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10 traits of successful entrepreneurs

Starting a business can be a difficult venture for many people. There are financial challenges, emotional and mental obstacles and it can be crucial that certain objectives are met. But if a potential business owner has the right attitude, resources and product, he or she can be the owner of a successful and fulfilling business.

According to a recent article in Business Insider, an entrepreneur and an MBA professor says there are some traits that all successful business people exhibit. Whether a business venture is large or small, every owner wants it to be successful. According to the article, if entrepreneurs exhibit the following 10 traits, it is more likely that they will have a flourishing business.

Entrepreneurs that have business savvy and resources can be successful. Specifically, this would include business owners who are:

  • Finally prepared for the costs of starting a business
  • Able to sell their product effectively
  • Decisive in their goals

There is also a need for entrepreneurs to have healthy expectations. This means that they should be:

  • Flexible and can adjust to new information
  • Resilient and able to get up after getting knocked down
  • Balanced in perspective
  • Able to shift between big picture and details

Finally, there are traits that speak to a person's overall outlook. Successful entrepreneurs are:

  • Passionate about their endeavor
  • Self-possessed and confident
  • Fearless and intuitive

According to the article, successful business owners often exhibit most, if not all, of the traits mentioned above. Any business venture can be a frightening, exciting and challenging experience. However, with the right skills and tools, a person can have a strong opportunity to be successful.

Source: Business Insider, "10 Personality Traits Every Successful Entrepreneur Has," Jim Price, Feb 15, 2013

  • Our law firm works with Colorado entrepreneurs who are ready to start a new business. For more information, please visit our page on business formation and planning.

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