4 Definitive Traits of Successful Entrepreneurs

If you are in the process of starting a small business, you may wonder to yourself if you have what it takes. Of course, all successful entrepreneurs have a determined work-ethic, but to really go to the next level, sometimes it takes more than just hard work.

Let’s take a look at some common personality traits that many established entrepreneurs have exhibited over the years.

1.      Stubbornness

In many social contexts, stubbornness is seen as an undesired quality. We are taught early on in life that we should be flexible. In order to get along with others, we learn to compromise. However, compromise taken too far can effectively squash novel, lucrative ideas because we are too concerned about what others will think.

As such, a strong dose of stubbornness is necessary for becoming a successful entrepreneur. If Steve Jobs had ever listened to anyone but himself when coming up with ideas, we might not have the iPhone, iPad, or other game-changing technologies.

2.      Forward-thinking mindset

Another key personality of successful entrepreneurs is constantly thinking about the future. Don’t consider what people want now, think about what people will want a few months, years, or even decades down the line.  Successful business owners don’t look for quick and easy profits; they plan how they can sustain future growth.

3.      Fearlessness of failure

Of all entrepreneurs in modern history, there is perhaps no one who has changed the way we experience our world more than Thomas Edison, the inventor of the light bulb.

One of the keys to Edison’s success was his fearlessness of failure. Edison has been quoted as saying, “I have not failed, I have simply found 10,000 ways that won’t work.” Successful entrepreneurs view failure as an instrumental part of future accomplishment.

4.      Desire to fulfill the needs of others

One of the hallmarks of a good entrepreneur is understanding people from all walks of life and knowing what their needs and desires are.

Again, to quote Thomas Edison, “I never perfected an invention that I did not think about in terms of the service it might give others…I find out what others need, then I proceed to invent it.” To be a successful entrepreneur, being intimately aware of your customers is absolutely essential.

It is often said that good leaders are simply born that way. But the truth is a little bit more complicated. Successful entrepreneurs develop their skills over the years, and their values and qualities emerge over time.

In the same way, if you study some of these personality traits that many entrepreneurs share, you will quickly learn what it takes to get where you want to be.