Do you have what it takes to become an Entrepreneur?

Persistence and tenacity.

“It's easy to start a business, but hard to grow a sustainable and substantial one. “Some of the greatest opportunities in history were discovered well after a venture launched.” (“10 Characteristics of Successful Entrepreneurs - Harvard Business School Online”)

To be an entrepreneur is not as glamorous as most people make it out to be. You must be determined, disciplined, and never give up, the last man or woman standing when all the rest has fallen by the wayside and be able to play the long game to be successful.

You need to

? See what others do not.?

? Be driven to motivate others and yourself,

? Be savvy in building and running your business,?

? Have the guts to make the right decisions, and?

? Remain consistent, day in, day out, year in, year out.

You need to overcome obstacles, grow sales, make money, and keep on repeating this. If this makes you shiver, you’re not alone. Juggling everything to grow your business is one of the most daunting tasks facing entrepreneurs today.

It is not about big ideas or ideals, not about hopes and dreams. It’s not about catching glory. It’s not even about invention or innovation. And it’s not about fame and fortune.

You need to believe in your vision and have the desire, tenacity, and perseverance to make your vision come true, and this might take years to accomplish.?

But, if you are one of those people that gets intoxicated by just thinking about getting up in the morning to work and deal with all the chaos of running your own business, then you’re one of the few true entrepreneurs of our world today.

Fred Wilson, venture capitalist, called tenacity one quality he admired most in leaders and stated that “Every successful company I’ve been involved in has gone through periods where things didn’t work, where something important took too long and doubts crept in. Employees lost faith. The media turned cruel, and you’ve got to hold it all together”.

“It gets harder, not easier, as the year's pile up. That is where tenacity and believing in yourself and your team and your business are required.” (“What Makes a Successful Entrepreneur? Perseverance.”)

To succeed, it must be a way of life. There’s no right or wrong way to do it. You need to possess this entrepreneurial spirit to seize opportunities and overcome challenges on your journey to success.

Some characteristics successful entrepreneurs share according to Harvard Business School:

1. Curiosity

Successful entrepreneurs have a distinct personality trait that sets them apart from other organizational leaders: a sense of curiosity.?

They ask questions, challenge the status quo, and can lead them to valuable discoveries overlooked by other business professionals.

2. Structured Experimentation

Along with curiosity, entrepreneurs require an understanding of structured experimentation. With each new opportunity, an entrepreneur must run tests to determine if it’s worthwhile to pursue.

3. Adaptability

Successful entrepreneurs must be adaptable. The nature of business is ever-changing. It’s nearly impossible to be prepared for every scenario, but successful business leaders must be adaptable.?

4. Decisiveness

To be successful, an entrepreneur must make difficult decisions and stand by them. As a leader, they’re responsible for guiding the trajectory of their business, including every aspect from funding and strategy to resource allocation.

Being decisive doesn’t always mean being correct. If you want to be an entrepreneur, it means having the confidence to make challenging decisions and see them through to the end. If the outcome turns out to be less than favorable, the decision to take corrective action is just as important.

5. Team Building

A great entrepreneur is aware of their strengths and weaknesses. Rather than letting shortcomings hold them back, they build well-rounded teams that complement their abilities.

In many cases, it’s the entrepreneurial team, rather than an individual, that drives a venture toward success. When starting your own business, it’s critical to surround yourself with teammates who have complementary talents and contribute to a common goal.

6. Risk Tolerance

Entrepreneurship is often associated with risk. While it’s true that launching a venture requires an entrepreneur to take risks, they also need to take steps to minimize it.

Successful entrepreneurs are comfortable with encountering some level of risk to reap the rewards of their efforts; however, their risk tolerance is tightly related to their efforts to mitigate it.

7. Comfortable with Failure

Entrepreneurship requires a certain level of comfort with failure.

It’s estimated that nearly 75 percent of new start-ups fail.?

Successful entrepreneurs must prepare themselves for, and be comfortable with, failure. Rather than let fear hold them back, they allow the possibility of success to propel them forward.

8. Persistence

While many successful entrepreneurs are comfortable with the possibility of failing, it doesn’t mean they give up easily. Rather, they see failure as an opportunity to learn and grow.

Part of what makes an entrepreneur successful is their willingness to learn from mistakes, continue to ask questions and persist until they reach their goal.

9. Innovation

Some of the most successful start-ups have taken existing products or services and drastically improved them to meet the changing needs of the market.

Innovation is a characteristic some, but not all, entrepreneurs possess. Fortunately, it’s a type of strategic mindset that can be cultivated. By developing your strategic thinking skills, you can be well-equipped to spot innovative opportunities and position your venture for success.

10. Long-Term Focus

Finally, most people think of entrepreneurship as the process of starting a business. While the early stages of launching a venture are critical to its success, the process doesn’t end once the business is operational.

Entrepreneurship is a long-term undertaking, and entrepreneurs must focus on the process from beginning to end to ensure long-term success.

A successful business, just like life, is a marathon, not a sprint, except there is no finish line. It’s just a way of life, so live it up.