What picture pops into your mind when you hear the words entrepreneur or start ups? Is it a picture that excites you or frightens you? Is the picture even relevant to who you are or who you want to become?
Obviously, people who pursue self-employment want to be successful entrepreneurs, but according to Forbes.com, “8 out of 10 entrepreneurs who start businesses fail within the first 18 months.” If you are an entrepreneur or interested in starting your own business, how can you guarantee you don’t fall into this statistic?
One wise step you can take to join the ranks of successful entrepreneurs is to develop the qualities they exhibit in their lives and work. Here are five traits you must have if you want to become a successful entrepreneur. Each quality is followed by some tough, thought-provoking questions. How many can you identify in your life?
5 Must-Have Traits of Successful Entrepreneurs
1. Self Starter
Do you hit the snooze button five times before dragging yourself out of bed in the morning or are you someone who bounces out of bed? Are you intentional, proactive, and driven or do you put off until tomorrow what you could do today? Do you need someone telling you what needs to be done or do you make your own plans and follow through with those plans?
How committed are you to your endeavors? When the going gets tough, do you get going? Since most things rarely go according to plan, how willing are you to stick with something and pivot along the way? Bottom line, can you grind it out?
How’s your physical energy? What about your emotional energy? No business gets off the ground without lots of hours invested, so do you have the physical and emotional energy to put in long hours?
Are you a constant and continual learner? Are you reading books more than watching TV? Do you listen to educational podcasts more than talk radio? Do you invest in conferences, coaches, and mastermind groups?
Are you self-disciplined enough to do what needs to be done day in and day out to grow your business?
Questions: Which of these five traits of successful entrepreneurs is your strongest? Which could use improvement?