Advertising
Advertising

10 Key Characteristics of a Successful Entrepreneur

10 Key Characteristics of a Successful Entrepreneur

Countless millions dream of one day achieving their commercial dreams by making it as a successful entrepreneur, yet most people who foray into the business world for the first time often do so without adequate preparation.

Despite the many allures of becoming a successful entrepreneur, you’ll have many hurdles to surmount before you can claim victory. And entering into the market without doing your homework is a surefire way to doom your prospects before you even really get started.

So, what do you need to make it as an entrepreneur in a tight market? And why do so many fledgling business gurus fail to achieve their dreams?

Here are 10 key characteristics of an entrepreneur to review before starting your own company:

1. Organizational Skills Are Key

For many entrepreneurs, life is a take-it-as-it-comes adventure, wherein they roll with the punches instead of planning things out well-ahead of time. This is a dangerous path to tread, as countless business endeavors have failed due to a lack of foresight.

Furthermore, rapid changes to the market conditions you’re operating in can seldom be weathered without ample preparation. So focusing on your organizational skills now will surely help you later down the line.

Nevertheless, most entrepreneurs struggle with honing their organizational talents because they’re so caught up in the daily grind of running their company from the big-picture perspective, which seldom if ever permits you to plan the nitty-gritty details of your commercial future. That’s why it’s important to set some time aside for planning purposes or consider hiring an assistant to help you manage your hectic schedule.

Hiring someone to keep track of your calendar, meetings, and other crucial deadlines isn’t always easy for entrepreneurs trying to cut down on the operational costs of doing business, yet having a dedicated professional help you bolster your organizational talents will pay off in the long run.

You won’t be able to model the way for your employees without adequate organizational skills, so don’t let them fall on the backburner as you seek commercial success.

2. An Innovative Mindset Is Mandatory

Some entrepreneurs who think their organizational skills are highly refined may be breathing easy, but the truth of the matter is that, there are other key characteristics you’ll need to possess if you want to succeed, too, such as an innovative mindset.

Being able to foresee and tap into disruptive changes which are hurtling your way is more important now than ever before, especially since digital technology has rendered virtually every industry ripe for operational overhauls. Whether you’re a small business, budding corporate empire, or small time crafts shop, there’s a good chance innovation is heading your way for better or for worse.

Advertising

It’s thus imperative to master the art of appealing to emotions[1] in an effort to help your ideas cut through the noise and receive the attention they deserve.

An innovative mindset is insufficient in and of itself unless you have the savviness to pass off your innovative ideas as being desperately needed. So spend some time honing your appealability if you want innovation to be a friend rather than a foe. This is why it’s also crucial to focus on…

3. Empathy for Everyone

Most businesses don’t start out because people want to turn the world into a better place, but rather, in the pursuit of profit so that you can earn an honest living for yourself.

For many entrepreneurs, honorable intentions and helping people must come second to profits because a failure to earn a buck means bankruptcy and an inability to help anyone ever again.

Nevertheless, it’s important that you don’t allow profit motives to consume your entire entrepreneurial personality, as those business leaders who find success most easily are empathetic and capable of connecting with people on a deep, emotional levels.

Empathy is worth speaking at length about, because it’s something that most entrepreneurs lack. By honing your empathic abilities and opening yourself up to the experiences of others, you’ll quickly find an ability to cultivate deep employee loyalty to your commercial cause. Furthermore, your workers will understand that they can approach you as a friendly source of inspiration when they’re down rather than treating you as a harsh boss to be avoided whenever there’s bad news.

Genuine empathy is good for business because it humanizes your otherwise robotic commercial operations and gives customers, workers, and investors alike plenty of reasons to have confidence in your leadership abilities.[2]

If you’re struggling to lure in new customers, your inability to exercise empathy could be the root cause of your issue. Given that so many entrepreneurs struggle with empathy, making it a key characteristic of your personality is a fantastic way to stand apart in the marketplace while luring in the best and brightest of workers.

4. Interpersonal Communication Skills

You don’t have to be a business mastermind to understand that a strong communicative arsenal is needed to survive and thrive for long in the cutthroat commercial marketplace. What too few entrepreneurs realize, however, is that some forms of communication are more valuable than others, and that interpersonal communication must rise above all else if you want to succeed as an entrepreneur.

Interpersonal communication is face-to-face communication, which is crucial to remember. There’s such thing as technologically intermediated interpersonal communication, wherein you’re talking face-to-face over video services, but the real deal entails you and the person you’re communicating with seeing one another in the flesh.

Entrepreneurs who don’t actively labor to refine their interpersonal communication skills will find themselves struggling to succeed in a number of crucial commercial areas, not least of which include employee recruitment and retention.

Advertising

You may think your employees are dreading a face-to-face sit down with the boss, but the truth of the matter is that human beings need human contact if they’re to remain happy, healthy, and productive. Introducing yourself to your workers in a normal human fashion and frequently engaging them in a face-to-face manner will bolster your personal ties while making it easier for you to read body language and other important cues that are lost in the midst of tech-intermediated communication.

In other words, try to remember that digital communication skills aren’t the only thing that matters.

5. Self-Discipline and Management Skills

Far too many entrepreneurs spend too much time worrying about the company’s well being and too little time looking after their own health. It may seem obvious, but failing to take care of your body and mind through a wholesome self-discipline will surely be your downfall sooner rather than later.

The human body can only deal with so much stress, and the long hours that most entrepreneurs work will inevitably be their undoing unless some downtime is scheduled in.

Take some time to familiarize yourself with self-management techniques which can enable you to make the most out of both your downtime and productive hours. Take caution not to approach your personal downtime like a business endeavor, however. Far too many entrepreneurs don’t know how to go into “off mode,” and refuse to gain the wholesome self-discipline sometimes required to force yourself to take a break.

Remember that too much stress can destroy your abilities to make it as a successful entrepreneur, and soon you’ll be approaching self-management with a new appreciation for its importance.

6. You Must Be an Avid Reader

Lots of struggling business owners laugh at the idea of reading books in their downtime, mostly because it’s a time-consuming process that takes them away from their commercial pursuits. Even those who would love to pick up a book every now and again confess that the hectic nature of their daily schedules often prevents them from turning the pages of their favorite novel, magazine, or short story.

It’s nevertheless imperative for entrepreneurs who want to achieve success to read as often as possible, as a voracious appetite for the literary word is one of the common denominators of success in any walk of life.

There are two major reasons to read more in your everyday life: the first is that it will broaden your horizons by introducing you to new and exciting perspectives, and the second is that it will likely increase your overall lifetime earnings.

While most people understand that reading makes you more intelligent, few of them appreciate the extent to which bookworms out-earn their non-reading colleagues. An extensive study found that boys who were surrounded by books from a young age grew up to become men who earned more, on average, than their peers who didn’t have such robust literary roots.[3]

Besides bolstering your paycheck or accounts on bitcoin, becoming a bookworm will also help you hone your writing skills and ability to analyze complex texts. What’s more, reading is incredibly cheap and easy; with a free library card being the only thing you need to enjoy what’s essentially a limitless volume of classical texts and modern marvels of the literary world.

Advertising

Finally, books just make you appear smarter than the average bear, and those who have a hefty leather companion tucked under their arm give off an intelligent vibe. If you want to become a successful entrepreneur, start bringing a book with you wherever you roam.

7. Learn How to Delegate

Another key characteristic of entrepreneurial success is the ability to delegate, as even the savviest business owners can’t do everything by themselves.

If you’re incapable of learning the hidden talents of your employees so that you can delegate specialty work to them when the need arises, you’ll fail to ever maximize the potential of your workforce, something all successful business owners must do sooner or later.

Delegating isn’t always easy for entrepreneurs, especially those who started from the bottom by themselves before clawing their way to the top of the dogpile. But a failure to let someone else take control every now and then can lead to stress-related burnout.

Avoiding burnout is essential if you want to make it as a business leader, as there won’t be anyone else ready to take the reins of your company if you suddenly find yourself overworked and incapable of leading.

Learn how to cultivate talented workers and turn them into clever managers, and your job as an entrepreneur will be much easier than if you tried to do everything yourself.

Take a look at this guide and learn how to delegate: How to Delegate Work (the Definitive Guide for Successful Leaders)

8. Being Decisive Is Key

Many people dread being forced to make an important decision. After all, what if you mess up and the consequences of your poor choice continue to haunt you for years to come?

While it’s perfectly natural to fear making a crucial mistake whenever a major decision must be made, entrepreneurs who find themselves incapable of being decisive when it counts the most are inevitably leading their business towards failure.

As the leader of the enterprise, it’s your role to make the tough calls when the budget starts dwindling and the deadline starts approaching. Some things can and should be delegated to others, but when it comes to being a decisive leader, all would-be entrepreneurs need to stand up and learn how to be decisive.

These tips can help you make better decisions: 5 Tips for Lightning-Fast Decision Making

Advertising

9. Analytical Problem Solving

Far too many entrepreneurs dismiss the importance of analytical problem solving because they mistakenly believe that crunching the numbers is best left to someone else. True entrepreneurs, so this logic goes, focus on big-picture scenarios and don’t allow themselves to get bogged down crunching the numbers.

In reality, however, analytical problem solving is a key characteristic of the successful entrepreneur because we now live in a data-driven age where collecting and analyzing tidbits of information is an essential part of most commercial activities.

Whether you’re selling insurance, designing new software, or working in a myriad of other sectors, having analytical problem solving skills will help you make sense of the ever-growing flurry of numbers that pervades the business world. With big data analytics becoming an ingrained part of the market, these analytical skills will only grow more and more important towards the long-term wellbeing of your entrepreneurial pursuits.

Yes, even entrepreneurs need analytics,[4] so don’t shun that which you don’t understand if you want to earn a profit someday.

10. Eagerness and Spirit

Finally, entrepreneurs can’t discount the importance of eagerness and sound spirit when it comes to pursuing commercial success. As the entrepreneur, an important part of your job is to inspire others and lead the way by example, so having a spring in your step everywhere you go is important.

It’s not always easy to smile when the world around you is full of misery, or when new business hurdles. But remaining optimistic in the face of adversity is the quintessential characteristic of any successful entrepreneur.

Don’t let temporary setbacks put you permanently behind. Eagerness and high spirits are often the last weapons to which entrepreneurs resort to in their darkest hours, yet remaining confident and bold at all times is the real key to success.

Whether things are looking sunny or sour, a positive disposition will carry you far in the commercial arena while inspiring your employees to take heart and keep working their hardest.

The Bottom Line

Entrepreneurs must be self-disciplined, flexible, and capable of relying on others when it’s necessary to delegate. Above all else, however, the key characteristic of successful entrepreneurs is an ability to roll with the punches without ever losing the smile on your face.

More Articles About Entrepreneurship

Featured photo credit: Austin Distel via unsplash.com

Reference

More by this author

Chris Porteous

The CEO of Grey Smoke Media / My SEO Sucks, helping entrepreneurs to grow their businesses.

25 Important Investment Books Every Entrepreneur Needs to Read 11 Reasons Why We Fail to Achieve Our Goals 30 Best Business Books for Entrepreneurs Who Want to Make an Impact 10 Tools to Start an Online Business without Breaking the Bank 11 Organizational Skills That Every Smart Leader Needs

Trending in Featured

1 35 Top Productivity Apps for iPhone (2020 Updated) 2 The Gentle Art of Saying No For a Less Stressful Life 3 What to Do in Free Time? 20 Productive Ways to Use the Time 4 How to Take Notes: 3 Effective Note-Taking Techniques 5 20 Time Management Tips to Super Boost Your Productivity

Read Next

Advertising
Advertising
Advertising

Last Updated on August 6, 2020

35 Top Productivity Apps for iPhone (2020 Updated)

35 Top Productivity Apps for iPhone (2020 Updated)

Over the years here at Lifehack, we’ve discussed plenty of apps that you can use to improve your overall productivity.

There are certain ones that many of our contributors and editors (past and present) have adopted over the long-term — there are always the stalwarts that stick around. But there are also new apps that crop up every day, adding more and more depth to the app category.

Some of the apps are incredibly plain and simple, while others are more robust and offer more features than you can shake a stick at. And everyone has the one they prefer.

It’s been our job (and still is our job) to keep abreast of all of the productivity-type apps out there. As a result — and as a bit of a refresher — we’ve put together a list of 35 best productivity apps for iPhone (all categorized based on their functions) to provide you with an all-in-one resource for you.

For Getting Things Done

1. OmniFocus

This app is, while pricey, considered to be one of the (if not the) most robust and full-featured productivity apps on the market.

Download it here.

    2. Forest

    Train yourself to put your phone down and stay focused on the task at hand by playing with this planting game. It’s fun and will help you achieve more.

    Download it here.

      3. Things

      Another robust choice, this app is a favorite amongst “productivityists”.[1]

      Download it here.

         

         

        4. Any.Do

        A beautiful-looking app that is both easy on the eyes and your wallet.

        Download it here.

          5. PocketLife Calendar

          This calendar app is specifically designed to be stylish and super easy-to-use. You can organize your life easily with different modern features.

          Download it here.

            6. Asana

            We’ve covered Asana here at Lifehack

            , and it is being actively developed by a strong team committed to making collaborative task management a more efficient and effective experience.

            Download it here.

            Advertising

              7. ToDoist

              This app keeps track of everything – from simple errands to your most important projects – so you can get it all done and enjoy more peace of mind along the way.

              Download it here.

                 

                 

                8. Calendars 5

                This calendar app focuses on events that help you to keep track of upcoming events and tasks easily. It has everything you need to organize, track, and complete your to-dos.

                Download it here.

                  9. Clear – Tasks, Reminders & To-Do Lists

                  A fun and innovative list-making app that relies on swiping and pinching to make things happen. Clear created a lot of buzz when it launched, and might be the perfect to-do list gateway app for many.

                  Download it here.

                    10. Due

                    A robust reminders app that lets you store and maintain reminders of all types. It’s replaced Reminders for me when it comes to the basics, and it’s worth a look if you want to keep the mundane stuff out of your head and cluttering your mind.

                    Download it here.

                      11. Checkmark 2

                      I use this app

                      for location-based reminders (such as groceries I need to get or single items I need to pick up from various locations). Checkmark is simple to use and valuable addition to my productivity arsenal.

                      Download it here.

                        12. TeuxDeux

                        Created by Tina Roth Eisenberg and Fictive Kin — TeuxDeux is simple and incredibly stellar in terms of design. If you like lists (including the popular “Someday Bucket”) and want to associate dates with tasks, then TeuxDeux will be right up your alley.

                        Download it here.

                           

                           

                          Advertising

                          13. Nirvana

                          For the GTD enthusiasts, there’s Nirvana. Straight from the source: “Nirvana frees your mind to focus on actually getting things done. If you’ve had enough of generic to-do lists, it’s time for Nirvana.”

                          Download it here.

                            14. Priorities

                            An elegant-looking task management app that has received decent reviews,[2] this could be the one for you if you’re not a fan of OmniFocus or Things — especially if you need (or want) to share tasks with others.

                            Download it here.

                              For Building Habits

                              15. Productive

                              With this app, you can plan your habits with an easy-to-use interface, schedule habits for any time of the day, set smart reminders for each time of the day, and stay on track with useful feedback. This app is perfect for anyone who wants to build a habit that sticks.

                              Download it here.

                                16. Habitica: Gamified Taskmanager

                                You can complete tasks and build habits in a more fun way with this app. Input your Habits, your Daily goals, and your To-Do list, and then create a custom avatar. Check off tasks to level up your avatar and unlock features such as armor, pets, skills, and even quests.

                                Download it here.

                                  17. Streaks

                                  This app follows the model of the popular “don’t break the chain method” in that you use the app to track how you are donig in the pursuit of your goal. Great for goal-setting — and an easy and elegant interface to boot.

                                  Download it here.

                                    18. Remember The Milk

                                    Another popular to-do list app, Remember The Milk has a huge following. It has plenty to offer, including the ability to share tasks with others.

                                    Download it here.

                                      19. Day One Journal

                                      When it comes to journaling, nothing really beats Day One. Its latest update added a slew of features that will make you want to start making journaling a habit.

                                      Download it here.

                                        For Files Organization

                                        20. Evernote

                                        Touted as the world’s most widely-used productivity app, Evernote is an be used simply as a notetaking app or can be customized to be your GTD app of choice — among other things.

                                        Download it here.

                                        Advertising

                                          21. Pocket

                                          You can save an article, video, or link you want to read or watch later to Pocket from anywhere including your computer, Safari, email, and your favorite apps like Facebook, Twitter, Flipboard, and Feedly.

                                          Download it here.

                                            22. Sync.Me

                                            This app identifies unknown phone calls, warns you from annoying spam calls, and adds a caller picture to your contacts from Facebook, Twitter, and Google+.

                                            Download it here.

                                              23. Droplr

                                              One of the most popular file-sharing apps out there today. Straight from the source: “Stay productive on the go. Droplr for iPhone keeps you in sync and makes sharing on the iPhone natural.”

                                              Download it here.

                                                24. Dropbox

                                                Before iCloud, there was Dropbox. And there still is Dropbox, which is still widely used by both Mac and PC users all over the globe. It’s like having a flash drive on your iPhone. A must-have.

                                                Download it here.

                                                   

                                                  For Working Smarter

                                                  25. Captio

                                                  A simple capture tool. Straight from the developers: “It’s simple. Open Captio and start typing. When you’re done, hit Send. The note is immediately delivered to your email inbox.”

                                                  Download it here.

                                                    26. Drafts

                                                    A tremendous capture tool that allows for simple capture, followed by sending items to various applications such as OmniFocus, Things, and more.

                                                    Download it here.

                                                      27. NoteShelf 2

                                                      This is a perfect note-taking app for you. You can take beautiful handwritten notes, type, annotate PDFs, record audio & create lists. You can organize them into categories or groups.

                                                      Download it here.

                                                        28. Doodle

                                                        This app links directly with the Doodle service, which is one that allows you to plan and organize meetings far more efficiently and effectively. Lifehack contributor Steve Dotto has written about Doodle more in-depth here.

                                                        Advertising

                                                        Download it here.

                                                          29. TextExpander (Legacy)

                                                          I have saved countless hours of time with TextExpander, and despite its inability to be as robust on iOS as it is on the Mac, it is still a worthy app to have in your arsenal.

                                                          Download it here.

                                                            30. Launch Center Pro

                                                            A quick launcher for the iPhone that doesn’t just launch an app…with some of them it can do much more. This app saves you time by launching complex actions in a single tap.

                                                            Download it here.

                                                              31. GoodReader

                                                              This may seem to be an odd one to make this list, but here are plenty of reasons why it is here with this article.

                                                              Download it here.

                                                                32. LogMeIn

                                                                Want to be able to control your Mac from wherever you are? Then get this app.

                                                                Download it here.

                                                                  For Improving Security

                                                                  33. 1Password

                                                                  There is simply no better password manager out there. I’ve even put together a 1Password Emergency Kit worth looking at here.

                                                                  Download it here.

                                                                    34. LastPass Password Manager

                                                                    You can store passwords and logins, create online shopping profiles, generate strong passwords, track personal information in photo and audio notes.

                                                                    All you have to do is remember your LastPass master password, and LastPass auto-fills web browser and app logins for you.

                                                                    Download it here.

                                                                      35. Truecaller

                                                                      Identify and block spammers, search for unknown numbers, and call friends easily with this app. With a community-based spam list from over 250 million users, you’ll need this app.

                                                                      Download it here.

                                                                        There are plenty of other options out there (and we’ve heard from readers in the past as to what they enjoyed using), but these 40 are among the best.

                                                                        Featured photo credit: William Hook via unsplash.com

                                                                        Reference

                                                                        Read Next