So, you want to be a successful entrepreneur. It’s a worthy goal. Making a positive impact on the world, working toward your goals, and solving social issues for people or groups are all things that entrepreneurs do. Entrepreneurship can be exciting and demanding, but it can also be unfulfilling and unproductive. There are habits and skills that you should intentionally develop to become a successful entrepreneur.
Don’t worry if you don’t naturally have these skills or characteristics; you can develop them over time. While money may easily be inherited, the building blocks of a successful entrepreneur can be accumulated by anyone through intentional habit-building.
Related: Do’s and Don’ts for Entrepreneurs Under 25
What are the Top Characteristics of Successful Entrepreneurs
To ensure the success of your business, here are several characteristics and habits for you to develop.
They Have a Clearly Defined Vision
For you to move forward with any business idea, you have to know where you’re going. Similarly, it would be impossible to develop a successful business without first creating a clearly defined vision for what you would like to build.
Your vision should outline what you want to achieve, who you want to impact, what problem you’d like to solve, and how it will look when you’ve completed it. And while it’s good for your future business to develop a vision, it is best for all of your future endeavors for you to become a visionary. That is, a person who habitually sees the future with imagination and wisdom.
Becoming a visionary is a matter of allowing yourself to see the world as a field of possibilities. Optimistically viewing the world and all the things that happen around you with imagination will cause you to see opportunities where other people only see problems.
It takes a unique person to come up with an imaginative idea and have the motivation to follow through with action. In fact, passion provides the motivation and energy needed to endure the inevitable challenges and delays that happen while building and maintaining any business. Without the drive of passion, you’re likely to give up before you ever reach your lofty goals.
Passion is the strong desire to see an objective met. It doesn’t always feel good, but you need it to get anything worthwhile done.
More often than not, the way to achieve your goals as an entrepreneur won’t be a straight road. You’ll have to think on your feet and come up with innovative ways to accomplish your goals. ‘Thinking outside the box’ is a common term used to describe creative problem-solving that doesn’t restrict itself to the ways things have always been done.
Practice creativity by developing unusual or exciting solutions to some of your everyday challenges.
Related: Top Characteristics of an Entrepreneurial Spirit
Successful entrepreneurs are optimistic about the world. It’s not that they don’t see the problems, but they feel positive that there are solutions for the world’s issues. They’re solution-oriented dreamers. Successful entrepreneurs are always looking for ways to make the world (or their corner of it) a better place. They are forward-thinking and aren’t deterred by obstacles.
Most people begin their journey as entrepreneurs alone and doing ‘all the jobs’ themselves. They usually do their own bookkeeping, social media, paperwork, taxes, sales, etc. Even if your business takes off and you can hire other people to perform some roles, you will still find that you must be flexible. Successful entrepreneurs are willing to learn new skills and try things that they may never have tried before.
Flexibility isn’t just about the roles you take on; it’s also about your thinking. A flexible thinker can change their thinking or attention in response to a variety of circumstances. You can also have mental flexibility, which refers to how you see things and deal with unfamiliar circumstances. You need to be open-minded and willing to adapt when required.
Long after their school days are over, successful entrepreneurs are not finished learning. There are always new skills or knowledge to acquire to advance your business in big or small ways. Don’t be discouraged if academics are now or have been challenging for you. This doesn’t disqualify you from business success. We have many examples of people who were not especially scholastic but excelled in business nonetheless.
There will always be new information to gain in the area of your business. Having a mindset that makes you willing to be a life-long learner is a huge advantage. Learning may be accomplished through books, online courses, workshops, conferences, etc.
Even with your inherent passion for your business, you still need to be taught how to build it successfully. At Beta Bowl, we provide a number one virtual high school entrepreneurship program for motivated future entrepreneurs. You’ll receive a unique online, interactive business-building experience that is outcome-focused and hands-on. Contact us today for more information.
Problems will inevitably arise as you build and maintain your business. Successful entrepreneurs can find fast and creative ways to solve problems. They are also good at making the most of whatever resources they have and are averse to wasting time, money, or energy. They operate intentionally.
Persistent & Persuasive
Because of the possible challenges entrepreneurs face, they develop persistence and become persuasive. Persistence means that they do not give up easily. While they might adapt their goals in light of new circumstances, they still press on with their ultimate goals. They are also persuasive, partly because of their great passion for what they do. They’re able to move people to invest or partner with them – even if they were resistant at first.
Successful entrepreneurs do not waste time procrastinating. They understand the importance of making the decisions that will lead to business success. Although they may be unsure of themselves in the early stages of business, successful entrepreneurs become more decisive as they become more confident in their knowledge and instincts. They recognize good opportunities and don’t let them escape through indecision.
Many people think that being an entrepreneur means that you can sleep in as long as you want, but successful entrepreneurs don’t waste valuable time in the morning – they’re early-risers. They use early mornings to organize themselves and get a jump on their day.
Waking early usually also means that successful entrepreneurs value a good night’s sleep. Sound sleep means a healthier mind and body, better mood and attitude, and overall better functioning.
They Plan Ahead and Use Deadlines
Building a business is no easy feat. It takes planning. Those who are successful at creating impact plan out how they will do it. Their planning is documented, and they add and subtract from it continually. Yes, this includes a business plan, but it’s more than that. Successful people plan each day. They prepare themselves for whatever they will face and already know how they will respond.
Successful entrepreneurs also use deadlines. Allowing some degree of pressure to be exerted on themselves helps them bring out their best. While prolonged stress and tension are not good for any of us, a little pressure can help us be productive. Using deadlines prevents procrastination and keeps us moving in the direction of our goals.
Related: Creative Business Ideas for Kids in 2021
Success can happen for any entrepreneur who allows themselves to develop good habits and skills. Above are just a few of the many practices and skills that successful entrepreneurs have that explain their success. You can acquire these characteristics as well. Just apply yourself to building good habits and see how your business benefits and you grow as a person.
Are you looking to gain an entrepreneurial mindset, so you can take your idea from inception to creating a viable business? Our online course and resources will give you everything you need to succeed at business building. Check out Beta Bowl today!