I am fortunate to stand on the shoulders of Brad Sugars, founder & CEO of ActionCOACH, and the more than 1200 ActionCOACH business coaches located in 29 countries. While thinking about the topic for this article, I came across an article published in ActionSTEPS, our weekly newsletter to business owners. This article so effectively expounded upon my recently published six part series on the Entrepreneur Ladder, that I decided to use it as the basis for today’s column.
By examining the 5 levels of the Entrepreneur Ladder we gain a better understanding of the fundamentals that distinguish ordinary entrepreneurs from the extraordinary. There are certain traits common among successful entrepreneurs. While individual entrepreneurs have many unique traits that are not common to others; all entrepreneurs do share a kindred spirit, a certain type of constitution and outlook, with a special drive and willingness to do what it takes. This article examines a dozen characteristics that are within successful entrepreneurs, without which most people fall short of success in entrepreneurial endeavors.
#1 Confident
Confidence, a hallmark of the entrepreneur, can be developed over time. Many confident individuals gained their sense of self esteem and faith in their ability to overcome challenges by acting, even when they lacked the confidence, and then growing in strength and belief through seeing results.
#2 Sense of Ownership
Entrepreneurs take responsibility for problem solving. Rather than viewing a problem as someone else’s, entrepreneurs see it as their own and take pride in finding solutions. Rather than controlling situations in an attempt to possess them, entrepreneurs teach others how to take charge. Clever entrepreneurs use individual accountability in the ultimate pursuit of profitability, teamwork, and overall success.
#3 Able to Communicate
Communication is the key to successful relationships with people. Entrepreneurs work to hone communication skills, written, spoken, and non-verbal body language. Above all, entrepreneurs develop a keen ability to listen to what others are trying to say.
#4 Passionate Learner
Entrepreneurs are often “autodidactic” learners, which means that much of what they know they learned on their own by seeking information, asking questions, reading, and research. They are also quick to learn from their own mistakes. True entrepreneurs surround themselves with those who know more than they do in related disciplines.
#5 Team Player
Business owners who have not mastered team building become enslaved to the daily tasks of running their business. They
shoulder the whole burden for themselves, and will never advance up the e-ladder to building a business that works without them. Entrepreneurs master team building.
#6 Systems-Oriented
Good systems leverage entrepreneurs, allowing greater results over time with less exertion or resources. Entrepreneurs rely upon systems before they rely upon people. They implement system-based solutions before human solutions, recognizing that most routine problems are not people problems, but system problems.
#7 Dedicated
Entrepreneurs dedicate themselves to the fulfillment of their plans, visions, and dreams. It is that tenacity of purpose that generates focus and electricity throughout their entire organization.
#8 Grateful
Being grateful for what we have opens us to receive more. Those who are grateful appreciate and nurture what they have. Entrepreneurs learn to take nothing for granted in this world. Thankfulness for their skills, employees, and blessings reminds them that riches and wealth are not about “stuff”, but are about fulfillment, satisfaction, and the pleasure that comes from one’s accomplishments and contributions.
#9 Optimistic
Entrepreneurs see setbacks as bargain priced tuition for the business lessons gained through firsthand experience. They remain steadfastly faithful to their vision and refuse to give in to fear.
#10 Gregarious
Because business is all about people, entrepreneurs tend to be socially outgoing. They have the ability to contagiously share excitement about their ideas, products, and services. They tend to be fun-loving, both on and off the job.
#11 Lead by Example
Entrepreneurs are skilled at leading others through their enthusiastic approach to life. They know the importance of teamwork, and they understand the need to appreciate others, support them, and reward them. True leaders do not become indispensable; otherwise things fall apart in their absence.
As retired United States Air Force Major General Perry M. Smith once wrote, “Leaders who share their power and their time can accomplish extraordinary things. The best leaders understand that leadership is the liberation of talent; hence they gain power not only by constantly giving it away, but also by not grabbing it back.”
#12 Not Afraid of Risk or Success
Many people could be successful if they only took calculated risks. Unfortunately many people who do take chances and become somewhat successful find the realization of their dreams an overwhelming possibility, so they sabotage their continued success by retreating back into a comfort zone of smallness. Entrepreneurs realize that due diligence and reliance upon their skills and honed intuition is far superior to paralysis by fear.
Do these characteristics resonate with you? Then join us in the great American dream of entrepreneurship!
Rob Garibay is a local business owner and business coach with 30+ years of business experience. Forward your business questions to: 405 573-6537 or robgaribay@actioncoach.com
