Qualities of a Successful Entrepreneur that will unlock your potential (2020)

Ever wondered what are the exact qualities of a successful entrepreneur? or What is the mindset of some of the top entrepreneurs in the world?

Well, I’m going to list down a few qualities of a successful entrepreneur that everyone should instill if they are about to hop on the entrepreneurial train. But before we begin, let’s talk about why someone would want to become an entrepreneur?

I mean there is only 1 reason –

You’re sick and tired of your 9-5 job and hate working for someone else. The corporate rat race does not excite you one bit and you’re looking for a way out and start your own business. 

Well in the words of the great Hulk Hogan, “Let me tell you something Brother”

Starting your own business and living the life you want is the ultimate dream. But you have to work really hard and put in the work.

 In this article, we’re going to talk about some of the top qualities of a successful entrepreneur and how to become a good entrepreneur?

One of the latest fads is starting your own venture or business. With organizations encouraging entrepreneurship culture, the trend of being an entrepreneur is definitely here to stay.

No matter the type of service or business, start-ups contribute greatly to the overall economic development of the home country. 

Entrepreneurs are valuable assets in their country. By offering value-based services that help create employment they end up improving the margin of a standard of living for the masses.

While many are unhappy with a 9 to 5 job, pursuing passions and being your own boss is a major incentive for the dissatisfied while hopping on the entrepreneur train.

How to become a good entrepreneur? 

Long nights, burning the midnight oil is a given when it comes to being an entrepreneur. 

While many are quick to live out their ambitions through entrepreneurship, the success ratio leaves many dejected as well.

A good entrepreneur needs much more than just an idea, he/she needs to hone and develop various qualities in order to end up surviving in this competitive world. 

And is surviving just enough? In order to taste true success, it is important to thrive in the market and carve your own unique identity.

An individual needs to have some common qualities and traits that various successful entrepreneurs around the world exhibit.

I hope after this article, you will have an idea or a basic blueprint in your head to understand the qualities of a successful entrepreneur and the real grind and hustle that goes into it.

qualities of a successful entrepreneur (10 Must-have traits)

1. Hard-working (There is no substitute for this)

Having an absolutely brilliant idea or an ambitious desire to start a venture is just the tip of the iceberg. A successful entrepreneur undertakes risk, faces challenges and performs multiple functions to take his business forward 

What sets an entrepreneur apart from all the people just wishing or daydreaming about starting their venture is his/her ability and drive to get things done.

 All this needs dedication and constant hard work. Being ready for uncertain situations and being optimistic no matter the outcome, is a must for all entrepreneurs.

It is easy to become an entrepreneur if you’re young and single as you have time, it’s even more difficult for the ones who are married and have a family to take care of. It’s simply hard work that you need to put day in and day out.

Reading motivational quotes and watching inspiring videos will only get you motivated, the real step is when you execute.

2.Passion (What really excites you and motivates you)

You need to love what you do. This acts as a major reason why people leave their own monotonous but stable jobs to become an entrepreneur.

Being passionate and having the drive to create your own unique identity is what sets successful entrepreneurs out from the regular 9 to 5 workers.

To be a successful entrepreneur means to have a genuine love and craze for your work. Having a passion for your work is a prerequisite quality to be a successful entrepreneur.

Facing up to various difficulties and solving problems is only possible when one is passionate about their work and hence adopts a never give up attitude.

You just need to find your passion and everything will fall into place.

3. Creative (Be authentic)

To be a successful entrepreneur means to set yourself apart from the rest of the working crowd. 

It is necessary to think out of the box, innovation is key to progress. An entrepreneur has to adopt various thinking styles and tackle challenges in a creative manner. Approaching problems with imaginative and unique solutions smoothens and paves the way to cope with future uncertainties.

For example –

Don’t just think of starting a clothing brand online, because there are plenty of big boys in the e-commerce world.

You can go for glow in the dark t-shirts for parties or sweatproof t-shirts for traveling or working out. (just bring something unique to the table)

 If your brand fails to stand out and deliver, you will fail. Instead, find a problem and come out with a unique solution.

Through creativity, an entrepreneur brings something new to the table and develops a need in the market.

4. Leadership (Not just vision and power, but the growth of others)

It is often argued that leaders are born not made. However, in recent times this attitude is undergoing a change with the presence of leadership courses that nurture the quality of leadership in a person.

A good entrepreneur is an influencer who is confident and not afraid to face rejection. Being a good leader includes having the resources to delegate as well as the ability to lead and influence the behavior of people. A good leader motivates people to follow in his stride.

The most important quality of being a successful entrepreneur is that you become a leader not just for the company, but for the people.

No one likes a leader that is not motivating and inspiring, but someone who works along with the team and pushes them to reach their full potential. This should highly be one of the top qualities of a successful entrepreneur – Leadership

5. Don’t be afraid of asking questions (Ask away)

Often entrepreneurs are discouraged and a bit apprehensive to enter the startup world due to lack of knowledge and experience. 

While this is normal human nature, it is imperative to keep inhibitions and ego aside and adopt a curious attitude.

There is so much to learn and entrepreneurs need to erase their doubts and questions in order to have a successful venture.

Always have an open mind and be ready to learn.

Even if you have no one to guide you, you can resort to the internet (literally). Google has all the answers, so throw your questions and keep updating yourself and learning every step of the way.

You need to learn how to communicate and hustle hard, asking the right questions will only help in learning and thus contribute to the overall growth of the individual.

6. Self-motivated (Pushing yourself is the only option, no one will do it for you)

Heading down the entrepreneurial road is not easy. There will be times that you will question yourself, Is this the right thing to do? Will I even succeed in this?

At times like these, motivational quotes won’t help you, but you need to help yourself. You need to stay self- motivated and remember why you began this journey in the first place. 

Staying motivated and working hard is one true quality of an entrepreneur because somewhere down the road there will be individuals who will look up to you when times are hard.

7.Vision (Believe in it and turn that vision into reality)

Before venturing into a business it is important to have a clear idea and vision regarding the future of the venture.

Think long terms goals for your business, think big and never settle for the ordinary.

Different people have different expectations when it comes to running a business. But the ability to be future-oriented and work towards predetermined objectives is a quality unique to entrepreneurs.

Look at how Steve Jobs transformed Apple into such a huge company. How did he do it? Well, he obviously had a team of talented engineers, but his vision for the home computer literally transformed everything.

8. Confident (Eat confidence for breakfast and tackle every obstacle)

Be so confident like Vince McMahon when he marches out with the billionaire strut. (I’m kidding, but seriously you need to be confident about your business)

Entering the world of business is in itself a challenging task, your business is like your baby. So take care of it and stand behind it.

Growing your business involves a lot of effort and decisiveness. An entrepreneur must believe in themselves as well as their venture. Only then can challenges be easy hurdles for you.

 9. RiskTaker (Big leaps, Big Rewards – Simple as that)

Many times entrepreneurs are required to make decisions in uncertain times with almost no knowledge of the outcome. (you need to have big b*lls for that)

This is an extremely stressful process as every decision made involves a certain amount of risk. 

Therefore risk-taking is an important quality of a successful entrepreneur. Making the right calls at the right time is essential to enjoy long term gains.

10.Optimistic (Keep going and trust the process)

The world has never been more competitive. Rapid changes in technology make an entrepreneur operate in uncertain events, being disheartened by failures and giving up is what leads to the downfall of many entrepreneurs.

Failure is a stepping stone to success and successful entrepreneurs recognize this and are always optimistic regardless of the turn of events.

It is important to adopt a never give up attitude.

These are some of the top qualities of a successful entrepreneur that you can develop too.

Although the journey can be tough as well as fruitful, nothing works unless you do.

Before I finish this article, I would like to mention a few movies that you can watch and take inspiration from. They are some of my favorite entrepreneur movies of all time.

  • The Pursuit of Happyness
  • The Social Network
  • The Founder
  • Jobs
  • Joy

Getting out of your comfort zone and working towards your goals is the first step. 

Look, not all hate a 9 to 5 job, there are some who love it and some who hate it. But I hope you get a brief understanding of what it takes to become a successful entrepreneur.

I hope you found this article useful, do share it and let me know in the comments about your entrepreneurial journey.

Have you started it? Or on the verge of leaving your job. I would love to hear from you.

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