Entrepreneurs don’t become successful by accident — it takes extreme dedication and hard work. Understanding what traits highly successful entrepreneurs possess will help you identify what is required to achieve your goals. Here are eight traits that will help you become a successful entrepreneur.
1) They understand what is happening in their business at all times.
A successful business owner knows what is happening at all times. They know how their sales are performing and they are fully aware of how each department within his or her organization is performing at all times. Without this full understanding it would be impossible to implement changes necessary to meet and exceed company goals.
2) They are thankful and give back.
Successful entrepreneurs know what they had to sacrifice in order to be where they are today. They are thankful for the people and events that helped influence them and encouraged them to keep going even when there appeared to be no might at the end of the tunnel. This is also why the majority of successful entrepreneurs make it a point to give back in one way or another.
3) They are great motivators and appreciate their team.
A successful business owner knows that his company wouldn’t be where it is without the hard work of every employee and team member. They are always willing to help their team succeed and they are there to motivate and push those that are struggling. Also, when someone does something exceptional, they are the first one to congratulate the individual.
4) They set daily goals.
An entrepreneur becomes successful because he or she never gave up — they saw everything as a challenge — one that they were going to win. Setting daily goals allows you to hold yourself accountable. Also, by setting goals it demonstrates that you understand it requires a well thought out plan to become successful.
5) They are great at delegating tasks.
It is physically impossible to personally accomplish every single daily goal that is required to accomplish your goals. A successful entrepreneur can quickly identify which tasks he or she can tackle personally and then delegate the additional tasks to appropriate individuals like a virtual assistant. Many new entrepreneurs will try to take on too many responsibilities and they become overwhelmed. It is important to have confidence in your team and know they can handle what you assign them.
6) They don’t let roadblocks slow them down.
Running a business requires you to constantly be looking for ways to improve every aspect of your business. I experienced this when I started my company, Market Domination Media, and along the way in its early stages I faced many roadblocks, forcing me to develop a work around for every one. You can’t let anything slow down your momentum.
7) They pay attention to the news and world issues.
Successful business owners understand that world news can have a major impact on their business. Staying up to date on financial news, technology updates and current events will help you be a better entrepreneur. Twitter is an excellent source of quick updates, even for the busiest entrepreneur.
8) They are great listeners.
In order to make changes that improve your business you need to be able to ask for suggestions as well as take criticism. Successful entrepreneurs will listen to suggestions and understand that even negative input can be used to improve his or her business. Listen to what your team and employees have to say — they are the best source of feedback.
What other traits do successful entrepreneurs possess? Let us know what you think in the comments below.
Originally published Feb 04, 2015, updated Jul 17, 2023