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5 Winning Personality Traits of an Entrepreneur

entrepreneur-593352_640According to a 2013 study conducted by Swiss and German researchers, successful entrepreneurs have a very specific set of traits that make them capable of achieving success. They don’t just generate ideas; they are fine tuned to turn those ideas into successful businesses. Here are five personality traits that most successful entrepreneurs share, and that may come in handy as you fine-tune your business.

Resilience. The best entrepreneurs don’t let failure demotivate them. They understand that failure is inevitable, and because of this, they do not treat a small (or even a large failure) as a setback. Why is this important? Those who are not resilient, who let failures drag them down, are ill suited for the business world, where failure is a daily reality. They look at their failures as a springboard, as an opportunity to learn and do better in their next attempt.

Self-confidence. They believe in themselves. Sometimes in our society, we think that being self-confidence is dangerous. The truth is, however, that if you don’t believe in yourself, no one else will, either. That isn’t just a Pinterest platitude—it’s the truth. You have to be a little delusional about your ability to succeed and actually believe that if you just keep moving forward, you can find success. 

They don’t listen to their critics (all the time). If someone has a legitimate criticism of your business, it’s probably in your best interest to listen to it and decide whether or not you want to take it and use it. However, most successful entrepreneurs are great at tuning out the naysayers and taking the risks that most people would be afraid to take, simply because successful people don’t really care what other people think. The only time you should worry about your critics is when they are your customers.

They don’t leap without looking. Taking risks is part of starting a business. Throwing yourself over the edge without looking over to see what wait for you, however, is not being a risk-taker. It’s being foolish. Take calculated risks as you grow your business. The more you understand what you are getting yourself into, the better you will be able to control the outcome, especially when it comes to making large financial decisions for your company. Just remember that you should look before you leap. 

Adaptability. Being able to adapt to whatever comes your way is a vital part of starting and running a business. There’s no way to predict every challenge or opportunity you are going to be faced with, so you have to be flexible enough to make adjustments to your business and your ideas as the market demands. Don’t be so attached to your idea that you aren’t willing to make changes that would make it better or more profitable.