What makes a successful entrepreneur? This list will certainly have a few things that are your strengths already, but maybe there's a few things you need to improve on. Either way, these are 11 traits that are characteristics attributable to the most consistently successful entrepreneurs.
1 - They dream BIG
Successful business owners have vision for what they can create. They can visualize not only the end result of their effort, but the steps required to get there. They believe in their abilities and are not afraid to push the limits.
2 - They execute
Ideas are a dime a dozen, but actually carrying out one's dream takes guts and skill. Creating something and having demand for it isn't an automatic endeavor. One must know how to create not only a product, but a market for the product. The HOW (how will our new product succeed and become a sought-after product) in value creation is just as important as the WHAT (what our new product is... you think it's the best thing since sliced bread, but is it?).
3 - They take baby steps
Bootstrapping is critical, but it doesn't just deal with money. Yes, your money is limited, but so is your time, your people, and even your energy. Creating and following a plan will make life much easier. Incremental progress is far more sustainable in the long run than a sprint.
4 - They ask for help
Find a mentor. Even the great business leaders of today nearly always have a mentor to which they can confide. Ask people who have achieved what you want to achieve how they did it. Perhaps even people in your same line of business will be willing to help you. Either way, successful people naturally want to help other people who strive for exellence, so there's definitely someone out there who would want to help you.
5 - They spot opportunities
Think outside the box. Some of the most successful ideas were almost laughable when first introduced, but the successful entrepreneurs behind the ideas knew their value and didn't let small minds stop them from achieving big dreams.
6 - They're confident
Fear and doubt are the greatest stumbling blocks to success. Entrepreneurs will find most success when they believe in what they're doing and use their passion to fuel their innovation.
7 - They're nimble
Mistakes are inevitable. The difference between winning and losing in business, is while losers simply fail, winners fail and LEARN. Learning from failure will allow the successful entrepreneur to make necessary changes and get on the right path. Nobody cares about the failures when the end result is a successful venture.
8 - They're not afraid
Risk is inherent in new venture creation. Fear of failure stops many people from even starting a new venture or trying new things. Successful entrepreneurs understand risk, yet they mitigate that risk the best they can while carefully navigating every step in their new venture creation in order to ensure the best possible outcome.
9 - They build strong teams
Surrounding yourself with the very best people is the best way to ensure your success. The successful entrepreneur knows that quality people are crucial to prolonged success. Find people who are even better than you at certain things, and you'll get a lot farther with your new business than you otherwise could have.
10 - They let go
Learn from failure, and let it go. Recognize when you have too much to do, and let go of some responsibilities (delegate!). Successful entrepreneurs know when letting go is the right thing to do.
11 - They learn and do it all again
Successful entrepreneurs are constantly trying to learn more and master their craft. While constantly striving to create successful ventures, the successful entrepreneur will keep getting better and better while recognizing more opportunities for new venture creation. The never ending cycle is where we get the term "serial entrepreneur," which is a person who has refined their ability to create value, and does so over and over again.
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