Top 5 characteristics of successful entrepreneurs
If you are an aspiring entrepreneur and new to the whole entrepreneurship thing, learning the successful characteristics of other successful entrepreneurs is crucial for you to know. In this article, you’ll learn the five essential characteristics that you need to have, as well as how to develop them so you can begin your entrepreneurial journey the right way.
1) Problem Solvers
All entrepreneurs number one trait or characteristic is that they are problem solvers. Every single last one of them. If they are not solving a problem for someone, no one would buy their products or services. Even luxury brands solve a problem. They provide status symbols, uniqueness, and exclusivity to their products which solves the problem they have of wanting to be original. If you are looking to develop your problem-solving skills, you can further read these resources on solving problems for business ideas.
2) “Morning Rituals”
Every successful entrepreneur has a morning ritual. They claim they are very important to how they will perform for the rest of their day. Having developed one myself, I could see the benefits in only a few days. The morning rituals are designed to give you time to do the most important things in your life. For some successful people, this meant working on their business before going to their full time job.
For others, it was meditation time, or the perfect opportunity to get some reading done when it is quiet. By starting the morning doing things you want to do, you give yourself the control you need to have a more fulfilled life. This fulfillment can translate into gratefulness and you will start seeing more success on a daily basis.
This becomes an especially important characteristic when you want to start your first business, as you will probably have a full time job so utilizing your time correctly is important. Incorporating a morning ritual to work on your business ideas will help you think of that one you can launch later.
3) Challenge their fears
It may seem like some of the greatest entrepreneurs like Bill Gates, Steve Jobs, and Tony Robbins don’t have fears. But that is just what the media portrays. The truth is, those great entrepreneurs have faced more doubt and fear than you can imagine.
It is not discussed significantly so their fears go unnoticed. Imagine when Tony did his first presentation to his first crowd? Or when Bill made his first pitch to investors about the Microsoft. They were both very terrified in those moments and had a lot of fear for the outcome. However, they didn’t let it hold them back.
They powered through in those moments, and it not only allowed them to grow more as people, but they were able to bring that successful momentum forward to challenge new fears. I bet Bill Gates was still fearful when he took Microsoft public with an IPO, forever giving up real control of the company. But he still did it anyway, and facing their fears when there is risk is really where entrepreneurs make their money and have success.
To be a successful entrepreneur, you need to possess the characteristics and strength of being consistent. Day after day, you need to be willing to work on yourself, your business, and your relationships. It is usually not mentioned to work on yourself or your relationships, but I think it is just as important as spending time on the business.
Consistency is what brings many entrepreneurs success. You don’t have to be making big deals every day or run yourself until you burn out. Consistency that leads to success can be related to climbing a set of 10,000 stairs, by taking one step at a time. Although it seems like a lot, if you do a little each and every day you will eventually get there. And, it isn't until you’ve got there that people start to notice you.
Do you think Steve Jobs became famous when he was fired as CEO from Apple in the 1990s? Probably not. He was consistent that he would get that seat back and change the company into the powerhouse it is today. Everyday he worked toward that goal and it brought him the success you now know him as.
5) Open to Feedback
The last extremely important characteristic you must have as an aspiring entrepreneur is always being open to feedback. Think of it this way. If you are not open to feedback, then how will you improve yourself or your business? Feedback can kill you or make you.
So it is important to know what feedback to listen to. For example, a random stranger telling you your business idea sucks is not feedback you want to follow. However, feedback from a potential customer is something you need to listen carefully to, and not listening is actually a common mistake when thinking of business ideas.
A business isn’t created to serve you, it is created to add value to others, and if you don’t listen to what important other groups have to say, you can kiss your aspiring entrepreneur dreams away.
Now that you know some of the top characteristics that all successful entrepreneurs have. You are ready to apply some of the tips and tactics explained in this piece so you too can become a successful entrepreneur. My last tip to you is to take action.
Don’t read this and go back to living your life how you used to. Take at least one of these points and try and apply it in your life over the next week. See the amazing results you get, and try another tip. This is how successful entrepreneurs operate. Best of luck!