“Great leaders have three things; inner light, inner vision and inner strength.”
― Amit Ray,
Mindfulness Meditation for Corporate Leadership and Management
It takes more than big dreams to succeed in the business world. There are several traits that the best entrepreneurs tend to have in common. How do you measure up when it comes to these key characteristics?
Top Traits For Successful Entrepreneurs
What does it take to be a successful entrepreneur? You’ve got to have drive, ambition, a certain level of charm, wit, and many other things. However, there are some foundational traits that make all of the other building blocks of a good business person fall into place. Let’s take a look at them.
Courage
While many people will list ambition as a major trait for entrepreneurs, courage takes this concept a step further. Ambition refers to the desire for something, such as success, power, or a certain position within a company. Having a desire to succeed is good, but it takes something more to achieve those desires.
Once you’ve acknowledged what you desire in business, you must also have the drive to reach your goals. This is where many business ideas fail. Many people have good ideas but have no motivation to make them any more than just that. Even worse, some begin their journey to becoming entrepreneurs but lack the courage to take the big plunge.
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That is to say, entering into the world of business is no easy thing. It can be frightening to take the necessary steps that require large investments. For example, it takes a lot of money to buy an office or set up a storefront. When your business is in its earliest stages, there is no way to know if that investment will pay off. It takes a lot of courage to make that leap and invest in the future of your business.
Being courageous isn’t about being fearless. It’s about taking chances despite your fears. You may be surprised by how many of the biggest names in business still give themselves a pep talk in the back of a stretch limousine.
Integrity
Making the big decisions in your business is no easy task. However, these things can’t be put off just because they are difficult. The best that you can do is go about your daily life with integrity. That is to say, you must do the right thing for the right reasons.
It’s not enough to do something nice for someone because that will leave them owing you something in the future. This isn’t really helping. It’s actually quite manipulative. Going about your business in this manner may help you in the short term, but it always results in something negative later on.
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Instead, try to develop a way of doing business follows good moral and ethical principles. Be compassionate when your employees, clients, or partners fall upon hard times. However, that doesn’t mean that you have to become a pushover. Learning when and how to do the right thing takes time, but your business will be better for it.
Even the smallest decisions in business depend on your sense of integrity. For example, how would you respond to a major client flying into town for a meeting? Sure, they could drive themselves to your office from the airport.
However, you should take into account the fact that this person has likely come a long way to meet with you. It is only right to make them feel comfortable once they are in your area. Sending an airport shuttle to meet them shows that you care about them as a person, as well as a business interest. Your compassion will be remembered and may even be rewarded later.
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Honesty
This is perhaps the most important trait of all. If you are dishonest in business, you cannot act with integrity. In fact, dishonest entrepreneurs often lack the courage to tell the truth when it comes to the harsh realities of the business world.
For example, not every business decision is a good one. If your company is not turning a profit at the moment, admitting it may make you feel like a failure. It stings a bit to learn that you suddenly can’t afford to travel in the best limousine to every business meeting. However, disguising small setbacks doesn’t fix anything, and can, in fact, make matters worse.
Rather than continuing to operate as usual, it is important to be honest with your employees and business partners. You may have to make changes in production. You may even have to lay off part of your workforce. These are not simple decisions, but very few important business decisions are simple.
Self-Discipline
Although none of these important traits are simple, self-discipline may be the hardest one to learn. This means that you have to be able to make business moves on your own. That is to say that you can’t wait around for someone else to give you direction. As an entrepreneur, it is up to you to decide what needs doing, as well as when it needs to be done.
Long-term planning decisions will often fall on your shoulders. For example, you know that you or your colleagues will need to travel for business sometime. Rather than waiting for your corporate travel dates to sneak up on you, schedule yourself some time to consider your business event transportation options. Knowing the who, when, and where of your employees’ travel needs ahead of time allows you to make better judgments.
When you wait until the last minute, you chance making rushed decisions. This could cause you to make choices without all of the best information in front of you. Self-discipline is the foundation for many skills that entrepreneurs need to succeed, such as time management and other strong leadership skills.
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Reason
This is another trait that ties into many other necessary skills for entrepreneurs. Reason is what allows you to make the right choice from your available options. For example, you may have many business plans before you. Several of them may technically work, but good logic and reasoning skills let you see which ones will be better in the long term.
For example, let’s return to the example of business event transportation. Everyone knows that there is no time to waste in corporate travel. However, short-sighted entrepreneurs may only see the quickest choice as the best choice. As such, they may walk off of the plane and hop into the first available taxi. While this quickly solved the immediate issue, there are better ways to handle this situation.
Successful entrepreneurs are focused on the best decisions for the long-term. These are the ones who take time early on in their business journey to develop a good relationship with an affordable limousine service. By establishing this relationship, these entrepreneurs don’t have to stress when it’s time to travel. They know that there is an airport shuttle waiting for them after the flight. They save time on travel arrangements and never have to pay outrageous cab fares.
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