The eight traits successful entrepreneurs commonly exhibit
They’re passionate about what they do
It’s not a job if you get up every day and enjoy what you’re doing. Entrepreneurs pursue what
they’re passionate about and find a way to turn this passion into a commodity. Whether it’s
channelling classic extroverted tendencies into a public speaking brand, or finding ways to take a new product to market, passion is the glue that keeps you ticking over.
They surround themselves with good people
Quality people are everything. Whether it’s a business partner or an employee, successful
entrepreneurs are good at spotting talent and letting that talent blossom. Want to make it big? Befriend those that have skills you lack, because no one is good at everything.
Entrepreneurs get things done, even if it means making mistakes and enduring failure. Any
endeavour is a risk, but if you let self-doubt hamper your progress, you’ll never get off the starting blocks. As the saying goes: “Ever tried. Ever failed. No matter. Try again. Fail again. Fail better.”
They work with what they have
Overheads are the killers of successful enterprise. Entrepreneurs find ways to save money wherever they can, whether that means operating out of a co-working space, relying on mom or dad’s garage, or using freelancers in lieu of full-time staff. Even Steve Jobs began his career in the garage of his parent’s Los Altos home. As co-founder Steve Wozniak later remarked: “The garage didn’t serve much purpose, except it was something for us to feel was our home. We had no money. You have to work out of your home when you have no money.”
They fake it until they make it
When no one is willing to take a chance on you, take a punt on yourself. Charles and Maurice Saatchi are global advertising tycoons today; back in the 1970s? Not so much. Since clients wouldn’t take them on, they hired out offices for one meeting alone and paid models to act as reception staff. Before long they were bagging big deals and executing the award-winning work they knew they were capable of from the start.
They make their own luck
As we talked about in this article on making your own luck, entrepreneurs with the right spirit are able to improve their odds of success by controlling what little they can. In short? Be practical, work hard and face conflict with a headstrong attitude.
They’re hungry to learn
Thinking you know everything is a sure-fire way to get yourself into trouble. The best entrepreneurs are restless knowledge gatherers and hungry to take in more. They recognize that, in business, nothing ever stays still for long. Just look at the way Netflix has revolutionized and decimated the traditional DVD market in a few short years. Think you know everything? Then you’re resistant to change and asking for trouble in the process.
They give back
Michael Bloomberg is a big believer in philanthropy. “You are ultimately responsible for your success and failure,” he notes, “but you only succeed if you share the reward with others.” The billionaire media magnate says that entrepreneurship is not just about making your own life better, but enriching other people’s too.