By Scott Vollero
A lot of people dream about starting a successful business. Very few actually take the first steps toward entrepreneurship, however. Of those who do, fewer still have the personality traits to take their ideas to fruition.
“It turns out that successful entrepreneurs have personality traits in common that make them more likely to succeed.”—Scott Vollero
If you're a budding entrepreneur, you may be wondering if you have what it takes.
Here are seven personality traits winning entrepreneurs have or developed. How many do you have?
1. Highly Self-Motivated
Despite rumors to the contrary, there are no overnight successes. To succeed, an entrepreneur has to be highly self-motivated, believe in themselves and are positive their business model is viable. Starting a business and turning it into a profitable company takes time. There will be ups and downs. There will be fits and starts and restarts. Can you remain positive through the bad times? Are you self-motivated enough to keep going no matter what?
2. Strong Leadership Skills
Are you the go-to person at work or at home? Do you like to be the person in charge? Do others come to you for advice? Great leadership skills require a willingness to reach a goal no matter what. Great leaders know the road to their goal may not always be pleasant or easy, but it doesn't matter. They'll get there anyway. Effective leaders are proactive go-getters. They don't sit back and let opportunities fall into their laps. They make them.
3. Creativity, Innovation and Versatility
Successful entrepreneurs have the ability to recognize opportunities and create out-of-the-box innovative solutions. They also have to wear a variety of hats, particularly in the beginning. As an entrepreneur, you'll be responsible not only for pursuing opportunities, selling your service or product and growing your business, but also for answering the phones, paying the bills and ordering supplies. Can you keep creativity alive?
4. Business Knowledge and Skills
To efficiently run your business, you'll have to set up internal systems, processes and procedures to keep track of inventory, invoicing and billing, supply purchases, taxes and other business-related transactions. You'll have to devise filing systems and routines to follow to ensure proper tracking. You'll most likely have to come up with a workable telecommunications system. Setting up an office involves more than throwing a computer on a desk. Do you have the skills to create the proper work environment to efficiently run your business?
5. Big Picture Vision
Entrepreneurs look not only to the here and now, but have a big picture vision of what the future holds. Where do you want to take your business? What do you expect your business to be in five years? It's that future vision that keeps entrepreneurs on the right path. Without a realistic future vision on which to base decisions, there is no direction. A business without a set purpose flounders.
6. Willingness to Fail
The most effective entrepreneurs take risks. They try new things. They carve new paths. They know that not every new attempt will succeed. That's OK. An entrepreneur realizes that making mistakes is an integral part of success. Learning from mistakes and moving forward with new knowledge leads to a greater chance for future achievement.
There's no room for procrastination or indecision when you're an entrepreneur. Entrepreneurs possess the ability to quickly assess a situation and make a decision without hesitation. Opportunities are lost when too much time passes. Are you able to make quick, yet informed decisions? It's what successful entrepreneurs do.
Bio: Scott Vollero is an international entrepreneur and expert in the precious metals and automotive parts recycling industries.