one. Successful Entrepreneurs are proactive learners
After understudying the lives of successful entrepreneurs, i have been able to pinpoint 12 traits that make them successful. Without wasting your time, below are the 12 traits of successful entrepreneurs:
They read industrial journals, books and magazines. They attend seminars and update themselves regularly with the latest industrial trend. Successful entrepreneurs know that their cup is never full; they know that they don't have the right answers to all questions. So they humble themselves and learn when availed the chance.
Entrepreneurship is a life long process and successful entrepreneurs know this. Things change so fast in the business world; you could be an innovation today and become obsolete tomorrow. To stay on coursework and change swiftly to the ever changing trend, successful entrepreneurs keep studying and learning.
I have never seen a successful entrepreneur who rose to the head of success without a measurable amount of risk. Successful entrepreneurs are risk takers; they risk their time, energy and resources with the hope of building a powerful business. In the event that they fail, they risk losing everything they have ever owned. Risk is the main reason lots of employees fail to start a business.
two. They prosper on risk
Working at no cost is of the traits of successful entrepreneurs that set them apart from others. It is hard to find individuals who will be willing to work at no cost, without pay for lots of years but successful entrepreneurs do this. They work on their business for lots of years without pay.
two. They work at no cost
five. They work longer hours than employees
Being an entrepreneur, i can attest to this trait because i have built businesses without getting a dime from them for some years. All profits generated are re-invested in to the business. To be a successful entrepreneur, you must always bear in mind that you are not building a job for every month pay. In lieu, you are building an asset that can generate residual income for you and add value to humanity in the approaching years.
Successful entrepreneurs are known for their weird resilience and long standing dedication to the coursework of building a business. Building a business is never simple and it requires time and dedication. Some entrepreneurs are known to work for 70 - 80 hours per week while average employees work less than that.
So in the event you are going to join the league of successful entrepreneurs, then you definitely require to create the trait of working longer hours than normal.
two. Successful entrepreneurs learn quickly from mistakes
Of all the traits of successful entrepreneurs, this interests me the most. Lots of individuals shy away from the game of entrepreneurship because of the fear of making mistakes. They perceive mistakes as bad because mistakes sometimes cost funds and pain; so they avoid it like a plague. But successful entrepreneurs see mistakes as a learning tool; they see it as a chance to learn something new.
Successful entrepreneurs make mistakes in business but they don't quit. They know mistakes are part of the process of entrepreneurship, so they learn quickly from these mistakes and move on. In the event you are being held back by the fear of making mistakes, i will recommend you read the news story "How to learn from your mistakes in business."
"Even a mistake may turn out to be the thing necessary to a worthwhile achievement." - Henry Ford
6. They have the ability to run on debt
"Excuses cost a dime and that is why the poor can afford lots of it." - Robert kiyosaki
"Be cautious when you take on debt. In the event you take on debt personally, make definite it is small. In the event you take on giant debt, make definite someone else is paying for it." - Rich Dad
As a rule of life, they are all indebted to someone in way or the other. With respect to building a business, i have never seen a successful entrepreneur that has not been in debt. Everyone owes but successful entrepreneurs know how to make use of debt to their advantage, they know how to make use of debt as an device and leverage to build a business and get richer.
Successful entrepreneurs are accountable and responsible for the failure or success of business. They shoulder the responsibility of piloting the business through its trying times. In the event that they succeed, it becomes a and to them but in the event that they fail, they are going to be blamed.
7. They are accountable and responsible
8. They prosper on criticism
Another trait successful entrepreneurs share in common is the ability to forge ahead in the face of criticism. Building a business comes with its own challenges; as the entrepreneur, you are bound to be loved and loathed by the public. But successful entrepreneurs always devise a way to make use of every tiny bit of criticism to make themselves better and stronger.
"Sometimes, i think my most important job as a CEO is to listen for bad news. In the event you don't act on it, your people will finally cease bringing bad news to your attention and that is the beginning of the finish." - Bill Gates
"When everything appears to go against you, keep in mind that the airplane takes off against the wind, not with it." Henry Ford
9. Successful entrepreneurs are ambitious
Ambition is of the traits of successful entrepreneurs. Successful entrepreneurs think giant and do things giant. They are never satisfied with their current achievement; they think there is always room for constant improvement and they go for it.
ten. They are opportunist
Take a glance at Mukesh Ambani's achievement in building Reliance Group; the world's largest refinery. Lakshmi Mittal built Mittal Steel, the world's largest steel producer. Look at Larry Ellison's ambition to surmount Microsoft. In generality, entrepreneurs are ambitious personalities.
"The way to make funds is to buy when blood is running in the streets." - John D. Rockefeller
This is another trait of successful entrepreneurs. Successful entrepreneurs share a common ability to see opportunities, where others see issues. They know that behind every issue lies a chance. Successful entrepreneurs are the drivers of creativity and innovation.
11. They are great leaders
Successful entrepreneurs are great leaders with a proven leadership strategy. They possess the ability to bring out the best in their employees. They inspire creativity and foster innovation. They also have the ability to hire and lead smarter individuals.
"Good leadership consists of showing average people how to do the work of superior people." - John D. Rockefeller
12. Successful entrepreneurs are team players
"Go to the wolf, think about its ways and be wise. A wolf will never hunt alone; it hunts in packs because it knows the power of team work." - Ajaero Tony Martins
"I require to start my own business," 'i require to be my own boss,' 'i require to do this my own way.' These are the words i often listen to from would be entrepreneurs. Successful entrepreneurs know that entrepreneurship and investing are team sports. So therefore; they never work alone, they join forces with other entrepreneurs and professional advisers to build a stronger business.
In conclusion, these are the 12 traits of successful entrepreneurs which you must possess to succeed. Successful entrepreneurs were not born with these traits, they developed them over time. You can also create these traits if only you are willing.
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