10 Characteristics of Successful Entrepreneurs in 2019

10 Characteristics of Successful Entrepreneurs in 2019

Do you have what it takes to be a successful entrepreneur? One that can build a sustainable business?

Or, should you just keep your job? Most people have no real desire to work for themselves or to own a business. Most people are content to go to work every day, even if they do not like their job.  After they get off work, they are happy to go home and to relax, have fun or spend time with family, friends or on a hobby.

Then there are those of us that long to have our own business. We love the challenges. We want to be in control of our destiny and our time. Granted, our concept of being in control our time typically means that WE CHOOSE to work long hours on our business. If not, we know that the alternative means getting another J-O-B.

The fact that you are reading this pages, tells me that you are willing to learn. You are already thinking ahead and starting to plan. Those are certainly traits needed to successfully start you own business.

 

“Success leaves clues, and people who produce outstanding results do specific things to create those results.” – Tony Robbins

People that are successful entrepreneurs share the following 10 characteristics. They:

  1. Have lots of self motivation
  2. Work hard
  3. Desire to always be learning.
  4. Enjoy challenges & solving problems.
  5. Posses a strong sense of integrity. (Business owners that operate dishonestly rarely survive in the long term.)
  6. Are flexible and adaptable.
  7. Have a strong drive to succeed. They are tenacious, persistent and patient as they work towards achieving their goals.
  8. Understand the value of a strong network of people (Even if the entrepreneur does not have employees, their network could include peers, vendors, consultants, financial partners and employees.)
  9. Are willing to take calculated risks.
  10. Take action even if some ideas may not work out. They refuse to let the fear of failure paralyze them.

If you want to build a profitable small business, it is important to recognize and plan for the possibility that it may realistically take 18 – 24 months before your business gets off the ground. During that time, it will most likely be necessary to have an alternate source of income or funding to cover the operating costs.

 

Since I quoted Tony Robbins earlier, I would like to leave you with one of his short motivational videos.

 

What is your purpose? Are you willing to live your life with a sense of purpose? Or will you let fear paralyze you?

 

Again, not everyone is meant to own their business.   Are you one of those that is?  If so, please do not give up on your dreams.

 

 

Thank your for reading.   If you want to start a business, please consider me a resource.   I will help you how ever I can.

Sondra

 

References:

Except for Forbes and the IRS; each of the references that I am citing for this article could allow you to meet some people that could potentially be valuable addition to your network if you want to start your own business.

US Minority Business Development Agency

Forbes: Surviving Your First Year as a Small Business Owner

IRS Publication 535 – Business Expenses

Small Business Administration (SBA)

SCORE – A resource partner of the SBA that provides business mentoring and education

Small Business Development Center



12 thoughts on “10 Characteristics of Successful Entrepreneurs in 2019”

  • Wow, I love that blackboard image you’ve used. It has real impact.

    The point that you make is a very interesting one. There are plenty of people who THINK they’d like to be their own boss, but the question they need to ask themselves is do they have the right temperament for it.

    Your 10 characteristics are a great starting point.

    1 to 4 should be givens. Anyone wanting to start their own business should automatically have them. Most people understand that when they run their own business, they can’t just down tools at 5pm and head off for adrink.

    5 is vital but not always understood. Until you get “too big to fail” every small business must be run with integrity or it simply won’t last.

    6-10, especially the last one, Take Action and, by implication, pick yourself up, dust yourself off and try again are all of vital importance too.

    Thank you, Sondra, for these insights.

    • Hi Phil.  Thanks for commenting.    With the exception of 5, I completely agree with you.  

      I do think that I disagree with you on 5.   Some businesses may think they are too big to fail, but they can.    

      I live here in the US.  We have had multiple huge businesses fail due to fraud.   Enron, the energy giant, and Arthur Anderson, both discovered they were not to big or to distinguished to survived Enron’s criminal activities.   At the time, Arthur Anderson was one the world’s Big 5 Certified Public Accounting firms.    It was very sad. It rocked the public accounting industry also because the public auditors are supposed to catch things on that scale.   ( I was a certified public accountant living in Texas a few hours from where Enron was based….so I remember the story very well.)  

  • Hi Sondra,

    You pose some great questions here and questions that can only be answered individually. The idea of owning a business is very scary to some. Your list of 10 requirements although not had by everyone can still be developed and if fear of failure is one then the attitudes you have then change it so I cannot fail if I never give up is a  strong attitude too practice. I for one have taken the leap and I know with the attitude mentioned above I am sure to be a success!

    Thanks for the post

    • Hi Paul.   Successful entrepreneurs will have the 10 traits in varying degrees at varying times.  That is part of the reason why it is important for people to develop a network of people that can help them during challenging times.   That is also why motivational speakers like Tony Robbins are so popular.   He does a great job of helping people remember their purpose so that they can work their way through fears.  

      Me….I try to replenish my motivation levels every day by reading inspirational quotes and watching motivational videos.   

      As long as you can keep your determined attitude, you will succeed.  I have confidence in you.  
       

  • An educational post you have there and it so motivating.starting personal business can be challenging at the beginning 

    and majority of successful people today, each and everyone of them have there own stories to tell about all the challenges they go through . But at the end they all say they are happy they took the risk of starting there own business even if it a small personally business.the article is a motivational one for me because I just start my own business and I will never give up on the business  till it become successful 

    • I feel honored that you took the time to reply to my article.   I am glad that you found it motivational.   

      The fact that you are working hard to learn about business and entrepreneurship  even though English is not your first language is very inspiring.    I hope that your new business turns out even better than you are imagining.   I also hope that when you encounter the challenging times, that you will remember this post.  I hope that you will remember that you possess the traits to become successful.  

      Best wishes as you begin the journey of building your business.   I hope that it excites you for many years to come.  

  • Hi SondraThat’s a great opening question and one that many people wonder about – should I just keep at my job OR should I start my own business?  What sort of business?  Do I have what it takes to be a successful entrepreneur?So many people are unhappy with their jobs, most accept it, but a few want a lot more than that and are willing to take action.I agree with your 10 characteristics of successful entrepreneurs, they really summarise the keys to success very well and lay the foundation for the right mindset.  I love your video and this helps with mindset too.What are your recommended businesses for people wanting to start out as an entrepreneur?

    • Hello John,  I am glad that you enjoyed the video.   When we face challenges as entrepreneurs, it is important to be able to find ways to strengthen our resolve and reduce our fears when the going gets tough.   

      What are my recommended businesses for people?    It is difficult to answer that here without knowing anything about the person who is considering starting a business.    I would say that the person needs to find something they are passionate about.     Within the next two weeks, I will be publishing some articles that I have been working on for months about different types of businesses and business models.   

      The articles will discuss different business options for   people interested in pets, the travel industry, writers, real estate and home staging and photographers.    For each category I will discuss everything from affiliate marketing, to online stores, to franchises and independently owned brick and mortar locations.  Plus combinations.  

      Thank you for asking….Now I’ve committed myself to finish the editing.

      Best wishes. 

  • Contrary to popular opinion that everyone would be better off as an entrepreneur, I think 9-5 jobs aren’t as bad as people make them out to be. Not everyone would be an entrepreneur and for the fact that you’re an entrepreneur doesn’t mean you’ll earn more than someone who is on a salary so it just depends on what rocks your boat!

    • I agree with you completely.   

      The majority of my family members, to include my parents and grandparents were very happy with their jobs.    The idea of the “risks” that I take working for myself almost makes them sick.   They like knowing when they will get their paycheck.   They like to know that after they have worked their shift, that they can go home and do whatever they want.    

      Others in salaried position enjoy the benefits of working a part of a team in a large organization.  Many large organizations are doing exciting things that change the world or make it a better place.   

      Then, some people have the desire to work for themselves.    As you say, it is important to do what rocks your boat.        

  • Thanks so so much for this, I have always wanted to do something for me not just have a nine – five (9-5) where I sit behind a computer or some books/ documents and have endless backaches. I very much would like to be an entrepreneur and in the past few years I have learnt a little about entrepreneurs and entrepreneurship. But in this write up here today, I really like the 3rd point which talks about the desire and enthusiasm to learn. It has taught me so much more. Thanks.

    • You are very welcome.    If you ever have time to learn more about the successful business people that you admire; you will discover they all take time to read and learn every day.     

      Recently, I was reading about how even the most popular fiction novelists take a little time almost to read other people’s books.    

      I hope that you never lose your enthusiasm and desire to always be learning.   

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