There are many characteristics of successful entrepreneurs. If we discuss them here, it could easily double the number of pages of this post. Thus, to make it simple, I’d like to highlight the four most important ones –the mind, the eyes, the heart, and the hands.
1. The Mind
“Unwavering Optimism and Perseverance”
Optimism and perseverance often make the difference between a successful entrepreneur and a failed one. In business, it doesn’t matter how many times you fail, because you only need to be right once.
So you need to push through despite all the obstacles that are blocking your way. Most of the time, these hindrances are just tests of how badly you really want something. Most successful entrepreneurs didn’t just triumph after one try. They experienced a series of failures but they never gave up. They see failure as a component of success and an opportunity to start all over again. They believe that if there is a will, there’s a way.
In an article published in the Harvard Business Review, researchers from Lund University in Sweden, found that “In simple terms, our results suggest that entrepreneurs view the future as bright—but they are actually right. Our evidence thereby challenges the prevailing argument that entrepreneurs are irrational in how they form their beliefs about the future. Rather, it is non-entrepreneurs who are more irrational, because their beliefs are overly pessimistic.”
Entrepreneurs are very clear on what they want to get accomplished long-term. It may seem like they are doing things at random, but they are not. They know exactly how it will fit together in the end.
Once they set their eyes on the goal, it’s very hard to distract them from achieving it. They become focused and single-minded on what they want. They captivate the imagination of everyone when they share this vision. As a result, they are able to get the commitment and support of employees and business partners because of this clear vision of the future.
Successful entrepreneurs have contagious passion about what they are doing. In fact, they can talk for hours non-stop about their business and their energy level will never wane. It is through this passion that the entrepreneur gets all his energy and determination to succeed.
To get this passion, entrepreneurs don’t just choose random business ideas to pursue. They pursue businesses that they have a lot of interest in, something that they love and want to share with other people. Their passion overflows and becomes contagious.
Entrepreneurs are masters of execution. They execute and deliver fast, and avoid falling into the trap of over-analyzing things. In fact, they think that everything is an experiment so they test their assumptions and revise their plans accordingly.
Most entrepreneurs take calculated risks, not blind risks. Entrepreneurs understand that nothing great will happen if you don’t take risks and take action. Entrepreneurs believe that there is always uncertainty and a possibility of failure in any situation so this never fazes them to take action.
Recent developments in the Lean Start-up Strategy underscores the importance of releasing “just good enough product” and not wait for it to be perfect because there’s always a version 2.0. This way, entrepreneurs can test the business already without spending too much time and money.
I’m interested to know your thoughts. What do you think?