5 TRAITS OF SUCCESSFUL ENTREPRENEURS. DO YOU HAVE WHAT IT TAKES?

5 TIPS FRIDAY. 5 TRAITS OF SUCCESSFUL ENTREPRENEURS. DO YOU HAVE WHAT IT TAKES? Starting a business is a lot of work. Anyone who tells you it's not is either lying or has never actually started one. The hours are long, sacrifices are great and you face new challenges every day. If you can't handle these things, your business could fold faster than it started. Clearly, entrepreneurship is not for everyone. But if you can't lead yourself through startup, chances are you likely won’t be able to lead your business through growth and on to success. Successful entrepreneurs share similar qualities with one another let’s see how you stack up against these five:

1. STRONG LEADERSHIP QUALITIES. Are you the go-to person most of the time? Do you find people asking your opinion? Have you been in management roles throughout your career? A leader is someone who values the goal over the hard work it takes to get there. A leader has strong communication skills and the ability to build a team of people toward a common goal in a way that the entire team is motivated to get there as a team.

2. HIGHLY MOTIVATED. Nobody makes progress by sitting back and waiting for it to find them. Typically, leaders enjoy challenges and will work tirelessly to solve problems that confront them. Successful entrepreneurs are driven by a vision or goal than the task at hand and able to think globally. You are not likely to steer them off the course.

3. COMPETITIVE SPIRIT. Entrepreneurs enjoy a challenge and they like to win. Starting a business is pretty much one of the biggest challenges a person can take on in their lifetime. In business, it's a constant war with competition to win business and grow market share. It's also a personal challenge to use all of this to focus inward and grow a business from nothing into a powerhouse that either makes a lot of money or is so effective that it is sold or acquired for a profit as well.

4. IGNORANCE IS NOT BLISS. Know what you don't know. While successful entrepreneurs are typically strong personalities overall, the best have learned that there's always a lesson to be learned. They are not afraid to ask questions when it means the answers will provide them the insight they need to achieve. Successful entrepreneurs are confident but not egotistical.

5. DON'T FEAR FAILURE. Successful entrepreneurs are risk takers who are not afraid of failure. That's not to say that they rush in head first. In fact, entrepreneurs are often successful because they are calculating and able to make the best decisions in even the worst of cases. But, they also accept that, even if they make the best decision possible, things don't always go according to plan. Do not be afraid to fail, put it out there and give it your best shot.