Characteristics of an Entrepreneur: 5 Successful Traits

[vc_empty_space height=”20px”]Owning a business that brings in money means wearing many hats. It’s up to you to ensure success going forward, which means either finding a way to do things yourself or finding others who can. 

However, there are also certain traits among entrepreneurs that usually lead to success. Take a look at these common traits among business owners, and try to understand how they lead to business success. Doing so can help you implement key tactics into your own business and plan for future growth. 

Whether you aspire to be an entrepreneur or already have a business of your own (even a side hustle that keeps you busy on the weekends), take a look at these favorable traits. 

Why Personality Traits Matter

No matter your business goals in life or what type of career you want to have, your personality matters. Why? It’s what drives you to success. It’s what decides how hard you’ll work, what you’ll learn, how you’ll train and learn new skills, etc. 

Your personality is so much more than that, though. It determines how you’ll treat your customers, how you’ll train your workers, what types of services you’ll offer, and more. This is only the beginning.

Understanding what you are capable of—and what you’re able to learn—can set you in the right mindset of owning a successful business.

Take a look at these common traits and how they can lead you toward owner growth:

1. Being a Self-Starter

Self-starters get things done. They don’t need anyone standing over them with a checklist. They know what needs to be done, and they get to work. They complete tasks, and then they look for new ones. They can look around and understand what needs to be accomplished. They can also create smaller tasks that work toward an overall goal. 

These are only a few of the things that self-starters have to offer. When looking at all they can get done in a day, it’s no wonder that self-starters make incredible entrepreneurs. In contrast, those who need a boss to help them stay motivated will likely have a harder time getting their ideas up and running. 

Here’s why being a self-starter is great for business ownership:

One, you set the groundwork in motion far before your business even exists. You hit the ground running, and you get after it. You come up with ideas, you find out if they’re feasible, and you turn them into action.

Two, you have a reputation as someone who gets things done. Others will have trust in your ability to move forward. This works in your favor when looking for help (whether that’s manual labor, financial help, or something else) and when looking for customers. Your reputation will make or break your business, and gaining trust from day one can help lead you to success. 

2. Having Creative Ideas … Within Reason

As a future entrepreneur, you have to have ideas to make a business work. You have to come up with the business model, find ways to help customers, and so on. You also have to have the logic to know when an idea can work and when it’s simply too far-fetched to be realistic. 

You can’t create anything too boring or work on the same business that everyone else has already established. This will only lead to you fighting for customers with existing brands. Instead, you need something that sets you apart. You need something that makes you different from what the rest of the world is offering.

However, you have to be able to execute your idea with precision. Your ideas have to be sustainable and repeatable. Anything too adventurous simply can’t be carried out, leaving your business an idea that never leads to fruition. 

In any case, bring in your ideas, but ensure they are ones you can turn into reality. This adaptability is a great way to round out your success as an entrepreneur. 

It’s a fine line, and walking it correctly can bring ongoing growth to your entrepreneurship platform. 

3. Set Your Pride Aside

As an entrepreneur, it’s important to have pride in your ideas. But—in yet another fine line—you can’t have too much pride. Don’t get offended by others’ feedback, and certainly don’t act negatively toward them. This is bad form and a quick way to turn others off from ever working with you.

Business owners need to have thick skin from the get-go. You can’t take it personally when things are said or done about your business or potential ideas. 

In the same light, you need to take it in stride when things go wrong with the business. Things won’t go your way; that’s part of the gig. You’ll constantly work harder or in different ways to make your dreams a reality. Don’t let it get you down. That’s just how it goes. 

Be comfortable with failure. Know it’s not an end state, but rather a better way to move toward the future. 

Setting your pride aside and coming at your business as someone humble and truly curious to learn more will get you far. It ensures that you have earned the most business experience possible and didn’t make any enemies in the process. 

4. Remain Confident

Some people have confidence, and some people create confidence in their own ideas. You don’t have to be a confident person, but you have to believe in your business ideas. Make sense? 

The ability to create this confidence shows how committed to the idea you truly are. It’s a trait that lures in others along the way. As you speak of your excitement, others will be drawn to you and your future business. 

This is a great way to create new customers without even trying. All by believing in what it is that you’re doing—Something you should believe in anyway!

This persistence is key to business growth. Don’t overlook just how far it can help you go. 

From a large business operation to a side-hustle that serves a small niche online, you can rest assured that your great ideas can take you far. 

5. Decisiveness 

Next, as an entrepreneur, it’s essential to make decisions. You have to weigh out the odds and formulate a plan of action based on what’s best for the business. But when it’s time to make a call, you have to feel comfortable making said call. 

Do your research and find out the best next step. By no means should you jump into a decision, but you also can’t avoid answering forever. Land your decision and push it forward. Then stand behind your choice. This goes back to the listed confidence, where you should believe in what you’re doing. 

The same goes for making decisions in your business. Doing so is a great way to advance your skills as an owner and your business as a whole. 

People who can do this make great business owners because they believe in their actions and work hard to push them into action. This trait is a great way to find business success simply by finding forward progress. Even if you do make a wrong move, you can learn from it for the future. 

Start Small and Make It Big

Many traits can lead to being a successful business owner, even when managing a side hustle. Take note of how these traits can help your success as a business owner of any size. 

Understanding how each of these traits works in tandem with your business can also lead to future business growth, just by understanding how planning and your reactions work together. 

Some self-starters can get things done without the need for supervision. There are people who create confidence in their plans and make decisions when they need to be made, all while coming up with creative ideas … and knowing if they are too far-fetched to become reality. Then there’s the ability to have thick skin and take feedback with a grain of salt, not letting it get your goat.

Find your best personality traits and pour them into your business in order to create success from the ground up. Understanding how these abilities are good for your brand can provide even further oomph to your entrepreneur dreams. Then any traits that you may be missing can be learned and honed along the way. 

Sources:

Characteristics of Successful Entrepreneurs | Harvard Business School 

10 Characteristics Of An Entrepreneur That Nurture Success (2018) | JBCN School

8 traits of successful entrepreneurs–Do you have what it takes? | MBDA