Top 10 Traits Required to Become an Entrepreneur
Want to become an entrepreneur?
How does one go about becoming an entrepreneur? After all, it's not as though you can enroll in "entrepreneur school."
While there is no simple and exact formula, below you will find the top 10 key psychological traits that will help propel one into entrepreneurship. The great thing about these "requirements" is that these are all skills that can be developed. In other words, the path to becoming an entrepreneur is one that you control.
While there is no simple and exact formula, below you will find the top 10 key psychological traits that will help propel one into entrepreneurship. The great thing about these "requirements" is that these are all skills that can be developed. In other words, the path to becoming an entrepreneur is one that you control.
Top 10 Steps to Become an Entrepreneur
- 10. Desire
- 9. Independence
- 8. Take personal responsibility
- 7. Set goals
- 6. Confidence
- 5. Self-discipline
- 4. Drive/determination
- 3. Creative thinking/imagination
- 2. Coachability/resourcefulness
- 1. Stay hungry
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10. Desire
How bad do you want it?
On the journey to become an entrepreneur, one will encounter many obstacles. People will say that your ideas won't work. There will be forms and red tape and surprises and setbacks. And you will fail, likely more than once.Do you want it bad enough to get by these deterrents? Is your desire stronger than your fortitude to deal with the barricades?
You will be tested. If you want it bad enough, you will persevere.
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9. Independence
An entrepreneur must be able to work independently and think independently. He doesn't need to be told what to do. He doesn't need to be told when to do it. He possess the self-discipline and independence to reach these conclusions on his own and act on them.
8. Take personal responsibility
If you fail, it is not due to bad advice. It's not a result of the bad weather putting you in a foul mood. It's not because the dog ate your homework.
If you fail, it is because of you. As difficult as that is to hear, the sooner you accept this truth the sooner you will put yourself in a position to succeed. Accepting your failures and learning from them will cause you to look inside for a better solution next time. You will remain in a constant state of self-development which will propel you forward.
Take responsibility for your failures and view them as learning opportunities that will ultimately move you one step closer to your goal.
If you fail, it is because of you. As difficult as that is to hear, the sooner you accept this truth the sooner you will put yourself in a position to succeed. Accepting your failures and learning from them will cause you to look inside for a better solution next time. You will remain in a constant state of self-development which will propel you forward.
Take responsibility for your failures and view them as learning opportunities that will ultimately move you one step closer to your goal.
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7. Set goals
Establishing goals is a critical component of success, whether you have entrepreneurial inklings or you're comfortable with a more traditional work model. There is power in writing something down. Set small, realistic (and specific) goals initially. Once you achieve goal number one, move on to goal number two. Keep in mind a large, imposing project is always simpler to tackle when you break it down into smaller, more manageable sections.Failure to plan is a plan for failure. Always create and strive for goals.
6. Confidence
You have to know you will succeed. You have to want it with all of your being. You have to tell yourself daily that regardless of whatever unforeseen obstacles present themselves in your path, you will find a way around and continue to move forward.Doubts will creep in from time to time. This is only human. Having the confidence to squash those doubts is the important thing that will see you through. Visualize where you want to be ultimately and know in your heart that you will achieve it.
5. Self-discipline
No one is going to make you get out of bed when your alarm goes off. Your boss isn't going to yell at you when you get into the office late. In fact, no one will even notice if you don't go in to work today. And you certainly won't be paid when you're sick.The first 1-2 years of any business start up require extreme commitment and hard work. You must possess the willpower to force yourself up each morning, to continue to make progress even though you're tired or you don't feel well or you really just want to go home. You've got to have the self-discipline to do what needs to be done without anyone else telling you to do so.
4. Drive/determination
As an entrepreneur, you must know in your heart that nothing will stop you. You must believe with everything you have that you will not fail, you will not give up. Every day is a new opportunity to get out there and shine. Regardless of the obstacles that life may throw in your path, you will continue to move forward.
Rocky Balboa said it best: "It ain't about how hard you hit. It's about how hard you can get hit, and keep moving forward."
Rocky Balboa said it best: "It ain't about how hard you hit. It's about how hard you can get hit, and keep moving forward."
3. Creative thinking/imagination
Albert Einstein's thoughts on the importance of imagination:"Logic will get you from A to B. Imagination will take you everywhere."
"Imagination is more important than knowledge."
The ability to create is the greatest gift we possess. Creativity will set you apart from your competitors. Imagination will provide you with ideas which will cause you to stand out from the crowd. Thinking outside the box that most people remain locked inside of will help you achieve greatness.
48 Days to the Work You Love
Dan Miller book
48 Days to the Work You Love: Preparing for the New Normal
Amazon Price: $8.15 (as of 02/15/2012)
Many people accept the fact that you wake up Monday morning, dreading your day. Many people accept the fact that you hate your job and just try to get by day after day until retirement.
Many people are wrong. Dan Miller's book "48 Days to the Work You Love" truly opened my eyes and helped begin my journey into entrepreneurism. The core concept here is this: rather than trying to find a job, try to figure out what you are wired to do. Dan shows you how to turn your passion into dollars and have fun in the process. Again, this is one of those books that will change your life.
2. Coachability/resourcefulness
Intellect must be tempered by humility. Can you set your ego aside and be open to other people's perspectives? Bounce your ideas off many others for their input. You cannot do it all, nor should you. A good leader surrounds himself with people that complement his weaknesses.Read everything you can get your hands on (books, magazines, blogs, etc.). Seek out a mentor. Ask the opinions of those in your network. Knowledge is power, and the knowledge of many is power multiplied.
Utilize all of the tools that are available to you and be open-minded in your approach. Learning never ends.
1. Stay hungry
At times, your industry will change. Your customer base may shift. What's hot today may not be so tomorrow.How do you stay ahead of the curve? Never stop growing. Never stop looking for ways to improve. View your rise to entrepreneurship as a journey with no end. Staying hungry and avoiding complacence will not only keep you ahead of the competition but it will also help you navigate through the turbulent times in your business.
No More Mondays
Dan Miller book
No More Mondays: Fire Yourself -- and Other Revolutionary Ways to Discover Your True Calling at Work
Amazon Price: (as of 02/15/2012)
If you've read Dan Miller's 48 Days to the Work You Love, you'll understand why No More Mondays is a must-read as well. This was the 2nd book I read in my determined efforts to leave the rat race and become a self-employed, independent entrepreneur.
Consider No More Mondays the motivational kick in the butt while 48 Days is the action plan in book format. This book will help open your eyes to the opportunities that are all around and guide you toward discovering what your "calling" is.
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Agree? Disagree? Did we omit something from the list?
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AmyPKelly
Nov 23, 2011 @ 4:54 pm | delete
- Like your list. Here is a suggestion for an additional book http://www.amazon.com/Lemonade-Stand-Ara-Bagdasarian/dp/0557766869/ref=sr_1_3?s=books&ie=UTF8&qid=1322085093&sr=1-3
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JetVirtualoffice
Jul 7, 2011 @ 5:38 am | delete
- Good lens! I think no. 3 is underrated... All the most successful entrepreneurs have thought outside the box.
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GayleMcLaughlin
Jul 2, 2011 @ 12:03 pm | delete
- Great list! Definitely Agree. Enjoyed the lens!
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lasertek
May 10, 2011 @ 7:48 pm | delete
- Agree! A number of people dreams of becoming an entrepreneur but fail to have confidence. That is why only a few pursue their dream.
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magicgeniewishlist
Jan 14, 2011 @ 11:58 pm | delete
- I believe there are 2 types of people in the world
1/ The worker
2/ The business owner
The difference?
- the worker is only as good as their last pay cheque
- the business owner always tries to find ways to create a passive income.
Fantastic lens, some great and very true information here. Well done!
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