Starting your own business isn’t easy. Those who have been successful share 4 major entrepreneur characteristics that get their business off the ground.
Entrepreneurship has long been a key characteristic of the American Dream. Starting a business enables you to be your own boss, create employment opportunities and fuel economic growth.
However, entrepreneurship is all but a rosy journey.
The statistics tell a grim story. Only about 20 percent of businesses live long enough to celebrate their first birthday.
Clearly, business owners need more than a ground-breaking products or services to build successful companies. They also need impeccable entrepreneur characteristics.
In this article, we’re sharing the top four traits you need to succeed as a business owner.
1. The Ability to Solve a Problem
You’re dead wrong if you think entrepreneurship is all about setting up a retail store and selling just about any consumer product.
Entrepreneurship is all about offering a product or service that solves a particular problem facing your community. To create such a product, you need to be a natural problem solver.
Think of any great companies and you’ll see a problem being solved. Take Amazon, for instance. Its founder, Jeff Bezos, wanted to make it easier for people to buy books with a few clicks. Today, the company’s is the world’s largest online retailer, and it has made shopping incredibly easier.
Look around you and identify the problems people are facing and try to provide a solution.
2. A Passion for Entrepreneurship
Even though colleges and universities have been offering entrepreneurship courses for as long as higher education has been around, education alone won’t make you a successful business owner.
You need to be passionate about entrepreneurship. This passion is not acquired in school. It’s a deeply personal trait that only you can nurture.
You have to be passionate about your product or business. More often than not, it’s passion that will keep you from burning out when you need to put in the long hours. Passion will keep you going even when nobody believes in you.
3. A Love for Taking Risks
In many ways, starting a business is a risky move.
Perhaps you’ve cashed out your 401k, taken out personal loans and even borrowed from friends in a bid to raise enough capital to start the business. If the venture fails, you stand to lose a lot.
Given these circumstances, quitting while it’s still not too late can be a tempting prospect. But if you quit, you don’t deserve to be an entrepreneur.
Entrepreneurship is about having the courage to defeat the fear of the unknown and dive into uncharted territory. Your love for taking risks must remain unshaken.
4. Eloquence and Professionalism
To wind up this list of entrepreneur characteristics, we’re discussing the power of eloquence and professionalism for business owners.
You see, it’s the dream of every entrepreneur to build billion-dollar empires. To achieve this, you need to lead a team of talented employees, and seek more funding. Inevitably, at some point you’ll need to pitch your business to investors. But how will you do this successfully if you don’t ooze eloquence and professionalism?
You need to invest in great business cards, polish your sense of style and work on your speaking and presentation skills.
Final Thoughts on Entrepreneur Characteristics
Small business is the lifeblood of the American economy.
If you’re taking the bold step to start your own outfit, you now know the traits you need to be an accomplished and successful business owner. Solve a problem, be passionate, take risks and embrace professionalism.
While we can’t help you with the first three traits, we can help you cut a professional image. With our business card service, you’re sure to get a card that stands out from the rest.