5 Traits of Successful Entrepreneurs

What makes for a successful entrepreneur? Is it an innate ability, or can it be learned? Discover the 5 traits that successful entrepreneurs display time and time again.

Many of us aspire to become a successful entrepreneur, primarily to take charge of our own life. After all, who doesn’t want to be their own boss? Life however teaches us that not everyone is successful. Some people are handed success on a plate, some boom and bust very quickly, and a minority hold onto the incredible success that they make for themselves. This third category of entrepreneur makes the headlines. The world is their oyster, and they seem to be able to do nothing wrong.

What are some of the key traits of successful entrepreneurs, and how can we learn from them?

1 – They Accept Who They Are

Successful entrepreneurs know that success and failure are both part and parcel of life. They know there will be balance. Success, however overwhelming it might be, can still improve. Failure, however bad it might be, is not fatal. These are things that are sunk in deep into the hearts of many entrepreneurs. They know that they are taking risks, and that’s why they sometimes fail. But when they do succeed, they succeed in a big, big way.

2 – They Are Not Afraid of Responsibility

A trait of anyone who is successful is that they take ownership of their decisions. They see through things till the end. They feel such an obligation towards their duty that they find it hard to shirk work when things get difficult. This is a true mark of maturity. A trait seen in a few professionals, yet so important to striking out on your own and winning, successful entrepreneurs exhibit this skill in all elements of their life.

3 – They Embrace Change

The proverb “change is the only constant”, is the living principle of successful entrepreneurs. Having adapted to it, they excel during changes: changes to environments, changes to competitors, changes to degree of competition. One can see that entrepreneurs must adapt to all of these changes. They are well aware of the fact that change is the driving force behind creativity and it is what helps them stand strong under fire and win in their respective industry.

4 – They Accept Shortfalls

Entrepreneurs know their limitations. They know that they cannot do everything on their own and that some work must be delegated. They have such a deep understanding of themselves that the moment they sense an opportunity they are able to know what they must do themselves and what must be delegated. This is a true sign of how powerful they are. Delegation becomes a key factor in their lives, and they are masters at it. Their ability to delegate work that they cannot do makes them a winner, able to achieve so much more than the micro-manager.

5 – Keep a Limited Circle of Advisors

Everyone is entitled to their opinion. Where a successful entrepreneur excels is knowing exactly where they must draw the line. They lend their ears to all, but they accept the fact that in the course of their success, they will earn a few detractors who do not have the same vision as they do. That is okay, it is natural.

As much as entrepreneurs know how to relish in their success, successful people are equally talented in knowing how to learn from others’ success stories. Their positive attitude towards competitors by learning from them is what distinguishes a true entrepreneur from the rest of the pack.

This content is inspired by the article ‘6 Things Mentally Strong Entrepreneurs Don’t Do’ by Erica Noble, first published at huffingtonpost.com.

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