5 Characteristics of Successful Entrepreneurs

By Stefanie Neyland, Small Business Content Developer at BizLaunch.com

Being an entrepreneur takes more than just a big idea; a true entrepreneur is rare. It’s someone who’s blessed with a unique blend of skills, traits and characteristics which enable them to overcome the odds, and go after their dreams and aspirations full throttle. But how do we know if we possess this winning cocktail of attributes that are needed to succeed in business?

While we’d all love a comprehensive handbook to guide us through the often confusing world of entrepreneurship, unfortunately no such book exists. There’s no way to foresee whether we possess the ‘E Factor’—you have to dive head first into a venture, and either sink or swim. However in our experience, there are a handful of traits that entrepreneurs have in abundance:

1. They’re hands-on

Entrepreneurs know that if something really needs to get done, they should do it themselves. They’re ‘doers’ and tend to have very exacting standards. They view their business as an extension of themselves, and like to be integral in its day-to-day operations—even when they don’t have to be.

2. They’re willing to take risks

A true entrepreneur doesn't ask questions about whether or not they’ll succeed—they truly believe they will. They exude this confidence in all aspects of life, and they’re never afraid to take risks due to the notion that they'll ultimately triumph.

 3. They’re goal-oriented

Entrepreneurs set goals and put their all into achieving them; they’re determined to make their business succeed and will remove any encumbrances that stand in their way. They also tend to be strategic in their game plan and have a clear idea in mind of exactly what they want to achieve and how they plan to achieve it.

 4. They thrive on uncertainty

Not only do they thrive on it—they also remain calm throughout it. Sometimes things go wrong in business, but when you’re at the helm of a company and making all the decisions, it’s essential to keep your cool in any given situation. True entrepreneurs know this and grow in the wake of any challenges.

 5. They’re committed to their business

Entrepreneurs are not easily defeated; they view failure as an opportunity for future success, and if they don’t succeed the first time, they’ll stay committed to their business and will continue to try again until it does succeed. A true entrepreneur doesn't take ‘no’ for an answer.

By Andrew Patricio

March 05, 2014