Expert Insights: 20+ Entrepreneurs Reveal the Traits That Drive Success
In this article, we’ve interviewed over 20 successful business owners to gain insight into what traits they believe are most important for entrepreneurial success. From determination and resilience to adaptability and vision, these entrepreneurs share their personal experiences and perspectives on what it takes to achieve success in the business world. Whether you’re an aspiring entrepreneur or a seasoned business professional, their insights are sure to provide valuable lessons and inspiration. Read on to learn more about the traits that make a successful entrepreneur, as told by those who have achieved it firsthand.
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Cary Goldstein
Title: Dentist/Owner
Company: Goldstein Dental Center
Linkedin:
Having strong communication skills is essential for any successful entrepreneur. This includes verbal and written communication skills, as well as the ability to clearly and effectively communicate your ideas and goals with others. As an entrepreneur, it is your job to effectively communicate with all stakeholders, from employees to investors to customers. Good communication is essential for building relationships and getting your business off the ground.
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Cara Houser
Title: Founder + Entrepreneur
Company: Cara Houser
Linkedin: https://www.linkedin.com/in/caraehouser/
Entrepreneurship is exciting, challenging, sometimes isolating, and always filled with uncertainty and change.
To be successful in any field, one must have the skills and resources to deal effectively with these realities. In my experience in real estate development and in coaching / speaking / business strategy, I’ve found the following to be essential. The great news is that these can all be learned!
1) Resourcefulness + creativity and imagination in problem solving: doing so creatively is the #1 skill of a successful entrepreneur.
2) Initiative: no one is coming to save you or give you direction, and there’s no one to blame when things don’t go as planned. Figure out what needs doing next, and get going on it.
3) Ability to form strong trust-based networks / relationships: trust is the basis of ANY kind of relationship, including business connections.
4) Resilience: you’ll get knocked down — just keep dusting yourself off, evaluating what you can learn, releasing the rest, and keeping going is essential.
5) Purpose-driven leadership: Why are you doing what you are doing? If you know your deeper “why” and what inner values are driving your thoughts, choices, and actions, each day has purpose, clarity, and joy.
6) Persuasiveness / connection / communication with ease with wide variety of people from various backgrounds and with varying perspectives: Entrepreneurs offer products or services that help people solve their problems. Being able to connect with potential clients, understand their needs, and tailor your services accordingly is key to having a successful business (and not just an expensive hobby!)
7) Self-belief and faith to stick it out and keep learning and iterating along the way: businesses take time to grow — sometimes years, and we need to maintain faith in ourselves and our purpose.
8) Flexibility, adaptability, growth mindset: last but definitely not least — all of the above don’t work if you are stuck trying the same things over and over, even when they are not working as hoped. Life is one big iteration and exploration, as is entrepreneurship. May as well enjoy the process! We can always learn and grow, and can even learn to cultivate a growth mindset. Carol Dweck’s book Mindset is essential reading for this.
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Matan Shmoueli
Title: Founding Partner
Company: Virtail
Linkedin: https://www.linkedin.com/in/matan-shmoueli-5bb69663/
Two of the strongest character traits that every entrepreneur must have are leadership skills and compassion. Not everyone needs to be born with these traits — but they must have the willingness to work and develop them in order to be a successful entrepreneur.
Entrepreneurs should be capable of leading by example while having enough compassion to build trustworthy relationships with the team. That’s because no business can run on its own — it’s the people who make an entrepreneurial venture, and in turn an entrepreneur a success.
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Marc Mason
Title: CEO
Company: RCL Mechanical
The most important trait for successful entrepreneurs is leadership. Employees want to be led by good leaders. A good leader provides consistency and direction for their team. One of the core values for my team is leadership through action. “To act in a way that shows others how to act. To lead by example.” Not only do I expect this for myself, but we instill it in our employees. With being a leader, you should always have open communication, honesty, and a positive attitude no matter what is going on. As a leader, people look to you. If they sense stress, they will be stressed. If they sense fear, they will feel fear. When employees look to a leader they want to feel confident that they will be led in the right direction. Leadership doesn’t just flow from top to bottom, it flows from both directions. In a leadership role, you are not only leading people but you should also be encouraging people to grow and become leaders themselves.
Motivation is also important because starting a business isn’t easy. You’re going to have obstacles that come your way and slow you down. You can’t let that stop you from achieving your goals. You need to stay positive and be solution oriented. Another key component with motivation is personal development. You can always learn and grow so providing yourself with opportunities to do so is crucial. You should always surround yourself with people who are also motivated and want to see you succeed. Another important aspect of motivation is the idea that smaller goals will add up to achieve the bigger goals. Staying consistent and pushing yourself with smaller goals will add up over time.
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Evan Skylar
Title: CEO, Founder
Company: Techi Device
Linkedin: https://www.linkedin.com/in/evanskylars/
Good interaction with employees:
As vital as establishing and maintaining strong connections with your clients is to become a successful entrepreneur, it is just as essential to establish and maintain excellent relationships with your employees. Your workers have contributed to making your company what it is today. Their productivity might swiftly decline if they see a mismatch between themselves and management. To foster a healthy working environment, you must recognize that your employees are more than simply employees; rather than simply cogs in a machine, they are also people. They should be praised and rewarded when they accomplish something remarkable for the firm.
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Jimmy Huh
Title: CEO
Company: JH SEO
Linkedin:
Self-confidence is an important trait for entrepreneurs because it allows you to believe in yourself and your abilities. Self-confidence will also help you to make decisions and take risks when needed. The ability to trust one’s own judgment and make decisions based on sound data is essential for any business venture. A successful entrepreneur must be able to remain calm in difficult situations, take calculated risks and have the courage to move forward in the face of uncertainty.
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Dakota McDaniels
Title: Chief Product Officer
Company: Pluto
Linkedin: https://www.linkedin.com/in/dakota-mcdaniels
Resourcefulness, Ambition, Tenacity
Successful entrepreneurs set themselves apart from others with their resourcefulness and sharp attention to detail. These professionals are proficient at observing other successful leaders to add to their perspectives and business acumen. They gather as much insight as they can to improve their skills and strategies. They ask the right questions to find answers to pressing questions and find ways to educate themselves on areas they’re not proficient in. Successful entrepreneurs are eager to learn, listen to advice, and are ambitious, tenacious, and extremely resourceful.
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Joyce Kahng
Title: Dentist
Company: Joyce The Dentist
Linkedin:
Organization is one of the most important traits of a successful entrepreneur. Being organized will help you to stay on top of tasks and keep your business running smoothly. Having the ability to effectively manage tasks, resources and people is critical. Being able to prioritize tasks, manage time and stay focused on the big picture are all essential components of successful entrepreneurship.
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Ryan Stewman
Title: Founder
Company: Hardcore Closer
Linkedin: https://www.linkedin.com/in/ryanstewman/
Most of us want to be rich and successful immediately, if not sooner. Instant success is not a blessing, it’s a curse. When you work for it over long periods of time, you appreciate it and manage it differently. I’ve spent the last 19 years of my life reading books, attending events, and being mentored by some of the most successful people I could find. We all have a few things in common that made it possible to get where we are. Lemme give you the gift of what those few things are.
First, you gotta have faith. Not just faith in God, but faith in yourself. Faith that you can do it, faith that you can endure the pain, faith that you can be uncomfortable, faith that you won’t quit no matter what. It’s ok to have fear too, but you must lean on faith more than fear. Second up, you gotta be committed. When you are chasing success, there won’t be a single day that goes by that the Force of Average doesn’t tempt you to quit. You’ll find every reason to quit and excuses will flow to you like a river. But you gotta stay committed no matter how much you want to quit. Every day you gotta decide for one more day. No matter what comes your way, you must refuse to quit. Third up you need consistency. Consistency leads to familiarity. The more you do, the more people know what you do. The more people know, the more people can buy and send referrals.
Success doesn’t come in one viral video. It comes in 3,000 regular videos. Success doesn’t come in one random lump sum, it comes compounded over time due to consistent work. In my experience, if you can master the mental game around these three traits, you’ll find success in due time. Faith + Commitment + Consistency = Success.
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Brian Will
Title: CEO
Company: Brian Will Media
Linkedin: https://www.linkedin.com/in/brian-will-07823b6/
Success in Business is more of a mindset than a skillset. If you have never run a business, then you don’t know what you are doing. You need to bring in a mentor or a coach to help you. Tim Cook of Apple Computer has a board of Directors. If Tim Cook needs advice what makes you think you don’t?
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Sherrill Mosee
Title: Founder and creator
Company: MinkeeBlue
Becoming a successful entrepreneur has little to do with your education, economic status, or the color of your skin. It has everything to do with your personality, who you are at the deep core of your being. The shaping of your personality undoubtedly starts as a child. Whether you had a rough upbringing with no role models or had parents who instilled in you a business mindset. Both scenarios can shape you to become a successful entrepreneur. Success in anything we do starts with believing in ourselves. We must have faith that whatever it is we’re starting, will be successful. Confidence is a must. Not everyone is cut out to be an entrepreneur. People give up too easily when things don’t happen in a certain time frame or when things get too difficult to handle. Of course, there will be times when you doubt yourself and want to give up, so patience is a must. People who are patient, really enjoy and believe in their product. Being passionate about business helps us to be patient. I’d like to say, passion sprinkled with a little obsession. We also must be flexible, and willing to make adjustments in the business. Growing a successful business is never a straight line, there a many twists and turns, ups and downs, challenges, and obstacles along the way. Oftentimes, we focus on the failures and not the successes that have got us to where we are today. We should always stop and celebrate the wins, small and big. These accomplishments are our motivators to keep us going. Growing a successful business takes grit, perseverance, and determination. It’s never a one-woman show, it evolves other people; mentors, peers, and team support. Believe in your abilities to build something great!
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Will Yang
Title: Head of Growth
Company: Instrumentl
Linkedin: https://www.linkedin.com/in/willcyang/
Starting your own business during a difficult economy is a huge risk that is both challenging and rewarding. Most entrepreneurs would say that in this fast-paced world, it takes a lot more than guts to be a successful entrepreneur as it requires a unique set of skills and characteristics.
Here are some of the most important traits that make a successful entrepreneur:
Adaptability and flexibility. With all the changes happening in different industries, an entrepreneur has to be agile enough to keep up without faltering.
Digital skills. Having digital skills to build an online presence for a business increases its success rate exponentially.
Determination and resilience. Learning how to persist through inevitable setbacks and failures by finding new ways to solve them is a crucial trait for an entrepreneur.
Strong leadership and decision-making skills. Being a decisive leader is essential for entrepreneurs to save valuable resources such as time and money.
Passion. Passion is what drives an entrepreneur to stay motivated and continuously improve themselves to stay relevant in their industry.
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Cindi Thompson
Title: Founder and Owner
Company: Crafted Kitchen
Linkedin: https://www.linkedin.com/in/cindi-thompson-0a4a8316/
From my own experience along with my observations of my small food business clients, there are three primary traits that contribute to the making of a successful entrepreneur.
The first is having a passion for innovation and a natural curiosity of the marketplace. Together, this forms the basis for the building of a truly remarkable product or service.
Second, all successful entrepreneurs have demonstrated leadership skills. Leadership skills can be broken down into smaller bites that include decisiveness, integrity and accountability. These qualities are the basis for building trust: from your customers, your team and your investors. The balance of decisiveness and accountability are evidenced by the ability to recognize one’s mistakes, take ownership, course correct and integrate the lessons learned, all while maintaining belief in the core mission.
With all of this under our belts, risk tolerance and persistence are essential. All businesses experience ups and downs. To navigate the inevitable obstacles, the resilient entrepreneur embraces change, takes the “long view” and is prepared for the possibility of failure.
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Paige Arnof-Fenn
Title: Founder & CEO
Company: Mavens & Moguls
Linkedin: https://www.linkedin.com/in/paigearnoffenn
Successful entrepreneurs today are adaptable/agile, are strong communicators and have a growth mindset. They are persistent, determined, focused and resilient. Those are the traits that make the biggest difference between success and failure I think because the road is always bumpy and you know you will have to overcome obstacles along the way, you get knocked around often so you have to be able to keep getting back up and trying again with enthusiasm and energy. A lot of people tell you no (investors, board, customers, candidates, etc.) so if you are easily daunted or do not have thick skin you will not last long in my experience. A good sense of humor goes a long way too in the digital age.
They are also inclusive, collaborative and build trusted relationships to drive the business leveraging technology to support them to build real world communities and relationships too. These traits are also important for crisis management along with remaining calm/clear headed/in control so that you can get through ongoing setbacks and curve balls as creatively and quickly as possible. Being able to adapt to change is critical so staying nimble today is core to survival and ultimately success.
They never stop learning/experimenting, are focused on the future and see opportunities ahead by embracing a culture of learning/growth. It takes effort and a commitment to excellence for people to continually learn/grow especially now in a virtual/remote environment. I do not think there is one trait to stay sharp/fresh, I recommend using a combination of reading/learning online and off/attending conferences/talks, networking/newsletters from influencers/TED talks/podcasts/finding mentors/ listening to all feedback good and bad. To stay relevant/keep growing I also try to prioritize professional development to keep skills fresh and stay on top of new trends/technologies.
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Claire Bahn
Title: CEO/Founder
Company: Claire Bahn Group
Linkedin: https://www.linkedin.com/in/clairebahn/
There are a few traits that I consistently see in successful entrepreneurs across all industries. First, a successful entrepreneur knows how to fail. When something doesn’t go as planned, they diagnose what went wrong and rework the process to eliminate that weakness from their system. This leads to pivoting. A successful entrepreneur knows that pivoting is necessary for a company to grow and continue to stay relevant in a rapidly changing world. If an idea doesn’t take off the first time, it doesn’t mean the entire concept is bad, it might just need some tweaking. If you believe in what you are doing, you won’t take no for an answer, and you will make adjustments until you have created a successful company with your idea. Lastly, this perpetual cycle of failing and pivoting through business requires a resilient person. You need to recognize that this is the nature of entrepreneurship and is not a reflection of you as an individual. If you can avoid internalizing every up and down of the journey, you will be able to make more objective and educated decisions for your company.
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Tommy Gallagher
Title: CEO & Founder
Company: Top Mobile Banks
Linkedin: https://www.linkedin.com/in/tommy-gallagher-25794a241/
In a world of advancing technology, an entrepreneurial spirit is more important than ever before. Every day, ambitious individuals start their own businesses, creating products and services designed to solve problems. But what qualities do these successful entrepreneurs possess that set them apart from the rest? The traits that make a successful entrepreneur are essential to understand to launch and sustain a venture in today’s competitive market.
Entrepreneurial Drive
One of the most critical traits of an entrepreneur is their drive or ambition to make their business succeed. They often thoughtfully weigh the risks and rewards of a particular endeavor, willing to take calculated risks to achieve success. Entrepreneurs are unafraid of failure, knowing it’s often necessary to move forward. They’re also persistent in pursuing their vision and capable of handling pressure and the responsibility for the business’s success.
Passion
At the heart of any successful venture is passion. Entrepreneurs are passionate about the product or service they’re providing and committed to seeing the idea they’ve envisioned come to fruition. Their enthusiasm often compels them to take on challenging tasks creatively, allowing them to see solutions to seemingly inscrutable problems.
Empathy
Successful entrepreneurs are experts in empathy, identifying and meeting the customer’s needs. They balance their business objectives with the consumer, reaching great lengths to understand their wants and concerns and ensuring their product or service meets their needs.
Leadership
Entrepreneurs must also be able to lead their teams to be successful effectively. Not only must they communicate and motivate their employees, but they must also create a cohesive, supportive team environment. Entrepreneurs must oversee the business’s operations, recognizing and addressing potential problems and leading by example.
Business Savvy
In addition to these qualities, entrepreneurs must also understand the business landscape. They must stay up-to-date on the latest industry trends and be able to discern which solutions will best resolve issues within the company. Strategy and organization are essential to bringing the idea to market, handling employees, and producing quality products or services.
The traits that make a successful entrepreneur are multifaceted and complex. Those with the necessary skills and attributes will be better prepared to launch, grow, and run a business. In today’s evolving world of entrepreneurship, it’s essential to nurture these qualities to succeed.
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Ruben Dua
Title: Founder and CEO
Company: Dubb
Linkedin: https://www.linkedin.com/in/rubendua/
Perseverance;
Being good with money;
Vision;
Leadership;
Relationships;
Risk;
Adaptability;
Creativity.
But here’s the BIGGEST thing. It’s “owning your life”. This means your schedule, your potential, your risk… The best entrepreneurs are the ones who are the most unemployable. Why? Because they have no option but to be successful. I know this because I have failed 10x more times as an employee than a founder of a tech company.
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John Melchior
Title: Owner
Company: Kapture Pest Control
Linkedin: https://www.linkedin.com/in/john-melchior-kapture/
I believe that the most important trait is the ability to start. Almost everyone has had an idea of a business they could start or a side hustle they could pursue. However, the ultimate trait that EVERY successful entrepreneur has in common is that they made the decision to start and actually did it.
Depending on the industry, barriers to entry, start-up costs, and processes, every single business and business owner requires something unique to be successful. Again though, there’s one thing that they all have in common — they would still be dreamers if they hadn’t taken that first step to get started.
I’ve learned that there are a lot of people that want to be entrepreneurs or want to make their dream come to reality, but they get caught up in strategizing, planning, raising funds, talking about ideas or analysis paralysis. Successful entrepreneurs start. They know that every step will meet them with a new challenge and different leadership traits they need to focus on, but once they just get started, they can face those challenges as they come.
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Matthew Paxton
Title: Founder
Company: Hypernia
Linkedin: N?A
Balanced vision and technical proficiency.
Entrepreneurs are responsible for establishing the culture of their companies and teams. Therefore, it is essential that they have an understanding of how the various roles, processes, and systems work together.
Business leaders should make the best-educated decisions and provide helpful counsel while striving to progress. You can’t construct a vision or strategy if you don’t know how all the threads connect. It may also cause team unhappiness, frustration, and attrition.
The work that their followers do must be tied back to the larger objective, but this must be done in a manner that is both realistic and well-informed.
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Sara Shikhman
Title: Managing Partner at Lengea Law
Company: Lengea Law
Linkedin: https://www.linkedin.com/in/sara-shikhman-a509b63
In an ever-changing industry, entrepreneurs must use perseverance in the face of adversity. Most days will not be glamorous or easy, but being able to grind away one day at a time all while keeping the big vision in mind is a key mantra. Additionally, entrepreneurs must have patience more than anything else. “Rome was not built in a day” so there should be no reason to rush into business endeavors. Lastly, entrepreneurs must be perceptive by listening to all coworkers. Some of the best ideas come from clients, and interns, so the willingness to learn from everyone is a game changer.
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Owen Redford
Title: Founder
Company: Things To Do
Linkedin: N/A
Learn from every person in every experience.
Being a business leader means acquiring unending knowledge from both life lessons and experiences. It means you commit yourself to accept new learnings from the people you meet in every circumstance no matter what or who they are.
An effective entrepreneur never underestimates the views and opinions from other people with different beliefs and points of view as this can be a factor that will further help you to improve yourself and leadership and business handling skills for the better.
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Zach Goldstein
Title: CEO
Company: Public Rec
Linkedin: https://www.linkedin.com/in/zach-goldstein-b7002714/
I always say entrepreneurs must be scrappy to handle the various needs and obstacles that come with running a business. A “scrappy” mindset embraces strategic networking, resourcefulness, and workaround strategies to overcome challenges that might stump other leaders.
CEOs are scrappy because we pivot constantly and bend over backward to create opportunities out of obstacles. No wall is too high to climb over or find a way around. If we didn’t embody flexibility and proactive thinking, our businesses would never get as far as we aspire.
Priorities inevitably shift when running a business. The market and customers change variably, which requires entrepreneurs to think on their feet masterfully to always find a way to get ahead.
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Cheryl Einhorn
Title: CEO, Founder
Company: Decisive: AREA Method
Linkedin: https://www.linkedin.com/in/cheryl-strauss-einhorn-57353823/
Clear communication about decision-making. How are decisions made at this company or organization? How and when are stakeholders included in decision-making? Who owns each decision? How does the company/organization evaluate decision success?
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Casey Gottlieb
Title: Founder of Lumaire Agency
Company: Lumaire Agency
Linkedin: www.linkedin.com/in/caseygottlieb
Entrepreneurship requires the ability to immerse yourself in your venture. To be a successful entrepreneur you must have dedication and the desire to pour of yourself fully into your company. Successful entrepreneurs embody self-confidence and trust in themselves because their success or failure cannot be blamed on others. Success requires vision, consistent effort and unwavering confidence in one’s self. While the entrepreneur must be self reliant and independent, the successful entrepreneur must always be cognizant of their role in the world. The successful entrepreneur usually has a guiding motivation beyond the self, the awareness that success requires the ability the properly delegate, to generate enthusiasm, and to make a dent in the world. The successful entrepreneur has an eye towards change. On the smallest scale, the entrepreneur always serves the role of a change agent. They aspire make positive change directly for their clients and customers. And on a larger scale the successful entrepreneur often sees success as a destination from where they can give back more impact fully once they reach their immediate goals. The successful entrepreneur demonstrates “trust in yourself” to improve the world from the smallest to largest scale.
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Logan Nguyen
Title: Co-founder
Company: MIDSS
Linkedin: https://www.linkedin.com/in/jenniemillerofficial
A strong dislike for the status quo. (the ability to see things as they are rather than as they are).
This is what keeps you going. The people who work as an entrepreneur do not do so simply because they like the idea of being successful. They do it because they can’t bear the thought of not creating and stewarding something important to them. I enjoy tinkering and experimenting. You must constantly be creating. Entrepreneurs must have perseverance, a willingness to fail, and an openness to new experiences.
People skills.
Entrepreneurs solve problems. If you want to solve big problems, you will have to collaborate with others. You may not get along with everyone, and you may not be the most popular person in the room, but you must be able to motivate yourself, challenge and inspire others.
A thirst for knowledge.
This, I believe, is the most important of all because it influences almost everything else. A characteristic shared by all entrepreneurs. They do a lot of reading and a lot of research. They are always learning. The more you learn, the more opportunities you will see.
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Frank Fawzi
Title: President & CEO
Company: IntelePeer
Linkedin: https://www.linkedin.com/in/frankfawzi/
Becoming a successful entrepreneur begins with communication. As a leader, you have to sell an idea to investors while coalescing employees around the company’s mission and vision. Additionally, when the unexpected happens, leaders have to be flexible. The ability to quickly adapt to the twists and turns of entrepreneurship and business operations is critical in fostering confidence. Leaders can position the company for long-term success by looking at how the world of the human mind and the future of business collide. By looking at the bigger picture, leaders have the upper hand in evolving their business ahead of the curve.
Frank Fawzi, President & CEO of IntelePeer
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Jeff Charlton
Title: Owner
Company: Graphic Connections Group
Linkedin: https://www.linkedin.com/in/jeff-charlton-34a8a17/
1. Exercise honesty and integrity at all times. Never lie or exaggerate about your product or services. Never make excuses. Own your mistakes. Honesty will always win out in the long run. Very few people do this day after day. If you do it, you will stand out above the competition. I cannot stress this enough. It is THE single most important thing.
2. Be direct. Be honest. Be Fair. Be Consistent
People appreciate a cool head that deals in facts and not emotions. Being fair and consistent in your handling of any issue is a huge asset. Do all you can to stay away from emotions no matter how emotional the players in the situation may get. That cool voice of reason will always help to get to resolution much faster with better outcomes.
3. Know your numbers — do not wait for your accountant to tell you if you are making money.
You need to have a very good understanding of your costs and profits. If you wait for your accountant to tell you if you are making money, you are in trouble. You need to understand your product backward and forward so you can make changes on the fly as the market changes. Take the time to understand money and finances. With today’s technology, there is no reason any business should not be doing their own books using Quickbooks or some sort of accounting software. With this type of software, one click of the mouse will give you profit and loss reports, as well as all sorts of other reports at any given time.
4.Treat your employees as your most important asset.
If you ever want to really make it big, you are going to have to do it through others. Spend as much time finding and developing good people as you spend on your product. Your management team is especially important. Good managers can propel an organization and bad ones can destroy it. People make things happen — even in this day of technology. Don’t ever forget it!
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Elle Kaplan
Title: CEO
Company: LexION Capital
Linkedin: https://www.linkedin.com/company/lexion-capital-management-llc/
A successful entrepreneur must be an efficient project planner. You must know how to plan, supervise, activate and measure projects. And then, simply automate, delegate, and eliminate. Wash and repeat.
First, you need to have a clear perspective of all your tasks and responsibilities. Identify the repetitive tasks and find an app, plugin, or formula to automatize them. In other words, have systems in place that allow you to focus on what’s important.
Next, identify the tasks you should keep doing (because they need high-level decisions or confidential information to perform them) and delegate the rest. Mainly those tasks that don’t get any additional value if you perform them, or tasks that a specialized professional could be doing better.
Finally, define what tasks can be eliminated. Not just because you’ve been performing some tasks all these years mean they’re actually needed.
I prefer this process because it’s simple to follow and very practical. I use it frequently to keep my task list free of clutter and to have more time for myself and my family at the end of the day.
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Zach Ross
Title: Financial Coach and Owner
Company: Ross Personal Finance
Linkedin: https://www.linkedin.com/in/zach-ross-84a457109/
Passion and drive: Successful entrepreneurs are often highly motivated and have a strong desire to turn their ideas into reality. Risk-taking ability: Entrepreneurship often involves taking calculated risks, and successful entrepreneurs are able to weigh the potential risks and rewards of a decision before taking action. Flexibility and adaptability: The ability to pivot and adjust to changes in the market or industry can be crucial for the success of a startup. Strong leadership skills: Entrepreneurs must be able to inspire and lead a team, and to make difficult decisions when necessary. Resilience and perseverance: Starting a business can be a challenging and often frustrating process, and successful entrepreneurs are able to persevere through setbacks and challenges. Strong network: Having a strong network of contacts can be beneficial for entrepreneurs in many ways, such as getting access to funding, resources and mentorship. Creativity: Being able to think outside the box and come up with unique solutions to problems can help entrepreneurs stand out in a crowded market Strong financial management skills: Running a business requires being able to manage finances effectively, making sure that costs are kept under control and revenues are maximized.
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Ryan Niddel
Title: CEO and Founder
Company: Niddel Group
Linkedin: https://www.linkedin.com/in/exitwealthy/
“In order to be a successful entrepreneur, I believe the most important trait is the ability to have unwavering belief in not only yourself, but also in a vision that very few people will be able to see. As people are challenged to see the vision of the future that a successful entrepreneur holds onto and shares with an organization, the entrepreneur must then have a level of self confidence and a self assured nature because it will be natural for people to ridicule what they cannot understand. This happens quite often to successful entrepreneurs.
What’s also important to be a successful entrepreneur is the ability to take a long term vision and turn it into actionable short term movement. It’s fantastic to be able to hold on to a vision of the future but if you can’t enroll, inspire, and encourage the staff that supports you to take incremental steps on a daily, weekly, monthly basis to support that goal, then it’s almost impossible to get there.
It’s also incredibly important for a successful entrepreneur to practice radical candor and extreme accountability. If a successful entrepreneur isn’t able to have direct conversations from an emotionally neutral stance, then it won’t be long before that entrepreneur is standing there solo. Extreme discipline is required for all the times in which it doesn’t make sense to keep going. When your back is against the wall, when the odds are against you, when the chips are down, and when the path isn’t clear, you must proceed anyway. Ultimately to be a successful entrepreneur, you have to be able to make consistent decisions with pieces and parts of information and almost never having the full story.” — Ryan Niddel, CEO of Ryan Niddel Strategies
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Braxton Jarratt
Title: CEO
Company: Cognosos
Linkedin: https://www.linkedin.com/in/bjarratt/
While being an entrepreneur is rewarding and fulfilling, it requires characteristics not found in many other professions. Notably, there are three key qualities every entrepreneur must have to be successful:
Tireless communicator. They avoid misunderstanding by being as clear and concise as possible when delegating tasks and outlining goals. They also interact meaningfully with customers, partners and other relationships to foster more nuanced perspectives.
Appreciate your people. Although it is critical to assemble a team of skilled individuals, it’s equally important to take the time to appreciate their efforts. With burnout and job dissatisfaction increasing, entrepreneurs must frequently recognize and reward their people’s hard work.
Fearless in the face of change. On my second day as CEO of Cognosos, the pandemic forced us to transition indefinitely to remote work. I had to quickly build relationships, learn tools and adopt a new way of working from the isolation of my home. Fear at this moment would mean failure for my team, our customers and the future of the business. In these challenging moments, entrepreneurs need to ask the right questions, get agreement from the best people, and boldly guide their team forward.
Be a Human. As work and life blended more and more over the last couple of years we got used to seeing kids and/or dogs in Zoom meetings and accommodating family and personal needs — and generally getting to know each other more personally than we have before. Acknowledging the fact that work and life are more entwined than ever, and that we are all humans first and employees second, is a new reality that I think is healthy and enjoyable. Showing your human side as a leader is realistic, satisfying and helpful in creating a place people want to be part of.
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Zamir Shukho
Title: CEO & Founder
Company: Vibranium.VC
Linkedin: https://www.linkedin.com/in/zamirshukho/
To be a successful entrepreneur, it’s important to have strong soft skills like negotiation and presentation abilities. They must convince employees to join their company, investors to provide funds for development, and customers that the product is right for them. Additionally, entrepreneurs need good management skills, financial planning capabilities, efficient use of resources, proper human resource planning methods and the ability to get results with minimal expense or time. Lastly they should also possess an open mind which is willing to learn new things in order to succeed.
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Robin Dimond
Title: CEO & Founder
Company: Fifth & Cor
Linkedin: https://www.linkedin.com/in/robin-dimond/
Bold, risk-taker, motivated, and strong — these are just a few of the traits that make a successful entrepreneur. To stand out from the crowd, you can’t be scared to take risks and make bold decisions. Even when times are uncertain, you never know if something will work unless you try. It’s also important that you’re motivated and persistent in everything you do. The reality is, success doesn’t happen overnight. You have to be able to persevere through these challenges. Lastly, you have to be strong in many ways. You need to be a strong leader and communicator. For you and others to be successful, you have to be able to lead your team toward a common goal. Your ability to communicate will be crucial to conveying your vision and creating relationships with partners, investors, and customers.
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Pavel Stepanov
Title: CEO of Virtudesk
Company: Virtudesk
Linkedin: https://www.linkedin.com/in/pavelgstepanov/
Having the right mindset is one of the most important traits that makes a successful entrepreneur. With the many challenges every entrepreneur encounters such as uncertainty and economic downturns, having the right mindset allows you to focus and think positively. Instead of lingering too long on challenging problems, it aids in coming up with solutions.
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Aaron Steffey
Title: Co-Founder and Co-CEO
Company: Propeller Bonds
Linkedin: https://www.linkedin.com/in/aaronsteffey/
As cliche as it sounds, persistence is what differentiates between successful versus unsuccessful entrepreneurs. This resonates with me as I’ve been knocked down in my business pursuits, only to have to get right back up again to pivot and problem-solve. When starting a business, there are a million opportunities to quit along the way. Persistence helps both with personal growth as a leader and the growth of the business. Eventually, after all those initial obstacles, the pieces will start to fall into place.
The ability to take what you know and improve upon it is another trait that helps make entrepreneurs successful. The thoughtful approach of recognizing an area of interest, but also specific pain points that your company can solve within that area, sets business owners up with a good roadmap for their business development. I initially decided to pursue insurtech, because I wanted to build a company from the inside out. By leveraging first-hand experience and knowledge in the insurance industry, our team has been able to develop a platform that keeps the agents’ perspective top of mind, helps us stand out amongst competitors, and attracts key business partners.
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Garrett Dailey
Title: Founder
Company: Aion Enterprises
Linkedin: https://www.linkedin.com/in/gcdailey/
Strangely enough, entrepreneurship is inseparable from personal growth. The market has a way of figuring out exactly what you’re lacking and showing it to you. Unlike your friends, the market will never lie to you. Need to improve your social skills? The market will let you know when you stop getting invited to events. Not good at following up with leads? Say goodbye to your pipeline. Your work isn’t up to snuff? Get ready to hear about it from every client you manage to get. Successful entrepreneurs, then, are the people that can learn to transmute that negative feedback from the market into opportunities to grow. Growth is painful, and failure is nothing if not that. The successful aren’t immune to pain, they just don’t quit when the going gets rough. Out of the dozens of clients I’ve worked with and the hundreds, if not thousands, of entrepreneurs I’ve come into contact with in my career, the thing that separates the best from the rest is simply an insatiable desire to improve and bounce back from adversity. “Qui audet adipiscitur: Who dares, wins.”
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Demos Parneros
Title: Founder
Company: CityPark LLC
Linkedin: https://www.linkedin.com/in/demosparneros/
Innovation — In order to have an entrepreneurial culture that reflects the thoughts and ideology core to the foundational value of the business, a strategic mindset with a knack to spot innovative growth opportunities can be an intangible asset.
Adaptability — Traditional wisdom for startups says new companies must more than anything be adaptable and flexible, and this has never been truer than today. Despite the best-laid plans, business at new companies is almost never what founders expected, and today you have to add huge new uncertainties into the equation: supply-chain issues, the fallout from global inflation, possible lockdowns, the reluctance of companies and consumers to spend, new HR challenges in hiring, and more. To navigate all this, startups must be nimble in every aspect of their business model, from remote and hybrid operations to marketing. Thus going forward, founders, investors, and employees should be constantly asking, “What can/should we do differently?” This is the new normal.
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Celeste Frye
Title: Owner & CEO
Company: Public Works Partners
Linkedin: https://www.linkedin.com/in/celestefrye/
Some traits that make a successful entrepreneur are inborn — but most can be cultivated. My key trait for successful entrepreneurship is belief and a sense of purpose. If you truly believe in the purpose of your business and your product, then you will have an easier time convincing potential customers, investors, and employees of its worth. Purpose also keeps you going when times are tough and you are working hard. A strong sense of purpose is something that I have had all my life, but I believe it was cultivated by my family. A person can also build their purpose.
A second key trait of a successful entrepreneur is the ability to make decisions. I gather as much evidence as possible, I consider options and potential paths, and then I make a decision. Once the decision is made, I stick with it unless strong evidence moves me to change my mind. Operating in ambiguity, staying calm when things are chaotic, and managing and welcoming change all fit within this decisive mindset. I often call the ability to make a decision my super power!
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Marc Mason
Title: CEO
Company: RCL Mechanical
The most important trait for successful entrepreneurs is leadership. Employees want to be led by good leaders. A good leader provides consistency and direction for their team. One of the core values for my team is leadership through action. “To act in a way that shows others how to act. To lead by example.” Not only do I expect this for myself, but we instill it in our employees. With being a leader, you should always have open communication, honesty, and a positive attitude no matter what is going on. As a leader, people look to you. If they sense stress, they will be stressed. If they sense fear, they will feel fear. When employees look to a leader they want to feel confident that they will be led in the right direction. Leadership doesn’t just flow from top to bottom, it flows from both directions. In a leadership role, you are not only leading people but you should also be encouraging people to grow and become leaders themselves.
Motivation is also important because starting a business isn’t easy. You’re going to have obstacles that come your way and slow you down. You can’t let that stop you from achieving your goals. You need to stay positive and be solution oriented. Another key component with motivation is personal development. You can always learn and grow so providing yourself with opportunities to do so is crucial. You should always surround yourself with people who are also motivated and want to see you succeed. Another important aspect of motivation is the idea that smaller goals will add up to achieve the bigger goals. Staying consistent and pushing yourself with smaller goals will add up over time.
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Cara Houser
Title: Founder + Entrepreneur
Company: Cara Houser
Linkedin: https://www.linkedin.com/in/caraehouser/
Entrepreneurship is exciting, challenging, sometimes isolating, and always filled with uncertainty and change.
To be successful in any field, one must have the skills and resources to deal effectively with these realities. In my experience in real estate development and in coaching / speaking / business strategy, I’ve found the following to be essential. The great news is that these can all be learned!
1) Resourcefulness + creativity and imagination in problem solving: doing so creatively is the #1 skill of a successful entrepreneur.
2) Initiative: no one is coming to save you or give you direction, and there’s no one to blame when things don’t go as planned. Figure out what needs doing next, and get going on it.
3) Ability to form strong trust-based networks / relationships: trust is the basis of ANY kind of relationship, including business connections.
4) Resilience: you’ll get knocked down — just keep dusting yourself off, evaluating what you can learn, releasing the rest, and keeping going is essential.
5) Purpose-driven leadership: Why are you doing what you are doing? If you know your deeper “why” and what inner values are driving your thoughts, choices, and actions, each day has purpose, clarity, and joy.
6) Persuasiveness / connection / communication with ease with wide variety of people from various backgrounds and with varying perspectives: Entrepreneurs offer products or services that help people solve their problems. Being able to connect with potential clients, understand their needs, and tailor your services accordingly is key to having a successful business (and not just an expensive hobby!)
7) Self-belief and faith to stick it out and keep learning and iterating along the way: businesses take time to grow — sometimes years, and we need to maintain faith in ourselves and our purpose.
8) Flexibility, adaptability, growth mindset: last but definitely not least — all of the above don’t work if you are stuck trying the same things over and over, even when they are not working as hoped. Life is one big iteration and exploration, as is entrepreneurship. May as well enjoy the process! We can always learn and grow, and can even learn to cultivate a growth mindset. Carol Dweck’s book Mindset is essential reading for this.
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Matan Shmoueli
Title: Founding Partner
Company: Virtail
Linkedin: https://www.linkedin.com/in/matan-shmoueli-5bb69663/
Two of the strongest character traits that every entrepreneur must have are leadership skills and compassion. Not everyone needs to be born with these traits — but they must have the willingness to work and develop them in order to be a successful entrepreneur.
Entrepreneurs should be capable of leading by example while having enough compassion to build trustworthy relationships with the team. That’s because no business can run on its own — it’s the people who make an entrepreneurial venture, and in turn an entrepreneur a success.
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Evan Skylar
Title: CEO, Founder
Company: Techi Device
Linkedin: https://www.linkedin.com/in/evanskylars/
Good interaction with employees:
As vital as establishing and maintaining strong connections with your clients is to become a successful entrepreneur, it is just as essential to establish and maintain excellent relationships with your employees. Your workers have contributed to making your company what it is today. Their productivity might swiftly decline if they see a mismatch between themselves and management. To foster a healthy working environment, you must recognize that your employees are more than simply employees; rather than simply cogs in a machine, they are also people. They should be praised and rewarded when they accomplish something remarkable for the firm.
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Dakota McDaniels
Title: Chief Product Officer
Company: Pluto
Linkedin: https://www.linkedin.com/in/dakota-mcdaniels
Resourcefulness, Ambition, Tenacity
Successful entrepreneurs set themselves apart from others with their resourcefulness and sharp attention to detail. These professionals are proficient at observing other successful leaders to add to their perspectives and business acumen. They gather as much insight as they can to improve their skills and strategies. They ask the right questions to find answers to pressing questions and find ways to educate themselves on areas they’re not proficient in. Successful entrepreneurs are eager to learn, listen to advice, and are ambitious, tenacious, and extremely resourceful.
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Ryan Stewman
Title: Founder
Company: Hardcore Closer
Linkedin: https://www.linkedin.com/in/ryanstewman/
Most of us want to be rich and successful immediately, if not sooner. Instant success is not a blessing, it’s a curse. When you work for it over long periods of time, you appreciate it and manage it differently. I’ve spent the last 19 years of my life reading books, attending events, and being mentored by some of the most successful people I could find. We all have a few things in common that made it possible to get where we are. Lemme give you the gift of what those few things are.
First, you gotta have faith. Not just faith in God, but faith in yourself. Faith that you can do it, faith that you can endure the pain, faith that you can be uncomfortable, faith that you won’t quit no matter what. It’s ok to have fear too, but you must lean on faith more than fear. Second up, you gotta be committed. When you are chasing success, there won’t be a single day that goes by that the Force of Average doesn’t tempt you to quit. You’ll find every reason to quit and excuses will flow to you like a river. But you gotta stay committed no matter how much you want to quit. Every day you gotta decide for one more day. No matter what comes your way, you must refuse to quit. Third up you need consistency. Consistency leads to familiarity. The more you do, the more people know what you do. The more people know, the more people can buy and send referrals.
Success doesn’t come in one viral video. It comes in 3,000 regular videos. Success doesn’t come in one random lump sum, it comes compounded over time due to consistent work. In my experience, if you can master the mental game around these three traits, you’ll find success in due time. Faith + Commitment + Consistency = Success.
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Sherrill Mosee
Title: Founder and creator
Company: MinkeeBlue
Becoming a successful entrepreneur has little to do with your education, economic status, or the color of your skin. It has everything to do with your personality, who you are at the deep core of your being. The shaping of your personality undoubtedly starts as a child. Whether you had a rough upbringing with no role models or had parents who instilled in you a business mindset. Both scenarios can shape you to become a successful entrepreneur. Success in anything we do starts with believing in ourselves. We must have faith that whatever it is we’re starting, will be successful. Confidence is a must. Not everyone is cut out to be an entrepreneur. People give up too easily when things don’t happen in a certain time frame or when things get too difficult to handle. Of course, there will be times when you doubt yourself and want to give up, so patience is a must. People who are patient, really enjoy and believe in their product. Being passionate about business helps us to be patient. I’d like to say, passion sprinkled with a little obsession. We also must be flexible, and willing to make adjustments in the business. Growing a successful business is never a straight line, there a many twists and turns, ups and downs, challenges, and obstacles along the way. Oftentimes, we focus on the failures and not the successes that have got us to where we are today. We should always stop and celebrate the wins, small and big. These accomplishments are our motivators to keep us going. Growing a successful business takes grit, perseverance, and determination. It’s never a one-woman show, it evolves other people; mentors, peers, and team support. Believe in your abilities to build something great!
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Cindi Thompson
Title: Founder and Owner
Company: Crafted Kitchen
Linkedin: https://www.linkedin.com/in/cindi-thompson-0a4a8316/
From my own experience along with my observations of my small food business clients, there are three primary traits that contribute to the making of a successful entrepreneur.
The first is having a passion for innovation and a natural curiosity of the marketplace. Together, this forms the basis for the building of a truly remarkable product or service.
Second, all successful entrepreneurs have demonstrated leadership skills. Leadership skills can be broken down into smaller bites that include decisiveness, integrity and accountability. These qualities are the basis for building trust: from your customers, your team and your investors. The balance of decisiveness and accountability are evidenced by the ability to recognize one’s mistakes, take ownership, course correct and integrate the lessons learned, all while maintaining belief in the core mission.
With all of this under our belts, risk tolerance and persistence are essential. All businesses experience ups and downs. To navigate the inevitable obstacles, the resilient entrepreneur embraces change, takes the “long view” and is prepared for the possibility of failure.
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Claire Bahn
Title: CEO/Founder
Company: Claire Bahn Group
Linkedin: https://www.linkedin.com/in/clairebahn/
There are a few traits that I consistently see in successful entrepreneurs across all industries. First, a successful entrepreneur knows how to fail. When something doesn’t go as planned, they diagnose what went wrong and rework the process to eliminate that weakness from their system. This leads to pivoting. A successful entrepreneur knows that pivoting is necessary for a company to grow and continue to stay relevant in a rapidly changing world. If an idea doesn’t take off the first time, it doesn’t mean the entire concept is bad, it might just need some tweaking. If you believe in what you are doing, you won’t take no for an answer, and you will make adjustments until you have created a successful company with your idea. Lastly, this perpetual cycle of failing and pivoting through business requires a resilient person. You need to recognize that this is the nature of entrepreneurship and is not a reflection of you as an individual. If you can avoid internalizing every up and down of the journey, you will be able to make more objective and educated decisions for your company.
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Ruben Dua
Title: Founder and CEO
Company: Dubb
Linkedin: https://www.linkedin.com/in/rubendua/
Perseverance;
Being good with money;
Vision;
Leadership;
Relationships;
Risk;
Adaptability;
Creativity.
But here’s the BIGGEST thing. It’s “owning your life”. This means your schedule, your potential, your risk… The best entrepreneurs are the ones who are the most unemployable. Why? Because they have no option but to be successful. I know this because I have failed 10x more times as an employee than a founder of a tech company.
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Matthew Paxton
Title: Founder
Company: Hypernia
Linkedin: N?A
Balanced vision and technical proficiency.
Entrepreneurs are responsible for establishing the culture of their companies and teams. Therefore, it is essential that they have an understanding of how the various roles, processes, and systems work together.
Business leaders should make the best-educated decisions and provide helpful counsel while striving to progress. You can’t construct a vision or strategy if you don’t know how all the threads connect. It may also cause team unhappiness, frustration, and attrition.
The work that their followers do must be tied back to the larger objective, but this must be done in a manner that is both realistic and well-informed.
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Owen Redford
Title: Founder
Company: Things To Do
Linkedin: N/A
Learn from every person in every experience.
Being a business leader means acquiring unending knowledge from both life lessons and experiences. It means you commit yourself to accept new learnings from the people you meet in every circumstance no matter what or who they are.
An effective entrepreneur never underestimates the views and opinions from other people with different beliefs and points of view as this can be a factor that will further help you to improve yourself and leadership and business handling skills for the better.
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Cheryl Einhorn
Title: CEO, Founder
Company: Decisive: AREA Method
Linkedin: https://www.linkedin.com/in/cheryl-strauss-einhorn-57353823/
Clear communication about decision-making. How are decisions made at this company or organization? How and when are stakeholders included in decision-making? Who owns each decision? How does the company/organization evaluate decision success?
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Logan Nguyen
Title: Co-founder
Company: MIDSS
Linkedin: https://www.linkedin.com/in/jenniemillerofficial
A strong dislike for the status quo. (the ability to see things as they are rather than as they are).
This is what keeps you going. The people who work as an entrepreneur do not do so simply because they like the idea of being successful. They do it because they can’t bear the thought of not creating and stewarding something important to them. I enjoy tinkering and experimenting. You must constantly be creating. Entrepreneurs must have perseverance, a willingness to fail, and an openness to new experiences.
People skills.
Entrepreneurs solve problems. If you want to solve big problems, you will have to collaborate with others. You may not get along with everyone, and you may not be the most popular person in the room, but you must be able to motivate yourself, challenge and inspire others.
A thirst for knowledge.
This, I believe, is the most important of all because it influences almost everything else. A characteristic shared by all entrepreneurs. They do a lot of reading and a lot of research. They are always learning. The more you learn, the more opportunities you will see.
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Jeff Charlton
Title: Owner
Company: Graphic Connections Group
Linkedin: https://www.linkedin.com/in/jeff-charlton-34a8a17/
1. Exercise honesty and integrity at all times. Never lie or exaggerate about your product or services. Never make excuses. Own your mistakes. Honesty will always win out in the long run. Very few people do this day after day. If you do it, you will stand out above the competition. I cannot stress this enough. It is THE single most important thing.
2. Be direct. Be honest. Be Fair. Be Consistent
People appreciate a cool head that deals in facts and not emotions. Being fair and consistent in your handling of any issue is a huge asset. Do all you can to stay away from emotions no matter how emotional the players in the situation may get. That cool voice of reason will always help to get to resolution much faster with better outcomes.
3. Know your numbers — do not wait for your accountant to tell you if you are making money.
You need to have a very good understanding of your costs and profits. If you wait for your accountant to tell you if you are making money, you are in trouble. You need to understand your product backward and forward so you can make changes on the fly as the market changes. Take the time to understand money and finances. With today’s technology, there is no reason any business should not be doing their own books using Quickbooks or some sort of accounting software. With this type of software, one click of the mouse will give you profit and loss reports, as well as all sorts of other reports at any given time.
4.Treat your employees as your most important asset.
If you ever want to really make it big, you are going to have to do it through others. Spend as much time finding and developing good people as you spend on your product. Your management team is especially important. Good managers can propel an organization and bad ones can destroy it. People make things happen — even in this day of technology. Don’t ever forget it!
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