Some believe entrepreneurship can be taught while others believe you are born an entrepreneur. The jury is still out. One thing for certain is that if you study enough successful entrepreneurs, there are a lot of similarities in their characteristics and behaviors. For instance, it drives them crazy to work for someone else, they truly believe they can change the world, and they focus on success and achieving goals to the point that it keeps them up at night.
Here are 15 characteristics that successful entrepreneurs possess:
- They are always coming up with new ideas – Often as they experience life, they are constantly seeing business opportunities. New inventions, new services that can be offered, how something can be done better. Non-stop thoughts about new ideas and possibilities that exist.
- They Are Bored With Being Average – The idea of a comfortable 9-5 job with a set lunch and break schedule is basically the same as prison. Even if the current reality is to work until they can afford to work for themselves, they thoughts and actions are focused on making it happen.
- They Hate Working For Someone Else – Their manager who was promoted because he is friends with the general manager is a kick in the teeth. Add that to the fact that the manager can not do any job well, much less manage them effectively and help them grow. Every staff meeting is a further indication that they need to work harder on getting their business going.
- Other Business Owners Inspire Them – When the word “hate” is thrown around way too easily, it is exactly the opposite for successful entrepreneurs. They love to see others succeed. It gives them inspiration and motivation to push harder. It also gives a model of success to follow. The more successful, the more appreciation for that entrepreneur.
- They Are Always Learning New Things – Reading blogs, taking courses, tutorials, talking to mentors, pursuing certification, these are all habits of successful entrepreneurs. They fully understand that growing and evolving are critical for long term success. They refuse to rest on what they already know and accept that as good enough.
- They Dream of Being Rich – It is not all about the money, but the money is a driving force and they realize there is nothing wrong with that. They see the money as payment for their effort, hard-work, and executing on their idea.
- They Don’t Give Up Easily – Quitting is one of their biggest fears. The words of Kanye West totally resonate with them – “For me giving up’s way harder than trying”.
- They are Disciplined in Their Habits – While ideas are great, successful entrepreneurs also make a habit of consistent, repeated actions done well. Success is not a one-day thing or a single event, but successful actions repeated every day.
- They Aren’t Afraid of Hard Work – Not only are successful entrepreneurs not afraid of hard work, they embrace it. They take pride in working harder than everyone else. While others are watching TV or enjoying happy hour, successful entrepreneurs see that as another opportunity to put in the hard work for success. They refuse to be outworked.
- They Are Natural Risk Takers – Successful Entrepreneurs are risk takers. Calculated risk takers. Not wildly making poor decisions and calling it risk. The kind of risks that weighs the pros and cons and makes an informed decision with the belief that they can achieve success.
- They See Failing As A Temporary Setback – Failing is tough for everyone, but everyone experiences it at some point. What makes successful entrepreneurs different is they learn from it and come back stronger. They take the positives from the situation and apply it to future endeavors. They refuse to allow failing to cripple them and be final.
- They Set Goals and Meet Them – Successful entrepreneurs actively think about their 1, 3, and 5 year goals and set shorter term goals in order to meet them. And just setting the goals is not enough. They work every day towards meeting those goals. Only then are they content.
- They are Hyper-Competitive – Something like a simple game of monopoly or checkers means full on combat for an entrepreneur. They love to win as much as they hate to lose. They always want to be the best. In Business, in Sports, in life. They want to in.
- They Inspire People – People around them respect them. They are inspired by their work ethic, productivity, and success.
- They Make Sacrifices For What They Want – Successful entrepreneurs realize they can have anything they want, but they can’t have everything they want. So they are willing to make sacrifices for the things that they want most.
This is a short list of the characteristics exhibited by successful entrepreneurs. Can you name any other characteristics that you have observed?