Here’re a Few Key Traits of Successful Entrepreneurs

Entrepreneurs are surely a different breed – they think differently, they act differently and they look at the things in a different manner. But what are the factors that distinguish them from rest of the crowd. I have shared a few of the most common traits of successful entrepreneurs:

1. Have a customer centric approach

There is an old saying that ‘Customer is the king’. Entrepreneurs should keep this saying in their mind from the very beginning and should make all the possible efforts to keep their clients happy. A roughly estimated stats says that that a businessman has a probability of loosing his client 4 times if he comprises the quality of service or product. Therefore, satisfaction of customers should be their utmost priority.

2. Always be ready to take the road less traveled

Herd mentality is one thing that entrepreneurs should definitely avoid. They should always be ready to take the road less travelled and to land into something new. Some of the best things that the world has got like Apple, Facebook happened just because few people had the courage to do something innovative.

3. Capable to take decisions wisely

Entrepreneurship brings many responsibilities with itself and entrepreneurs know this very well. Running expenses of any business like salary, rent, bills have to be paid on a regular basis and all these have to be borne by the businessman irrespective of profit or loss. Therefore, a businessman should always take things seriously because at end of the day, they are responsible for themselves.

4. Do invest in yourself

Rewarding and relishing themselves is an act that entrepreneurs must value a lot. You can’t make others better unless you make yourself better first. Therefore, recharging themselves is also an integral part of business: after all, they are the one’s who have to run the business and if they themselves are not content, then their productivity would certainly be affected.

5. Life is all about learning

There’s always something you don’t know and something else that has just yet to be discovered. A successful entrepreneur should always be knowledge hungry because one can’t expect to run a business with same old age techniques. Learning is an ongoing process and successful entrepreneurs should know this fact very well.

7. Unafraid of failures

Famous physicist Albert Einstein said. “ Anyone who has never made a mistake has never tried anything new”. Failures are a part of life and an entrepreneur should not at all be scared of failures that may come in their way to success. The ultimate winners are the one’s who emerge as successful leaders.  Risk is the base of any business and an entrepreneur should not at all be afraid of taking a plunge into the uncharted territories. But, that doesn’t mean that he or she should go ahead and take risks based on any useless hunch, rather they should take calculated risks backed by a strong research and extreme hard work.  

8. Know how to keep employees encouraged and happy

Keeping employees happy in any economy is hard work. Why? - Because happiness is, primarily, an inside job. In other words, happiness comes from within a person. However, friends, family and employment can add to or detract from someone’s happiness level. So if the workplace is stressful and/or painful things are happening, such as “back-stabbing” and gossiping, employees’ production goes down.

Happy employees are also satisfied and feel a sense of accomplishment in their work. They like themselves and what they do, and they find satisfaction from their work – a sense that what they do is important and meaningful. Such feelings reduce stress, which is a major factor of productivity.