Top Ten Traits of Successful Entrepreneurs

This article is contributed by Lily Scherbatsky.

Those considering opening their own business often wonder whether or not they have what it takes. After all, just about anyone can start a business but not everyone can end up with a successful one. And as anyone who has failed will testify, failure is usually pretty expensive.

entrepreneur questioning is this for me

If you look closely at most successful entrepreneurs, they usually have a number of personality traits in common. Traits which when combined with a new business tend to result in a higher likelihood of success.

Should you be considering opening a new business, you should probably be hoping to see a few of them in yourself. I will now outline ten personality traits that I have identified as being pretty common when it comes to successful entrepreneurs.

1. They Don’t Fear Failure

Successful entrepreneurs don’t throw caution to the wind, but they are willing to take risks. They don’t want to fail but they accept that even if they do everything right, failure may still find them. They do not fear it. They believe that to be successful in most areas of business, you must risk failing.

2. Goal Orientated

Successful entrepreneurs understand the importance of weekly and monthly accomplishments. They know that serious long term success is based upon the on time completion of short term goals. They know that if they fall behind on such minor tasks, a snowball effect will occur and long term accomplishments will be put into jeopardy.

3. Passionate

Passion is essential if you want to make it as a business owner. If you are going to give something all that you’ve got, you need to be passionate about it. Don’t get me wrong, money is a powerful motivator. But financial interests alone will never get you to where you need to be. Successful entrepreneurs tend to have a lot of passion.

4. Competitive

Most successful entrepreneurs are, by their very nature, competitive people. When they play sports, they desperately want to win and when they start a business, they desperately want it to succeed. They are also not shy when it comes to voicing their own products superiority over those of the competitor.

5. Natural Leaders

Successful entrepreneurs tend to be excellent leaders. Leadership skills are of course incredibly important when it comes to running a business. The best business owners are those that know how to get the most out of their employees. They know how to motivate, influence and inspire.

6. Not Arrogant

Confidence is important when it comes to success in business but the same can certainly not be said for arrogance. Successful entrepreneurs accept that they don’t know everything. And in doing so, they are able to ask for both help and advice when they need it. They accept that they are sometimes wrong and they do their best to surround themselves with people who aren’t afraid to tell them when they are making a mistake.

7. Strong Work Ethic

One obvious requirement of being a successful business owner is that you are a hard worker. If you are not willing to arrive early and stay late, it’s highly unlikely that you have what it takes to really make it as a business owner. The first year in particular is characterized by endless hours of hard work with little to no reward. Successful entrepreneurs are able to handle such hours because they have a strong work ethic.

8. Excellent Communicators

Between attracting investment, dealing with employees and of course customers, strong communication skills are another must have personality trait. Most successful entrepreneurs are natural communicators that have always had a knack for influencing those around them. It is often these very communication skills that make entrepreneurs good managers.

9. Strong Time Management Skills

Most successful entrepreneurs are like wizards when it comes to time management. They know how to multitask but they also know when to throw multitasking out the window. They often manage to meet impossible deadlines because they know how to maximize the limited time available to them. They also tend not to daydream very often.

10. Determined

Finally, successful entrepreneurs are nothing, if not determined. When something goes wrong, they don’t wallow in self pity. They get back up, dust themselves off and try again. They believe that they are destined to be successful and they have no intention of stopping until they get there. Do you believe that you are destined to be successful?

Author Bio: Lily Scherbatsky is an employee of an offshore marine management company and a very famous blogger. To find more valuable details regarding Offshore company registration click on the mentioned link.

Photo credit: Courtesy of  s_falkow via photo pin cc

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One thought on “Top Ten Traits of Successful Entrepreneurs”

  1. Great list of traits that are inherent within successful entrepreneurs. The most telling trait in my opinion is the first trait in your list, “They Don’t Fear Failure”. And when they do fail, they know how to fail fast and move on or around the issue at hand.


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