8 personality traits that make successful entrepreneurs

8 Personality Traits That Make Successful Entrepreneurs

Published on January 17, 2022

Over 24 million Americans dream of becoming entrepreneurs. This staggering statistic shows that many of us have a common goal: the freedom and flexibility of owning your own business.

If you have a fresh idea, you've probably thought about turning it into a moneymaker. After all, what's better than getting paid to do something you love? But have you ever considered if you have the soft skills to reach success?

Let's explore the top eight personality traits of entrepreneurs and see how you stack up!

Becoming an Entrepreneur

The Mirram-Webster Dictionary defines an entrepreneur as “one who organizes, manages, and assumes the risks of a business or enterprise.” So along with being a risk-taker, most entrepreneurs have organizational and leadership characteristics.

Ultimately, an entrepreneur is anyone who owns or operates their own business.

Do you remember filling out those career tests back in high school? Maybe one of your results was "entrepreneur." It's a frequent job suggestion, because almost everyone has the skills!

The key to becoming a successful business owner is leveraging these skills. Look at where your strengths lie and build upon them. Don't be afraid to explore your weaknesses as well.

Once you face and accept your weak points, you can start to improve. Does public speaking make you want to throw up? Don’t let that stop you from moving forward. If you're going to be doing a lot of sales pitches and presentations for your business, then it's better to face your fear and take a public speaking class to work on your skills. You can always overcome your fears and build your skill set over time.

Whatever your strengths and weaknesses, you can become a thriving entrepreneur. Now let's get into those essential entrepreneurship skills!

1. Consistent Self-Improvement

Many professionals in the industry agree that lifelong learning is crucial to success. As an entrepreneur, you need to keep up with trends, news, and markets. Attending webinars, listening to podcasts, reading blog articles, or signing up for an online course are great examples of how you can stay informed and even get new ideas. You risk being blindsided by problems if you're not aware of what's happening in your industry and the economy.

Moreover, learning agility is essential for entrepreneurs. It is the ability to spring into action even when you don't know what to do. Rather than hesitating, highly agile learners make fast decisions.

Thanks to the internet, you can learn how to resolve just about anything with a quick Google search. There are plenty of resources available including videos that can teach a wide variety of skills. You don't need to be an expert at everything; you just need to be quick to react and willing to learn.

Learning to resolve your own problems can also allow you to save money, which you can use to invest in your business instead.

2. Create Meaning Through Passion

If your only goal is to make money, that's not going to cut it. You must be passionate about the work you're doing. This passion is what will keep you going when things get tough.

Being an entrepreneur is not an easy job. There's no clear-cut path, or a one-size-fits-all guidebook. Sometimes, you have to pave the way. And unless you feel deeply passionate about your ideas and business plan, you won't be able to keep up.

Even if your ultimate goal is to make money, try framing the business venture in a positive light. For example, an online business directory can be a very valuable resource for your community. It helps connect customers with local business owners and helps support the local economy.

When you look at it that way, a job becomes more meaningful. And meaning is crucial! Over 90% of workers in the U.S. would take a pay cut in exchange for a more meaningful position.

3. Strong Work Ethic

In the beginning, you will be your sole employee. We usually talk about "being our own boss," but we never look at the flip side. Yes, you're the boss, but you're also the employee wearing the most hats.

A strong work ethic is essential for success. As your own boss, there is no one directly overseeing your work or ensuring you meet deadlines. It means putting 100% effort into your work and possibly making some sacrifices along the way. The great part about owning your own business is that you dictate your own success and how much effort you want to put in to scale your business.

It also helps if you begin with a simple business model at first. An online business directory can be a low-cost, low-pressure side hustle at first. With time, it can grow into a full-fledged business! When you work with Ideal Directories, you also have the support of a dedicated team to help you along the way so you'll never feel all alone.

4. Creative Thinking

Creativity is the basis of entrepreneurship. Before you start a business, you need to think of an idea. It can be a unique, niche product or service that isn't available already. Or it can be a proven concept that you launch in your own market.

Then of course there are the tasks of choosing a business name, creating a logo, and identifying your brand. From there, you can let your creativity really shine in developing a market strategy around your brand to promote your product or services,
putting your business in the best light possible.

In addition to being a creative thinker, you'll need to be creative in how you problem-solve. Being a business owner can present various challenges, and you need the skills to solve them.

If your online business directory isn't getting the web traffic you know it deserves, it's time to brainstorm. Creative thinkers would find ways to market themselves better. You might need to work on your sales pitch, advertising, or community presence.

5. Sense of Adventure

A sense of adventure is an essential quality of an entrepreneur. While a typical 9 to 5 job provides stability, it doesn't always allow room for growth. That's the mindset of an entrepreneur, anyway!

Entrepreneurs are out in the world, forging their path. There's no 100% guarantee of success, but they don't mind because they love a challenge. This heightened sense of adventure allows them to take risks and push the boundaries.

If being risky and tackling challenges head-on frightens you, consider a low-risk business option. An online business directory requires a tiny monetary investment and has built-in tools to help you succeed.

6. Strong Communication Skills

Communication skills are essential to nearly every customer-facing job on the planet. But especially as a business owner, you need to communicate clearly and effectively to build your customer base. That means turning strangers into long-term consumers.

Examples of how communication skills are important as a business owner include:

  • Effectively marketing your business
  • Delivering successful sales pitches
  • Smoothing over customer issues
  • Keeping your customer retention high
  • Speaking with stakeholders and investors to join in

But what if your business idea is simple and doesn't involve stakeholders or angry customers? You still need strong communication skills! For example, when starting an online business directory, you'll need to sell listings.

You'll have to seek out businesses and show them that joining your directory makes sense for them. Without the proper communication skills and well thought out sales pitch, you won't get much action. But don't worry, these skills are also often developed with time and practice!

7. Detail Oriented to Achieve the Big Picture

Aren't small details and the big picture complete opposites? They are! But a successful business owner needs to perfect both points of view.

Details are extremely important in running your own business. You need to track your budget, order supplies, and pay employees on time. Diligence, organization, and time-management account for these details.

But you also can't get so bogged down by particulars that you lose sight of the end goal. Keeping the big picture in mind at all times will help increase your motivation. It'll be your reason for dealing with all the tiny annoyances of daily life.

An online directory business is a great option that alleviates the stress of small details including building the foundation and structural maintenance of your business. Professionals can host your website for you and offer support to take care of any tech issues.

For example, Ideal Directories makes setting up your online business directory a breeze. Your site can be live in 24 hours! Plus, we take care of all the small stuff so you can focus on the big picture and on the tasks that make you money.

8. Flexibility and Openness

What do you do when things go wrong? How do you deal with change?

These are good questions to ask yourself when considering entrepreneurship. A strong boss keeps their cool when things go haywire.

Having the strength of flexibility allows you to go with the flow. Option A didn't work? No stress, let's try Option B.

Then make time for reflection to work on self-improvement. Flexibility allows you to shift your focus and learn from mistakes.

Openness is another desired personality trait in the business world. Collaborations, trying new ideas, adopting social media, and so on! These are some of the best ways to market yourself, but many people are closed off to these opportunities.

Being open to new ideas and evolving with the market is one of the biggest secrets to success.

Do You Have the Personality Traits of Entrepreneurs?

Some people think entrepreneurs are born, while others argue that experience and time create them. If you identify with these personality traits of entrepreneurs, what's stopping you?

But even if you need some time to hone or perfect these essential skills, don't worry. Rather than taking the plunge in the deep end, dip your toe into the world of entrepreneurship with a low-cost, low-risk option. One of the best opportunities is an online business directory.

Get your free info pack from Ideal Directories, and learn how you can be an entrepreneur in less than 24 hours!

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