The 12 Traits to Entrepreneurial Success

By | September 27, 2015

How often have you either referred to or considered the expression, “Success is a journey and not a Destination?” Probably many times, yet often being in a hurry to get there, we forget that success is not an end unto itself, but is instead an ongoing process.

Though some people seem to have the Midas touch and easily turn everything to gold, most of us have to give our endeavors lots of time, effort and the sweat of our brow before seeing things come to fruition. The simple truth is that the majority of us are simply not born leaders, but become leaders by who we are and the actions we take. Consequently, whether or not you’re an established entrepreneur or just starting out on your journey, there are particular traits you’ll usually find operating within the exceptional entrepreneur. In fact there are 7 particular traits you’ll generally discover deeply embedded within the exceptional and successful businessperson.

If you’ve already taken the plunge as an entrepreneur, you know that it takes a great deal of planning, development and strategic marketing to succeed. At any given time, there are changes to be considered and new directions to examine. In which case, whether you’re the CEO, CFO, Chief Marketer or Chief Solutions Officer of your company, your journey to success is probably full of trials and tribulations.

To support you in your journey to success, be willing to open your mind and sense of reasoning as you consider whether these traits are part of your driving force. If they are not yet ingrained within you, I recommend that you give them some thought.

THE 12 TRAITS TO ENTREPRENEURIAL SUCCESS

Successful-People

1. Successful Entrepreneurs Gain the Respect of their Peers

One of the first and most obvious characteristics you’ll see operating in an exceptional entrepreneur is an equitable and unbiased disposition . Plain and simple the successful entrepreneur recognizes that no one is above or below. With an attitude of respect for others, the successful entrepreneur gains the respect from everyone they encounter. Strategies, attitudes and methods filter down to each person and reflect on all actions and activities. A successful entrepreneur gives everyone the space to be great. No matter how effective or beneficial your expertise, becoming a successful entrepreneur requires building up of your character muscles, traits and habits, which correspondingly make your dreams a reality.

 

2. Successful Entrepreneurs Follow a Plan

The successful entrepreneur follows a plan. Haphazard or trial and error have no place for the triumphant entrepreneur, for no one gets to his or her destination without a map or a guide to follow. That doesn’t mean you won’t go off course if another road seems better, but it’s still more effective to have a plan in place. Most successful entrepreneurs start out by writing a basic business plan that acts as the impetus and guide for their endeavors. It doesn’t have to be fancy or lengthy but it should include marketing strategies, goals, intentions, ideas and why you can do better than your competition. A business plan should be reviewed and updated periodically for each new idea stirs and inspires other ideas.

 

3. Successful Entrepreneurs Believe and Trust in Themselves

The savvy entrepreneur is good at trusting his or her own ideas and instincts. Starting out as an entrepreneur requires persistence, determination and a high level of self-discipline. Continuing as a successful entrepreneur requires even more persistence, determination and self-discipline. The wise and successful entrepreneur knows this and works hard at developing their level of confidence. If you have a strong code of ethics and believe in yourself, then your ideas can work. Having the desire and passion are the first steps on your journey; getting there requires believing in yourself.

 

4. Successful Entrepreneurs Explore Their Exceptional Skills

Successful entrepreneurs realize that we each have our strengths and weaknesses as well as a multitude of skills and talents. Successful people ask themselves often what skills they have that no one shares in quite the same way. An exceptional and successful entrepreneur explores their particular skills until they find the ones that match most closely with their ideal. They don’t try to be and do everything. If the successful entrepreneur needs help, they’re willing to find someone who can do it better, and allows in the support. The successful entrepreneur stays open to change for they recognize that as they move forward, doors open in unexpected places that carry them to their next level of success.

 

5. Successful Entrepreneurs Envision Their Success

The successful entrepreneur gives time to envisioning how they want their business to look and how they want it to be. Intention is a powerful and dynamic tool. For those who are not inclined towards intention and visualization, talk to a successful athlete and you’ll discover that before each sporting event, the successful athlete envisions exactly how he or she wants things to turn out. Imagine what it will feel like when you’ve reached a particular set of goals. Get in touch with the feelings, you’d have as a successful entrepreneur. Practice and conceive of the sense of empowerment and the joy of having succeeded. The successful entrepreneur knows they have the power to live life the way they want, but to make it a reality, they know it has to be seen first.

 

6. Successful Entrepreneurs Think Creatively

Successful entrepreneurs are not afraid of thinking creatively. Whether a business idea has already been tried makes no difference to the exceptional entrepreneur. He or she sees better ways of doing things and knows that every idea can be expanded upon, made better, enhanced or broadened . The successful entrepreneur is willing to think outside or the proverbial box, which means using imagination, trying new things and expanding on a vision. The savvy entrepreneur pays careful attention as to whether a particular strategy is working. If after giving it his or her best shot the entrepreneur realizes the particular strategy isn’t working, they know there’s no point in continuing to invest energy, time and effort in the strategy. They move on to another approach and idea.

 

7. Successful Entrepreneurs Never Give Up

Giving up is never in the vocabulary of the successful entrepreneur. Of course there may be days when a successful entrepreneur feels discouraged or disappointed, but giving up is not an option. Having faith, trust, confidence and determination are the qualities needed for the successful entrepreneur. To keep their focus on track, they seek out the support of those that know them, encourage them and bring out their natural enthusiasm. The smart and successful entrepreneur realizes that there will be good days and not so good days. Being a successful entrepreneur requires accepting the ebbs and flows of business for it is in fact what separates the exceptional and successful entrepreneur from the one who gives up far too soon.

 

8. Successful Entrepreneurs Enjoy What They Do:

What an entrepreneur gets out of their business in the form of satisfaction, financial gain, stability and enjoyment will be the sum of what they put into their business. So if they don’t enjoy what they’re doing, in all likelihood it’s safe to assume that it will be reflected in the success of their business or a lack thereof.

 

9. Successful Entrepreneurs Take Their Business Seriously

Entrepreneurs cannot expect to be effective and successful in business unless they truly believe in themselves and in the goods and services that they sell. Far too many entrepreneurs fail to take their own businesses seriously enough, getting easily sidetracked and not staying motivated and keeping their noses to the grindstone.

 

10.  Successful Entrepreneurs Understand Their Offerings

Entrepreneurs know their product offering inside and out. They also know the marketplace and its dynamics inside and out. Remaining unaware of changing market needs, competitor moves and other external factors can bring even great products to failure.

 

11. Successful Entrepreneurs Learn From Failure

Lest confidence shade into hubris, successful entrepreneurs have to stay humble enough to learn from their experiences—including their mistakes. Some researchers have found that overconfidence can actually be a liability, clouding judgment and creating an illusion of control. That can lead to poor choices.

 

12. Successful Entrepreneurs Have A Clear Vision

Successful entrepreneurs are able to visualize how they want their future to look like. They hold a clear picture of what direction they want their business to take and possess a plan to guide it from conception to realization.

 

About Alex Noudelman

Alex Noudelman is an educator, coach and Digital Marketing Manager with over 5 years of experience. Alex enjoys and strives to motivate others to better themselves professionally and on a personal note. Feel free to contact him if you have any questions or would like a specific topic covered.

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