Entrepreneurs play a key role in sustaining economic growth all along ensuring social progress through the innovations and new jobs creations. They all think of the perfect inning of entrepreneurship but sometimes they fail to manage the things successfully. What are the some common personality traits of successful entrepreneurs that apart them from others? Well, many studies revealed that personality of an entrepreneur and social factors are very closely related to entrepreneurs’ behavior. Many traits including leadership, creativity, optimism and acceptance for challenges differentiate them from each other. Take a look of five common personality traits that might every successful entrepreneur have.
1.Driven by “Heart” or Truly Passionate
How passionate you are as an entrepreneur? Well, passion is the key trait of successful entrepreneurs and it separates them from others. They do not think of money but even though ready to work for free for many years because they are passionate for their ideas and driven by heart to this. They work day and night on their ideas for years and re-invest all generated profit into the business. They understand very well that they are not working for monthly remuneration but are structuring an asset that will add value to social scenario or humanistic perspective. While many of them also succeed to made more cash than what they were dreaming of. Steve Jobs and Bill Gates are two names who are icon for thousands of young startups who spend unaccountable working hours for little amount of money. The question is why they do like this? The answer is very simple, because they all are driven by their heart to solve a social problem and to make thousands people life easier. No matter what difficulties they face, it is all their passion and enthusiasm that keep them motivated to work on their business idea while others gave up.
The research reveals –
[cp_quote style=”quote_normal_dark”]More than 90 percent of the business owners surveyed have a clear sense of purpose in their lives, with 75 percent of those considering meaningful work an important aspect of that purpose.left-right-normal,light-dark[/cp_quote]
2.Never Give Up or Overcome Failure
Failure is a necessary part of entrepreneurship and successful entrepreneurs redeem this for good. Being an entrepreneur, they have to face failure many times while only a few entrepreneurs have an ability to handle failure optimistically. They accept failure positively and start new inning every time without losing their focus and enthusiasm toward their idea. When time gets rough they stay down and become the successful entrepreneurs in the future. They ask questions from themselves like what were my mistakes. What I have learnt from my past mistakes? How to avoid these mistakes to be succeeded next time, and, many others. They evaluate why the business failed but not scared to start new business because of failure fear. The Indian entrepreneurs N R Narayana Murthy also failed in his first business when he started Softronics in 1976 but after five years he started Infosys Technologies with other a team of co-founders and become successful. Similarly, many other successful entrepreneurs including Ratan Tata and Sunil Bharti Mittal also faced downfalls in businesses many times but never gave up to lead an easy life.
3.Strong Sense of Self
Why successful entrepreneurs have strong sense of self? This trait helps them understanding what they have and what they need to maximize the opportunities to be successful in businesses. They can’t feel threatened by other talented people who surround them but they know very well how and when they can help each other. With a strong sense of self they feel confident and feel happy to meet with others who are different from them and carry different mindset and skills.
4.Action Oriented and Decisive
Number four in the list of five personality traits of successful entrepreneurs is they must be action oriented and decisive. Entrepreneurs need to make a number of quick decisions on daily basis in order to ensure rapid-growth in the businesses. Successful entrepreneurs also disciplined themselves to work on the decisions they have took to ensure rapid growth. They analyze the results of their actions and self-correct themselves if they have taken any wrong decision or step. They try varied things and eventually find out the right way to overpower the challenges.
5.Self-Disciplined in the Direction of Attainment of Real Business Goal
The fifth trait that every successful entrepreneur possesses is self-discipline. This trait is important in every part of life but more important in entrepreneurship. It made entrepreneurs self- driven and highly focused on their goals. Self-discipline is directly connected to self-direction, self-control and self- responsibility and all these characteristics leads toward the achievement of fast success. This trait made entrepreneurs aware of the time importance and they know how to utilize their time efficiently for creating opportunities and using their full potential.
Other common personality traits successful entrepreneurs share are;
- Socially responsible
- Hard working
- Ready to take risk
- Ready to learn new things every time
- High understanding level
- Great desire to solve social problem and understand the needs of people around them and many others.
Entrepreneurship puts a number of challenges on the way of entrepreneurs. In order to overpower these challenges they must have the all above mentioned personality traits. The only difference between successful entrepreneurs and failures is that the success entrepreneurs knows their personality traits very well and do things in a way that lessen the chances of failure!
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