What makes one entrepreneur more successful than another? That’s the million-dollar question that thousands of entrepreneurs ask every day.
After all, when you’re starting a business, you need to find a way to beat the odds and have a thriving business that lasts.
Countless studies have been done on entrepreneurship and success. It turns out there are common traits that successful entrepreneurs all share.
Keep reading to discover what they are and what it takes to be a successful entrepreneur.
1. Growth vs. Fixed Mindset
Entrepreneurs are naturally optimistic. You have to be to believe that your business is the next big thing in your industry and you’re going to be successful. Otherwise, why bother starting a business at all?
That optimism is sometimes paired with a certain mindset. Researcher Carol Dweck called these mindsets a growth mindset and a fixed mindset.
An entrepreneur with a fixed mindset thinks that talent is a fixed trait and you’re either born with it or you’re not. A person with a growth mindset approaches business and failure as continuous learning opportunities.
It’s those with a growth mindset that are more likely to achieve success in business because they don’t see failure as a reflection of who they are as people. It’s a way to learn and improve.
2. Be a Great Listener
Your main job isn’t to deliver a product or service. It’s actually to listen to your customers, employees, and other stakeholders.
You need to understand not just what people want now, but the emotional need that they’re trying to solve. Your business can give them safety, security, peace of mind, or status.
3. Great Entrepreneurs are Self-Aware
How well do you know yourself? That may seem like an odd question, but it’s important to ask. You have to be well-aware of your strengths and weaknesses.
When you know what your weaknesses are, you can improve those skills or hire people that are better at that particular skillset.
4. Always Seek to Learn
The internet is a wonderful place because you can learn about any topic. As a business owner, your business is only going to grow as you do.
In other words, your skills and knowledge will cause your business to hit a ceiling. You need to constantly raise that ceiling so your company can grow.
5. Empower Your Staff
The main difference between managers and leaders is that leaders trust their employees to make the best decision they can.
They may not always get it right but having that kind of empowerment sends a message. It says to your employees that they’re valued, and they are capable.
Managers, on the other hand, may scrutinize decisions or need to have final approval of every single thing.
Be a leader. Your employees will reward you for it.
Become a Successful Entrepreneur
It takes courage and belief to become an entrepreneur. You have to position yourself well to be a successful entrepreneur.
You want to have a way to listen to and empower your staff. You also have to be aware of your strengths and weaknesses.
Do you need help becoming a successful entrepreneur? Please feel free to contact me today, and let me know how I can help.