In a world of innovation and creativity, one can wonder what it takes to succeed and stand out from the crowd. Being a successful entrepreneur is a combination of a myriad of different qualities, but there are common traits that entrepreneurs tend to have.

So, what does it take to become a successful entrepreneur? There is no one better to learn from than the best.

1. Responsible

One of the key traits that entrepreneurs share is the ability to be responsible for their actions. It is important to not only be able to know when you have made an error or mistake, but also put energy into thinking ahead and taking the next course of action.

“Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.” – Steve Jobs

Throughout his entire career, Steve Jobs and his partner Steve Wozniak used these traits in their development of technology and Apple products. Different versions of these devices and programs required both entrepreneurs to be honest with themselves about their progress, take responsibility for any mistakes, and shift their focus to resolutions and improvements.

2. Hard worker

Another key trait that is common among entrepreneurs is having a hard work ethic. In order to accomplish any goal or dream in your life, it is important to have the drive and effort to make it into a reality.

“Whatever your goal, you can get there if you’re willing to work.” – Oprah Winfrey

In order to become the successful business entrepreneur that she is today, Oprah Winfrey has conquered many barriers in her career path by sheer dedication and hard work. Her many milestones and successes, including the Oprah Winfrey Network, are a testament to her commitment. Aspiring entrepreneurs should take note of her passion, in the sense that any dream can be reached as long as you have a strong work ethic.

3. Team player

Success flourishes with the help of others. Whether it is being a part of a team effort or having a strong support system, successful entrepreneurs recognise that others make you stronger. It takes a village to raise a child, and it takes many to create and innovate.

“We all need people who will give us feedback. That’s how we improve.” – Bill Gates

As the wealthiest person in the world and the creator of Microsoft, it is undeniable that Bill Gates is a successful businessman and entrepreneur. He himself, however, recognises that his success was attributed not only to him but also to those who supported him. This recognition of team effort and interdependence is a key trait that entrepreneurs tend to share.

4. Imaginative

Another common trait that entrepreneurs tend to share is their creativity and imagination. In order to create and innovate, one must have an idea to spark the flame, as it is an integral part of successful entrepreneurship.

“We do not need magic to change the world, we carry all the power we need inside ourselves already: we have the power to imagine better.” – JK Rowling

Personal introspection and finding the power inside you to create is not an easy thing to do, but it is possible for each and every one of us. JK Rowling is one of the most successful authors and entrepreneurs of all time, and much of this is due to her imagination and ability to find the story that everyone wants to be told, such as Harry Potter. Imagination is the first step to innovation.

5. Problem-solver

This trait is unsurprising, given the fact that a key component to entrepreneurship is to innovate, which is known to come with hiccups. To be successful, it is important to have the skills needed to correct these problems and adapt to whatever is necessary.

“If the facts don’t fit the theory, change the facts.” – Albert Einstein

As a famous scientist and inventor, Einstein is a person to look to for entrepreneurship advice. In order to become successful in his theoretical physics, and make his well-known discovery of E=MC2, Einstein had to go through many trials and errors of his work. This is an important trait that entrepreneurs must have in order to be successful in their innovations and work.

6. Resourceful

Most successful entrepreneurs share the trait of being resourceful and creative. Businesses must start from the ground up, and at the ground level you are often limited in the choice of resources you have at your disposal.

“I had to make my own living and my own opportunity. But I made it! Don’t sit down and wait for the opportunities to come. Get up and make them.” – Madam CJ Walker

A successful entrepreneur that embodied this trait was Madam CJ Walker, creator of the hair and beauty marketing line for black women, Madame C.J. Walker Manufacturing Company. Walker took the resources that she had available to her and used them in the best way she could to create success. As one of the wealthiest and most successful African American and woman of the world, aspiring entrepreneurs should learn from her example and utilise their resources to the best of their ability.

7. Risk taker

In business, there is no way to succeed without taking an educated leap of faith. Successful entrepreneurs have this trait in common with one another, as the ability to take a risk can be seen as the stepping-stone to success.

“The biggest risk is not taking any risk. In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

As one of the most influential entrepreneurs of our time, Mark Zuckerberg has certainly demonstrated this trait in his creations. Building Facebook at the beginning of the digital age came with many risks, however it is clear that these risks paid off as both Facebook and Zuckerberg are widely known and successful.

8. Sensible

Taking in the entire picture is also another trait that successful entrepreneurs tend to share. The ability to see the big picture and turn negatives into positives is a great asset for any business entrepreneur.

“Enjoy failure and learn from it. You can never learn from success.” – James Dyson

This message by James Dyson, creator and inventor of the Dyson Company for home appliances, is important for entrepreneurs to understand. Changing your perspective and seeing the value in failure rather than the cost can be incredibly beneficial to the success of your business. Entrepreneurs should consider this advice when focussing on their products, as you never know what opportunities failure may give you.

9. Courageous

Another trait that many successful entrepreneurs have in common is their courage. In order to make dreams into a reality, one must have the courage and determination to work hard and take action. Opportunities do not come to you; you must be courageous enough to get them.

“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney

The world’s most famous dreamer and creator, Walt Disney, is an entrepreneur that demonstrates this quality in so many ways. His success came from not only creating his animation and art, but also by having the courage to share it with the world. If one does not have the courage to let their work be seen, there is no opportunity for success.

10. Passionate

Passion is a trait that is shared among successful entrepreneurs, and is the driving force of innovation. It is an integral part of entrepreneurship, as passion fuels individuals to accomplish the hard work and effort needed to generate success.

“Believe in yourself, never give up and go about your business with passion, drive and enthusiasm.” – Peter Jones

Entrepreneur Peter Jones is a successful businessman, known for creating the famous television show “Dragon’s Den.” This program itself showcases businesses and entrepreneurs seeking to grow their companies and products. Jones looks for these qualities in contestants. In order for an invention to come to fruition, the entrepreneur must be passionate about the product and believe in its potential for success.

Take home message

Learning from others is incredibly helpful when developing and starting a business. The above entrepreneurs are leaders in the industry and their advice and feedback on what they believe influenced their success should be considered heavily by aspiring entrepreneurs. Although these traits are just a few of those needed to become successful, entrepreneurs can hopefully find these helpful in their business decisions!

Thanks for reading!

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Posted on November 2nd, 2017  and last modified on January 4th, 2018.