Four Shared Characteristics of Successful Entrepreneurs

According the reviewed results of 23 research studies, comprehensively entitled, “The Big Five Personality Dimensions and Entrepreneurial Status”, entrepreneurs may possess personality traits and habits quite dissimilar to corporate managers and executives.  Entrepreneurs actually showed even more inclination toward innovation, curiosity, and motivation; while ranking lower in terms of anxious behavior and tension.  While many might associate successful entrepreneurs with a “workaholic”, overachieving, or “Type A” personality, it is often the corporate managers and executives who possess a precise, orderly methodology; whereas entrepreneurs exhibit a stronger propensity for risk, fervor, and idealized planning.

Although business leaders in all capacities require self-discipline, ambition, as well as the organizational and strategic skills necessary for success; entrepreneurs, specifically, share several common characteristics which we will explore further.

1.  Enthusiasm

While money is presumed the driving factor for most entrepreneurial endeavors, it’s been found that very often it is a strong sense of enthusiasm and passion for a service or product which is the true motivating force.  Many entrepreneurs are determined to make some type of difference or impact and are excited by the belief that they may have uncovered or initiated an idea that could positively affect the lives of others, and it is this belief-system which frequently carries them through the financial ups-and-downs of starting a company from scratch.

2.  Persistence

Successful entrepreneurs possess a high threshold for persistently coping with impending unknown circumstances.  Since starting a business from the bottom up can be a long and arduous experience, it takes a strong, tenacious personality to withstand constant unknown variables, especially when the business is still in its early stages.  Taking repeated failures in stride, starting all over again, and never losing sight of the ultimate goal is a must.  Often, dedicated entrepreneurs will turn down lucrative job offers in order to wholly commit themselves to building and sustaining the very business venture they have been visualizing.

3.  Certainty

As most entrepreneurs have encountered those who were doubtful or skeptical of their venture concepts, there must be an intense level of certainly and belief in the product or service on which the business is being built, as well as a healthy sense of confidence in one’s own abilities. Without this unwavering certainty and capacity to tune out the naysayers, the ability to take the risks necessary for the growth of the business would be virtually impossible.

4.  Foresight

Often, the most prevailing — and well-known — entrepreneurs are the ones who possess the capability of seeing a need for a product or service where others previously have not.  Having the foresight or vision to recognize an opportunity for imminent success is a talent unto itself.  Yet, the skill does not end there; the ability to translate this idea into reality by effectively communicating with other business associates is what sets successful entrepreneurs into a class of their own.  Additionally, an entrepreneur must use foresight to properly gauge the market for prospects, both positive and negative, to assure the future and stability of the business.

When it seems the odds are out of favor during difficult times, Jonathan Alpert, a psychotherapist as well as author of “Be Fearless: Change Your Life in 28 Days” says that the entrepreneur can assess a circumstance and know that he or she has some influence over the result.

Fred Coon, CEO

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