7 Characteristics of Successful Entrepreneurs

Learn about the 7 essential characteristics for entrepreneurial success: marketing & establishing contacts, empathy, determination, vision, passion, spirit & focus on people.

7 Characteristics of Successful Entrepreneurs

Being an entrepreneur is no easy feat. It requires a unique set of skills and characteristics that can help you succeed in the business world. From marketing and establishing contacts to exercising empathy and having a vision, there are many traits that can help you become a successful entrepreneur. One of the most important characteristics of an entrepreneur is the ability to market and establish contacts.

This is a skill that can be learned, even if you're more of an introvert. The ability to exercise a sense of empathy is also essential. Whether you manage a large team or work directly with customers, you must have the ability to understand others and connect with them on a genuine level. Successful entrepreneurs can put themselves in the shoes of others and consider the perspectives of their customers and employees when making decisions. Determination is another key factor that separates successful entrepreneurs from those who are most likely to give up.

According to Grit by Angela Duckworth, it's about “sustained passion and perseverance applied to long-term achievement, without particularly worrying about rewards or recognition along the way.” Every successful entrepreneur started with an idea or image about something they were passionate about creating. A business vision statement is also important. It's an image you have of what the company will be like in the future or what you imagine it will become. A business vision specifically considers what you want your company to become, what this company will be like, what are the forces that drive it and what values and culture should surround it. What does it mean to have an entrepreneurial spirit? In the case of a hotel entrepreneur, it could mean being passionate, determined, positive, bold, persistent and curious. Passion is a vital element of the business process.

Without it, an entrepreneur's drive to run the business may diminish. The combination of vision, determination and spirit are mutually reinforcing and keeping the entrepreneur on the right path with the company's next steps. Twenty-three percent of entrepreneurs identified that one of their main characteristics was focusing on people. Every entrepreneur has a different combination of characteristics that make them the best person to lead their business. Having these seven characteristics can help you become a successful entrepreneur: marketing and establishing contacts, empathy, determination, vision, passion, spirit and focus on people. With these traits in mind, you can create a plan for success in your business endeavors.