What It Takes To Be An Entrepreneur: 12 Traits That Lead to Success
Posted by Allison Maslan on Tuesday, September 30, 2014 · Leave a Comment

Almost everybody dreams of starting his or her own business, but very few are actually able to take that dream and turn it into a successful reality. But there are some traits that all successful entrepreneurs possess.

Passion For Something Meaningful

The thing that you want to explore doesn’t have to be meaningful to the entire world, but it does need to be meaningful to you. Passion for your project is an important part of building a business. Without passion you won’t have the drive to stick with your potential company especially when the going gets tough. You’ll also have an easier time getting people on board with what you’re trying to accomplish.

Willingness to Jump Into the Unknown

There is no guarantee that what worked for someone else will work for you. Starting a business is like jumping off a cliff–except you have slightly (but only slightly) more control over how you land. The most successful entrepreneurs understood this. Then they jumped anyway.

Becoming Resourceful in the Face of Fire

How do you respond to emergencies? Do you panic and flail about? Or are you more the type to look around for something to help you face the problem head on? Successful entrepreneurs are the latter. Starting a business is a bumpy adventure and you need to be ready to deal with each bump individually…and often creatively. If you feel confident comparing yourself to MacGuyver, you’ll be fine!

Admit Your Mistakes and Learn From Them

You’re going to mess up. It’s how you handle those mistakes that defines your level of success. The most successful entrepreneurs aren’t afraid to own their mistakes and then do everything they can to learn from them, so they don’t happen again. There’s no shame in admitting that you were wrong. In fact, it actually helps!

Relentless Drive…Even When You Don’t Feel Like It

Everybody has those days–the days where the last thing you want to do is keep working on something…even if it’s something you love! If you want to succeed in business, though, you will not give in to the urge to slack off and sit in front of Minecraft all day. You will get up and get to work, even if you’re bored or tired and especially when you’re feeling defeated.

Wanting to Make a Difference

Every business is created to solve a problem. Nike wants to help people be comfortable and healthy when they work out. Google wants, at heart, to help people find stuff online. What problem do you want to solve? That’s where you start building your business. Good entrepreneurs can figure out which problems most need solving–often before people realize that the problem exists in the first place.

Not Willing to Take “No” For an Answer

You’re going to hear the word “No” a lot. You’ll likely hear some form of it every day. Good entrepreneurs find motivation in rejection. Each no they get isn’t an end, it’s simply another turn they have to take to find their yes…sometimes even from the person who originally said “no!” Persistence pays off. Entrepreneurs know this and aren’t afraid to be pests if it helps them build their businesses.

Ability to Set Boundaries

A good entrepreneur, though, knows exactly what his or her limits are and finds help when it is needed. A good example of this is hiring an accountant and payroll specialist to help make sure your books are in order and that your employees are paid correctly and on time. Also, successful business owners work with coaches and mentors. Why would you want to do it alone when you can get their in a fraction of the time with support?

Can Inspire Others to Get Behind Your Vision

At the heart of business building is sales. You have to be able to sell people on your product or service. You need to be able to create the desire to invest in your company, to trust your products and even to risk spending their hard earned cash on whatever it is you have to offer. Good entrepreneurs and successful business owners know exactly how to inspire confidence in what they do and offer.

Understand the Concepts of Creating Profitability

Perhaps most importantly, a good entrepreneur knows how to take an idea and turn it into something he or she can monetize. More importantly, a good entrepreneur knows how and when to monetize. Independent musicians are great examples of this. In addition to music, most bands sell–at the very least–branded t-shirts and posters. Some sell other merchandise as well. The Doubleclicks, for example, sell branded dice because their audience primarily consists of geeks and gamers and they know the dice will sell well.

Know How to Unplug to Recharge

It’s true that building a business is a 24/7 job. It is not, true, though, that it has to be a 24/7/365 job. It is important to take time away from the project every once in a while. Entrepreneurs understand this. They know that sometimes the best thing they can do is to take time away and clear their heads. The clearer headed you are, the better able you’ll be to deal with obstacles, emergencies, etc.

Tap Into Creativity

There is no such thing as a cookie-cutter business. Even opening a franchise will require some level of creativity. Successful entrepreneurs know how to tap into their creative wells even when they are tired and feeling uninspired. If you want to build a successful business, you need to be able to do this too.

Speaking of creativity, it’s time to create new revenue streams! Come join me in San Diego for my 3 time sold out event, The Blast Off Business Breakthrough, happening January 16-18th! You will not only learn what it takes to be a successful entrepreneur, we will give you all the top business strategies, and then drop them into your very own business roadmap. Get ready for a complete game change! Register now before the price goes up!

Allison Maslan is a serial entrepreneur of 10 of her own companies. She is a No. 1 Bestselling Author and pres. of Allison Maslan International where she mentors big thinking entrepreneurs to grow high-revenue businesses and healthy and passionate lives in her year long mastermind program, The Pinnacle. Allison has been an expert guest on ABC, CBS, NBC and Fox Stations across the US. She is also interviewed in the upcoming 2013 issue of Success Magazine. Grab a copy of her FREE CD, 8 Millionaire Secrets of Successful Entrepreneurs.

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Category: Business Success Tips, entrepreneurial tips · Tags: Business Tips, creativity, entrepreneur, entrepreneurs, entrepreneurship, success

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