3 characteristics of a successful entrepreneur

October 29, 2014 6:16 pm Published by Leave your thoughts

One of the key hallmarks of the American dream is starting your own business, becoming a self-employed and successful entrepreneur. There has been no shortage of Americans who have tried their hand at creating startups, some of which have gone on to become success stories and others that…haven't. 

But what separates the achievers from the wannabes? Is it luck or family wealth or timing? Or are there certain personality traits that can make a would-be entrepreneur more predisposed to success than others?

According to John Rampton, a contributor at Entrepreneur.com, here are a few of the most common characteristics that help make for a successful entrepreneur:

  • Early risers: This doesn't necessarily mean that those who are ready to work at 6 a.m. are naturally more successful than night owls. While some find the morning hours simply more productive than the night, as Rampton writes, the biggest obstacle here isn't time but procrastination. The ideal early riser isn't necessarily someone who wakes up at the crack of dawn ready to hit the grind, but rather the entrepreneur that is ready to go as soon as they're up, regardless of when that time is for them.
  • Financially savvy: "There's a big difference between an inventor and an entrepreneur. You need to be money savvy if you want your business or idea to really take off," writes Rampton. "This isn't something that comes naturally to everyone, so you'll either need to brush up on your personal finance and investing skills, get a reputable investor and CPA in your corner — or both. Otherwise, you won't optimize your ideas and hard work into a lucrative business."
  • Follow through: As any viewer of Glengarry Glen Ross knows, "always be closing" is the key mantra for a successful salesperson or business owner. Having big ideas and ambitions make for great starts, but that's all they'll be if you don't follow through on and stick to your commitments. 

When forming your very own start-up, make sure to have an expert small business attorney at your disposal to protect your legal interests.

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