Do You Have the Right Entrepreneur Characteristics?

A successful entrepreneur possesses certain characteristics that make them more suited to run a business. However, these characteristics depend on the entrepreneur and their experience in the business. 

Research showed that some successful entrepreneurs claimed that to succeed in the business industry, you must take action, have courage, and possess perception. Others claim that a successful entrepreneur should have neuroticism, agreeableness, extraversion, conscientiousness, and openness. 

With the different claims for entrepreneur characteristics, it can get confusing which should be the top traits. To make it clear, we will present the best qualities of an entrepreneur based on research conducted among successful business leaders. So, here is what you need to know:

The Top Entrepreneur Characteristics Based on Research

The same research conducted their online survey on 10,000 CEOs and company founders in different industries. However, there were only 2,631 business leaders who responded, and they are businessmen who have generated a revenue of £773,465 or higher annually. 

Upon analysing the data, one character gained the highest rate (61%), and that is the ability to visualize goals. This trait allows an entrepreneur to create a clear route towards achieving their goal. If they know how to visualize their end goal, they stay on the right track. 

The other top entrepreneur characteristics are as follows:

  • Good work ethic (45%)
  • Resilience (41%)
  • Positivity (35%)
  • Passion (34%)

The research concluded that entrepreneur character traits may vary on each individual, but there are certain traits that businessmen should focus on developing. These characters are the ones mentioned above. 

How Do You Develop the Right Entrepreneurial Traits?

Based on the data above the top 5 entrepreneur characteristics are what many successful businessmen have. You may have a few of them already, but if you want to develop others, there are things you need to do. We will discuss the methods for each trait below:

The Ability to Visualize Goals

As mentioned earlier, it is your ability to see or visualize your end goal. Having a clear path towards your goal helps you stay focused on completing your daily tasks. When you do, you have a higher chance for success

To visualize the path to your goal, you should write a vision statement. Writing it creates a guide for you on where you want to take your business. Your vision statement should include your finances, business quality standards, progress, and methods to improve your strategies.

Good Work Ethic

A good work ethic deals with supporting the goals and values of your business by doing your job the best way you can. It helps you become professional in appearance and attitude. To develop a good work ethic, you should practice punctuality, nurture self-discipline, use time wisely, and stay balanced with work and life. 

Resilience 

Resilience is key to bounce back from your losses, big or small. This can be a tough trait to develop, but with practice and experience, you will achieve resilience. To develop this trait, you must first see difficulties as challenges. Instead of looking at the mistakes or failures, focus on the opportunity to grow. 

Once you accept challenges, commit yourself to overcome them. This way, you will find better solutions to the challenges you face. Focus on the reason why you started your business, so you have the motivation to get out of bed every day.    

Positivity

Staying positive will be hard in the most difficult situations of your business journey. You will reach a point of not having reasons anymore to move forward. However, you can practice positivity daily to keep your mind strong in difficult situations. 

First, you should separate reality from fiction. Instead of focusing on the negative thoughts as reality, think of them as just thoughts in your mind. They are not facts. 

Once you separate them, you can start focusing on identifying the positive thoughts. Switching your mind from thinking about negative to positive will create a refocus of your attention. If you concentrate on the positive things, it changes your mood and keeps you motivated to work.

Passion

The challenge in having a passion is maintaining it. How long will you have that passion burning? Will it last until you reach your end goal? If it will not, you need to keep it alive. 

What you can do is surround yourself with people full of passion. This way, you will be inspired by their success stories and how they overcome their difficulties. You must take a break from your work as well. You need to recharge, so you can continue working your way towards your end goal. 

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Do You Have What It Takes to Become a Successful Entrepreneur?

Yes, you will! You may have only a few top entrepreneur characteristics now, but you will develop other traits with practice and experience. Rethink your end goal in running your own business, so you can assess how you can work your way to success. It may take time to possess all these top traits, but with patience, you will be the entrepreneur you want to be.