What it Takes to Be a Successful Entrepreneur
Learning how to be a successful entrepreneur:
Do you have the right skills to run a successful business?
Starting a new business is super fun, and also super hard some days.
With the right mindset and skillset, it can also be an incredibly rewarding experience. Successful entrepreneurs possess a unique combination of characteristics that allow them to navigate the challenges of building and growing a business.
Below are the top 15 characteristics that every new business founder should have, including the ones that are *absolutely required*.
15 Characteristics of a Successful Entrepreneur
- Determination (REQUIRED)
- Creativity
- Resilience (REQUIRED)
- Ability To Learn (REQUIRED)
- Passion
- Adaptability (REQUIRED)
- Discipline
- Patience (REQUIRED)
- Perseverance
- Risk-taking
- Networking Skills
- Financial Savvy
- Leadership
- Customer Service
- Communication Skills (REQUIRED)
REQUIRED: Determination is the single most important characteristic for a new business founder.
New business owners need the ability to press forward, get things done, and not quit. They need to learn quickly, try new things, delve into unknown territory, apply what they are learning, iterate, and keep moving forward. Without determination, the other characteristics will be of little use.
Emily is a new business founder who possesses many of these characteristics. She is determined to succeed, has a creative mind, and is adaptable to change. She understands that building a business requires discipline, patience, and perseverance.
Emily takes calculated risks, is financially savvy, and has excellent communication skills. She is constantly networking and building relationships with customers to provide top-notch service. Emily’s skills have helped her grow her business exponentially and become a successful entrepreneur.
On the other hand, Carl lacks the required characteristics. He is easily discouraged and gives up when things get tough. Carl lacks creativity and struggles to adapt to change. He lacks discipline and is impatient when he doesn’t see results immediately.
Carl is risk-averse and doesn’t have the financial savvy to manage his business effectively. His poor communication skills and lack of customer service are driving away potential customers. Carl’s lack of the required characteristics has led to the downfall of his business.
Next Steps: What You Can Do Now To Improve Your Entrepreneurial Skills
If you’re a new business founder or aspiring entrepreneur, there are several things you can do to improve your entrepreneurial skills:
1. Keep learning
Entrepreneurship is a continuous learning process. Stay curious and seek out new knowledge and skills. Read books, attend conferences, and take courses to help you develop the skills you need to succeed.
2. Find a mentor
A mentor can provide valuable guidance, support, and advice as you navigate the challenges of building a business. Seek out someone who has experience in your industry or has built a successful business of their own.
3. Network
Networking is essential for any new business founder. Attend industry events, join professional organizations, and connect with other entrepreneurs to build relationships and learn from others’ experiences.
4. Embrace failure
Failure is a natural part of the entrepreneurial journey. Learn from your mistakes, and use them as opportunities for growth and improvement.
5. Stay focused
Building a successful business requires focus and determination. It’s easy to lose focus especially when things get hard, but find ways to remain motivated, remind yourself why you started in the first place and find a support network of other entrepreneurs who are sharing your same struggles.
6. Attend workshops, seminars, and webinars
There are many resources available for new entrepreneurs, both online and offline. Attending workshops, seminars, and webinars can help you learn new skills and connect with other entrepreneurs.
7. Network
Networking is one of the most important aspects of running a successful business. Attend industry events and conferences, join local business groups, and connect with other entrepreneurs in your field.
8. Read books and articles, watch videos, take courses
There are countless books and articles on entrepreneurship, leadership, and business management. Make it a habit to read at least one book or article every week.
9. Learn from your failures
Failure is a natural part of the entrepreneurial journey. Learn from your mistakes and use them as an opportunity to grow and improve.
10. Stay up-to-date on industry trends
Stay informed about the latest trends and developments in your industry. Follow industry blogs and news outlets, attend conferences, and connect with thought leaders in your field.