What are successful entrepreneurs all doing to be successful?
I’ve had the opportunity to work with a wide variety of successful entrepreneurs and business owners over the years. From the locally owned small business that is happy and thriving at a local level without the need to be a nationwide chain, to the major corporations that we all know & recognize! These successful entrepreneurs and business owners design their own world of success that goes beyond finances, and creates a life where they love what they do and make great money without ransoming their life, soul, or health.
Every entrepreneur deserves the chance to learn about and create those traits within themselves: having the tools to become successful! So I’m giving you a list of some of the top traits I’ve noticed across the board in successful entrepreneurs.
Entrepreneurs who are happy with their thriving businesses spring back.
They understand that they're going to hit walls in business and that they’re going to have to bounce back. Mistakes happen in business, people and whole companies make moves that result in things like bankruptcy. Successful entrepreneurs understand that you can’t just stay on the ground when (not if) you fall on your butt in business. They get back up and push through the trials, rather than sitting around just feeling upset about situations like a major deal falling through when they were counting on that money.
Resiliency is all about not getting bogged down in the distress of business troubles, and bouncing back to find a solution and press forward.
#2 Personal Responsibility
When these guys make a mistake, they own it.
Like I said before, mistakes happen in business. But when an issue arises, they look internally for a solution rather than immediately pinning the blame on someone else. They understand that they can control their reaction to a situation, even if they can’t control the situation. An employee screwed a project up? They first look to see if their leadership skills were lax in that instance before looking at how the employee performed. This doesn’t mean it’s always a leader issue, but they check themselves first.
Their first response is to look at what they can fix in themselves. Because they know that they are responsible for their reaction to the issue, and not necessarily the issue itself.
#3 Self Awareness
Successful entrepreneurs have this in massive amounts!
These guys own their strengths and weaknesses. In other words, they know what areas of the business they are fantastic in and where they’re not. Additionally, they're willing to admit when they need to improve or ask for support. And on top of all that, they are aware of their communication and leadership styles.
All this knowledge and self awareness is used to develop a strong business team that supports both the entrepreneur and the vision of the business. Why? Because they understand that no man is an island: building a successful business requires having a team.
This might sound silly or ironic, but successful entrepreneurs need humor.
The thing about being an entrepreneur, as I already said in trait #1, is that stuff happens. Entrepreneurs must be able to laugh at it and move on. The successful entrepreneurs that I’ve seen are all able to look at challenges from an optimistic perspective that allows them to laugh at the issue. Without the ability to look at every situation and find the good in it, entrepreneurs get bogged down and easily discouraged.
These guys don’t! They look for the humor and good in everything that goes on around them.
#5 Marketing and Sales Skills
Hyper successful business owners understand that everyone needs these to a varying degree.
They know they need these two things because...
1: Your marketing is a powerful avenue of communication with your clients. It’s also an incredible way to generate warm leads and boost your sales revenue. (Check out my blog on Marketing Here!)
2: Sales is the bread and butter of a business. Successful entrepreneurs must be able to step up to the negotiation table and make big deals happen when other members of the team fall through. Sometimes it is even just small deals. But the point is to be able to make deals and sales that take care of the company and your client. (Check out my blog on Sales Here!)
Marketing and Sales go hand in hand, and successful entrepreneurs understand and master both.
#6 Time Management Skills
Energy is an entrepreneur’s most precious resource.
These entrepreneurs understand that time and energy must be managed properly because it is their greatest asset. Because of this, they dedicate time and energy to managing their time and energy. They take time to understand where they are spending their energy so they can be sure to spend it wisely.
In other words, they work to get the most return for the most efficient investment of their time and energy.
#7 Financial Management
Everyone knows that this is important in a business!
And these entrepreneurs know that better than most, because they take the time to carefully investigate and understand their financial matters. They know:
Where and when to invest money.
Where and when to not invest money.
The pros and cons of each investment opportunity
How to price themselves properly
How to manage money that comes in and goes out.
In essence, they learn about finances so they can ensure their ability to manage the money. In turn, they protect and plan for the future growth of the company.
Entrepreneurs are an incredible breed of people! They are powerful and impactful!
I’ve found that these common traits are a huge part of what makes the hyper successful entrepreneurs successful. Now that you know the traits, go be one!
Looking for more free information on creating success in your business and life during a time when everything is constantly changing? Make sure you check out the upcoming Small Business Supercharge: Evolution event happening this week! We’re incredibly psyched to have award-winning speakers and entrepreneurs coming in to help us give away tickets to this event designed to give you the tools you need to evolve your business to the next level, and we can’t wait to see you there!
About the Author:
Stephanie Scheller is a TED speaker, a two-time best-selling author and the founder of Grow Disrupt: a San Antonio based company dedicated to disrupting the way the world does business through training. In just under a decade, Stephanie has been behind the scenes with nearly 2500 small businesses. She has worked in groups and one-on-one to create total business transformation & help business owners live the life they got into business to create!