When you think of successful entrepreneurs, you think of people like Steve Jobs, Oprah Winfrey, and Jeff Bezos. These high-achieving, uber-successful people started with nothing and built their businesses into the empires that they are today. Although they may be different in their ideologies and approaches to business, they share some common traits that have led them to tremendous success. Successful entrepreneurs often share some, if not all, of these ten qualities:
1. Passion. First, entrepreneurs are passionate about the product or service they create. Successful entrepreneurs love their businesses. They are driven by passion to put in the extra hours needed to become successful. Entrepreneurs genuinely love the work they are doing every single day.
2. Motivation. Founding a small business requires entrepreneurs to be self-starters with the ability to stay motivated, even in the face of setbacks. Successful entrepreneurs use their motivation to continually provide a better product or service for their customers.
3. Perseverance. Entrepreneurs are self-disciplined. They don’t let minor mistakes or setbacks stop them from moving forward. Their passion for their product or service gives them a highly developed work ethic. They do not take “no” for an answer; they persevere.
4. Creativity. Successful founders are creative and innovative by nature. They have a clear vision for the future of their market. They know how their product or service will change the market by thinking ahead. Entrepreneurs continue to create and innovate as their business grows. They’re creative in their ability to bring a new idea to light, fund their business, and get it growing. They have a clear vision for the future of their business and market.
5. Confidence. To have a successful business, an entrepreneur must believe in their product or service. Additionally, they must believe in themselves. Entrepreneurs are dedicated to their vision and focused on success. They exhibit a strong sense of confidence in their interactions with colleagues, clients, and competitors.
6. Organization. Entrepreneurs are highly organized and detail oriented. From conception to innovation and bringing a product or service to market, they must stay on top of a myriad of business priorities. They create and implement detailed business plans that define their vision and path to success, while balancing limited time and resources.
7. Flexibility. Startup founders know the value of being adaptable to change. They pivot their vision and evolve their business in response to client and market needs. They do not allow mistakes or setbacks to derail their vision. Instead, they adapt their vision to overcome obstacles in their way. They are agile and open to improving upon anything that could strengthen their business.
8. Networking. Entrepreneurs understand the value of cultivating a supportive network of friends, family members, and colleagues. They have superior people-skills, and are able to develop and nurture important business relationships. People favor working relationships with other people that they like and trust. Being able to sustain healthy relationships is a vital quality of successful small business owners.
9. Competitive. Successful entrepreneurs love to face challenges head on and win. Entrepreneurs compete to win business and grow their market share. They create a product or service that has a unique edge to compete with other businesses in the market. Alternatively, they improve upon an existing product or service. They are inherent risk-takers that thrive in a competitive environment.
10. Tenacity. Lastly, successful entrepreneurs are tenacious. They know how to accept their setbacks and failures, and learn from their mistakes. They allow evolving client and market needs to teach them how to adapt their business to achieve success. Nothing stands in the way of growing their business and achieving success.
As Steve Jobs eloquently said, "...about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance." If you have the passion and perseverance to succeed, you cannot fail. Researching alternative lending options? Check out BizLender online or call 855-433-8641. BizLender has been offering lending solutions since 2013, and emphasizes working smarter, not harder, by using technology to fund small businesses in as little as 24 hours.