Starting your own business is one of the most challenging things you can do. Yet, if the idea of going off on your own and building a company from the ground up excites you, then you may have the go-getter mentality running through your veins. In fact, the passion for being your own boss is one of the many traits of an entrepreneur.
Lately, I have found myself binge watching old episodes of Shark Tank. If you’re unfamiliar with the premise, it’s a show where young and established entrepreneurs pitch their businesses to investors in hopes of building and growing their companies.
As someone who has always wanted to have their own business, the show inspires me to nurture my entrepreneurial spirit. Yet, with so many different types of people pitching their dreams, I started to think – what exactly defines an entrepreneur?
In some cases, it’s the determination to make a better life for yourself. Or it’s identifying a problem and believing that you have the solution. No matter your background, upbringing or current financial status – entrepreneurs come from all walks of life. And, what defines them isn’t their situation, but rather their mindset and internal drive to impact the world.
So, if you’re dreaming of the day that you get to be your own boss, let’s talk about 5 defining traits of an entrepreneur.
5 Defining Traits of an Entrepreneur
A Born Problem Solver
The first trait of an entrepreneur is that they are born problem solvers.
Many businesses and companies are built because their founder identified a problem that needed to be fixed. Whether there is a hole in the market or a larger societal issue that could use a solution – entrepreneurs see this as an opportunity to develop new ideas that can positively impact the world.
Additionally, entrepreneurs are able to effectively find and solve problems within their own business. They can craft creative solutions to drawbacks, reconfigure their strategies and pivot into a new direction without hesitation. They see problems as a chance to do better, rather than something that is holding them back.
As an entrepreneur, flexibility is key. You need to be able to handle tension and setbacks. And, understand how to find a quick, effective solution. In fact, being able to catch and identify problems before they happen – is a surefire way to have success as an entrepreneur.
Unyielding Passion For Their Business or Cause
The second trait of an entrepreneur is that they have unyielding passion for their business or cause.
Passion is what drives us to act. If we are dedicated and driven toward a certain cause, goal or dream – we put everything we have into making it a reality.
Entrepreneurs use their personal beliefs to build and grow a business. Whether they want to better the environment, help make lives easier or inspire people to adopt healthier lifestyles – this passion for a specific cause is what drives their company.
As an entrepreneur, you need to have unyielding passion for your business. You have to be able to show that you are completely dedicated and truly believe in what you are producing, selling and sharing with the world.
A successful founder eats, breathes and sleeps their business. Not only because they are driven, but because they truly believe in what they have created. This level of commitment to your mission will take you to the next level as an entrepreneur.
Driven & Hardworking
The third trait of an entrepreneur is that they are driven and hardworking.
Being your own boss is no walk in the park. In fact, because you have no one to answer to, but yourself – you need discipline and drive to stay on track.
As an entrepreneur, you have to be willing to work hard day and night. When you’re building your own business, everything else comes second. You’ll be swapping out social gatherings for meetings and trading in those extra hours of sleep for developing your new product.
Yet, although this schedule seems rigorous – the payoff is worth it. Entrepreneurs see the bigger picture and realize that small sacrifices lead to an immense gain.
If working 24/7 on building your dream sounds exciting to you, then you have what it takes to be a true entrepreneur.
The fourth trait of an entrepreneur is that they are a self starter.
Entrepreneurs don’t wait for direction. Instead, they jump at every opportunity they see and are eager to become involved. If they have an idea, they go for it. And, if they believe they can add value or a better perspective, they never hesitate to seize the opportunity.
In fact, this type of behavior is not only indicative of a successful entrepreneur, but of a good boss. This push for innovation and grasping potential helps to instill a fire and drive within their employees.
Plus, being a self starter means that you aren’t afraid to take risks and go off on your own. By pulling away from standard conventions of employment, ditching the routine and embracing the unknown – you are creating professional opportunities on your own accord.
If you’re able to effectively find and start projects without guidance and never stop searching for the next big, successful break – then, you are one step closer to becoming an entrepreneur.
Creative & Open Minded
The fifth trait of an entrepreneur is that they are creative and open minded.
No matter what type of business you are building, developing your ideas takes creativity. You need to be able to view your company from every angle and identify ways to make your product or service better. Plus, you need to think about marketing and how you will gain attention and interest from potential consumers.
As an entrepreneur, you need to infuse creativity into your daily routine and be open minded to the suggestions and ideas of others. Although you may have built this company on your own, you need the input and help of a team to take your business to new heights.
Flex your creativity like a muscle and aim to strengthen it each day. Think of new ways to showcase your brand, think outside the traditional box and don’t be afraid to test out new ideas. And, utilize the capacity of your team to its fullest extent. Draw up ideas together and test out new concepts.
If you want to be a successful entrepreneur, you need to see the world with new eyes. You’ve already stepped outside the lines to start something of your own. Now, all you need to do is apply this rebellious spirit to your company. The path to success comes, when you’re willing to take a few worthwhile risks.
Do you believe that you have these traits of an entrepreneur? Are you thinking of starting your own company? Connect and share with us on social at @h_collective