue a conversation with your supervisor and share your thoughts and feelings to help you learn how to get promoted. You can probably get some advice on how to rediscover the aspects of that job you enjoyed, and negotiate either some additional duties or a chance to move up.

Don’t express frustration. Express a desire for more.

Present your case and show your boss or supervisor that you want to be challenged, and you want to move up. You want more responsibility in order to continue moving the company forward. Focus on how you can do that with the skills you have and the positive mindset you’ve cultivated.

3. Improve Your Soft Skills

When was the last time you put focus and effort into upping your game with those soft skills? I’m talking about those seemingly intangible things that make you the experienced professional in your specific job skills[3].

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Use soft skills when learning how to get promoted.

    According to research, improving soft skills can boost productivity and retention 12 percent and deliver a 250 percent return on investment based on higher productivity and retention[4]. Those are only some of the benefits for both you and your employer when you want to learn how to get promoted.

    You can hone these skills and increase your chances of promotion into a leadership role by taking courses or seminars.

    Furthermore, you don’t necessarily need to request funding from your supervisor. There are dozens of online courses being presented by entrepreneurs and authors about these very subjects. Udemy and Creative Live both feature online courses at very reasonable prices. And some come with completion certificates for your portfolio!

    Another way to improve your soft skills is by connecting with an employee at your organization who has a position similar to the one you want.

    Express your desire to move up in the organization, and ask to shadow that person or see if you can sit in on some of their meetings. Offer to take that individual out for coffee and ask what their secret is! Take copious notes, and then immerse yourself in the learning.

    The key here is not to copy your new mentor. Rather, you want to observe, learn, and then adapt according to your strengths.

    4. Develop Your Strategy

    Do you even know specifically why you want to learn how to get promoted? Do you see a future at this company? Do you have a one-year, five-year, or ten-year plan for your career path? How often do you consider your “why” and insure that it aligns with your “what”?

    Sit down and make an old-fashioned pro and con list.

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    Write down every positive aspect of your current job and then every negative one. Which list is longer? Are there any themes present?

    Look at your lists and choose the most exciting pros and the most frustrating cons. Do those two pros make the cons worth it? If you can’t answer that question with a “yes,” then getting promoted at your current organization may not be what you really want[5].

    The two most important days in your life are the day you are born and the day you find out why. —Mark Twain

    Here are some questions to ask yourself:

    • Why do you do what you do?
    • What thrills you about your current job role or career?
    • What does a great day look like?
    • What does success look and feel like beyond the paycheck?
    • How do you want to feel about your impact on the world when you retire?

    Define success to get promoted

      These questions would be great to reflect on in a journal or with your supervisor in your next one-on-one meeting. Or, bring it up with one of your work friends over coffee.

      Final Thoughts

      After considering all of these points and doing your best to learn how to get promoted, what you might find is that being stuck is your choice. Then, you can set yourself on the path of moving up where you are, or moving on to something different.

      Because sometimes the real promotion is finding your life’s purpose.

      More Tips on How to Get Promoted

      Featured photo credit: Razvan Chisu via unsplash.com

      Reference

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