Traits of a Successful Entrepreneur — Are All Entrepreneurs Alike?
We can all think of names of influential entrepreneurs from different walks of life. Steve Jobs, Warren Buffet, Oprah Winfrey, Howard Schultz, Richard Branson or Jack Dorsey among others have left their mark in the business world and surely, the list continues to grow. So, what is it about them that tipped the scales? Having seen beyond the end of a plain working day? Looking forward to something more rewarding than a monthly earning report? A working style that takes no prisoners? Still and all, they have become billionaires for a reason… haven’t they?
Absolute Clarity of Purpose
No exceptions. That’s a must, many would say. An entrepreneur should be truly clear on where they stand, where they’re headed and how they’re planning to get there. Know your purpose, be present, get focused and stay focused.
“An entrepreneur must be hungry for success and must be able to create something out of nothing” — Anastasia Kop, CMO and co-founder at Textilu.
Be Comfortable With Uncertainty
Welcome to the Land of the Unknown! Be that as it may, let’s not confuse “uncertain” with “unimaginable”. It is beyond the ability of any entrepreneur to know what their future holds, but if you can imagine it, you can act upon it and create it. One more thing: don’t just rely on luck. Hard work is what will put you where good luck can find you.
“I think, as an entrepreneur, you need that skill to push through and not give up. There are lots of ups and downs and it is not always easy; there’s no safety net either…” — Jessie Akkermans, CEO and founder at Doggies In Town.
Believe in Yourself
Totally, unapologetically, firmly and vigorously. You will be the first person to be backing your own self in this endeavor. There’s no place for fear or doubt in the Entrepreneur Tribe. Avoid becoming a lone wolf, you need your wolf pack regardless of the business model you’re planning to create.
I believe I have empathy and a knack for sales. And becoming an entrepreneur, this helps a lot; starting with the people you choose to form your team — Felipe Vieira, CEO and co-founder at NetworkMe
Be Willing to Work Hard
There’s no clocking out at 17:00; entrepreneurship is not just like any other day job. Nobody else will do things for you. You need to do them yourself, for yourself. If you honestly wish to contribute, share and make a difference, you need to make a commitment and stick to it as resiliently as you can. Be a seeker, stay curious, invested and passionate about learning.
Gut Instinct
Are you determined to follow your passion or just do something you’re good at? Do what you know or what you love? Far too many people out there go through life without genuinely discovering what really moves them. Entrepreneurship is over and above wearing a pair of opportunity glasses and being able to detect needs and market niches. Listen to your inner voice; careful though, intuition is neither magic nor mere hunches.
What Type of Entrepreneur Are You?
So, you’re all set to turn a pioneer idea into reality based on your skills, grit and personality. Which type(s) of entrepreneur would you identify with? Let’s take a look…
The Innovator — they come up with literally brand-new ideas and perceive their role as changing the world; they set the rules and pave the way; extremely passionate professionals, mainly driven by their gut instinct. Obsessed with their business? Probably an understatement.
The Imitator — they copy and improve business ideas. They are good at avoiding mistakes made by “innovators” and refine the original product. Imitators would avoid risks and see no problem at all with being compared to.
The Researcher — they would take all the time in the world to do genuine research and gather information. They are analytical by nature and accept no failure, simply because they’ve investigated and visualized their dream from each possible angle. Quick decision-making is not their forte, but their business plan is unquestionably thorough.
The Hustler — they start small and work really hard to achieve their dreams. They won’t necessarily worry about funding, growing their business or getting all the glory. If you’re a hustler, careful with burning out yourself and/or your team… you might have different work ethics and lose them along the way. You need your wolf pack, remember?
The Buyer — they do exactly that: they buy promising startups. No risks, no innovation, no contingency plans. The market is already there. Their forte? Combining their innate capacity and experience to assess the viability, feasibility and scalability of any young startup.
The Drone — the conservative, old-school entrepreneur; an oxymoron, yes. To them, it’s all about tradition: setting a conventional startup and doing things exclusively by the book. They might suffer losses but are not willing to change their ways.
Which hat will you be wearing today?
