Traits That Every Successful Entrepreneur Should Display at Work!

Running a company or owning a business isn't a cakewalk. Maintaining a consistent workflow, developing composure and balancing temperament may not be a part of everyone's skillset. The amount of stress that comes with such a role is another element that many people aren't willing to take. Yes, entrepreneurs have unique characteristics that define them; these qualities may decide their extent of success. Business is not just about turning an idea into reality; it comes with other obstacles, too. It goes way beyond that!

Most revolutionary products indeed fail to make an impact in the market. Almost 66% of the startups fail to deliver a profitable return to their investors! But why do they fail to impress the market? A large number of promising projects fail to provide any returns. What could be the reason behind it?

Entrepreneurship is way beyond the process of running a new business. It is an integral part, though. However, entrepreneurship is more nuanced. Numerous factors make a business successful; if you have a great concept and proper funding, you have completed 50% of the job.?

However, in a fully operational business, other critical ingredients make an entrepreneur successful. Let's discuss some common qualities of successful CEOs: they focus on speed, delivery, and conviction, upscaling the impact, proactively adapting to new things, and consistently delivering reliable output.

All these might be some of the most common and overlapping traits of business founders. CEOs like Jeff Bezos, Brian Chesky, Elon Musk, Amancio Ortega, and such are business leaders who have always focused on creating new opportunities; risk-taking is in their blood!

They not just validate their ideas in the market but also find new ways to deliver value to consumers. Entrepreneurialism in the United States of America is roaring! In March 2019 there were 770,609 businesses but the figure saw a huge jump in 2020 - the number shot up to 804,398 businesse s! Entrepreneurship shows no signs of stopping. However, there are few characteristics that every entrepreneur must showcase to stand apart from the crowd. Successful business leaders come from all walks of life, we can't pin down an exact personality profile, but we can describe a few common traits of successful entrepreneurs.

1. Entrepreneurs are passionate

Being passionate is one of the most crucial characteristics of entrepreneurs. Why passion? Well, it is one of the most apparent reasons that drive entrepreneurs! Even Steve Jobs said, “You've got to find what you love !” Hence, you need to be passionate about every element of your work. Successful people are successful because they love what they do.

As an entrepreneur, there will be times when you have to put in the extra effort or extra hours. 58% of entrepreneurs in the USA report that they also work during irregular hours. To flourish and make your business successful, you have to go beyond the parameters of money. You have to find new strategies to make your business better each day.

2. Tactfulness

Great entrepreneurs are great with communication as they possess strong people skills. People skills are fundamental because they help the business leader to sell the product in the market and encourage their team members. It also helps the entrepreneur in fostering teamwork. According to a survey conducted by the National Association of Colleges and Employers, almost 87% of employers want individuals who have a solid ability to work in a team. Teamwork is a critical attribute that is expected out of everyone. Be it, young individuals or industry veterans.

The ones who can motivate individuals, build seamless communication with their employees or audiences, and are more human in expressing their thoughts, are the ones who have potent people skills. It helps their business grow and makes them competitively more superior than other entrepreneurs.?

Source - https://twitter.com/richardbranson/status/1073952110805508096

3. Flawless work ethics

Business leaders, entrepreneurs, and CEOs are the ones who arrive early to the office and leave when most of the employees are home. From extending work hours, cutting down on holidays, to work during the weekends, they make sure that they meet their business's expectations. When you love something, you cannot be dishonest with it. Hence, entrepreneurs portray solid work ethics even when they are not in the workplace.

4. Creative and innovative

Creativity can be a huge differentiator between the progress of two different organizations. One of the first aspects of being creative is the knack of finding a relationship between two unrelated events.

They seek inspiration from their customers, never hesitate to take feedback on their services, and develop exciting solutions. They tend to combine several strings and repurpose ideas into newer and more effective ones.

Source - https://twitter.com/bchesky/status/813219932087390208?lang=en

Source - https://twitter.com/tim_cook/status/381131235247923201?ref_src=twsrc%5Etfw ?

5. Risk Tolerance & Confidence

You'll hardly find a successful entrepreneur who holds back himself from asking questions. You will always find them more curious than others; they will have a box full of doubts as they love to study things from various perspectives.

It gives them confidence when they know how things work; since they look at things from a holistic perspective, they gain exponential expertise over a subject matter. Over years, as they work on several business ideas over the years, they tend to sharpen their analytical skills which helps them in tolerating ventures that have high risks! You can see them radiating confidence as they walk into a room.

6. Receptive & decisive

Successful entrepreneurs are highly proactive and don't wait for people to permit them to do something. It makes them more open-minded, which helps them in understanding the depth of a situation. In general, receptive and decisive people are successful as they can evaluate the opportunities in front of them. According to a survey by Statista, 13% of the respondents said that business development is one of the most in-demand skills in their company.

CEOs, CFOs, COOs, and other C-suite business executives should be decisive; it will help them create new ideas regarding new potential businesses and will help them during business development. It may help them in generating new ways to improve their skills, workflow, or efficiency. It also helps them to maintain their focus towards a specific goal or objective.

Source - https://www.pexels.com/photo/two-women-standing-beside-brown-board-on-wall-3184296/

7. Highly Competitive

There are thousands of businesses that come and go each day. The competition is increasing in every industry. Hence, every business leader may feel that they can perform better than others. They chase the top spot as they aim to win. Such a highly competitive nature may benefit the employees as it might inspire them to work harder. When an organization becomes highly competitive, it becomes more prone to achieve success!

8. Disciplined

One cannot accomplish goals while being surrounded by lots of distractions. Hence. Several entrepreneurs discard time-consuming events. They focus on channelizing their energy into making their business operate seamlessly. They see distractions as obstacles between them and what they wish to achieve. You'll always find them outline how they will move forward in the next quarter; hence, there is discipline in their planning.

Key Takeaways?

Apart from these personality traits of successful entrepreneurs, you can see their desire to be at the top of the market. A passion-driven, dedicated individual will head towards their goals no matter what comes in their way. Their determination seems endless; however, when work becomes "work," the determination ends! Apart from having a top-notch understanding of the market, one of the crucial traits of entrepreneurs is that they know how they must communicate, be it with their clients or employees. All these traits mentioned above are pretty common in successful entrepreneurs. Individuals who portray these traits in the workplace have begun their journey towards success!