Successful people in every field have similar attributes. They are the doers and go-getters. Their strategies may differ, but their goals are the same- To win!
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Here are 10 characteristics of a successful entrepreneur
- Tenacious:The most important trait of successful entrepreneurs is their willingness to do more and never give up. They are fighters and survivors and never accept a ‘no’ for an answer. Look at Larry Page and Sergey Brin. Did anyone believe in 1999 that they will design a search engine that would throw Yahoo! out of the market?
You can also read more about Canada’s business leaders, Sheldon Inwentash and Don Noonan, to understand how tenacity builds successful entrepreneurs.
- Street smarts:Successful entrepreneurs read a lot, but they thrive on practicality. They understand the ground reality and work smart. These entrepreneurs don’t go the conventional way or follow things written in books. They invent and innovate and break stereotypes.
- Resilient:Confidence and grit are the hallmarks of success, and entrepreneurs who win the game are examples of resiliency. They fall nine times to hit harder the tenth time. Startup founders deal with a good amount of negativity and failure every day, but that doesn’t deviate them from their goals.
- Inspiring:People follow successful entrepreneurs because their journey inspires them. Successful entrepreneurs know how to motivate others towards success. They are the thought leaders who talk about their failures and success to help others learn and grow.
- Risk-takers:Entrepreneurs don’t play the safe game and take the easy path. They know that with risk comes profits. They take up challenges and outsmart themselves every day.
I would like to mention Sheldon Inwentash in this regard, his career began in the life insurance industry as an oil and gas analyst and it quickly evolved into one that includes creating five companies and nine CEO roles, including a 20-year stay as the founder of Pinetree Capital.
- Observers:Successful entrepreneurs learn business tricks by closely observing their surroundings, competitors and other business leaders. They pay attention to details and stay hands-on. These entrepreneurs are always willing to learn more.
- Decision-makers:Entrepreneurship demands quick decision making to remain ahead of the competition. Successful entrepreneurs take multiple decisions every day and act on them.
- Competitive:Successful entrepreneurs don’t sit back and relax after breaking even. They remain competitive throughout because they know it is easy to reach the top but difficult to stay there. Therefore, they keep challenging their competitors and themselves and continue to hold the top position.
- People-oriented:Contrary to the belief that entrepreneurship is all about making money, successful entrepreneurs attain success because they value people more. They treat their employees, customers, and stakeholders right.
- The Jack of many trades:Entrepreneurship demands hard work when starting up. Many times, the founders have to handle many functions together. Successful entrepreneurs have the knack of each business function. They learn about marketing, sales, finance, operations to kick start their business and later hire people for each of these functions.
