7 Qualities of a Successful Entrepreneur

There are many factors that can contribute to the success of a business owner as they launch, operate, and scale their business. These factors can include the timing of their launch, how competitive the market is, the current economic climate, and much more.

Regardless of these factors, there are traits that set successful business owners apart from the rest. Harnessing these skills allows them to turn their business ideas and dreams into profitable realities. Let me share with you the 7 qualities I believe every successful entrepreneur should have.

#1 Courage

Building something new takes courage. Starting a business comes with the risk of failure, rejection, hard times, stepping out of your comfort zone, and other possibilities. Courage is what allows you to take action toward your goals despite being afraid of the risks.

Take action: whenever you have something you want to try or do but you’re too afraid, ask yourself — what will I miss out on if I don’t try? Then ask if you’re willing to miss out on that because of fear. Often your goals will outweigh the fear, and you can take action!

#2 Vision

The greatest creations and inventions always begin with a vision of what’s possible. Successful entrepreneurs build a strong vision in their minds and use it to guide their actions and light the path toward creating the new reality they have imagined.

Take action: start by imagining your ideal life in the future, what would that look like, and what’s different from now? Imagine how it would feel to be there and look back on yourself today. You start to build a picture of what your life could be and what steps you need to take to get there.

#3 Curiosity

Curious people seek out new skills, and their curiosity propels them forward — they are always looking to sharpen their understanding and gain new insights, they love to be challenged and are open-minded about hearing different ways to do things.

Take action: think about a situation or topic you don’t fully understand. Try to understand both why and how things work. Always look for new perspectives and learn new things.

#4 Creativity

Running a business is trial and error. To solve some of the problems you face, you sometimes require creative solutions that lead to new opportunities. Creatives are also more comfortable dealing with failure.

Take action: think of a problem you currently face that has you stuck. Brainstorm a list of ways that would get you unstuck, write anything and everything down (mind mapping is a good way), and think through each pathway to train your brain to creatively find the solution.

#5 Empathy

Having empathy helps you create products and offers that people need, and share messages that connect with and move people. Showing empathy puts you in a great position to communicate in a way that is meaningful and impactful to others.

Take action: find someone you’re struggling to connect with, your audience, a peer, or someone else. Put yourself in their shoes and seek to understand and care about their thoughts and emotions.

#6 Resilience

All entrepreneurs face failure and rejection, the successful ones are the people who didn’t give up. Learn from your failures, overcome your fears, get back up and try again.

Take action: if there’s something you’re discouraged about or you’re thinking about quitting. Remind yourself of your vision for the future, and the goals you’ve set. Remind yourself of what’s possible if you are resilient.

#7 Patience

Overnight success in business is a myth. It takes hard work to be successful, but only if you stick with it long enough to see the results. Patience does not mean being lazy and waiting for things to happen but continuing each day to think of the bigger picture.

Take action: think of something you’re frustrated about not having, doing, or being yet. Much like with your vision, think about yourself in that situation and what steps it will take to get there. Remind yourself that you’re on the right path, it just takes time.

Do you have what it takes?

Entrepreneurs are a special type of person. They see opportunity in every slow service, poor product and unmet need. But here’s the secret of the successful business owners — they are made, not born. You had to learn to be great at what you do, and these qualities are just another skill set you have to master.

If you’re missing a few (or even all) of these traits, don’t be discouraged. Start where you are and commit to getting a little bit better every day. All you need to get started in business is the desire to make it happen, but these personality traits are sure to give you an edge.

What would you add to this list? Are there any other skills that have helped you become a successful business owner?

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