It is often quoted that there is no shortcut to success. However, the question to be raised here is as entrepreneurs do we really need a shortcut?
Success doesn’t come and find you, you have to go out and get it. While there isn’t any foolproof plan for success, there are certain attributes that most of the successful entrepreneurs share. Are they born with these characteristics? NO. They incorporate these traits taking one at a time.
Here are some common denominators that I have found relates most of the successful entrepreneurs.
1. Enjoy what they do!
“If you are working on something exciting that you really care about, you don’t have to be pushed. The vision pulls you.”
– Steve Jobs
While this might seem a very insignificant point, it is one of the most important traits required to succeed.
If you don’t enjoy what you are doing, you will never be able to give your cent percent effort to it, which makes it safe to say that, you won’t gain any personal satisfaction from your work. This increases the likelihood of lack of success may be even total failure.
Also Read 10 most common reasons why most startups fail.
2. Always Hustling
“What you lack in talent can be made up with desire, hustle and giving 110 percent all the time.”
– Don Zimmer
Success requires a little bit of grit and hustle. You will find loads of people whose fantasy is to become an entrepreneur some might even have a great idea but there is a distinct disconnection between the ones who fantasize to become one and the ones who actually are. You don’t find successful entrepreneurs lazing in or just sleeping in. They are always working on innovations, creativity. Simply said, they are always hustling and not sitting back idle.
3. Risk Takers
“Whenever you see a successful business, someone once made a courageous decision.”
– Peter Drucker
Shark Tank’s Barbara Corcoran turned a $1000 taken in mid-seventies into a $5 billion real estate business back in 2001.
Risks are not always financial. In Corcoran’s case the initial amount wasn’t risky. What was risky was she giving her hundred percent in making a business work with such little capital. Mostly people think that for a successful start up a huge amount of investment is required. They are afraid of taking a risk by believing in themselves and thus are handicapped by small funding.
4. Eternally Optimistic
“It’s the will that’s awakened in the darkness, that brings us to a more permanent light.”
-Doniel Katz
Mr. Ferruccio Lamborghini, founder of Lamborghini once decided that there was nothing Ferrari was doing that he could not do better. Today we have Lamborghini as one of the leading manufacturers of luxury sports cars. Would he have succeeded had he been intimidated by Ferrari and its success or had he been a pessimistic!
Optimism is the basic strategy for making a better future. A positive optimistic vision will always take you a long way. Being positive calms your mind and allows you to explore more opportunities. Positivity always drives you forward.
5. Networking
Networking is not just about having a large contact list. Social media has made connecting with people as simple as possible but the fallacy of social media is, it helps in building connections not relationships. Having a value-based relationship that leads to a long-term business opportunity is what networking is all about.
6. Stays Sharp
“Anyone who stops learning is old, whether at 20 or 80. Anyone who keeps learning is young. The greatest thing in life is to keep your mind young.”
-Henry Ford
To stay sharp you need to constantly keep learning. This in no way implies you should become a bookworm or a geek, rather you should be craving for knowledge. Our world is constantly evolving, technology is changing rapidly. Learning constantly will help you stay ahead of your competitors.
7. Excellent Money Managers
“The more your money works for you, the less you have to work for money.”
-Idowu Koyenikan
It doesn’t matter if you have millions of dollars of investment to expand your business, learn to bootstrap from the very beginning. One poor financial decision however petty it may seem can ruin a business. Map out your expenses and obligations. Entrepreneurs always ensure that investors and shareholders are on the same page as themselves.
8. Perseverance
“Failure is simply the opportunity to begin again, this time more intelligently”
-Henry Ford
Prior to Ford Motor Company gaining success, Ford founded two automotive companies that failed. Yet, at the time of his death his net worth was $188 billion. Had he not been perseverant would this be possible?
Entrepreneurship comes with no guarantees. It most certainly is not easy. More than 95% of start ups hit a dead-end at some point or another. However, successful entrepreneurs know that failure is a sign to keep pushing forward and working harder. They treat failures and rejections as stepping stones to success.
Of course, you cannot incorporate all these characteristics just today. Try the ones you can relate the most with. Try learning from entrepreneurs you consider to be your mentors or from your own personal experiences. Start today itself, start right now to become a successful entrepreneur in the days to come.
