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5 Character Traits Needed To Succeed As An Entrepreneur

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We’ve all had amazing ideas at some point in our lives. Ideas that we feel convinced could be the next big thing. We’re qualified, we treat people fairly, and we’re not afraid to put the hours in. But we don’t all make it as business owners. What is it that separates the successful trailblazers from the rest of us?

  1. Putting Yourself First

In business, we continually hear about how we should be customer-focused and value our staff. This, of course, is true. However, what people don’t often talk about is that you also need to prioritise yourself. It’s that idea of putting your oxygen mask on first. It’s not selfish; it’s necessary. If you’re not okay then how can you lead others successfully?

Successful people recognise this and take steps to protect themselves. If you’re feeling run-down or stressed, you’re unlikely to be able to help others, whether they are clients or employees. So it’s important to practice self-care. How you go about this will different for everyone as we all have different needs. Start with the basics such as health and find ways to optimise this through good food and exercise. Your mental wellbeing is important too so you will need to find ways to attend to this.

It’s also important to get your own house in order. If you’re worried about personal finances, it will be difficult to concentrate on running a business. It may even lead you to make ill-advised decisions. It’s worth taking the time to figure out any problem areas and have a backup plan. For short term cash flow, companies like Cash Float offer payday loans. It’s also worth looking into ways to reduce your outgoings to ease some of your burdens. Treat your personal finances as you would treat your business accounts.

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  1. Determination

Starting and running a successful business is not a straight path. Inevitably mistakes are made, and things go wrong. This will happen throughout your career. Dealing with issues as they arise is one thing. Having the fight and determination to continue takes considerable strength of character.

Successful business men and women set objectives and meet them. They mitigate risk to avoid potential threats. When faced with a problem they find ways around it and keep on going. They don’t lose sight of the end goal and keep on working towards that.

  1. Flexibility

We said previously that the road to success is not a straight one. Change is inevitable and to succeed you need to have a tolerance for this. Trends changes, markets change and processes also change. To survive you must accept that things may not turn out exactly as you expected. And you must adapt. The ability to recognise when something isn’t working and change accordingly will allow you to change your model. This takes courage. It’s not easy to divert from your original plan and admit that something isn’t working. Successful people don’t see this as failure. They see it as a stepping stone.

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  1. Resilience

Successful people tend to have a high level of resilience. They are philosophical and don’t take things personally. They also have a higher tolerance for change and instability. This resilience helps them when things don’t go according to plan.

Resilience comes from many areas. If you have a strong support network in your business and personal life, this can help you deal with issues as they occur. Having a strong sense of purpose and belief in your value and self-worth also helps.

Self-esteem also plays a strong role in how well you cope in life. If you have a strong sense of identity and self-belief, you are likely to cope better when things go wrong. This provides the strength and courage that is necessary to continue.

Optimism is also important. A positive outlook and belief in the best in people is an important part of resiliency. You understand that setbacks come and go and that nothing stays the same. You recognise that things can and will get better.

  1. Passion

Entrepreneurs are driven by a desire or passion to succeed. They believe in their product, service or offering and believe it will make a difference. Passion isn’t something that is easy to define. It involves belief and excitement. If you lack interest or enthusiasm in what you’re doing, you’re much less likely to succeed.

This doesn’t mean that business people get up each day and are immediately inspired and enthused. They get tired and feel stress like everyone else. But ultimately, they believe in what they’re doing. This fire and passion drive them forward, even on the bleak days.

Everyone is different, and there is no template to achieving your business goals. However, possessing these five character traits will ensure you have a greater chance at success in your chosen field.

About the author

Endeavour News

Endeavour Magazine (www.littlegatepublishing.com) is dedicated to bringing you relevant, up-to-date news every day that will keep you abreast with the current developments in the industries that interest you.