If you dream of being your own boss or you plan on becoming a business leader, a career as an entrepreneur might be the perfect route for you to reach the top. It’s never been easier to launch a startup, which means anyone can unleash their entrepreneurial talents. In fact, more than 800,000 small businesses are launched every year in the U.S.
However, this doesn’t necessarily mean that being an entrepreneur is easy or that everyone’s well-suited to life as a business owner. To find out if you’ve got what it takes, check out these eight traits every successful entrepreneur needs:
If you can dream big and expect your ventures to be successful, it’s a good indicator that you’ll thrive in an entrepreneurial role. After all, no one goes into business expecting their startup to fail. However, successful entrepreneurs tend to be people who are naturally optimistic but also realistic. Expecting a commercial venture to thrive in spite of incoming data or market fluctuations can be a recipe for success. If you’re a positive thinker who keeps your feet on the ground, however, you’ll find it’s a valuable trait to have as an entrepreneur.
#2. High-Risk Tolerance
Risk-averse people are not usually drawn to life as an entrepreneur. No matter how much preparation and research you do, starting a business is inherently a risky prospect. It’s important to be aware, though, that a high-risk tolerance doesn’t equate to recklessness. Successful entrepreneurs do take risks, but they’re savvy about weighing up the pros and cons and deciding which risks to take.
#3. Calm Under Pressure
There’s no doubt that being an entrepreneur can be stressful. If you’re managing a business, the buck stops with you and it’s going to be your responsibility to ensure the venture is successful. Due to this, you’ll need to be calm under pressure and have good stress management techniques in place.
It’s not unusual for business owners to experience high levels of stress and executive burnout, so you’ll need to ensure that you take steps to protect your well-being. To learn more, take a look at this post and find out how successful entrepreneurs cope with stress.
Entrepreneurs tend to be creative in terms of coming up with innovative ideas and new concepts. Maybe you’re adept at developing products that no one’s ever seen before or perhaps you can shape a new brand from the ground up. If you love starting from scratch and building something from nothing, you’ll relish the opportunity to develop your venture and take control of your future.
#5. Problem Solver
Many of the most lucrative businesses solve a problem for their customers, so entrepreneurs are usually great problem solvers themselves. As well as solving a problem for consumers or commercial entities via your products and services, you’ll also need to resolve issues that arise in the day-to-day running of your organization. From securing funding to launch your startup to managing a workforce, being able to come up with inventive or pioneering solutions to problems can maximize your success as an entrepreneur and business owner.
No one likes to think of themselves as lazy or inattentive but think carefully about whether you lean towards either of these characteristics before you decide to become an entrepreneur. When you’re working alone or running a business, you’ll need to be highly self-motivated in order to achieve your goals. Entrepreneurs are known for their determination and work ethic, so only consider starting a venture if you’ve got the motivation to see it through.
Innovative thinkers are curious about the world around them, which leads them to develop new ideas and solve problems. Entrepreneurs are well-known for saying, ‘why?’ to almost everything, which can be frustrating for those around them! However, it’s this innate curiosity that puts entrepreneurs on a path to success. Not content to settle for vague explanations or accept the status quo, entrepreneurs will use their curiosity to find the answers they need or to create their own.
#8. Attention to Detail
In many cases, it’s the finer details of a project that can determine its ultimate success or failure. From researching a new market to negotiating a contract with a supplier, attention to detail is a valuable trait when you’re a business owner. As you might expect, natural-born entrepreneurs are typically attentive and have an eye for detail. When applied in a business context, these traits ensure that nothing is ever overlooked and that every aspect of a project is considered in advance.
Are You Ready to Launch a Startup?
If you’ve got the traits to make it as an entrepreneur or you’re willing to work on your skillset to become a successful business owner, you might be eager to launch your own startup. Whatever products or services you choose to offer, you can be confident that your natural traits and characteristics will help you to achieve your professional goals, providing you put them to good use.