7 Traits You Need to Be a Successful Entrepreneur

For entrepreneurs, there is no specific formula for success. Many people think that great entrepreneurs are born, not made – that you just can’t help it if you have what it takes or not. But when you take a closer look, you see there is more than just the magic touch. There are specific qualities and traits that increase an entrepreneurs propensity to be successful. Here are seven of them.

People Person
Networking is probably the single most important thing for growing your businesses and being successful. No matter how great your ideas are, they won’t come to fruition without the help of others. Being a people person will get you the support and assistance you need to take your business to the next level. Your ability to make connections is invaluable.

As an entrepreneur, you have a lot of ideas and things to take care of. If you’re disorganized, it’ll be nearly impossible to achieve success. The more organized you are, the better able you are to run your business and maximize your profits. If you aren’t naturally good at organization, you need to learn a system that works for you and implement it as soon as possible.

If you aren’t enthusiastic about your business, why are you doing it? Entrepreneurs have the passion and excitement about their business that is required to preserve through anything and make things happen. There will be bumps in the road, but if you’re invested in your business because you love what you do, you have a much greater chance at success than someone who is lackluster.

Entrepreneurs are successful because they recognize opportunity that others don’t. And more than just recognizing an opportunity, they take it. Successful entrepreneurs think outside the box, and challenges or setbacks become chances to learn or find a better way. Being opportunistic will help you go further faster than others who are closed-minded or slow to jump.

Money Smarts
Let’s face it, if you aren’t good with money, you might have a tough time becoming a successful entrepreneur. Because success is usually measured by how much money you make, it is crucial to have a good understanding of finances, investing, cash flow, and the like. If you’re wise in the decisions you make regarding money, you’ll turn much better profits.

No matter what your business is, you have to know the industry inside and out. It’s not enough to just have a good idea; you have to learn everything you can about that idea and what it involves. Your knowledge and expertise will serve you extremely well in making good business decisions, and your customers will have greater trust in you.

Tech Savvy
Nowadays it is hard to run a successful business without implementing a social media strategy and maintain a website. Too many entrepreneurs leave those things up to someone else. But the more you know about technology, social media, and the like, the better equipped you’ll be to grow your business and use those things to your advantage.

Ben Sharp has been running successful start-ups since college. To make sure his writing is professional grade, he uses the #1 grammar checker on the web. He seeks out new entrepreneur networks for fresh business ideas.

View all contributions by