What makes a successful entrepreneur?
A successful entrepreneur embodies many skills, talents, and characteristics that allow them to thrive. Success cannot be easily defined, but it is helpful to recognize that there are certain traits that you as an entrepreneur can have that will help you along your journey to create great and meaningful enterprises. Although this list is not exhaustive, here we look at seven main characteristics of a successful entrepreneur:
1. You have a clear vision
At the foundation of every successful start-up or business is an entrepreneur with a clear vision. What are you trying to accomplish with your business? What change in the world are you wishing to make? Once an entrepreneur has a clear vision of what they want to accomplish, they can take the proper steps to actualize their goals.
2. You believe in yourself and your abilities
Having the belief that you can take your product or business to success is a sign of an effective entrepreneur. This characteristic, more so than the others described, results from self-reflection and development. Entrepreneurs aren’t born with the confidence in their idea or product, it is cultivated. With obstacles bound to find their way onto an entrepreneur’s path, belief in the vision can carry them through all hardships.
3. You take calculated risks and aren’t afraid to fail
Failure will always be a part of the equation, it is inevitable. Despite this, entrepreneurs who actively take calculated risks and ignore the innate fear of failure are destined to succeed in their craft. Even in the wake of a total project failure, the entrepreneurial spirit thrives on the ability to take chances and rise if/when those chances fall through. It is through those failures that entrepreneurs can take the time to assess what went wrong, learn from those wrongs, and continue to take risks.
4. You are relentless in your pursuit of success
To be relentless in your pursuit of success is to take your vision and imbue it with enough motivation to continue in your ventures no matter the results. Building your enterprise is no small feat, and to be committed to that enterprise, to make sacrifices, and to remain vigilant is a defining characteristic for a successful entrepreneur. To be relentless in your pursuit of success is also to remember an important thing: never give up. When an entrepreneur is confronted with a problem, their willingness to remain resolute is the ultimate testament to their entrepreneurial prowess. The drive you have to see your business succeed directly defines how you as an entrepreneur will succeed.
5. You focus on solutions rather than problems
A successful entrepreneur dedicates their time and energy to creating meaningful solutions, as opposed to focusing on the negativity that can come with problems regarding their venture. The inevitability of problems demands an entrepreneur to always be searching for solutions, and with a continued focus on solutions comes success.
6. You have passion for your work
A passion for the project is essential for any successful entrepreneur as they dedicate countless hours of their lives to their venture. Whether it is a brand new invention, an improvement on an existing product, or a revolutionary service, successful entrepreneurs believe that people will buy what their selling. With a great deal of passion serving as a base for their venture, they can easily convey their passion to others.
7. You constantly learn and expand your knowledge base
The final characteristic that you as a successful entrepreneur can have is a willingness to learn and expand your base of knowledge. Even if you’ve become unrivaled in your area of expertise, there will always be something new to learn. Recognizing that you don’t know everything is required to keep your business flexible and valuable. By encouraging yourself to continue learning, you keep the fire bright and burning.
How we cultivate these characteristics at Global School for Entrepreneurship
With Global School’s cutting-edge curriculum that is catered to the growth of yourself and your business, it is our mission to provide you with the proper education required to make the creation and development of your business possible. With our Bachelor of Science in Entrepreneurship and Innovation and Master of Science in Scaling Up, we encourage students to recognize and fortify their entrepreneurial capabilities and characteristics. Within modules such as “Highly Effective Entrepreneurship,” students are encouraged to assess their habits and strengths, and learn to adapt their behaviors to become effective entrepreneurs. At Global School, we encourage students to develop the talents and characteristics that allow them to thrive as change-makers in the world of entrepreneurship.