10 Characteristics Of Successful Entrepreneurs

The underlying key factors in all entrepreneurs

Francesco Joseph
Feb 14 · 6 min read

Entrepreneurs; What are they? What makes them tick? They are a different breed from most people, some say they eat, drink, and breath success. Some say they were born great or achieved greatness, others say they had greatness thrust upon them.

Photo by Razvan Chisu on Unsplash

They live in their own worlds, distant from our own. They inspire and lead the way toward a different future. Although unique and different, they also share common characteristics in their DNA that exhibit the qualities of success.

Here are some of the dominant characteristics found in all great entrepreneurs and how you can use them to your advantage.

1) Creative Visionaries

They’re creative, where others see obstacles they see opportunities. They think outside of the box into another dimension as vast as space and as timeless as infinity. They know how to bring their visions into a reality.

“In the end, a vision without the ability to execute it is probably a hallucination.” — Steve Case, co-founder AOL

They spend a lot of time in their heads. When Steve Jobs said he was going to put thousands of songs in our pockets people thought he was crazy, computers were too big to do that. Apple had a lot to learn in the 70s when computers were in their infancy. Jobs envisioned what computers could do and how we can use them to communicate with each other.

2) Book-Worm

They always love to read and learn new things. Knowledge is power and it’s only by reading that they can get such power. Bill Gates reads everything from encyclopedias to science fiction to business and trade.

He makes it an unwritten rule to be 3 times better educated than most people in the room. Reading on all topics creates confidence in being comfortable in whatever endeavor you seek to invest in.

3) Competitive

Entrepreneurs are very competitive in their business when there is a product or service, they ask themselves how can I give myself the edge and provide more of this product or services at a better deal than anyone else. If there’s one thing Trump knows it’s competition, “I’m the first to admit that I am very competitive and that I’ll do nearly anything within legal bounds to win. Sometimes, part of making a deal is denigrating your competition.”

4) Deal-Makers

They know how to negotiate in a way without compromise that benefits both sides, deal-making and entrepreneurship are two terms synonymous with each other, as much as chocolate is synonymous with peanut butter.

Even former President Donald Trump knows this, in his book “The Art Of The Deal” he explains how to make a deal, you need to be flexible because you can’t always get everything you want you should compromise to get at least something.

On flexibility, Trump states, “I never get too attached to one deal or one approach. For starters, I keep a lot of balls in the air, because most deals fall out, no matter how promising they seem at first.”

5) Exaggerators

People may be surprised but entrepreneurs are a bit of an exaggerator as they have to convince others to buy their ideas. This is not done by manipulation, but by believing in what they are doing is right. They exaggerate to grab people’s attention, make things interesting and be dramatic.

Trump says “People want to believe that something is the biggest and the greatest and the most spectacular. I call it truthful hyperbole. It’s an innocent form of exaggeration and a very effective form of promotion.”

6) Networkers

Nobody does it alone although you may be alone doesn’t mean you are. Having the ability to work with others and recognize valuable partnerships is an important trait in entrepreneurs.

To improve networking skills you should build genuine relationships with others while also keeping in mind the goal is business. If you meet someone that could benefit from another person in your network then connect them. It’s all about connections the more you have, the more success you’ll have. Networking with new people brings new ideas and new options that your old self will have never thought of.

“The fastest way to change yourself is to hang out with people who are already the way you want to be.” — Reid Hoffman, co-founder LinkedIn

7) Technological

They believe in using technology because it’s synonymous with progress. They will look for ways to invest their time and money into new innovative technologies that can help them with their business.

Bill Gates knew this by investing in Microsoft and Mark Zuckerberg knew this when starting Facebook. This isn’t limited to computer programing, but manufacturing products as well, Jeff Bezos took advantage of the internet for his company Amazon to act as a distributor for people around the world.

8) Optimist

Entrepreneurs are contagiously optimistic. Their optimism is powerful and persuasive for those around them. They are not to waver by any obstacles and always see the positive side of any situation. They have a clear goal in place and will find a way to reach it. Optimists encourage creativity, technological advancements, and taking risks.

9) Risk-taking

Just because no one else has done it before doesn’t mean you shouldn’t. There’s a first time for everything, an entrepreneur knows this and will be the first to do it. They believe in themselves indefinitely. Risk-taking is one of most the hardest characteristics for an entrepreneur because it means overcoming fear, doubt, low self-esteem, and going against the crowd.

“When I’m old and dying, I plan to look back on my life and say ‘wow, that was an adventure,’ not ‘wow, I sure felt safe.’” — Tom Preston-Werner, co-founder Github

They are risk-takers because sitting in a corner is boring. They would rather live 1 Year climbing mountains reaching new heights than 100 years sitting on the couch.

10) Failures

one of the reasons they are so successful is their ability to fail. They can learn from these failures and distinguish the difference between failure and success. Worse than failing is not even trying.

“I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.” -Jeff Bezos, founder and CEO Amazon

In the mid-’70s, the company Traf-O-Data was created to organize data and help computer engineers create reports. It was a great idea with potential, but the owners went out of business because they neglected to do market research.

With the knowledge they had from their previous failure, their next computer company had a net worth of over a billion dollars, they called it Microsoft. In case you were wondering who these owners were they went by the names Bill Gates and Paul Allen.

Source: Unsplash

Entrepreneurs, to this day their origins are unknown. Some say they come from a family tree, grown in a plane of a higher dimension where the fruits of that heritage ripen to mature to a level anywhere between Zen Master and God.

There may be only one Bill Gates out there, but there is always the opportunity to have another “Bill Gates” come out of nowhere with new ideas, new visions, and innovations for the future. What these Bill Gatesses of the world all have in common are the traits that they embody for success.

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