A Dozen Characteristics Essential for Entrepreneurs #5

#5) Team Player

Those who go into business for themselves but do not utilize teamwork wind up without the team but still have all the work to get done. They shoulder the whole burden for themselves, and wind up just trading their old job for a new and more demanding one – in an attempt to be self-employed. But the new venture carries greater personal and financial risks. On the other hand, team players know how to succeed by employing the physics of interpersonal synergy and dynamic relationships. One twig can be easily snapped, but a bundle of those small twigs becomes stronger than the sum of its individual parts and can be impossible to bend, much less break. The same goes for businesses, and successful entrepreneurs leverage teamwork to get the heavy lifting done without breaking stride.

The Five Levels of Entrepreneurial Development

Brad Sugars, a world-renowned business author and founder of his own international franchise with nearly 1,000 offices worldwide, identifies five different types or levels of entrepreneurial mindsets, patterns of thinking, and belief systems.

They begin with the basic level of the employee – and an understanding that good employees often evolve into great entrepreneurs but that to become an entrepreneur one has to first adopt a perspective and seek out a role above and beyond that of an employee. 

The employee sets goals mainly to impress others, to avoid confronting fears – including the fear of personal freedom and success – and to conform to a comfort zone rather than pushing to learn more and gain new experiences. 

Because of self-imposed limitations, employees prefer to follow someone else’s game plan, and they lack the desire to become a self-motivated and self-reliant entrepreneur. 

They focus primarily on personal security and their emotional motivation derives from a fear of insecurity and a desire to be within the comfort zone of a secure situation. 

Those who want a greater sense of responsibility and control over their lives and have the confidence to experiment with that possibility often rise up from the ground level of employee status to the first level of entrepreneurship. They do this by becoming self-employed. 

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A Dozen Characteristics Essential for Entrepreneurs #4

#4) Passionate about Learning

Entrepreneurs are often “autodidactic” learners, which means that much of what they know they learned not in a formal classroom setting but instead on their own by seeking out information, asking questions, and doing personal reading and research. They also are quick to learn from their own mistakes, which means they are less prone to keep repeating them due to arrogance, ego, or a blindness to one’s own faults, shortcomings, or errors in judgement. To teach is to learn. And to lead, train, and impart experience to others the entrepreneur is constantly striving to learn more and get better educated. Because of the passion for education, true entrepreneurs surround themselves with people who either know more than they do or know things that are different from what they know. They entertain the views of others and perspectives that may be unlike their own, for instance, in order to be better students of human nature. In this way they continue to enrich themselves with knowledge while also making a concerted effort to grow that knowledge by sharing it with others who are also front row students of life’s valuable and unlimited lessons.

A Dozen Characteristics Essential for Entrepreneurs #3

#3) Able to Communicate

Entrepreneurs recognize that the most important part of any business is the human element. Human resources – whether in the form of clients, employees, or strategic partners – are what makes or breaks a business, and communication is the key to successful relationships with people. The entrepreneur works to hone communication skills, whether those are written, spoken, or non-verbal messages conveyed through body language. And to support communication, he or she will take advantage of all available tools and resources. Those might include foreign language or public speaking classes, computer and telecom technology, search engine optimization or neurolinguistic programming as it relates to sales and marketing, or specialized writing such as that needed for grants, business proposals, mission statements, or policy manuals. Above all, the entrepreneur develops a keen ability to listen and hear what others are trying to say, because the best communicators got that way by first being the best listeners.

A Dozen Characteristics Essential for Entrepreneurs #3

#3) Able to Communicate

Entrepreneurs recognize that the most important part of any business is the human element. Human resources – whether in the form of clients, employees, or strategic partners – are what makes or breaks a business, and communication is the key to successful relationships with people. The entrepreneur works to hone communication skills, whether those are written, spoken, or non-verbal messages conveyed through body language. And to support communication, he or she will take advantage of all available tools and resources. Those might include foreign language or public speaking classes, computer and telecom technology, search engine optimization or neurolinguistic programming as it relates to sales and marketing, or specialized writing such as that needed for grants, business proposals, mission statements, or policy manuals. Above all, the entrepreneur develops a keen ability to listen and hear what others are trying to say, because the best communicators got that way by first being the best listeners.

A Dozen Characteristics Essential for Entrepreneurs #2

#2) Feels a Sense of Ownership

Taking responsibility for getting things done – and doing them with care and attention – means to act like an owner. Rather than viewing a problem as someone else’s, the entrepreneur sees it as his or her own and takes pride in finding a solution, leaving things in better shape then they were before encountering them, and improving upon situations rather than leaving them unattended. While a sense of ownership makes for a stellar employee, the entrepreneur knows that the goal is not to be owned by the enslavement of too much responsibility. Rather than controlling situations in an attempt to possess them, the entrepreneur teaches other people how to take charge. In that way the clever entrepreneur uses individual accountability in the ultimate pursuit of profitability, teamwork, and overall success.

A Dozen Characteristics Essential for Entrepreneurs #1

By examining the five phases or levels of entrepreneurship we gain a better understanding of the fundamentals that distinguish ordinary entrepreneurs from the extraordinary ones. And we begin to notice certain traits that are common to all successful entrepreneurs.

While – quite naturally – individual entrepreneurs have many unique traits that are not common to other entrepreneurs, all entrepreneurs do share a kindred spirit, a certain type of constitution and outlook, and a special drive and willingness. Rather than elaborating on the many differences within this broadly diverse demographic, it is more helpful to look at those aspects of similarity

Here are 12 characteristics that are found within all successful entrepreneurs – and without which most people will fall short of what it takes to succeed in an entrepreneurial enterprise.

#1) Confident 

Confidence is a hallmark of the entrepreneur. Not all of us are born with confidence, but that does not mean we are not capable of it. Many confident women and men gain their sense of self esteem and faith in their ability to greet challenges by acting – even when they lack the confidence – and then gaining strength and belief in themselves by seeing the results and gaining the praise and respect of others. 

Entrepreneurs Tips #9

Finished Beats Perfect

“Don’t wait for everything to be perfect before you make your first step. Dive in and learn as you go!” – Chris Beatty

Entrepreneurs Tips #8

Leaders Lead Through Service to Others

“Don’t be afraid to get your hands dirty and never ignore the reality of your situation. Always be honest with yourself before you criticize others. If you can’t truthfully manage yourself — you don’t have a chance of effectively managing others.” – Jason M. Aubrey

Entrepreneurs Tips #7

Stop Thinking of Your Own Wallet Part II

“Approach your business from a place of service; how can I help my audience be more successful at what they’re doing. Before you write a blog, write a newsletter, shoot a video, present a proposal be still for a moment and ask for the knowledge of what your audience needs from you right now rather than to look for a way to “win someone over.” Come from a place of how to fill someone else’s cup rather than your own. Oh yeah and build a freaking list!” – Susan Garrett 

Entrepreneurs Tips #6

Successful Entrepreneurs Have Mentors, Coaches or Masterminds

“Surround yourself with great mentors. They help when you reach a plateau in your business cycle and can shave years off your business development and growth through advising from their mistakes and successes.” – Thalej Vasishta

Entrepreneurs Tips #5

Stop Thinking of Your Own Wallet 

“Be of service; give value. Rather than thinking “how can I make a living and make money”; think  ”how can I serve and truly add value to people’s lives? How can I make a difference?” This is what Oprah and Deepak Chopra say is their driving mission.” – Rena Hedeman

Entrepreneurs Tips #4

Let Your Passion Drive You 

“Find what you’re truly passionate about and go for it head on.  Your passion driving you on your entrepreneurial journey. And understand there is NO Such THING AS BALANCE when you’re building your empire. There are things entrepreneurs do that others will not.” – Katerina Gasset

Entrepreneurs Tips #3

You Will Fail at Times

“Look forward to failure. This is how you learn to succeed. There is plenty of time to get it right —  so go ahead and just do it — and get it wrong.” – Graham Phoenix

Entrepreneurs Tips #2

Focus, Focus and Focus

“Focus on ONE NICHE! And become the expert guru in that niche with your brand. Don’t get greedy! It’s the reason most quit by spreading themselves too thin.” – George Shepherd

Entrepreneurs Tips #1

The Power of Connections

“Network! Make connections and keep a record on each person you meet. Ask for their advice and help. Keep in touch with them along the way and build your network before you need it! Quality relationships are the keys to the kingdom.” – Clare Dreyer

Tips for Young and Aspiring Entrepreneurs #21

Deliver more than expected.

Google's Larry Page encourages entrepreneurs to deliver more than customers expect. It’s a great way to get noticed in your industry and build a loyal following of advocates.

Tips for Young and Aspiring Entrepreneurs #20

Understand your industry.  

Tony Hsieh, the founder of Zappos, once said, “Don’t play games you don’t understand, even if you see lots of other people making money from them.” Truly understanding your industry is key to having success.

Tips for Young and Aspiring Entrepreneurs #19

Spend wisely. 

When you spend money on your business, be careful to spend it wisely. It’s easy to spend too much on foolish things and run out of capital too soon.

Tips for Young and Aspiring Entrepreneurs #18

Ask for customers’ input. 

Assuming what customers want or need will never lead to success. You must ask them directly, and then carefully listen to what they say.

Tips for Young and Aspiring Entrepreneurs #17

Learn from complaints. 

Bill Gates once said that your most unhappy customers are your greatest source of learning. Let unhappy customers teach you where the holes in your service are.

Tips for Young and Aspiring Entrepreneurs #16

Know your customer. 

Dave Thomas, the founder of Wendy’s, cited knowing your customer as one of his three keys to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need.

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Tips for Young and Aspiring Entrepreneurs #15

Learn from mistakes. 

Many entrepreneurs point to mistakes as being their best teacher. When you learn from your mistakes, you move closer to success -- even though you initially failed.

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Tips for Young and Aspiring Entrepreneurs #14

Know your goals. 

Ryan Allis, co-founder of iContact, pointed out that having the end in mind every day ensures you’re working toward it. Set goals and remind yourself of them each day.

Tips for Young and Aspiring Entrepreneurs #13

Plan for raising capital.

Richard Harroch, a venture capitalist, has this advice for upcoming entrepreneurs: “It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.”

Tips for Young and Aspiring Entrepreneurs #12

Hire character. 

As you build your team, hire for character and values. You can always train someone on skills, but you can’t make someone’s values fit your company after the fact.

Tips for Young and Aspiring Entrepreneurs #11

Build a great team. 

No one succeeds in business alone, and those who try will lose to a great team every time. Build your own great team to bolster your success.

Tips for Young and Aspiring Entrepreneurs #10

Manage energy, not time. 

Your energy limits what you can do with your time, so manage it wisely.

Tips for Young and Aspiring Entrepreneurs #9

Do the time. 

No one succeeds immediately, and everyone was once a beginner. As Steve Jobs wisely noted, “if you look closely, most overnight successes took a long time.” Don’t be afraid to invest time in your company.

Tips for Young and Aspiring Entrepreneurs #8

Take action. 

The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.

Tips for Young and Aspiring Entrepreneurs #7

Face your fears.

Overcoming fear isn’t easy, but it must be done. Arianna Huffington once said that she found fearlessness was like a muscle -- the more she exercised it, the stronger it became.