A lot of people would love nothing more than to become an entrepreneur. They have visions of running a super successful business and claiming covers on Inc. and Entrepreneur magazine. Some of these dreamers want to achieve wealth and determine their own work schedule.
However, this lifestyle is the rare exception, not the rule. While the entrepreneurial life can be rewarding, it’s also extremely challenging. Most entrepreneurs work a lot more than their employees, so the entrepreneurial lifestyle is not one for the timid.
Starting your own business requires determination, many people underestimate the amount needed to weather the rough patches of entrepreneurship. Entrepreneur Magazine said that many would-be business owners get turned off when they see how much work is required and how difficult it can be to start a successful venture. To make your business even somewhat viable, you must be determined from the start to do everything you can to make this venture first class.
Confident entrepreneurs can get the job done, no matter how stressful and risky the situation in which they find themselves. Being self-confident is key; entrepreneurs don’t think that their idea could be good; they know it’s good.
These business owners know that when they are confident in themselves, their ideas and their decisions, they receive much bigger rewards. It’s this same thinking that causes successful entrepreneurs to see opportunities where most people would see challenge, difficulty and risk. True entrepreneurs will then take on this difficult challenge and see it through to the end – because they know they can.
Contrary to popular belief, entrepreneurs aren’t ‘in it for the money’. The majority of entrepreneurs work crazy hours for little to no money. Why? Because they are passionate about their business idea and are driven to make it work. According to research, 65% of business founders are driven by “heart”.
People assume that the only reason that entrepreneurs and business leaders put so much into their work is that they are the ones reaping all of the benefits when, in reality, it’s much simpler than that. Entrepreneurs invest their time and energy into their business because they believe in their idea, and they want to see it succeed – even if that means sleepless nights and endless worries for a while.
This trait is another required one for an entrepreneur. Forbes Magazine listed “resilience” as a common trait of the most successful entrepreneurs. That’s because there are so many parts of running a business that can go awry at any moment. A source of funding could fall through suddenly. You might have to fire your CFO. You might need to figure out how to make payroll in two days.
This can take a huge toll on your physical and mental health, which means that the budding entrepreneur in question will need to prepare for that. Are these struggles something they feel able to take on and manage without having it negatively affect the rest of their life and wellbeing? Whatever the bump in the road may be, there will be several them. Entrepreneurs not only ride the bumps, but they’re not afraid of them. They know that the tough times are just part of running a business.
Not everyone can successfully run a business. But there is no such thing as being “born an entrepreneur“. If you don’t have some of the traits on this list, you can work on yourself until you do. If becoming a successful entrepreneur is your dream, then working to develop the traits on this list can take you a long way towards the realisation of your entrepreneurial dreams.