5 Characteristics of a Successful Entrepreneur

Female entrepreneur sitting on a couch typing

by Sam Young, marketing intern & junior marketing major, Mike Cottrell College of Business

Being an entrepreneur is not an easy task. Starting your own business is difficult and most start-ups do not get past the foundation work. Entrepreneurs need to have traits that align themselves with success so that their company will prosper. Want your new venture to flourish? Here are five characteristics of the most successful entrepreneurs.

  1. Adaptability

Just like in a track race, there will be hurdles along the way to success. It is important as an entrepreneur to be able to adapt to obstacles that could arise as you work towards developing your business. There will always be jumps that you will have to take to get to your goal. Being able to make them with ease will help you tremendously in the short and long run.

  1. Resourcefulness

As a business owner, you should have a wide variety of contacts from a myriad of fields. Any of these people could be helpful to you in the future, whether that be a professional photographer or an accountant. Having these types of people in your contacts can help you keep your business on track for success.

  1. Confidence

A little self-confidence can go a long way. Starting a new business can be daunting and you may begin to doubt yourself as time goes on. However, investors and consumers alike want to see someone that is confident in their business and has a passion for their company. You must be able to deal with failure effectively and proactively by remembering your goals and why you wanted to create this company in the first place.

  1. Being thorough

Having all of your chickens in a row is not just something you should do in farming. It is important to have detailed plans on what your business is, what you want it to be, and the steps you are going to take to bring it to the next level. Investors like to see someone that not only has a passion for what they want to do, but has a detailed plan that will get them there. By doing this, you will ensure that people will take you seriously as an entrepreneur.

  1. Drive

Starting a business is like a marathon. It is going to have a lot of ups and downs that will make you feel exhausted. However, if you want to be successful, it is necessary for you to pace yourself and continue moving forward. Having simple reminders of your achievements and your passion along the way can be the boost that you need to take the next step forward.

By adopting these traits for your entrepreneurial endeavors, you can ensure that you will be a better business innovator for the future. Check out our entrepreneurial minor for classes on how to have a brighter future for tomorrow.

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