Top 10 Characteristics of a Successful Entrepreneur

top 10 characteristics of a Successful entrepreneur

What do people who are successful in business have that that others don’t?

What is so special about them, and how do they do it? There must be something different, they must have a fantastic education, the right connections, a super smart mind..surely? Otherwise we would all be successful entrepreneurs.

Have no fear, I believe that most, if not all of these characteristics are things that anyone can learn, so you too can be one of these guys. Anyone can do it.

So what are the top 10 characteristics of a successful entrepreneur, and do you have them?

 

Top 10 Characteristics of a Successful Entrepreneur

 

Characteristic 1: You have Passion

I start with this one because if you don’t have passion then it will never work, I mean true passion. If you decide to set up a business selling cat food, and you have no interest in pets or cats, then you will burn out quickly. If you are starting your business, make sure it is in a niche which you feel passionate about. Something you could talk about or write about forever. You have to be with this passion through thick and thin, through the highs and lows, so make sure you feel it.

And if you have your passion, but no business of yet, you can learn how to turn that passion into a business through training courses such as this one.

 

Characteristic 2: You need endless patience

Building a business from scratch takes time. You simply cannot make money in a month, not in a sustainable long term business.

I have so many people say to me, i want to make money tomorrow, I want to be earning thousands in three months. This simply is not possible. Any other get rich quick business ‘opportunities‘ that make promises of untold riches in no time are simply scams, and not sustainable, Beware!

It’s important to understand that at the beginning a home business takes time to build, whether it is an online business or an offline business. Just because you build a website or create a product doesn’t mean you will instantly have a customer base! And this is a key characteristic of a successful entrepreneur.

 

Characteristic 3: You have a thirst for knowledge

Successful entrepreneurs have a desire to learn more and more. They are sponges!

top 10 characteristics of a successful entrepreneur - learning

The world of the internet and technology are changing so rapidly that in order to be above the game or at the very least, in it, you must have to have a willingness and in interest in learning. And this is in all areas, It might be about internet marketing, your specific niche area, the latest news, the economy. You must have your eyes and ears open for all things business related.

For example if you want to promote your business online, you need to know about the effects of the latest Google algorithm changes, the newest social media regulations and fads. You need to keep up to date with industry news, and more than anything, you need to find this interesting rather than a chore, otherwise it is not sustainable.

 

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Characteristic 4: You must be open and genuine

Business these days is so competitive and often the little businesses get swallowed up by the big ones.

But the good news: if you are just starting out, people like the little fish, they like to KNOW who they are buying from, they like to believe and buy into a business. If a business is small and people can identify with you, you will make a sale.

So show yourself, be a face on your business, tell people about you. They will trust you and they will buy from you. People who are open and genuinely interested in their own business, will shine through, and your customers will see it. Trust in THAT!

 

Characteristic 5: Be prepared to delegate

Top 10 characteristics of a successful entrepreneur - delegationAs your business grows, you will get busier and busier, so you need to be prepared to outsource your work.

Use alternative freelancers, or other resources to write content for you, help with your SEO, or social marketing strategy. Whatever is your weakness, be like a successful entrepreneur and find someone else to cover it. The trick is to find a great team and manage them well, then they are there ready for you when you need them.

There are many resources online for freelance work, Fiverr.com is just one of them, but have a look around and you will easily find something in your niche.

 

Characteristic 6: Have a sincere care for your customers

I recently came across a small business who sold me an oven, there were problems with the oven, and I subsequently experienced the worst customer care I have ever known. I was so cross about it, I wanted to build a website just to slate them. But I didn’t, I have better things to do. But, I have told everyone!!

So don’t be this business. Successful entrepreneurs will go that extra mile for their customers, and it will be clear to their customers that they have. They will trust you and come back, and everyone knows that it is easier to make money from an existing customer than it is to get a new one.

Make sure your customers know that they will get the best service, the best product and the best aftercare.

 

Characteristic 7: An ability to see another point of view

The ability to look from the other side, whether it is a customers, or a site visitors, or from an employee. To put yourself in other’s shoes.

top 10 characteristics of a successful entrepreneur - point of view

This is crucial to working well with people, and the ability to put yourself in the position of another, can really help to empathise with their position and understand the full picture. This leads to not only a happier customer or workforce but a better understanding of how to develop your customer relationships.

Obvious really, but sometimes this point goes unrecognised.

 

Characteristic 8: Being a Doer

Successful entrepreneurs make things happen.

Coming up with ideas and dreaming about where you want to be is good. And its great to have a plan, but you need to make things happen to get there. This can sometimes be an innate quality, and some people say you either have it or you don’t. I don’t agree, you can be taught, you can teach yourself. You have to take the risks and go for it.

No more talking about it, no more saying I’m not sure, no more researching and procrastinating, just do it.

 

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Characteristic 9: You can multi-task

top 10 characteristics of a successful entrepreneur - multitaskingThis might seem like a pre-requisite for an office manager, but multi-tasking is more than an admin skill.

Setting up your own business and being a success at it is like tying together a load of loose ends and making them all work together. And sometimes simultaneously. You need to be able to multi-task and manage many things at the same time. Timing is crucial here, so if you are good at timings and making things happen when they need to, this is really important.

Fitting all these things together will mean you will be great at getting things right at the right time.

 

Characteristic 10: An analytical mind

Using an analytical mind to convert your industry knowledge into an action plan can take some practice but anyone can do it.

Know your market and analysing trends, where they can fit it, where are the holes and where you can specialise in your business, is crucial to finding the right area to target to get that winning formula. It is important to be able to step back and view your business from a distance, see it from the outside so that you can see the holes.

This is not always easy when you are swallowed up by the daily grind, but this is something that successful entrepreneurs can do, and this is one of the things that separates them, and makes them successful.

 

 

Characteristic 11: Focus

So I can’t help it, I’ve given you 11 characteristics. 10 just sounded so much better! So here’s the last one:

Setting up a home business, online or offline can be slow, so a successful entrepreneur will have a plan, and stick to that plan, without being distracted by shiny object syndrome or anything otherwise.

top 10 characteristics of a Successful entrepreneur - focus

This can be hard especially if the start is slower than you hoped, but if you change course or start something else you have lost everything. Stick to your guns (within reason of course) and provided you have done your research, you will get there.

I hope this article has give you some food for thought and can help you step back and take an objective look. Any comments or additional thought would be most welcome:

 

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16 thoughts on “Top 10 Characteristics of a Successful Entrepreneur

  1. Melody says:

    So much great information and food for thought. I believe that the first 3 characteristics are key to getting started. A passion, patience and a desire for knowledge is so important when you want to start a business. Regardless of the type of business you want to start.

    Being passionate about your chosen area and the business as a whole is so important. I believe that without passion your business will soon crash and burn.

    Patience was something I learned the hard way, but now that I have found it I get great enjoyment in watching my business grow and imagining what the future will hold.

    And we must have a desire to continue learning through reading and research. It is key to growing our business and building on our passion.

    What a fantastic article. You have certainly covered all the basis. Thanks for sharing your thoughts. I bet it will help a lot of people pursue their dreams.

    • Ruth says:

      Thansk Melody for taking the time to read my article. I love that someone gets something out of it! You are righ about passion as well. I have started businesses in the past which I didn’t feel that passionate about even though the niche was profitable and I soon lost interest. You must enjoy it to succeed. Same with everything in life. Thanks for your comments Melody!

  2. Viljoen says:

    Characteristic 2 and 8 are some of the most important ones that I know off and that I am struggling with. I do not have a lot of patience and I really struggle to get things done.

    My work takes up most of my time and I am sometimes too tired during the evenings to work. I have to push myself each night to work. Luckily it became a habit and I am now used to it.

    • Ruth says:

      It’s not easy trying to set up something outside of hours, when you have another job or a lot of family committments. It sounds like you have the balance right. I hope you become the Entrepreneur you are striving to be! Good luck.

  3. TheDopestMatrix says:

    I always love readin things like this. it helps me remind myself to do things more often… for instance after reading your article, I think I could be a little bit more considerate of others views more often. I know I take plenty of action but I can always do more! I want to be the best doer on the planet!

    Matt TheDopestMatrix

    • Ruth says:

      Thanks for your lovely comments Matt. Its always good to do a self check isn’t it to make sure you are on the right track to becoming that entrepreneur! Good luck to you!

  4. Tasos Perte Tzortzis says:

    Hi Ruth , you have decided to deal with a very important subject.

    I agree that passion comes first.Passion not only about the exact business model you choose but mainly passion to become someone , to create something useful for the next generations.

    Moreover I want to highlight the #7 characteristic , to be open for another point of view.I believe it is very crucial.Customers behave differently than employees or entrepreneurs.We have to keep that in mind when we deal with our business.

    Have you ever started a business that did not go well?

    I can easily understand that you are passionate about this website model though.Very good article , in depth analysis

    • Ruth says:

      Thank you so much for your comments. I have started businesses before that didn’t go well. I just lacked in customers. But I have picked myself off and dusted myself down and put it down to experience, and tried again. That’s the only way, to not feel defeated or beaten.

      I’m pleased you got something out of the article.!

  5. Robert Allan says:

    Hello Ruth
    First off can I say what a great site you have.
    I as a member of wealthy affiliate know how much work goes into creating a functional site that also looks good.
    You have loads of really good information for anyone who wants to work from home without being considered ‘Pushy’.
    I always think that’s the best approach because although people would like to work from home they also want to believe it’s their decision.
    With your articles you are doing just that so people don’t feel pressured.
    It’s also a great deal with those two free websites and hosting so it doesn’t cost anything for anyone just to have a looksee and decide if it’s for them.
    I wish you lots of success.
    Robert Allan

  6. Jay says:

    I think number 5 is the most important and the hardest to do for most entrepreneurs. Delegating.

    When you start a business, it’s hard to train yourself to trust someone with your baby. You have a way you want things done and it’s difficult to not just do them yourself.

    Great article. You touched on a lot of points I wish I read about when I first started my business.

    (Your website looks GREAT by the way!)

    • Ruth says:

      Thanks Jay! On all points. I would say that’s one of the hardest points for me too, delegation, no one does it the way you like it done, but its just about learning what your strengths and delegating your weaknesses! DOing the things you like the best. Doesn’t sound half bad hey?

  7. Barry says:

    I wish I had found your site a long time ago. I would have saved a lot of time and frustration. This is what so many people really need. Your views on a home business are invaluable and the reviews are incredible. I didn’t know anyone was writing reviews like this.
    I also like your theme. The drop down menus make things really easy to find and navigate through. I will figure out how to do this with my site as I grow. Thank you so much.

    • Ruth says:

      Thanks Barry those are some lovely things to say, and thank you for visiting my site. It makes me really happy to know to that I have been able to help you. Good luck in your business, if I can help in any other way, please let me know!

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