The number of books, articles and posts written on the traits of successful entrepreneurs range in the hundreds, and this simply adds another digit to that tally. Yet despite all the grand lists, we believe that these 7 traits are some of the most basic and crucial traits new entrepreneurs ought to emulate from the start.
1. They know how to say 'no'
When it comes to being an entrepreneur, the shine of new business opportunities can often tempting. Successful people are selective and focused with a clear understanding of what they want and what is beneficial for their businesses. This allows them to be able to respectfully say 'no' and prioritize their decisions.
2. They know they are not super-human
Hard work, long hours and a million and one things to do are all part of what it takes to be an entrepreneur. However, even the most successful of them will tell you that understanding our limits, and the need to recharge are the first step in creating a work-life balance. Take time to be with family, go on vacations and take breaks.
"Nobody learned anything by hearing themselves speak." Richard Branson
3. They know how to embrace failure
Risk plus entrepreneurship equals the potential of failure. With every venture there is always the possibility of it not turning out how it was expected. Successful entrepreneurs at some point have a few failures under their belt, but it is the urge to keep trying that sets them apart.
4. They understand the art of listening
Perhaps one of the most difficult and elusive of traits, the art of listening has been overlooked numerous of times. Yet, when one observes some of the most successful entrepreneurs, majority of them can attest to the strength that comes with listening. Business is about building relationships, and listening enables one to learn other people's views thus establishing an effective communication.
5. They are humble
A common perception of entrepreneurs is that they are arrogant and all-knowing. And though that may be true for some, it is those who truly understand the importance of humility that truly attain success. They understand how to relate to their co-workers and their work. They know that in order to build a successful company, one has to set aside their ego and learn to embrace diversity.
"Knowing that things could be worse should not stop us from trying to make them better." Sheryl Sandberg
6. They admit what they don't know
No one knows everything. It is a fact that is known, understood and accepted as truth. Successful entrepreneur understand where they lack in knowledge and admit it to not only themselves but to others enough to ask for help. But beyond that, they actively go out learn and discover for themselves.
7. They know the pacing game
Rome was not built in a day, and successful entrepreneurs know that to build a successful business that will last for years into the future will take just as long. Yet, they are also faced with the impatience of wanting to do more. It is best described as a pacing game; where the patience to maintain a certain speed is accepted, but it is when there is a drop in the pace that entrepreneurs find themselves itching for more. Accept it, embrace and learn to let it be your motivation.