Being a self employed entrepreneur has it’s ups and downs. It’s not always going to be sitting on the beach drinking mojito’s, or walking the streets of Paris with your supermodel girlfriend/boyfriend, and it most certainly isn’t going to be easy when you start.
Let’s face it; some of us aren’t meant to be entrepreneurs, while it comes so easily to others. And that’s okay! The majority of the population likes knowing that their next paycheck is guaranteed. They like the structure of the 9-5 and off weekends and holidays. They find comfort in the stability and security in their jobs, and there is absolutely nothing wrong with that…
But are you just a wee bit different? Do you look at the 9-5 as some sort of torture chamber, constantly devising an elaborate escape plan to freedom?
Use the List below to see if you have the tell-tale signs of an entrepreneur. Be honest with yourself, and use this guide as a tool to even brush up on some areas you may be lacking in to become the most successful you.
Traits of a Successful Entrepreneur
If you want to be successful, you better be confident. Study the most successful people around you and pay close attention to the way they carry themselves. Observe how they interact with others, how they listen to others and how they treat others with respect. Confidence can be seen a mile away, and the more confident you are in yourself, the more power and trust you receive.
2. Time Management
Being a successful entrepreneur means you respect the cruel nature of time and know how to use it to your benefit. A successful entrepreneur isn’t lounging on the couch binge watching a Simpsons Marathon with Cheeto dust on his face at 2 PM on a Tuesday afternoon. No. He/She is getting things done. The most successful people will tell you they wake up early. Really early. 4 AM kind of early. They make the most of their time, and know how to prioritize their tasks. If you can get something done today, do it today. Break the habit of saying “I’ll do it tomorrow.” Today is the only day that matters.
3. Always Learning
Being a successful entrepreneur doesn’t mean you know it all. Never stop learning and never stop reading. Always read up on the latest news pertaining to your particular industry or niche. Always read up on trends. Always Learn. Do not be the entrepreneur that was successful once, then turned into a dinosaur because you thought you knew it all. Sears. Don’t be Sears.
4. Money Management
We talked about time management, now let’s talk cheddar. Being a successful entrepreneur means you know exactly what your money is doing. You know how much you have, how much is coming in and how much is going out at all times. Having a firm grasp on your cash flow will help determine your risk tolerance and will help prevent failure and upsets when the sales slow down.
Are you tenacious? Are you brave? Can you deal with FAILURE? If not, being an entrepreneur is simply out of the question. Your ability to deal with failure is going to be tested over and over again. You will have failures. You will have tough decisions to make. But if you’re headstrong and have the right attitude, you can make it through anything. Read up on Colonel Sanders and how many times he failed before he finally struck gold with Kentucky Fried Chicken.
One problem to avoid completely is to be pot committed. If you play poker, you know what I’m talking about. Just because you have invested a lot of time, effort and money into something does not mean that you have to keep doing it. If it’s not working, if the idea or product sucks, it sucks. Drop it like a hot potato and move on to your next idea.
Be Persistent, be Bold and Be strong! There’s nothing a better idea can’t fix!
6. Risk Taker
When I say risk taker, I don’t mean going to Vegas and betting your life savings on red. I’m not saying wagering everything you have blindly on an undetermined outcome, I’m not saying be a crazy man with a banana is his hand.
Make educated decisions when it comes to business, money and making deals. Think things through. A good habit to get into is saying “I’ll sleep on it and make my decision in the morning.” This eliminates the possibility of being pressured and rushed into any decision and gives you a good night sleep to think about all the possible outcomes.
If the good outweighs the bad ten-fold, pull the trigger.
7. Excellent Networker
It’s true what the say. It’s not what you know, it’s who you know. This could not be truer in business. Practice networking at parties, social events, and especially online. Does your business have an Instagram account, Twitter account and Facebook Page. Get on it and start meeting people! Get people to recognize your brand and always be available to help others.
8. Problem Solver
This one should be fairly obvious. If you are a successful entrepreneur, you are an expert problem solver. It’s in the job description.
As an entrepreneur, it is your job to identify a problem, need or demand people are having and come up with a solution to fix it.
If you offer a solution to people’s problems, make it affordable and make it known to your target audience, you will be successful.
Being passionate about what you do can make or break your business. You have to really want to be doing what you’re doing. You need to be passionate about your product or service and you have to be totally ecstatic when you help people. The type of passion that keeps you up at night because you’re so excited to knock it out of the park the next morning.
If you start losing your passion, you will start losing your drive and motivation. This happens and it is totally normal. It’s never too late to try something else. Always be passionate about what you’re doing and never stop helping others. It is hard to help others when your heart’s not in it.
A successful entrepreneur has a vision. They see a problem and they think of all the ways to fix it. They become obsessed. And when people say it can’t be done, they aren’t deterred from their goal.
Remember, nothing is impossible. Cell phones were possible a million years ago. Just, nobody thought of it yet.
The old saying of how ‘everything that can be invented, has been invented’ is not at all accurate.
If you have a vision, pursue it. Be tenacious. Be Bold. Be Persistent. Be Passionate! But as soon as you know your cards can’t win, throw them away, and wait for the next hand.
If this describes you in a nutshell, then you may very well be a successful entrepreneur. If not, there’s nothing a little outsourcing can’t fix.
In the meantime, stay focused, stay passionate and be ever successful.
Written by Matthew Wright
the SEH Team
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