15 Fundamental Traits to Being a Successful Entrepreneur

15 Fundamental Traits to Being a Successful Entrepreneur

The American Dream is the goal of being able to provide a better life for our children and the philosophy that anyone can achieve success if they work hard enough. However, the extremely high rate of business failures shows us that hard work and desire are not enough. As an entrepreneur you must be able to innovate and lead your company to success. Based on my life experiences of running multiple companies (I’m currently running ten business ventures simultaneously) and consulting hundreds more worldwide, I feel the following fifteen traits are essential to becoming a successful entrepreneur.

01. Confidence

Confidence is the corner stone of being an entrepreneur. You must absolutely belief in yourself, your abilities, your company, your products and services. There should be no doubts whatsoever about what you are doing, the benefits you provide, or the price you are charging. Side note: Many entrepreneurs undervalue themselves and charge too little. This is a deadly mistake.

 

02. Courage

Being courageous means doing something despite being fearful. Fear paralyzes people and companies. You must be proactive in overcoming fears to take action. Whether it is picking up the phone to call a prospect, negotiating with a vendor, speaking in public or having to let go of an employee who is not performing. The best way to get past your fears is to take them head on and without thinking.

“A coward dies a thousand deaths; the valiant never taste of death but once.”

03. Action-Oriented

You have to be willing to take massive and consistent action on a daily basis to achieve your goals. Having a strong work ethic is an absolute must and your success is directionally proportional to the level of action you take.

 

 

 

04. Perseverance

The majority of businesses fail because the entrepreneur gives up. There will always be very difficult challenges that come up. You have to realize that even if the worst happens it is not the end of the world and you must have the attitude of never giving up. This was a trait I developed through my martial arts training as a child. It is one of the most powerful attributes a person can develop.

The only way I will absolutely give up on a task I truly want is if I am dead.

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