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15 Completely Vital Entrepreneurial Qualities

15 Completely Vital Entrepreneurial Qualities

Many, if not all, of us would much rather work for ourselves than someone else. However, being your own boss and sustaining your own business or products, is a challenge not all of us are ready to face. So, what does it take to truly stand out and be successful? Many current entrepreneurs have plenty to say on the topic, and others simply live by the habits one needs. To get an idea for the qualities you could cultivate, we gathered 15 absolutely indispensable entrepreneurial qualities.

You Have Passion

Passion is easily the most common of the entrepreneurial qualities. Whether you start off rich or poor, educated or not, every business leader must be passionate. Even if you’re starting off in an area you feel is not your calling, it is crucial you follow through with your goals with passion. Take Cameron Johnson for example, a multimillionaire entrepreneur who made his money creating websites.

“I realized after the printing business, as I moved on to other businesses, that it was a real passion of mine and I knew it’d guide me in life”, he says. Embarking on being an entrepreneur in any business will involve incredible levels of competition, and passion is often a deciding factor in pulling ahead. 

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    You Work Hard. Very Hard.

    Plain and simple, hard work is another completely pivotal ingredient to true success. While some breakthroughs might require timing or well informed decisions, nearly every challenge you face as an entrepreneur will require hard work. Don’t be afraid to truly immerse yourself in your goals, and get your hands dirty.

    You Are Confident

    Along the way to success, you are undoubtedly going to run into naysayers. Regardless of how intellectual or persistent your detractors are, an entrepreneur keeps going. Even if there are bumps along the road, confidence in an idea is among the crucial entrepreneurial qualities.

    You Persevere

    Hand in hand with confidence is perseverance. Another indispensable entrepreneurial quality, an entrepreneur must persevere under all conditions. Challenges are sure to arise on your way to success, but the ability to overcome them will set you apart from the rest. Entrepreneur Jan Koum, for example, is best known as the creator of WhatsApp, which was acquired by Facebook for $19 billion. Jan created the app at age 33, but first had to overcome a childhood of scarcity in the Ukraine. Additionally, after going to university, Jan was rejected from working for Facebook, shortly before creating WhatsApp. This is proof that working through difficult circumstances often comes immediately before success.

    You Keep Your Mind Open

    If you are looking to cultivate entrepreneurial qualities, another necessary one is open-mindedness. Often times, entrepreneurs’ most successful ventures come from unexpected sources. As an entrepreneur, you need to be willing to look outside the box.

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      You Have Courage

      Sometime the challenges entrepreneurs face are downright terrifying. In order to succeed in an uneven, ever-changing atmosphere, entrepreneurs must be able to pursue good ideas and decisions, even when their gut screams no. Being able to overcome fear is a sometimes daily skill an entrepreneur must use.

      You Are A Forward Thinker

      Much like keeping your mind open, another crucial entrepreneurial quality is forward thinking. To be successful as a leader, one must pursue ideas that bring them into the future. Once a need is obvious, other businesses will be eager to fill it. By thinking into the future, entrepreneurs identify opportunities before others. Self-made mogul Jessica Huie, for example, felt typical card companies ignored racial diversity. She created a card company to fill the gap, and quickly found success. By identifying a need others didn’t see, Jessica moved forward. In pursuing opportunities first, an entrepreneur can start a step ahead of competitors.

      You Ask For What You Want

      Whether it’s an improved contract or a start up investment, entrepreneurs eagerly go after what they want. Don’t wait around for others to show interest in your ventures, entrepreneurs go after what they need. An entrepreneur must know what will drive their business forward, and actively pursue it. As an entrepreneur, by simply asking for what you want, you will be more likely to find it.

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        Vision

        Along with being forward thinking, entrepreneurs tend to have a strong vision. By knowing what you want, from beginning to end, you will be better able to break your venture down into achievable steps. Having a strong vision will also help inspire the people who partner with you and work for you. Just as crucial to a business’s success as a leader who knows where they’re going, are employees who eagerly pursue the dream too. Vision, and committing to your vision, are important entrepreneurial qualities.

        You Are Flexible

        Flexibility is another crucial entrepreneurial quality. As anyone knows, things don’t always go as planned. This is especially true in business, as leaders and entrepreneurs must be able to adapt. When something unexpected throws a wrench in your venture, an entrepreneur is responsible for getting things back on track. If you are willing to compromise and quickly adapt to new situations, you will be more likely to keep small bumps in the road small, instead of growing them into failures.

        You Can Throw Out the Rule Book

        While learning the rules is often the first step in becoming an expert, a successful entrepreneur knows when to break them too. A healthy disregard for the rules can sometimes make the difference between success and failure. Colin Thornton, a South African entrepreneur, started his successful company after dropping out of post-secondary school. Colin didn’t let leaving school hold him down however, and is now worth around $10 million. By ignoring the right rules when the time comes, you may be in a more advantageous position.

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        You Are An Expert At Money Management

        No business or venture can be successful if more money is spent than earned. It’s absolutely necessary then, that an entrepreneur can manage money well. Especially if an entrepreneur is starting out with little funding, it’s likely a professional accountant will be too expensive. If you’re trying to improve your entrepreneurial skills, money management is a necessary key.

        You Study 

        It doesn’t matter if you are formally educated or not, an entrepreneur never stops learning. The better a person is informed, the better their ability to make strategic decisions. Whether you feel knowledgeable about your venture or not, new developments happen every day. Keeping utterly up-to-date on new techniques and competition is often the difference between moving forward and falling behind. Studying is another one of the crucial entrepreneurial qualities.

        You Immerse Yourself in New Technology

        Oftentimes, the best entrepreneurial opportunities lie in emerging markets, where there is less competition. Pulling ahead of the pack is often best achieved by concerning yourself with new technology. No matter the industry an entrepreneur pursues, there is undoubtedly new ways of doing things. Experiment with new technologies to deliver your business to your customers if you want to gain an edge. 

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          You Are Ambitious

          Ambition is another essential entrepreneurial quality. Not only will ambition bring you new opportunities, ambition is crucial for overcoming challenges. If you don’t have established goals as an entrepreneur, you are more likely to grow comfortable and settle for surviving, instead of thriving. Ambition is an entrepreneurial quality that provides momentum to your ideas and passion. Let your drive move you forward, and there’s no telling what you can achieve.

          Featured photo credit: Philippe Put via flickr.com

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          Last Updated on February 15, 2019

          How to Achieve Goals and Increase Your Chance of Success

          How to Achieve Goals and Increase Your Chance of Success

          Does it ever feel like the things you want to accomplish always end up on the back burner? If the answer to that question is “yes,” you’re not alone. Only about 33% of people consistently work toward their goals. In some cases, their goals may seem too lofty to accomplish, or else they aren’t sure how to make a plan for them.

          If you don’t come up with concrete steps to take toward your goals, they’ll remain dreams. There’s nothing wrong with being a dreamer, but being able to turn your dreams into goals you can realize will help you lead a happier and more fulfilling life.

          Luckily, you can realize almost any dream when you harness the right goal-setting methods.

          In this article, I’ll show you how to achieve goals and get closer you success.

          1. Break your dreams down into specific and measurable steps

          We couldn’t talk about goal-setting without mentioning SMART goals.

          SMART goals are specific, measurable, assignable, realistic, and time-related.

          Specific and measurable steps are so important because if we don’t know what our target it, how can we ever hit it?

          Take all those beautiful dreams you have for yourself and make them into things you can actually do. If you want to be an entrepreneur, for example, a step toward realizing your dream might be researching what you’ll need to start your business.

          Find out more tips about utilizing SMART goals here:

          How to Use SMART Goal to Become Highly Successful in Life

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          2. Have at least one clearly defined goal for every interest and role in your life

          It’s so easy to become complacent or stagnate. We often think that our careers are the only places where we need to set goals, but we aren’t only what we do.

          To make the most of your life, take the approach that you’re always learning and growing in everything you do. Anything worth doing is worth doing well after all.

          Set goals whether you’re sponsoring an activity for your child, taking up guitar lessons or trying to prove your worth at work.

          You’ll notice that this approach forces you to constantly develop new skills. It can also be fulfilling to put more focus and value into all areas of your life— not just the ones related to our careers.

          3. Align your goals with your life’s mission, purpose and passion

          Take the opportunity to do some soul-searching. What is it that you want to do with this precious life of yours?

          Anything that conflicts with your life’s purpose is bound to cause discontent. Staying in a bad relationship, doing a job that goes against your values, or maintaining the status quo just because it’s comfortable are not options for you.

          Thinking about your goals in this way can help you eliminate things in your life that don’t serve you. This frees up mental space that you can use to do the things you care about the most.

          Many of us struggle to find the time to work on our goals, but this strategy enables you to make more time.

          4. Create goals that ignite your spirit and inspire you to take action

          If you can’t be fired up about your goals from the start, they might not be good goals for you.

          The road to success is often tough. You’re going to have times when you might feel tired or discouraged.

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          You need to feel inspired enough that you’ll be able to overcome obstacles as you encounter them.

          If what you’re doing motivates you to be the greatest version of yourself, you’ll be much more resilient.

          5. Write down all your goals in specific, measurable detail

          This is your road map for what success will look like. The more you define what you want the finished product to be, the greater the chance that you’ll reach that vision.

          When you write down your goals, you’re creating a document that you can revisit to make sure you’re on track.

          When you’re in the middle of trying to achieve a big goal, it can be hard to see what’s working for you. The things you write in this step will help you stay on-message as you take your goals out of your mind and into the real world.

          Don’t just write down your goals and stash them away in a folder somewhere. Take the extra step to put them somewhere where you’ll see them.[1]

          If you have too many goals to post on your desk, write a summary or choose one or two steps to work on for the day. Just seeing them will keep them in the front of your mind.

          6. Commit to hitting each of your targets without exception

          You wouldn’t have created the target if you didn’t think it was necessary. Hold yourself accountable for taking the steps to succeed.

          You can always adapt your strategy or break your targets into smaller steps if you find that they aren’t attainable as you originally wrote them.

          Hitting even the smallest target is cause for a celebration. It’s a step in the positive direction. Your success will make you crave more success.

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          We often make excuses when we get tired or overwhelmed. Take away the option to make excuses. You will only be satisfied with the best effort from yourself.

          7. Share your goals with others to motivate each other

          There’s something so powerful about people sharing their goals and dreams with one another. Doing so gives voice to some part of us that could remain hidden (and therefore never be accomplished).

          When other people know about your goals, they can cheer you on and hold you accountable. When people share their vision with you, you can do the same for them.

          This strategy is particularly beneficial when you’re trying to develop healthy habits. Post about your workout on social media, or do a healthy eating challenge with your best friend. You’ll be less likely to slack when temptation arises, and you’ll probably encourage someone else to reach for their goals too.

          8. Set a series of daily, weekly and long-term goals, complete with starting times and deadlines

          Many goals never reach realization simply because the goal-setter doesn’t check their progress. People tend to forget what they set out to do, or their goal gets crowded out by other obligations.

          Forcing yourself to revisit your goals at regular intervals breaks them into smaller steps and it reminds you to think about them.

          Giving yourself regular deadlines for smaller tasks related to your goals also helps you reflect on your strategy. You’ll figure out what works for you, whether your timeline is realistic, and whether or not you need additional help to stay on track.

          In addition, celebrating small wins helps you stay motivated. Here’s how:

          How To Celebrate Small Wins To Achieve Big Goals

          9. Take 10 minutes every day to imagine how great it will feel to achieve your goals

          Visualization is such a powerful tool. Some of the most successful athletes, celebrities and business people take time each day to think about how success looks and feels for them.[2] Imagining that feeling of satisfaction can be a great motivator.

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          When you do meet your goals, take some time to be grateful. Thank yourself for showing up and doing the work. Be grateful when the stars align properly to help you advance to the next step.

          It’s not just getting to the destination of your goals that matters. How you take the journey is important too.

          10. Take an action step toward reaching your goals every day

          Your goals can easily get buried in the hustle and the bustle. Even the smallest step in the right direction is still moving you forward.

          Keep chipping away at the work every day and before long, you’ll start to see those dreams come to life.

          Maybe you didn’t start your business today but you designed the logo that’s going to go on your website and business cards. Doing that task well is going to help you so much in the long run.

          Concrete actions day by day draw your dreams out of obscurity and into the realm of possibility.

          The Bottom Line

          Dreams can inspire and overwhelm us. By turning our dreams into goals that we can work toward, we increase our chances of success. Things that once seemed impossible are suddenly within reach.

          It’s time to start turning your dreams into goals and your goals into realities. Change begins today.

          More Resources About Setting & Achieving Goals

          Featured photo credit: Andrew Neel via unsplash.com

          Reference

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