5 Common Traits of Successful Entrepreneurs

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Being an entrepreneur is no easy task; it certainly isn’t for everyone. It takes a lot of hard work, determination and dedication — with a bit of luck sprinkled in. Ultimately, most entrepreneurs choose their paths because of the reward (whether that reward is financial, control over their lives, or the ability to create a new product or service).

While there are so many different types of entrepreneurs, there are common threads among them all.  From Henry Ford to Bill Gates, entrepreneurs all possess certain traits that make them great at what they do.

1) They have passion.

The key to being a successful entrepreneur is loving what you do. To create a successful business, you need to be passionate about it. It requires a lot of time and dedication so if you don’t have the passion to see it through, it won’t work. For an entrepreneur, success means a lot more than just money or seeing a return on their investment. It’s both a personal and professional dream fulfilled.

2) They aren’t afraid of hard work and risk.

Being an entrepreneur isn’t easy and it certainly isn’t pretty. The majority of your time will be spent in the trenches. You’ll work on building a team around you but in the beginning, you’re a one-person team. You’ll wear many different hats and to be successful, you need to be willing to do them all. Owning your own business isn’t as glamorous as it may seem on the outside and successful entrepreneurs aren’t afraid of hard work. Many times, it’s risky — leaving a “steady” 9-to-5 job to start a business from scratch.

3) They’re leaders.

There’s comes a point when you can’t do it all by yourself. The fact is, no one has the know-how to do every job in an organization and do it well. As a successful entrepreneur, you know exactly who you need on your side and build a core team around you. Instead of trying to do everything yourself, you delegate. If you can’t lead, you can’t succeed.

4) They’re nimble.

Turning your idea into a business is tough and a lot of curveballs can be thrown your way. A mark of a successful entrepreneur is being able to roll with the punches. A successful entrepreneur is nimble. When something doesn’t go their way, they’re able to adapt. There is always a Plan B and it’s just as good as Plan A.

5) They’re planners.

All entrepreneurs take risks. It’s the nature of the profession. But at the same time, those who are most successful take calculated risks. They don’t lead blindly. They know what they’re getting themselves into, understand the potential pitfalls and have a plan of action.

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