Successful Entrepreneurs: Do You Have What It Takes?

Is there a recipe for success in business? Some kind of magical combination that would take any entrepreneur straight to the dream he is pursuing? This is not the first time someone is asking this and, definitely, not the last one, either. Is it possible for an entrepreneur starting a brand new business to reach their target in the shortest amount of time, amortize the investments and gain some profit too?

The business world is cold and cruel most of the times. Not everyone can live up to it, but those who have managed to survive its ongoing battle, to grow and thrive, in spite of this hostile environment, could be potentially named “living legends”.

Harold S. Geneen, the former president of ITT Corporation, used to say that “in the business world, everyone is paid in two coins: cash and experience. Take the experience first and the cash will come later.” What this means is that being successful takes time and patience, but it also requires some other traits.

The 7 Step Road To Success

Nowadays, everyone is talking about entrepreneurship. With fierce role-models such as Bill Gates, Mark Zuckerberg or Steve Jobs – and these are only three heavy names – one might feel a bit overwhelmed and even intimidated.

What else could someone bring fresh and new to the table, something that could be put up to what they have managed to build so far, right? Well, this is exactly the point where a regular entrepreneur will be separated by an enthusiastic, competitive and fearless one.

How can you know if you are a part of the second category? Here are the 7 signs you should be looking for:

#1 Tenacity

Every new entrepreneur should be aware of the fact that starting a business can turn out to be similar to running marathon after marathon, without actually winning. This person has to be able to live in a certain amount of uncertainty and to keep moving forwards, even though the results might take years to be noticed. Call it perseverance, determination or commitment. It is the primary force that gets a business going!

#2 Passion

Every now and then, we bump into people who believe that the main motivation of a business leader is money. However, someone who has truly reached their success will tell that what makes their world spin around is the passion they hold within. Their need to make the world a better place. Their desire to offer a solution to a problem. Mostly, their wish to make other people’s lives easier.

#3 Fearless personality

In addition to the first trait mentioned above, being fearless is closely intertwined with the ability of having a constant dash of uncertainty in their lives. There might come a time when the business could run out of money, when failure might show up on the radar, but a real cold-blooded entrepreneur will know how to exceed these temporary limitations and push through it all.

#4 Self-confidence

What are all those traits mentioned before without a generous dose of self-confidence? If the entrepreneur is not very sure about the product offered to the market, if he does not believe in it, then how will the others? The man with the idea has to be 110% sure about his work and face those who do not approve. In the end, the majority always wins.

#5 The Vision

The thing that defines the entrepreneurship best is the ability to see an opportunity everyone seems to be missing out. The entrepreneur has to come out of the ordinary, by presenting their vision in the most clear and efficient way to everyone involved in the process from investors to customers.

#6 Flexibility

For thousands of years the key to survival on Earth has been the ability to adapt possessed by its inhabitants. The business world makes no difference. Flexibility is crucial. The market’s needs are changing continuously and the entrepreneurs should be able to remember that the final product will go through significant changes over the course of its creation. It will most likely look 99% different from the original sketch.

#7 Standing Out

Conventions, rules or any lines an entrepreneur might feel obstructing their manner of thinking, vision or their own enthusiasm will be crossed at all times. You will most likely recognize a pattern: a dose of risk-taking personality combined with an aggressive intelligence which could manifest itself during the adolescence through a rebellious behavior.

There is not a certain recipe for a successful entrepreneurship. However, these 7 personality traits will bring the young and enthusiast entrepreneurs closer to their purpose. How will they manage the ropes and handle what they are about to encounter? To be continued.

 

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