Wed 01 Jun 2016 | By:

Top 5 Characteristics of Successful Entrepreneurs

Top 5 Characteristics of Successful EntrepreneursBeing an entrepreneur is one of the most exciting professions. It’s certainly one of the most fulfilling and appealing professions as well.

For these reasons, many people want to venture into the business industry, start a business, and be successful. End of story, right? Well maybe not.

Before joining the bandwagon and start a business of your own, it’s important to know what characteristics successful entrepreneurs have that made them successful. If you can identify yourself with these characteristics, then you are definitely on the right track!


1) Passion

The business industry can be one of the harshest, most competitive and unforgiving environments to be in. Starting a business is full of highs and lows, difficulties and struggles and challenges. It is definitely not for the faint-hearted.

Building, running and managing a small business is a labor of love. It takes a special and passionate kind of person to appreciate how entrepreneurship works.

So if your reason to engage in business is to earn lots and lots of money, you should think twice. While making money is part of the business, it should not be your sole motivator.

If you have the passion for business, everything else will follow: persistence, determination, hard work, and the drive to succeed.


2) Self-discipline

One of the major characteristics of a successful entrepreneur is self-discipline. Self-discipline is described by Merriam Webster as:

“the ability to make yourself do things that should be done.”

Self-discipline is also one of the most difficult values to practice. You have to be in control of yourself and act responsibly if you want your business to succeed. Especially when handling the registration process. Being self-disciplined means that you are able to fight all the temptations and distractions that allow you from doing tasks. It means that you are smart enough and focused enough to do things today rather than postponing them for later. Because ‘tomorrow’ never really comes!


3) Adaptability

The business environment is dynamic, it is always changing. Successful entrepreneurs adapt to these changes easily and understand that to be able to respond to changes fast, they have to be flexible at all times.

To adapt to changes, you also have to love the process of learning. You need to be knowledgeable and skilled in a lot of areas.


4) Observant

A successful entrepreneur is vigilant and receptive of his environment. She/he is able to notice even the smallest changes and problems in a system. Being observant is very important because it allows you to notice the things that other entrepreneurs can’t.

A good eye will help you a long way. You will be ahead of others, you can create things and you will never be left behind.

If you are the type of person who fails to see the understand the bigger picture of things, you should think twice if entrepreneurship is really for you.


5) Self-Assurance

Being self-assured means that you trust yourself enough to make the best decisions for your business. And because you trust yourself, you are confident to face any challenges that may come your way.

It is normal to doubt yourself sometimes, however, if you are severely indecisive, that can be a problem when you start a business.

Having a business is like raising a child, when the child is still young, you have to make all the decisions to provide your child with the best future. This is also the same in business.

If you are not self-assured enough, you will place your business at risk of failing because you are not able to make the right choices.


Wrapping up and starting your business

Of course, nobody (including myself) can tell you what you can and can’t be.

However, these are just some helpful tips to help you assess if you really are made to be in the world of business. Even if you don’t have all these characteristics right away, by working on them, like anything else, you will become better and better every day.

About Larry Nicholson

Larry Nicholson, an accredited small business consultant, is the founder and principal of BluPrint Consultants, LLC , where he advises entrepreneurs, business owners, and leadership teams, providing guidance and management, product and service assessment, due diligence, leadership, and strategic planning advice. He brings to each relationship a wealth of problem-solving experience to small businesses and startup companies. Larry currently resides in Tampa, FL.