Do you have what it takes to venture out on your own? Read my latest blog post on what I consider the top five traits of entrepreneurs.
Hint: I believe anyone who dares to ask themselves this question already has the power. The answer is already “yes!”
According to Legalzoom.com, there are 31 million entrepreneurs in the US, and 55% of adults have started one business in their lifetime. So, what does it take to become an entrepreneur?
Many people have opinions on the traits of successful entrepreneurs.
What are the top 5 traits?
Here are my top five attributes I consider necessary for a successful entrepreneur:
- Risk-taking: Going out on your own is one big risk. You have to be prepared for big wins and big losses. Even with the best laid plans, you will hit snags. You will also have great unexpected opportunities, and there is never a clear cut path.
- Action-oriented: Waiting to decide is oftentimes not an option when you are in charge. Leaders need to take action, sometimes immediately, and many times without a complete picture.
- Belief in your product or service: You have to be 100% all-in. Any existing doubt will only grow over time and create barriers to your success.
- Honesty: This is one of my favorites and favorite concepts from Mark Cuban. You have got to be honest with your staff and most importantly, with yourself. If you ignore parts of your business because they are not your strengths, you will ultimately suffer. Instead, getting clear with yourself about your weaknesses will empower you to seek help or learn more about these areas.
- Commitment 24/7: Your business has to be a high priority, day or night. There’s no 9-5 in entrepreneurship. You have to be ready to sell, chat, or problem-solve at any time of the day.