6 Must Have Traits of a Successful Entrepreneur

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Rarely a day goes by that we don’t see the likes of Bill Gates, Warren Buffett, or any other successful entrepreneur in media. The world is fascinated by their success and their journey from humble beginnings to the top of the Forbes 500 richest people in the world. They have achieved legendary status among their followers, who try to emulate their achievements. But what makes them special? As it turns out, there is a set of traits they all have in common and that have made them successful.

Rarely a day goes by that we don’t see the likes of Bill Gates, Warren Buffett, or any other successful entrepreneur in media. The world is fascinated by their success and their journey from humble beginnings to the top of the Forbes 500 richest people in the world. They have achieved legendary status among their followers, who try to emulate their achievements. But what makes them special? As it turns out, there is a set of traits they all have in common and that have made them successful.

Passion

For many successful entrepreneurs, this is where it all starts. To be able to believe in an idea that you are willing to sacrifice everything in order to bring it to life, you have to have passion. The passion provides us with the strength to carry on even when all seems lost, to work long hours without pay, and to invest everything we have into a project that few people around us believe in.

Vision

Everybody can have one or two good or even great ideas, but sometimes that isn’t enough. To be truly successful, you have to have a vision, how does your idea can be incorporated into the world, providing something that people need and only can get them. It is OK if you don’t have one when you are just starting, but you have to be ready to jump at the opportunity when it presents itself. After all, Mark Zuckerberg certainly didn’t imagine Facebook as it is today when he wrote the first few lines of code. It was just a site for Harvard students to meet online, yet it evolved into a global phenomenon. 

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Courage

It takes a lot of courage to challenge an established order, but that is exactly what is needed sometimes in order to achieve greatness. One of the best examples of courage is affiliate site AskGamblers. At one point, they were just another casino affiliates, out of thousands of similar sites on the Internet, until the owner bit the bullet and completely rehauled it, risking everything. The result?  For three years in a row, the site was awarded Best Affiliate Website by IGB Affiliate. Millions of users visited it every month and it was sold for $15 million in 2016, all thanks to one brave decision.

Tenacity

There are many obstacles on the road to success and the ability to overcome them is extremely important, both in business and life. No matter what is thrown at you, you have to be able to move on past it. Don’t be afraid of failures, rather treat them like teachable moments. What did I do wrong and what can I do to make it better next time? Sir Winston Churchill put it best: “Success is the ability to move from one failure to another without loss of enthusiasm.” Old Winnie had his fair share of failures in life and politics, so he knew what was he talking about.

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Flexibility

Sometimes the idea we thought was great simply doesn’t work out. It is important to understand when that happens and recognize that moment when we need to step back and reflect on it. Perhaps we made a wrong decision along the way or we underestimated a problem. Regardless of the reason, we need to be flexible enough to change our approach. Sometimes only a small adjustment will set us back on our path, but there may be moments when we need to redefine our entire project. Don’t be afraid to do it, because sometimes the only way forward is to go back a few steps and take another route.

People Skills

You will meet all sorts of people along your way to success. Having people skills to manage them and keep the relationship you need is an essential tool in every entrepreneurs’ arsenal. As you grow, so will the number of your employees and again, people skills you have will determine in large percentage how they see their jobs and how much time and energy they will devote to it, especially in the beginning when you are unable to pay them as much as the competition.

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Many people have at least a few of these traits, only rare ones have them all. Even if you don’t recognize some of them in yourself, don’t despair, since many of them can be developed in time, with discipline and dedication. What is important is to identify the ones you are lacking and work on them.

Author Bio:

Jessie Connor is a passionate writer and researcher from Brisbane, contributor at several business and lifestyle blogs, hooked on yoga and healthy living. She loves to spend her free time travelling, reading and of course – shopping!