Indispensable Traits Of A Successful Entrepreneur

What are the key traits of a successful entrepreneur? Do you have to be a good salesperson? Do you have to be a people person and a good communicator? Shark Tank investor Barbara Corcoran reveals the traits needed to start a successful business.

Starting your own business — many think of it, few do it, and very few succeed. If you have the guts to take a leap of faith and start your own business, I’m sure you’ll find the following insights very helpful.

Do have what it takes to be a great entrepreneur?

3 Essential traits of a successful entrepreneur

According to entrepreneur, author, and Shark Tank investor Barbara Corcoran you need to possess the following three traits to build a successful business:

1. Great entrepreneurs have the ability to take a hit and keep getting up. When great entrepreneurs take a hit, they don’t feel sorry for themselves. They don’t waste a lot of time in the “sad” zone. Instead they get back on their feet looking for the next opportunities around the corner.

“If you by nature can take a hit and are stupid enough to pop back up again and say hit me again, hit me again, hit me again – you’re perfect for an entrepreneur.” – Barbara Corcoran

2. If you’re not such a good student, chances are great you’re going to be a great entrepreneur. Students who’re not good in class tend to be good with people. Early on, they learn how to manipulate and motivate others. According to Corcoran, “all great talents for an entrepreneur”.

3. Every great entrepreneur is a salesman. To get your business off the ground you need to be able to convince others to come around your way of thinking. More importantly, you need to be capable to sell your products and services if you want to start a business.

There are many other qualities required to becoming a great entrepreneur but the three traits mentioned above are “indispensable”. According to Corcoran, if you lack anyone of these ingredients, you won’t succeed building your own company.

Shark Tank Investor Barbara Corcoran Shares

Key Traits Of A Successful Entrepreneur 

Common characteristics and traits of successful entrepreneurs

What about the other traits and characteristics needed to succeed?

The team at Entrepreneur have created a handy infographic highlighting the 25 common characteristics and traits of a successful entrepreneur. They are as follows:

  1. Do what you enjoy.
  2. Take what you do seriously.
  3. Plan everything.
  4. Manage money wisely.
  5. Ask for the sale.
  6. Remember it’s all about the customer.
  7. Become a shameless self-promoter without becoming obnoxious.
  8. Project a positive business image.
  9. Get to know your customers.
  10. Level the playing field with technology.
  11. Build a top-notch business team.
  12. Become known as an expert.
  13. Create a competitive advantage.
  14. Invest in yourself.
  15. Be accessible.
  16. Build a rock-solid reputation.
  17. Sell benefits.
  18. Get involved.
  19. Grab attention.
  20. Master the art of negotiations.
  21. Design your workspace for success.
  22. Get and stay organized.
  23. Take time off.
  24. Limit the number of hats you wear.
  25. Follow-up constantly.

What do you think?

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