5 Qualities of Successful Entrepreneurs

The sad news is that there is really no secret formula to success. The good news, however, is that an entrepreneur just needs the right information, at the right time and the right skills to succeed in their endeavors.

This sounds easy but there is more to it than meets the eye. Like any other venture, the entrepreneurship journey is filled with many obstacles and requires a blend of characteristics to be able to manoeuver successfully.

While the allure of personal freedom, getting paid to do what you love, flexibility and fulfillment all sound like a wonderful dream, successful entrepreneurs understand that these do not necessarily guarantee success in business. They recognise that their personality, strengths and weaknesses play a key role in the attainment of their goals. Below are five desirable qualities that an entrepreneur needs to possess in order to thrive in this competitive world.

Creativity

Creativity is most of the time misunderstood to be a requirement for those in the design and arts domain, but this skill is of utmost importance in entrepreneurship. Creativity allows the entrepreneur to come up with witty ideas and discern unique solutions to problems. Creativity is that little bit of sauce that an entrepreneur adds to his product that sets him apart and above his competitors.

People skills

Entrepreneurs are naturally charismatic and down to earth. They are people magnets and have mastered the art of treating all people with respect regardless of status. They have strong communication and presentation skills which enables them to sell their product effectively without sounding too pushy. Entrepreneurs actively seek out networking opportunities and are always armed with their elevator pitch ready to launch. Most successful entrepreneurs never shy away from talking about their business, but they do so in the appropriate setting while at the same time observing business etiquette.

Strong work ethic

Successful entrepreneurs swear by the mantra “you rest when the work’s done.” This means kissing goodbye to the eight to five work mentality and embracing early mornings and late nights. They know the value of client appreciation and reference so they are always pushing themselves to exceed their client’s expectation. They understand that they are in a constant competition against themselves and against mediocrity. They have clearly identified their lane and are satisfied and always on the rush to be the best in it.

Patience

Entrepreneurs understand and have embraced the fact that success does not happen overnight. During their journey, they have faced and overcome numerous challenges. They have failed more times than they can remember, dealt with rejection from all corners and always keep knocking doors, hopeful that one day one of them will open. Their experience is not all gloom as it equips them with knowledge and skills to become better and stronger. It inculcates a deep sense of patience in them. They learn to be patient not only with their clients, suppliers and employees, but also with themselves.

Risk taking

Entrepreneurs are bold individuals. They are always on the lookout for new business opportunities and when they spot it, they are never afraid to give it a shot. This, however, does not mean that they take up every opportunity that comes knocking. Entrepreneurs surround themselves with mentors and business advisors whom they seek advice from. This enables them to take calculated risks and make informed decisions.