Thursday , 20 September 2018

7 Personality Traits That Make an Entrepreneur Successful

Entrepreneurship is essential for any country’s economic growth. It creates customers and jobs that in turn lead to economic growth. Though, it is just an idea. But it is the spirit of the entrepreneur who converts the idea into a commercially viable enterprise that offers real value to the customers.

The optimism and positive energy of the entrepreneur attracts early customers, co-founders and employees. And above all, a successful entrepreneur is the one who stays with the ability of absorbing setbacks and obstacles. He not only plans well for making an enterprise profitable but also plans for contingencies and carry the ‘Can do’ spirit within his team.

7 Personality Traits That Make an Entrepreneur Successful

Successful entrepreneurs possess some personality traits which separates them from non- entrepreneurs. Here are 7 personality traits which set a successful entrepreneur from an average worker:

1. Works towards vision
An entrepreneur turns into a successful entrepreneur when he starts chasing out on the bigger picture and not on money. One vision leads to the implementation of hundreds new ideas and thus, keeps an entrepreneur away from giving up on his dreams. It is considered as a vital energy which drives the entrepreneur towards success.

Vision in entrepreneurship holds a very important space. It helps in uniting the employees and the entrepreneur to make them – dare to explore more, dare to take challenges and dare to succeed. Many successful entrepreneurs are very well- known for preserving their vision driven by passion. Thus, it has the ability to empower the entrepreneur and his team to implement ideas and turn it into success.

For example, have you ever given a thought to how some small scale start-ups turn into a larger enterprise within a short span of time? The only key is the entrepreneur’s vision that keeps him committed to his start-up path despite the several ups and mostly downs.

2. Innovates with creativity
Entrepreneurs are those who keep on innovating new ideas everyday with creativity. Innovation and creativity go hand in hand. A creative mind leads to innovation which results in high entrepreneurial success, business growth and sustainability.

In simpler terms, an entrepreneur thinks creatively and comes up with unique ideas, and innovation is the function of those ideas with improved, effective and efficient techniques. With the help of the two, a successful entrepreneur either creates wealth multiplying resources or bestows existing resources with better potential to create wealth.

Creative ideas executed in an innovative way acts as a fuel to an entrepreneur’s journey. If he stops exploring new and unique ideas to improve their existing offerings in this highly dynamic market then he might just end up losing out on its customers to his peers.

3. Decisiveness
An entrepreneur comes across various situations in which he has to decide on 1 out of 10 different choices. Those who are able to make difficult decisions and stick to them till it works out well are known as the business leaders with strong decisiveness. An entrepreneur has to measure a number of alternatives and determine the most viable out of them.

A successful entrepreneur’s decisive skills are tested when they have to make a sound judgement under pressure. The ability to prioritize tasks and take right decisions quickly, make them stand out from the crowd.

4. Resilience
Resilience in entrepreneurship is simply the capacity to recover as quickly as possible from the toughness of time. For an entrepreneur, it is the quality relating to emotional intelligence which makes them tough enough to tolerate risks associated with their decisions.

Resilience is a trait of strong entrepreneurs as it allows them to defeat the failure. These are the entrepreneurs who achieve success in their life because they consider the instances of failure as a powerful tool for achieving growth and success in their business.

Resilience is just like climbing a mountain, sometimes one wrong step makes you slip and fall but the only person who springs back up even after falling reaches the peak.

5. Bringing your strengths in others
Before becoming a successful entrepreneur, one has to become a good leader. The one, who thinks about the growth of his employees, reaches a level up in achieving success easily. Great leaders bring out the inherent strength of their employees and help them in skill development.

Many psychologists also suggest that – the entrepreneurs who believe in giving to their employees foster better growth opportunities in business. These entrepreneurs put their egos aside and give employees a sense of ownership and freedom to work towards the common goals.

6. Forward moving approach
Successful entrepreneurs are those who always think of moving ahead. Even while starting from the scratch, there are several entrepreneurs who have built their own business empire only by following the approach of moving forward. For them, speed had never been a matter of concern until they are moving forward.

Having a constant flow of ideas and establishing a clear vision are two important tools to moving forward in business. If any entrepreneur has a vision which is constantly evolving, it will lead him nowhere instead of moving forward.

7. Versatility
Versatility is one of the keys to entrepreneurial success. Any entrepreneur who is able to adapt to changes in the workplace, chances are he is going to achieve success sooner. A successful entrepreneur manages different functions at workplace by maintaining a suitable balance between each of them.

A versatile entrepreneur also becomes an inspiration to his employees so that they do not stick to their job description at the time of less people at work.

An entrepreneur should be like water, which becomes adaptable to shape of its container. It also serves purposes in form of ice and vapours, which shows its versatility.

Though, there are some people who seem to have the Midas touch and can easily turn everything to gold, still, most of us have to give our endeavors lots of time and effort before seeing things come to fruition. The main reason behind this is most of us are not born leaders, but become leaders by who we are and the actions we take. Whether you are an established entrepreneur or just starting out on your journey, these are the few traits which should be there to be an exceptional entrepreneur.

Author Bio:

Sushant Reddy, Founder, AskArvi

Sushant Reddy, Founder, AskArvi

Sushant is a digital enthusiast who is always on the hunt for finding smart solutions to provide an incredible experience to the customers. Moreover, he is a self- motivated entrepreneur who has a positive attitude towards work and personal life. He is the brain behind the idea of setting up an interactive platform for insurance buyers, AskArvi. He is capable of finding immense potential in every individual which helps him in finding right people for his team. He also foresee AskArvi as one of the most trusted and transparent insurance platforms in India.

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