Being an entrepreneur is tough. It takes a certain kind of mental skill to wade through the ups and downs of entrepreneurship. Some days you’re riding a high with lots of praise and sales, and sometimes for weeks, or months at a time it can seem almost silent. Because of this, there’s certain successful entrepreneur traits that become imperative to watch out for and then absolve into ones business personality.
So what are these successful entrepreneur traits?
Keep in mind; these aren’t the only things that are important when building a business. There are many traits that are necessary; but these are the ones I most often see with business owners that stay in business for the long haul.
Trait 1: Resiliency.
Resiliency is important because business is tough. Starting and running a business is not one easy straight line. It’s often a zig-zag, taking you on triumphs and failures sometimes in the same day. If we get too caught up in either the success, or the failure, the business won’t get very far. You’ll either become complacent, or defeated. By choosing to stay resilient you’re telling yourself that you’re here for the long run. That ups and downs will happen but you’re ready to truck through them.
Trait 2: Adaptation
Adaptation is a necessity. Especially in these times that technology is changing faster than some people can keep up with it, it can be really easy to get left behind in the digital age. More important than being adaptable is the adaptability mindset. Being open to change and always being a student. If we clench down in what we knew was true at one time, it becomes less true with age.
Adaptation is a necessity in the digital age.
Trait 3: Tough Skin
The act of having tough skin and being able to take criticism is one of the most important traits of being an entrepreneur. The only way to improve is to be open to what we can do better. No one starts a business understanding how you can be the best on the first day. If it was that easy, everyone would already be millionaires. It takes thick skin to accept and relish in constructive criticism to improve.
This is one of the principles of the book Ego Is The Enemy by Ryan Holiday. A must read for anyone pursuing entrepreneurship.
Constructive criticism is a must to move your business forward.
Trait 4: Personable
Entrepreneurship relies on people to buy whatever it is you’re selling. One of the pillars of sales is the know, like and trust factor. If you’re hiding away your business, and don’t know how to talk to people to get them to like you, it’ll be a hard chance that they will purchase from you. Just look at any major business scandal since the dawn of time. Any time someone finds out the CEO is into something shady, or immoral, sales drop drastically. Most recently the My Pillow CEO was dropped by almost all of it’s retail stores because he was claiming the 2020 election was fraught with fraud.
Trait 5: Innovative
If you’re not creating something of value, or recreating something in a new way, why would anyone purchase it? Entrepreneurship forces each business owner to find the best new way to servicing a product. This is also called you USP; unique selling proposition. What do you do better than everyone else? Is your price lower? Did you cut costs in half? Do you know just how to capture a toddler’s smile before their meltdown? Whatever the specific business that you have, being able to capitalize on that innovation makes you stand out for your competitors.
Do you agree with these successful entrepreneur traits? What trait would you add to this list?
Like this post? Check out my other blog posts here about running and thriving in the online business world!
P.S. If you’re struggling with ditching underpricing in your online business, check out this free course HERE on how to make sure you’re priced for your value.