Did you know that 90 percent of new billionaires are self-made?
But not everyone has what it takes to be a successful entrepreneur. If you want to join the likes of Bezos, Musk, and Zuckerberg, you need to have a specific set of qualities.
Even if all of their qualities don't come naturally, take heart. Some of them can also be learned skills.
Are you already equipped with all the qualities of an entrepreneur, or are there certain areas you need to work on?
Big-picture thinking
One of the things that sets entrepreneurs apart is big-picture thinking. You won't catch a successful entrepreneur dithering over extraneous details. Instead, they're visionaries who can see beyond the day-to-day.
Amazon is a prime (pardon the pun) example of how big-picture thinking drives successful businesses.
Instead of getting stuck on the original idea of an online bookstore, Jeff Bezos could see the big picture. He saw the opportunities in e-commerce before it was even a term.
Creativity and the ability to make connections
Other components of the entrepreneurial mindset are having the right idea and the ability to solve problems creatively.
One of the secrets to this type of creativity is the ability to form connections. A lot of the world's best ideas were sparked into being by sensing the possible connections between seemingly unconnected things.
To quote Steve Jobs, “Creativity is just connecting things.”
This is also one of the reasons why the best entrepreneurs are always eager to learn new things, even if they don’t relate to their line of business. Most successful entrepreneurs are naturally curious. They ask the right questions, and they don't get caught up in what they don't know.
They are also quick to change their opinions in response to new information.
The takeaway? If you want to exercise your creative muscle, become interested in things outside of your "wheelhouse." You never know when seemingly random curiosity can trigger a big idea.
Drive and discipline
Having a great idea is rarely enough. You also need to have the ability to bring it to life and start running a company. Therefore, drive and discipline are two key qualities of an entrepreneur.
The way this plays out for entrepreneurs often doesn't look disciplined. A lot of entrepreneurs display ADHD-like tendencies, love multitasking, and have high levels of energy, bordering on the hyperactive.
A diverse set of skills and continuous learning
What got you here won’t get you where you want to go. You’ll need a diverse skill set to manage various aspects of your business – knowhow you may lack or which will become obsolete over time. Continuous learning allows you to acquire new skills, such as marketing, finance, leadership, and technology, which are essential for running a successful venture. These skills empower you to make informed decisions, solve problems, and effectively lead your company.
Ability to embrace risk and failure
One of the biggest creativity killers is the fear of failure. If you want to bring an idea to life, you can't let fear paralyze you into a state of non-action.
You also need to be able to handle a fair amount of risk. Entrepreneurs usually display a high level of risk tolerance and are apt to embrace failures as valuable lessons rather than disasters.
Decisiveness
Decision-making is an essential part of being a business leader. Entrepreneurs have to be able to think on their feet and not get locked into a state of indecision.
Charisma and the ability to persuade
Lastly, entrepreneurs tend to be charismatic people who can infect others with excitement about an idea.
If you want to birth a business or propose an idea, you must be able to draw people into your vision, make it come alive for them, and paint a picture of what's possible.
Do you have the qualities of an entrepreneur?
Entrepreneurs come in all forms, but there are a few common tendencies that can help predict their success.
You may naturally possess all the qualities of an entrepreneur, or you might have some areas you could hone.
Take action
If your key team leaders and managers are not learning and managing well or you need to “sharpen your saw” and get quick-smart to deal with increased competition and complexity, we should chat. We're certified professionals committed to helping you excel in every area of your business and life.
Let’s set up a time to talk. Brian Tracy USA: 877.433.6225 Email Me feedback@focalpointcoaching.com
