8 Traits of The Most Successful Entrepreneurs

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When we think of the most successful entrepreneurs, people like Steve Jobs and Richard Branson might come to mind. Which traits unite successful entrepreneurs like them and how can we strive to emulate them in our daily lives?

I thought about this myself and decided to list out a few that came to mind. It’s by no means an all-inclusive list so if you have any additions, leave a comment with your thoughts.

1. Perseverance

You will inevitably hit tough times and you’ve got to be able to pat yourself on the back and give yourself kudos. Accept that you are going to make mistakes and realize that you’ve got to pick yourself up because there isn’t anyone else there to do it.

2. Open To Advice

Understand that everything is your decision as an entrepreneur but that you will thrive when you are open to advice. Have your own vision and recognize the times when you need to balance that with external advice.

3. Be a Conductor

People talk about the importance of specializing and not being a “jack-of-all-trades” but I believe an entrepreneur needs to be both. You need the expertise within your given industry but you also need enough general knowledge among the various components of running a business to know how they fit together.

You might be able to play the cello very well but that doesn’t mean you are a great conductor. Learn to be a conductor in your business.

4. Know What You Don’t Know

As a good entrepreneur you have to know what you know and you have to know what you don’t know. Henry Ford is a famous example of someone that was not even close to being a master of everything, he just had the right advisors and employees at his fingertips and that’s what made him successful.

5. Understand The Numbers

Now this is coming from an accountant but I believe a good entrepreneur has to have a certain level of understanding when it comes to the numbers. If you don’t understand the numbers, you can really get yourself into trouble and make costly mistakes.

If numbers frighten you, make sure you have a good advisor or a partner on your team that can work with you on it.

6. You Don’t Wait For The Right Opportunity

The most successful entrepreneurs are self-starters. They don’t wait for the right opportunity, they create it.

The really neat thing is that the people I would name as examples of self-starters are all people nobody knows. They are the guys working in their basements and staying home on weekends, consumed by their passion and building on it. No one knows about them today and they are true entrepreneurs.

They are people like Steve Jobs when Apple was still in a garage or Bill Gates when he was still putting together the pieces of Microsoft. Being that person today is a choice you can make.

7. Confidence

I think it’s important for entrepreneurs to have a little bit of an ego, as long as it’s internal and manifesting in the form of positive mental activities and self-talk.

Stay grounded and keep your ego in check but don’t be afraid to pat yourself on the back. Like I mentioned earlier, if you don’t do it, no one else will.

8. Recognize Your Successes

I had a great meeting with a client the other day that is very successful but having some problems right now. The main issue is they aren’t stopping to recognize their daily successes.

He’s constantly shooting for the grand slam finale but that takes extra time and it’s making it difficult for him to get up and be motivated because he’s ignoring the many smaller, positive things that are happening along the way.

Don’t cheat yourself out of the success you’ve earned. You worked hard for it so enjoy those moments as they come along.

Which traits do you think are most common among successful entrepreneurs? Leave a comment below.

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