4 Traits Entrepreneurs Should Have
Looking around, it feels like entrepreneurs have some special sauce. Perhaps they’re born with a different gene that makes them more innovative and driven? Or maybe they have superpowers?
Nope.
The truth is, there is no special brain power, or genetic code that gives entrepreneurs an edge. They are not much different than non-entrepreneurs except that they have disciplined themselves to adopt certain mindsets. They train their brain to approach problems differently — in creative ways. To do this, they read, study, research, and just simply practice thinking differently.
Here are the four vital traits any entrepreneurs should have:
1. They have Grit.
Ever heard the saying, “turn lemons into lemonade?” For entrepreneurs this is a daily activity. If there is one thing we’ve learned from our Podcast interviews its that the struggle is real. Entrepreneurs face huge challenges everyday, whether its finding funding, getting others to believe in you, facing haters, getting told no, or marketing their products. There is a never ending flow of lemons. But every successful entrepreneur we have talked to or read about, all did one thing: They. Kept. Going.
Passion and perseverance are the two common characteristics of successful people, says Angela Duckworth. In her instant New York Times Bestseller, Grit: The Power of Passion and Perseverance, the renowned psychologist explains her hypothesis, that what really drives success is not “genius” but a unique combination of passion and long-term perseverance
2. They See Opportunities in Everyday Obstacles
Entrepreneurs are always looking at problems or inefficiency’s and trying to come up with solutions. I’ve seen it happen while in everyday places. I’ll be in line to get coffee with one of my best entrepreneur friends. She’ll look around and say, “You know, if they moved that refrigerator 3 feet to the left, they would probably cut down on serve time by 5 seconds per order.”
Entrepreneurs are constantly testing themselves to think of better ways of doing things. So when they come across a problem big enough, they are excited for the challenge, and are inspired to create innovative products or services to solve the problem.
3. They Face Their Fears.
According to Harvard Business School researchers, one of the most prominent traits of entrepreneurship is not being afraid of uncertainty. Entrepreneurs exude, "skills and behaviors associated with being able to move a business agenda forward in the face of uncertain and ambiguous circumstances."
Entrepreneurs face risk every day. Whether that’s the risk of getting sued, risk of being turned down by a major client, or risk of going bankrupt, its scary stuff. In order to survive, entrepreneurs have to learn to deal with the fear associated with risk. This doesn’t mean that they are reckless and take on unnecessary risks, but in order to get things done, they can’t be risk averse. They must take calculated risk and face them head on because they believe in what they are doing.
For example, if Alyssa Walker, had never faced her fear of cold calling a business to ask if they will pay her for advertising, then TwentySomethingSA would never have existed. Entrepreneurs must be able to power through their fear and face obstacles. They are able to commit to their dreams and desires to the point that they are so focused - fear cannot hold them back.
Entrepreneur.com says “To adopt a fearless mindset, entrepreneurs need to have extremely clear goals. This allows them to map out a plan for how to attain them. Yes, they may veer off track at points, but ultimately they are able to stick to their conviction and move forward confidently in the direction of their dreams.”
4. They Give Back
Entrepreneurs know, what goes around comes around.
According to the Harvard Business Review, generosity may have been the reason big names like Nordstrom and Netflix were so successful.
Entrepreneurs know that when you give to others, you are investing in yourself, too. For example, if a STARTUP Club member acts as a mentor to another less experienced Club member, they recognize that they stand to gain perspective on their own business, and that their fellow Club member could become a vendor or distributor for them someday.
Though, the biggest benefits of generosity are intangible. To me, it’s about good karma. By treating people with respect and helping them whenever you can, you’re more likely to receive support in return when you need it. This is what THE STARTUP CLUB is all about.
Thanks for reading! I’ll see you around the Riverwalk,
-Sam