Estimated reading time: 4 mins
Many workers aspire to be entrepreneurs. Do you have what it takes?
Here are 11 Traits of Successful Entrepreneurs to use to measure if you’re ready to hit the cut and thrust world of the entrepreneur…
1. You enjoy the thrill of risk. A key defining trait of an entrepreneur is the propensity to take risk. It’s what makes an entrepreneur face the uncertainty of business. As an entrepreneur, you lap up the challenge of turning an idea into a working, profitable, sustainable business. It’s scary, but that’s what makes it fun. When you have food to put on the family table, the risk is even higher, but you know that it will be worth it. As an entrepreneur, you get yourself onto the stage without knowing all your lines. You’re taking a calculated risk that your skills and experience will get you through, and the buzz you get from the adrenalin-bomb each time you put yourself on the line is what you live for.
2. You are supremely confident. You’re so confident that unless you’re involved, it won’t happen. It’s that simple! Setbacks are just setbacks – not a reason to doubt yourself.
3. You are a goal-setter. You’ve got to have a clear direction – this is very important to you and your focus. You set yourself goals that are Specific, Measurable, Achievable, Realistic and Timebound (that’s S.M.A.R.T.) You set yourself a lot of goals and often across a number of projects. You can see how goals are linked, and where they have dependencies. You set priorities and you work a plan so that you deliver your goals optimally to provide you with the most residual value.
4. You have inexhaustible determination. If you say you’re going to make it happen, you will make it happen. You’ll try every trick in the book to deliver on your promises (most of which are promises to yourself) and you’ll work tirelessly.
5. You have unquenchable desire. Your determination is fed by the desire to realize the goals you have set. You can see yourself enjoying the fruits of success, and you salivate at fulfilling the opportunity.
6. You maintain a strong vision. All this effort is for a reason, and you know exactly what it is. You see the overall picture of success (and, indeed, this rolls along). You can see that every goal, every activity, every call you make is to take you towards this vision – it’s your visionary path.
7. You are carefully selective. You choose to perform the activities that will take you furthest along your visionary path. Some opportunities, projects or connections – you just know – won’t take you far along, so you choose not to take them on. Even if it means losing out on earning a buck or two. The ‘pain’ of turning away projects can seem acute at first, but over time you’ll see the benefit of using your time and resources effectively.
8. You are organized. In order to control all the moving parts of your entrepreneurial world, you have to be organized. Down to the basics of keeping your book of contacts properly uptodate, as well as keeping your diary in perfect working order. You plan your day to make sure that the priorities are taken care of. Even if organization isn’t something you enjoy, you recognize the value of it.
9. You are disciplined. Procrastination isn’t in your vocabulary – you know what needs to be done and you hold yourself to account. Discipline means you focus on the most important activities and don’t let your mind wander towards trivial matters.
10. You don’t work office hours. Entrepreneurs don’t turn off the entrepreneurial process. You’re constantly creating and assessing new opportunities, new contacts and new information. Every social engagement is another opportunity to develop or elaborate.
11. You keep their ego in check. You’re successful. And hopefully rich. Your name carries weight, and people flock around you. Plenty of sycophants around to fluff up your cushions. But you don’t let this get to your head. You don’t swan around like you own the place, even if you do.
So How Do You Compare?
Share how you compare against these 11 traits – leave your opinion below.
An Entrepreneur’s Toolkit
If you’re serious about losing the shackles of employment and enjoying the serious wealth and adventure of entrepreneurialism, then this is something for you: Entrepreneur’s Toolkit: Tools and Techniques to Launch and Grow Your New Business (Harvard Business Essentials). It’s all you need to get moving as an entrepreneur. The authors demonstrate their experience and expertise of the process of building a business. Most importantly, they know how to get investors interested in a new venture.