Four Key Traits Every Entrepreneur Needs

Many of the world’s most successful entrepreneurs admit to having succeeded without ever truly expecting to. Facebook being an obvious example, not to mention the likes of Uber and even sports superbrand Nike back in the day.  When these companies were dreamed up by their founders, nobody could have predicted they would go on to be billion-dollar success stories.

Least of all, their creators.

But then comes the question -  why is it that some plucky amateurs who come up with their own ‘crazy’ ideas for business ventures meet with such success?  Or more importantly, why is it that some are in no doubt as to the potential of their idea, only to go on to fall flat on their faces?

Well, in truth it comes down to a combination of things, rather than just one single contributory factor. It’s one thing to have a great idea, but it’s something else entirely to have the makings of a successful entrepreneur. 

So in an age where becoming an entrepreneur is technically as simple as setting up a website, what are the four most important traits that help build these kinds of success stories?

1.  Resilience

First and foremost, you cannot succeed as an entrepreneur unless you are relentlessly resilient. What this basically means is that no matter how far you fall or how hard you land, you are able to stand out, dust yourself off and move on with confidence. Truth is, failure and setbacks are far more common in the world of startups than even the slightest success. Nevertheless, those who accept failures simply as challenges to overcome stand the best shot at bringing their vision to life.

2.  Risk taking

Linked directly with the above, you have to be willing to take some pretty serious risks in order to become a success. Think about it – how many people over the years called Elon Musk the kind of madman the world has so far seen none like? The answer…well, quite a lot. The thing is, each and every time you bring a new idea or concept of some kind to the world, you’re bound to be called nuts by some. Anything that’s new is unfamiliar and anything that’s unfamiliar is considered a risk. Nevertheless, it’s the new and unfamiliar that goes on to become the next billion-dollar must-have/do.

3. Strong work ethic

If you want to become an all-powerful CEO, you need to be willing to put in the grunt-work at ground-level. For however long it takes, successful entrepreneurs are ready to roll up their sleeves and get stuck into the kinds of jobs pretty much nobody wants to do. The kind of hard graft that means late nights, early mornings and constant slogging away at something which at the time doesn’t appear to be giving you anything in return. If you’re out for an easy ride, you’re out of luck…end of story. 

4. Passion and vision 

Last but not least, entrepreneurs only ever tend to be successful when they are genuinely passionate about whatever it is they are trying to do. You cannot and will not succeed in any kind of venture whatsoever, if your sole reason for getting into it is the ultimate pay-off. Your ongoing vision needs to concern something that is of interest to you and of relevance to your experience and future goals. Even if you think you have the kind of idea that can’t fail, it’s pretty much guaranteed to fail if it falls into a subject area you have no real interest in.