Tag: characteristics of successful entrepreneurs

What are the qualities and characteristics of successful entrepreneurs? Entrepreneurs have various traits which set them apart as business people with a mission. Not all entrepreneurs are successful though. Some are simply ‘risk takers’ who get a thrill out of the chase. Those that have the focus and drive to never give up, to lead by example and to have a mission larger than money tend to do the best.

Around 1980, Bill Gates gave Microsoft, the company he founded, a clear mission: “A computer on every desk and in every home.” He later founded The Bill And Melinda Gates Foundation to enhance healthcare and reduce extreme poverty… to expand educational opportunities and access to information technology.

Successful entrepreneurs tend to be tenacious and determined at some specific activity in business. They like a challenge and are prepared to do what others aren’t to achieve a different kind of success. They see things differently to most and are prepared to accept hardship in the short term, to come out on top in the long term.

Qualities and Characteristics of Successful Entrepreneurs

Entrepreneurs have a variety of characteristics which enable them to succeed at certain endeavors. Most people won’t go through what an entrepreneur will. Entrepreneurs are hard working and disciplined but are also risk takers. They don’t accept the status quo and want something different to most. They are motivated by self belief rather than instant results, and can see a larger picture of who they want to be in life.

Self Motivated

Entrepreneurs have to be very good at motivating themselves – without someone ‘cracking the whip’ at them. They don’t want to be an employee and this means working for themselves in many cases. Working alone often means having to be very self motivated since no-one else is there to motivate you.

Building a business takes a lot of time and energy and also risk. Working on something without immediate reward or an obvious immediate outcome is tough. So, self motivation is usually a major requirement for an entrepreneur. It can often be a large vision or purpose which drives an entrepreneur to push themselves to achieve something, often for a reason other than simply financial gain.

Passion

Unless you find something you are passionate about, it’s very difficult to focus on it with entirity. Entrepreneurs find something they are passionate about and work very hard at it for a long period of time. If you’re passionate about something it’s not like ‘work’ though. Working hard at something you love is different to working hard in a job you hate or even for a boss you don’t like.

“The greater danger for most of us lies not in setting our aim too high and falling short, but in setting our aim too low and achieving our mark.” -Michelangelo, Artist

No matter how hard you work as an employee, you’ll still be an employee at the end of the working week, month, year etc. Entrepreneurs work longer hours and harder even for no immediate pay cheque because they are working for something different. They work for independance, self employment and financial freedom instead of a weekly paycheque and the assurance of ‘more of the same’.

“Choose a job that you like, and you will never have to work a day in your life.” -Confucius, Philosopher

Self Awareness

Self awareness is something entrepreneurs need in order to move their business forwards. They are open minded risk takers, but self awareness can give an entrepreneur the edge. Of all the qualities and characteristics of successful entrepreneurs, self awareness can be the most useful. Without self awareness a business can stagnate and be limited because of its owner.

The ability to look at a business and see its shortcomings is a valuable asset to any business. To be able to ‘tweek’ and alter parts of what you are doing in business can mean the difference between success and failure. Seeing things differently and having the flexibility to change when things aren’t working, is an important skill. See how do millionaires think.

Integrity

An entrepreneur builds their business on trust and through others. Without a good, strong moral compass and honesty and integrity, people won’t trust you or want to work with you or do business with you. Your character is one of your most important assets in entrepreneurial life. People will buy from you if they trust you and your business will be built on your character, not just the physical workings of your enterprise.

Driven By A Primary Focus

What are the qualities and characteristics of successful entrepreneurs? Are they all focus driven perfectionists? A primary objective is the key to many successful entrepreneurs. Being focused on a single activity or mission means you can generate better outcomes than by spreading your resources over many topics.

“The secret of change is to focus all of your energy, not on fighting the old, but on building the new.” – Socrates, Greek Philosopher

Perseverance

“I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.” –Steve Jobs, Co-Founder of Apple

When most have thrown in the towel, successful entrepreneurs carry on regardless. They persevere because they know the real rewards are still waiting. It might just be a small alteration in their activities which makes all the difference.

Risk Takers

On of the main characteristics of entrepreneurs is their ability to take risks. They are not afraid of trying something new or altering their behavior to create better results in their lives and be in command of their own destiny. Risk takers get bored in humdrum jobs and careers and are always looking for something else.

“A person who never made a mistake never tried anything new.” – Albert Einstein, Physicist

What are other qualities and characteristics of successful entrepreneurs? Please comment below with any ideas.