So what’s it take to be a successful entrepreneur… well, here’s what thirteen experts feel that it takes.
Read through the answers, see where you fit in, and then continue to accelerate your career as an entrepreneur.
It definitely takes vision and self-confidence to be a successful entrepreneur. You have to see how your business will generate profits, and how you’re going to get it there. There will always be reasons why you shouldn’t take a risk, but an entrepreneur sees the path to success and has the passion to make their vision real. A healthy dose of confidence in your own way of thinking comes in handy when trying to build a business.
When I was starting out there were many stakeholders in the industry who defined my business in their own terms. This is often the case for entrepreneurs creating something new. My business had an innovative business model in a fragmented industry. Even after generating decent exposure it took belief in my vision of how things should, and could, be better, and lot’s of energy to turn it into a profitable operation. Without the confidence that in the end, the consumer will agree with your vision, then you may end up giving up on a good idea.
Jamie Curran @j__amie
Be a Great Entrepreneur
Our CEO is a great entrepreneur. There are a few qualities that make an entrepreneur amazing, great, and successful. An entrepreneur has to have passion with what they’re doing. When they love what they’re doing, they’re sure to do well with it. One of the things DJ, our CEO, has said, is: when you allow those with potential to thrive in the area that most excites them, good things will come!
Another quality that makes for a great entrepreneur is dedication and leadership. You have to understand that starting out will be hard, and that you can’t give up, especially if you love what you do! You have to be able to lead your team and motivate them. When things are rough, you have to stay motivated to motivating your team.
Keep this in mind though, great things will happen. Make sure you put in your effort, dedication, and do well.
Cherry Kwan @kwanstaa
Find a Need and Fill a Need
As an individual, I’m a problem solver, neurotically so. It’s difficult for me think of a problem that i didn’t have a solution for. I think outside the box. In the world of websites, when I seek an outcome, I don’t care how I get there because I know I will go over, under, through, or around, whatever obstacles comes my way. I thrive on those little successes of pushing through the barriers to get the outcome necessary to move forward.
Katie DeCicco @CelebrationSaun
Characteristics of a Successful Entrepreneur
In my own opinion, an entrepreneur has a great chance to succeed if he has the following traits and characteristics:
He knows how to use leverage. He uses other people’s money, and other people’s time.
An entrepreneur should continually be growing and learning. He must be an innovator. He needs to listen to his clients/customer’s needs and suggestions.
He is willing to work 12 hours or more a day. He is enthusiastic, and of course a great leader.
To become a successful entrepreneur, one must not just be a hard-working man, but also knows how to work smarter.
What is Takes to be a Successful Entrepreneur
Clearly Define Your Goals:
As an entrepreneur, our creative sides often inspire us and even blind us with ambitions of success. However, without proper goals clearly defined for yourself, the inevitable failure is not far off. Clearly analyze your available resources and steps needed to achieve your goal. Do a roll call of needed assets and resources before you begin, and clearly define a timeline of execution for yourself.
Without these things in place, you can never hope to measure your success or adequately track your failures to learn from them. Know where you want to go, have a plan on how to get there, and know where you came from to start.
Learn From Failures:
Embrace your failures with open arms. Every good entrepreneur has a story of failure that typically is followed up with their rise to success. Carefully analyze your failures and learn from them. It’s easy to get thrown off by something not working out, but without thoroughly investigating your pain points it’s sure to happen again.
Embrace each failure as a learning experience. Don’t be afraid to make mistakes, be concerned not to learn anything from them.
Keep Inspired Through Balance:
Being in a constant state of creativity and productivity comes at the cost of chronic burnout. Ensure a proper life balance is in place in addition to your work schedule. Take time for breaks, outtings, or to connect with friends and family. It’s easy to get caught up grinding away day-to-day at the aspirations of success.
Some of the most creative ideas from our generation of entrepreneurs have come when they are in the thralls of something beyond their desk job. Creativity cannot be forced, it has to nurtured through healthy balance. Where will you be when your next inspiration strikes? It probably won’t be at your desk.
Michael Bergen @bluetitan247
Persistence is the key to success
Passion and enthusiasm are short lived. The people that become successful are persistent and don’t give up. It is persistent and consistent action that allows people to become successful at anything, including entrepreneurship.
I’ve heard of some of the most well respected business people failing in business and even going bankrupt in their early days. But they didn’t give up or stop trying. They kept taking action, learning, and improving their results. That’s what eventually allowed them to achieve success and even fame in some cases.
Brian Lang @sbizideasblog
What it Takes
It takes consistent effort on a daily hourly basis. It takes a commitment to get better every day. My core belief is that to be successful, I have to do what I can, as well as I can, today, and then do more or do it better tomorrow. Passion helps. Its great if you don’t have to find ways to motivate and inspire yourself, but even the most passionate of people will have days when life intrudes, or when you just don’t feel it. Also, never be afraid to ask. If you don’t ask people, people can’t say yes. Trust me, you won’t look weak, and the other person is probably waiting and hoping for people to come to them for help.
Max Ivey @maxwellivey
An Entrepreneur Thinks People Before Money and The Money Follows
Other than being focused, confident, compassionate and determined, I feel the following self-explanatory traits make someone a successful entrepreneur and a thought leader.
- Ability to unlearn and learn consistently
- Ability to be consistent and resistant for the right things
- Analytical to be able to foresee
- Amazing at communication
- Great at networking & Interpersonal skills
- Able to model the practice & personality
An entrepreneur never stops dreaming, and they know how to act and get those dreams to come true with the right people on their side. The belief is more in collaboration than competition. They would know how to win and make others feel winning too.
Sunita Biddu @chillingbreeze
What Makes a Good Entrepreneur
Entrepreneurs shouldn’t just be open to change, they should be actively driving it wherever possible. The ability to spot weaknesses in an organization, an industry, or within a process, and create new innovative solutions is part of it. Having the ability to drive that change through successfully, is what separates the good from the great.
Not Sure if I’m Successful, But…
Define “Success”… I’ve failed so many times (I mean both small and huge failures), so I’m not sure if my journey can be considered a success, but I guess failure is an integral part of being an entrepreneur. It’s how the failure is handled that distinguishes a successful entrepreneur.
Keep making mistakes until you succeed.
One of my best friends Jim Boykin has said, “You WILL make mistakes and fail many times. The key is to make enough money to pay for those mistakes…”
I am an entrepreneur because I love being independent. Some people don’t care. Some people feel safer when they have an employer who is accountable for their business mistakes. I love holding the wheel (FYI: I hate driving…lol).
Being independent with my financial and management decisions is what makes me tick. Handling challenge and failure is what makes me an entrepreneur.
Ann Smarty @annsmarty
I am an entrepreneur because I had to be. I was 57, redundant, and had no chance of ever getting another conventional job.
Although I was forced into it, I could never go back. I love it. I live to pass on my ideas to others and cannot imagine retiring.
Reputation and contacts have been most crucial to my success. I took time to build them, but they’re invaluable. I work long and hard and am shattered at the end of a day, but it’s always a better feeling than when I had a day-job.
Philip Turner @EP_pturner
It’s No Accident
Successful entrepreneurs don’t get to where they are by accident… they position themselves to be successful by maximizing their time, as well as making sure their expectations are in check.
Brandon Schaefer @90DayPro
An entrepreneur is not a businessman
There is a difference between being an entrepreneur and being a businessman. A businessman can move money and resources, make deals, make sales, and ensure that a project makes a profit. That business could be a venture into unchartered territories. It could be a franchise, a cookie-cutter business almost identical to hundreds of other franchisees. Or it could simply be what the person was doing before on salary, and chooses to do on a freelance basis instead.
All those are businessmen; only one of them is an entrepreneur.
An entrepreneur is somebody who has a vision and a passion to do things that are not obvious and to explore the bounds of what can be done. It might be to deliver a service or create a product that is totally brand new. Or it might be to deliver an existing product or service in a new way.
What made Henry Ford an entrepreneur was not that he sold a lot of cars – that made him a businessman. What made him an entrepreneur is that he took an existing idea (the assembly line) and he looked for a way to make it more efficient (made the line move from worker to worker automatically). He was not an entrepreneur because he managed to secure all the parts for each car, but because he had parts shipped in special crates that could be disassembled to form the wooden floor board of his vehicles. He was not an entrepreneur because he paid the best in town; he was an entrepreneur because he boldly doubled wages to reduce the costs of turnover and monopolize the most efficient work force.
One can be an entrepreneur without being a businessman. A politician, an academic or even a stay-at-home parent can be an entrepreneur. I knew a mother who was very much of an entrepreneur, finding ways to milk every public resource for the benefit of her children in ways they were never meant to be milked. An entrepreneur is someone who sees opportunities that others are not even looking for..then goes out and chases them down.
I have made my share of business mistakes, and the best I can say after a decade in business, is that I have not gone bankrupt…yet. Yet I have vision and I have passion, and I make bold moves and I do things differently, not afraid to rush headlong off the beaten path. I am a great entrepreneur and a lousy businessman.
David Leonhardt @amabaie
Wrapping Things Up
If you’ve made it this far, congratulations… you can truly start to understand that everyone’s definition of what it takes to be a successful entrepreneur is different in one sense, but so alike in another. Take this information, reach out to the people that shared their thoughts here, and let them know what you do, why you do it, and ask them for help if you need it.
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