Clearly, you are already amazing but you want to be an entrepreneurial rockstar? Ya you do!
Here are 10 of the most important traits entrepreneurs must possess in order to maximize their success based on my experience and research. A lot can be learned from the experiences of others who have come before you.
The best part?
All of these traits can be learned and developed. Success is within your control.
Entrepreneurs tend to be an impatient group. You dream, you hustle, you push. You can get frustrated and impatient when you don’t immediately experience success. Impatience drives frustration and is the emotional groundwork for failure. Impatience can make you short-sided leading to poor business decisions and distraction from your goals.
A flower doesn’t plant itself and bloom in a day, a baby isn’t born in a week, and a brand and business isn’t built overnight. The best things in our lives truly are worth waiting for.
You really have two choices. 1.) Accept that changes, failures and the like are going to happen, roll with it, adjust, and potentially profit or 2.) Fight the inevitable, deny that these things will and are happening and be left behind bitter, worn out and lost. I have seen business owners on both sides of this choice.
I know which side I want to be on.
Confidence sometimes gets a bad rap — but theres a difference between being cocky and being humbly confident. The latter is a prerequisite for entrepreneurs. There will be many times when it feels like the world (read the in-laws, the financial planner neighbor or soccer mom from town) is telling you that you cant do this thing called business and you will need to be able keep your head up and forge on.
Your quiet humble confidence is the trait that will allow you to give them the figurative (maybe even literal — but not at your kids soccer game) middle finger.
News Flash: You don’t have a boss anymore. You are the boss now. There is no one to tell you what to do or when to do it by. Without those corporate guardrails you need to figure out whats most important, how to get those things done well, and get them done fast.
The future of your business depends on you and only you.
No pressure - right?
The idea that you started with may need to be adjusted. Your business plan may be off. Your product may need to be revamped. As an entrepreneur you have to be able and willing to pivot at any point in time. This may mean moving away from your idea and towards what the market demands.
Change happens. Adapt or sink like the Titanic while tied to your unwavering commitment to something that doesn’t work.
There is no polite way to say this — you will get knocked on your ass, probably more than once. Whatever the issues are (and their will be issues) — they will test your ability to keep going, move forward, and win.
Resiliency isn’t just about getting back up and trying again. Its about learning from what has happened and emerging better because of it.
Consistency, that is doing something (hopefully the right thing) over and over in a predictable pattern, is vital to your success as an entrepreneur. It creates accountability, motivation, and gives you the ability to measure results.
If you’re playing for the long game, consistency is key.
You don’t have to invent the next iPhone or start a revolutionary company like UBER. Your deliberate and consistent (see above) efforts towards recognizing patterns and seeing connections that others may fail to notice will lead you towards higher levels of long-term success.
Sales aptitude is mandatory. Your products and services aren’t the only things that you’ll need to sell in your new business gig. You will need to sell the value of your company and yourself. You’ll need to sell prospective employees on why they should join your mission. You’ll need to sell your husband on why he needs to take the kids to their events solo on Saturday so you can work on your business launch….
You get the point.
Sales skills are a fundamental part of being a lady boss. Embrace it.
10. Self Awareness
The most important trait. Your ability to accurately understand your strengths, weaknesses, and tendencies and the impact that these factors have on the people around you is critical to your success as a business leader. In a study undertaken by Green Peak Partners and Cornell University examining 72 executives at companies with revenues from $50 million to $5 billion, it was found that “a high self-awareness score was the strongest predictor of overall success”.
It all starts here. If you don’t really know yourself, you cant determine what you need to work on in order to reach you maximum potential. You wont know what kind of talent to surround yourself with in order to supplement your strengths and minimize your weaknesses.
Call To Action: Make A Commitment And Practice
Entrepreneurialism is hard.
Theres so much to stay on top of. Overwhelm is the norm. Less critical initiatives get back-burnered for the fire drills and opportunities that come in real-time. Often, that means personal development gets moved down the list and eventually, it falls off altogether.
But you’re worth more, aren’t you?
Your business is worth more, isn’t it?
Make a commitment to develop into your best self in order to propel your success in business and life.
Make a commitment to practice and develop each of the traits above. Integrate them into your daily routines, one by one, in small manageable chunks. Practice them until they become a natural part of who you are and how you operate.
Success traits aren’t genetic. They can be learned.
You’re worth the work.