common characteristics of successful entrepreneurs

Common Characteristics of Successful Entrepreneurs

8 Common Characteristics of Successful Entrepreneurs

I am often asked, “Michelle, what are the common characteristics of successful entrepreneurs, as in yourself?”  The words that immediately come to my mind are drive, passion, work ethic, energy, excitement, etc….  Though, my list is never the same and it’s always changing.

Whatever your definition of success is there are, oddly enough, a great number of common characteristics that are shared among successful entrepreneurs. Place a check beside each of the below common characteristics of successful entrepreneurs that you feel that you possess. This way, you can see how you stack up. Even if you don’t have all of these characteristics, don’t be upset. Most of these characteristics can be learned with practice and by developing a winning attitude, especially if you set goals and apply yourself, through strategic planning, to reach those goals in incremental and measurable stages.

Here we go: 8 Common Characteristics of Successful Entrepreneurs

  • Association – Who you are associated with and who you don’t associate with are both equally important.  Successful entrepreneurs are not associating themselves with negative individuals who have the ability to bring down in their efforts towards success.  When you associate yourself with other leaders, positive and like minded individuals the doors begin to open up and opportunities begin to present themselves.
  • Mastermind – Successful entrepreneurs surround themselves and mastermind with like minded individuals.  This creates momentum in their businesses through the accountability and energy a mastermind group can provide.
  • Coachable – All successful entrepreneurs are coachable.  They are open to criticism and open to becoming more successful. Often times it’s through criticism that we can grow and become a more successful entrepreneur.  In my experience as a coach / mentor we often see the potential in our students that they may not see and that’s why allowing yourself to be coached, you too can grow and become successful.
  • Hunters – Successful entrepreneurs are always on the hunt.  Whatever it is you are trying to achieve whether it be a new recruit, prospect, bonus, contest, success, dream, you must always be on the hunt to achieve the your desired result.  This will require hunger, drive, eagerness and passion to remain a good successful hunter.
  • Invest – Successful entrepreneurs are always investing in their  personal development and investing in their business.  If you aren’t investing in your business or yourself you are not growing.  Treat your business as a business and realize you must invest in it in order to receive a great return.
  • Manage – Successful entrepreneurs know how to manage their time, money, personal life, hours.  They successfully find balance between work and personal life.  This is all done by excellent management skills. If you are poor at managing your time, schedule, money, business, personal life, etc… you quite possibly are going to go down the road of failure.  Set out a schedule everyday and write it down.  If you follow your schedule you are more likely to accomplish what you set out to do each day and get more done without the daily distractions that will naturally come your way.
  • Share – Successful entrepreneurs know the value of sharing.  This means sharing value, wealth, knowledge, time and the more you share the more successful you will become.  Sharing creates an awareness in our society and people take notice.  Once they take notice they eventually view you as a leader and naturally want to follow you the “leader”.   Don’t be afraid to share too much, because the reality is, 97% of individuals receiving the value from a successful entrepreneur will not put the information to use.
  • Work – The last common characteristic of successful entrepreneurs is work.  They have a good work ethic, work hard, work smart, and are always working.  The mind, body and soul of an entrepreneur is always at work.

How many of these 8 common characteristics of successful entrepreneurs did you check off because they applied to you? Leave a comment below, I would love to know. If you are lacking success don’t fret, write these down and keep them somewhere close to you and start to implement each one of these characteristics through personal development and education.

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