There is a question that most successful entrepreneurs are asked much more often than others. It is formulated in different ways, but the essence of the question is the same: "What does it take to be a successful entrepreneur?"
Over time, their answer has changed. But in the end, all have agreed on ten traits that unite almost all truly successful entrepreneurs. The following top 10 characteristics distinguish genuine business rock stars.
1. Passion
You need to be driven by a clear sense of purpose and passion. Usually, passion comes from two sources: it is a passion for the subject matter of your business or a passion for the game of building a business itself.
Why is passion needed? Simply because you will probably have to work very hard, for little money and with no guarantee that it will work out at all. So you need intrinsic motivation, not related to money.
2. Perseverance
If you want to start a startup, you need a sense of purpose, as well as a high tolerance for inconvenience and adversity. You need to learn from your mistakes — stumble and fall more than once, get back on your feet, dust yourself off, and move forward with renewed motivation.
You will often be told that your child is ugly, that your business will not work. You should listen carefully and be open to constructive criticism. But when the door is constantly slamming you in front of your face, it can be exhausting. The best entrepreneurs learn to cast aside negativity and even gain strength from it.
3. Exposure
You need a solid sense of yourself so that you are not afraid to work with talented, motivated people. To truly succeed, you need to be confident enough to surround yourself with people who are not like you - people with skills, experience, and knowledge that complement your own. And keep your ego in check: there is no shame in making coffee for colleagues, throwing trash out of trash cans, or going to the bank as an office boy.
4. Determination
You need to feel comfortable in the face of uncertainty and ambiguity. Entrepreneurs collect as much information as possible in a short time, and then FORWARD, FORWARD, FORWARD !! You have to understand that the result will not be perfect. We only have 10% of the data we need ... but if we wait until the rest of the information arrives, we will never act, we will drown in indecision.
5. Fearlessness
No one is surprised that entrepreneurs are willing to take risks. But you don't have to be crazy, like those who bungee jumping without a helmet. Smart entrepreneurs intuitively develop the ability to sense and mitigate business risks. But you need to understand that sooner or later you will fall down anyway, you need to get comfortable with this fact and with the fact that you will learn from mistakes and adjust frequently.
6. Financial Preparation
To make the jump, you need a certain financial condition. This does not mean that only the rich can be entrepreneurs. But until you have a personal financial springboard (the ability to exist without receiving a stable income from the business) for at least one and a half to two years (and ideally longer), you do not need to quit your job.
A startup can be a side business for you, and your main job will allow you to have everything you need. Alternatively, talk to your boss about taking a part-time job. And when your business starts making money, you can either go back full day or quit altogether.
7. Flexibility
Try to find a startup that has existed for at least four years, and whose business does not radically change from the original plan. Everything works out only for those who remain flexible, adapting to new information and circumstances.
8. Ability To Change The Picture
Can you switch to a big concept mode for your business and then scale up and focus on short-term goals? Successful entrepreneurs can effortlessly switch between these modes. They can paint the big picture and deal with the finer details at the same time.
9. Ability To Sell
Whether you were born an extrovert or an introvert, as the head of the company, you will always sell something. You will sell your idea to potential partners and investors. You will sell potential employees an explanation of why they should quit their job and join a startup they have never heard of. You will be selling products and services to customers. You will reassure your employees to stay calm and not leave the ship during a storm. You cannot delegate these tasks to anyone.
10. Balance
To survive as an entrepreneur, you need a solid sense of perspective. How to stay focused. How to put up with failures and learn from them. You need to understand that not all battles are worth winning and that sometimes you need to step aside. You need to understand that not everyone on your team is as entrepreneurial as you are. You need to understand when it's time to go home and hug your family and when to rush forward.
I hope this article will be inspirational for young entrepreneurs seeking to build thier own entrepreneurial career.
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