A recent article from CNN correctly points out that there is often a disconnect between the general perception of what it is like to be an entrepreneur and the reality of it. People often imagine the benefits of having no boss, making your own schedule, and a myriad of other things that are half true, yet undermine the reality of the hard work, extra hours, and extra effort that need to be put in to succeed in any meaningful sense. The article outlines six traits of successful entrepreneurs, which are also summarized below.
Persistence – An entrepreneur must have the unique ability to continue pushing, and pushing hard, often times in the face of constant doubt and repeated failure. The need for persistence should immediately undermine any benefit to making your own hours – often you “make” them because you somehow need to find several extra every day.
Adaptivity – The ability to wear several hats, or sometimes even dozens, is imperative. Additionally, changes in your product or in the market can occur, new ideas can develop from old ones, and various crises lead to necessary solutions. They must be ready for their visions to change and for new ideas to be incorporated.
Risk Taking – Entrepreneurs need to be willing to go all in to their idea. This means giving up other opportunities that might distract. They must even give in to the possibility of living uncomfortably for a period of time, because in the start up world – and this will undermine another one of those myths – there is no easy money.
Imaginative – Without fail, unforeseen problems will arise. Creative ways to deal with and move past them in an efficient and instructive way is of paramount importance.
Confidence – This will be necessary for successfully encountering the previously mentioned repeated failure. Entrepreneurs will also find confidence to be quite helpful when they need to convince others to be as certain as they are that their product is important and needed in the market place.
Trustworthy – This is important for creating a comfortable environment with those around you. It’s also important because when you’re trying to raise funds, no one is going to give money to someone they don’t trust.