10 Traits That Make a Successful Entrepreneur

You’re sitting in your college dorm and come up with a new way laundry can be done.

You’re at your office desk and come up with a brilliant way to increase productivity with a new tool.

You see a troubled child walking by you on the streets and think of a program to help children like him in your neighborhood.

These scenarios are not atypical of ideas that can be easily acted upon if there is ambition and integrity behind the idea. Unfortunately, most of these ideas quickly become forgotten because you’re “too busy” or don’t know how to raise money or don’t have the time or effort to put into it.

This is what sets an entrepreneur apart from others: they have the passion, desire, devotion and hard work to put into a new business idea. Entrepreneurs are paving the way to disrupt or enhance currently technologies to make today’s economy function more efficiently.

This is not to say that those who do not act on their ideas do not have any of the qualities above, it is to say that entrepreneurs are another breed of business owners who are willing to take a chance and risk on a whimsical idea.

Risk…

That is the big word in everyone’s mind when thinking of entrepreneurship. It is something that most are not brave enough or willing to act upon. Yes, it is a big commitment you take upon yourself when you say, “You know what? Yes, I am going to act on this idea and make it happen!”

I have had the privilege to speak with several entrepreneurs in the Boston area upon joining a recent start up. Most say that initially they deemed their ideas ‘stupid’, ‘miniscule’, ‘unprofitable’ etc, etc. However, they did not just drop the idea. They kept it in their mind, culling over ideas, discussing it with others, until they could convince themselves that this idea was valid and worth a shot.

So…

What are the top ten traits of a successful entrepreneur?

1. Persistence
2. Vision
3. Hard work
4. Social skills
5. Risk taker
6. Passion
7. Time
8. Supporters
9. Money management
10. Ability to admit mistakes

Give or take a few of these, most entrepreneurs have ingrained these values which have allowed them to be outside the box, not just step outside the box, and take a risk on an idea they believe in.

Do you have any traits to add to this list? Know a successful entrepreneur and want to share their story below? Leave your ideas in the comments section below.

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