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5 Key Characteristics of a Successful Entrepreneur

5 Key Characteristics of a Successful Entrepreneur

    I’ve heard a lot of great business ideas lately — and more than a few people announcing that now is the right time to go into business for yourself. I think that there’s a lot to be said for becoming an entrepreneur during a down economy — although the risks definitely go up. With your own business, especially if you hold on to your day job as long as possible, you’ve got more flexibility if you get a pink slip. But starting your own business is certainly not for everyone. There are certain characteristics that can significantly improve the odds of succeeding as an entrepreneur. Without these characteristics, though, it’s hard to do well even with the best of business ideas.

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    1. 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. 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).
    2. 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. If an entrepreneur can handle failure without frustration or anger, he can move past it to find success.
    3. Attention to Detail: 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. 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.
    4. Risk Tolerance: No entrepreneur has a sure thing, no matter how much money 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. An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.
    5. Balance: 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. 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 him at work when necessary, he doesn’t have one to send him home when he’s 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.

    The characteristics I’ve listed below are not characteristics that a person is born with. Some people do seem to have an aptitude for those qualities that make up the entrepreneurial spirit — but they can be learned. They aren’t the easiest things to learn, admittedly, but it’s not impossible. You won’t find classes in these subjects, but you can teach yourself, if you truly want to.

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    Are there any other characteristics you think are necessary? Share them in the comments and tell us why you think a particular characteristic is crucial to an entrepreneur’s success.

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    Last Updated on July 31, 2018

    40 Top Productivity Apps for iPhone (2018 Updated)

    40 Top Productivity Apps for iPhone (2018 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 40 best productivity apps for iPhone to provide you with an all-in-one resource for you.

    Productivity apps to help you get 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. 30/30

          Recently covered here at Lifehack

          , 30/30 is a newcomer to the game that incorporates lists and timing of tasks into an elegant and easy-to-use interface.

          Download it here.

            5. Any.Do

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

            Download it here.

              6. 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.

                7. 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.

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                  8. 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.

                    9. FlowTasks

                    From the folks at MetaLab, Flow is a gorgeous collaborative task management app that is easy-to-use and incredibly functional.

                    Download it here.

                      10. 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.

                        11. 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.

                          12. 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.

                            13. 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 a valuable addition to my productivity arsenal.

                            Download it here.

                              14. TeuxDeux

                              Created by Tina Roth Eisenberg and Fictive Kin — Teux Deux 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 Teux Deux will be right up your alley.

                              Download it here.

                                15. Wunderlist 

                                Another incredibly popular choice is Wunderlist. Part of 6Wunderkinder’s software family, it sports a gorgeous design and is incredibly functional. We’ve talked about the app a couple of times here at Lifehack, so check those posts out here.

                                Download it here.

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                                  16. 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.

                                    17. 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.

                                      Productivity apps that help you build habits

                                      18. 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.

                                        19. 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.

                                          20. 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.

                                            21. 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.

                                              22. 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.

                                                Productivity apps that makes organization easy

                                                23. Evernote

                                                Touted as the world’s most widely-used productivity app, Evernote 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.

                                                  24. 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.

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                                                    25. 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.

                                                      26. 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.

                                                        27. 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 in your iPhone. A must-have.

                                                        Download it here.

                                                          28. iDolly 

                                                          In conjunction with Dolly Drive and DollySync, iDolly allows you to edit and share your documents from your iPhone.

                                                          Since all your changes sync automatically to all your devices, the current version of a document will always be accessible because Dolly Sync keeps everything in sync. Very handy.

                                                          Download it here.

                                                            29. Soulver

                                                            It may seem odd that a calculator app shows up on this list, but this is no ordinary calendar app. Ben Brooks over at The Brooks review describes Soulver as follows: “It is what calculators would have been if they were invented at the same time computers were, instead of what we have with most calculator apps.” [3]

                                                            Download it here.

                                                              Productivity apps that help you work smart

                                                              30. 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.

                                                                31. 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.

                                                                  32. 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.

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                                                                    33. 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.

                                                                    Download it here.

                                                                      34. 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.

                                                                        35. 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.

                                                                          36. 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.

                                                                            37. LogMeIn

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

                                                                            Download it here.

                                                                              Productivity apps that improve security

                                                                              38. 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.

                                                                                39. 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 autofills web browser and app logins for you.

                                                                                Download it here.

                                                                                  40. Truecallers

                                                                                  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.

                                                                                    Reference

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