What it Takes to be an Entrepreneur

How many times have you heard people talk about how they wish they could run their own business? It’s part of the American dream, so it’s not surprising that so many people wish they could become entrepreneurs.

Wanting to become an entrepreneur, however, isn’t the same as having what it takes to build a successful business. These five traits are signs that you could be a successful entrepreneur.


You Love Taking Risks

Starting a business is a big risk. You should know that most new businesses fail within 10 years. If that fact makes you feel even more determined to form your own company, then you may have the right personality to make it as an entrepreneur.

Make no mistake, though. Very smart, talented people often fail several times before they find success. Oprah Winfrey got fired from her first job in television, 27 publishers rejected Dr. Seuss’s first book, and Sir James Dyson tried more than 5,000 prototypes before he invented the bagless vacuum cleaner that bears his name.

If those people failed, you could, too. If that doesn’t scare you enough to give up your dream, then you have a good chance to make a name for yourself.

You’re Curious About Everything

You never know where the next inspiring idea will come from. As an entrepreneur, you have to keep your mind open and remain curious about everything that comes your way.

The life of Steve Jobs offers an outstanding example of this. Jobs was much more than just a developer of computers. He wanted to know everything he could about art, music, animation, and aesthetics. Without his diverse curiosities, Apple products wouldn’t have the style that makes them so distinctive.

Curiosity also helps entrepreneurs discover new ideas that can lead to successful businesses. Melding ideas from two or more different disciplines could give you the advantage you need to provide a unique product or service that meets an unknown market demand.

You Work Until You Reach Your Goal

Tenacity is one of the most important traits for an entrepreneur. If you’re the kind of person who gives up when a job gets tough, then you probably are not meant to run a business.

A lot of people know that they can work hard in certain fields, but they don’t know whether they have the right skills to sell items to consumers. Selling Amway products a few hours a week will help you decide whether you have the entrepreneurial spirit. If you love reaching goals, connecting with your clients, and making money, then you can probably be a successful business person.

You’re Good at Solving Problems

Entrepreneurs spend a lot of time trying to solve problems. Some problems have simple answers: If one of your employees didn’t show up this morning, how will you fill his or her position to make sure production doesn’t fall behind today?

Other problems take more effort to solve: If an investor wants you to increase profits by 10 percent this quarter, how will you meet this challenging demand?

The best entrepreneurs enjoy finding creative ways to solve problems. Business owners who want to follow the same processes every day probably won’t survive in a competitive marketplace that demands change.

You Have a Lot of Self-Confidence

Entrepreneurs must convince other people to follow them. Whether you’re asking an investor to give you $1 million or you’re telling a supplier why he or she should lower your prices by 5 percent, you need to project confidence that will convince other people. After all, if you don’t believe in yourself, no one else will.

Luckily, you can learn how to become a more confident person. If a lack of confidence is the only thing standing between you and your dream career, then you can follow a few rules and exercises to overcome your problem.

Not everyone gets to build companies that make them feel fulfilled and excited about life. Having the right personality traits, however, can put you ahead of other people. Nothing can guarantee that you have what it takes to be an entrepreneur, but these are qualities that can give you an edge.

Published by Kidal Delonix (1198 Posts)

Kidal Delonix is a contributor to Mr. Hoffman's blog. The views and opinions are entirely his/her own and may not reflect Mr Hoffman's views.

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