5 Traits Of Successful Entrepreneurs

by Abby Evans

Starting your own business doesn’t happen over night. It takes hard work, a leap of faith and a lot of heart. During the beginning stages of your business you will have to wear multiple hats: innovator, marketer, accountant and even custodian.

Not everyone is cut out to be an entrepreneur, but if you think you have what it takes, read the traits below and decide how you can utilize them:

Resourceful.

Unless you are blessed with a wealthy background, most entrepreneurs are forced to build something out of nothing. Being resourceful is a must in the entrepreneurial world. How can you get the marketing message out and be effective? It takes some creativity — but it is more than possible on all fronts of business.

How can you pay your team with no funding? Being able to write a great business plan and find the funding your up and coming company needs is a great resource. Business plans can help you land the funding you need and get the right person for all necessary jobs.

Learn from Their Mistakes.

No one gets through life with making mistakes — they happen. Some are bigger than others. Not letting them hold you back to reach your dreams is the difference between some people and extremely successful entrepreneurs. Remember, at one time Apple voted Steve Jobs out of his own company — we all know how that turned out.

Constant Learners.

Staying up-to-date on industry trends is a must. Successful entrepreneurs know how to stay educated and ahead of the curve. This doesn’t always include formal education such as a masters degree or PHD. It is different for every industry, but the more you learn, the more prepared you will be for your company and your employees.

Focus.

We all can focus more at times, but entrepreneurs know when to focus and more importantly where to focus. Knowing where to focus is just as important (if not more important) as focusing itself. Keeping your main goal in mind, sub goals can sometimes get de-railed, so keeping on point is a must for any business.

Passionate.

Without passion none of these other traits could exist. Passion is what drives any successful person to greatness. It has been said people who figure out what they love and turn that into income never work a day in their lives. The most successful entrepreneurs can all say the same.  If you aren’t passionate, you won’t have the motivation to focus, learn new trends, learn from your mistakes or have the drive to be resourceful. So make sure you are passionate about the industry your company will be engaging.

Can people be successful on many levels? Absolutely. Do these five characteristics make or break an entrepreneur? No — but they do embody characteristics of a successful entrepreneur. As I stated earlier, it takes a lot to run a successful business, and it takes more than one person to do so. With the right amount of skill, attitude and drive you can turn your idea into a great business venture.

Abby Evans is an avid blogger who writes on everything from how to find jobs in Toronto to outlining the principles of how to write a killer blog post.