Do You Have an Entrepreneurial Mindset?
What makes entrepreneurs unique is not so much their intellectual brilliance but their unwavering confidence that what they are working on will eventually be successful.
"Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time," said the famous inventor and entrepreneur Thomas Edison.
In my experience, what makes entrepreneurs unique is not so much their intellectual brilliance - many people are very smart - but their unwavering confidence that what they are working on will eventually be successful and change something for the better. And that confidence is so strong that it inspires many others —employees, customers, and investors.
Here are ten traits most entrepreneurs share:
1: Fully Committed
Entrepreneurship is not a side project. It may start as one when entrepreneurs have an idea. As this idea fully occupies their mind, they often cannot think of anything else and will devote every spare minute and every spare dollar to advance their innovation.
2: Visionary
Entrepreneurs have the unique ability to envision how their idea will work in practice, what it will improve, and who will benefit from it.
3: Confident
Entrepreneurs believe in what they are doing. They also believe in themselves and that, in the end, they will succeed in realizing their vision.
4: Passionate
Entrepreneurs show strong feelings about their idea or cause and how it will improve the status quo or make the world a better place.
5: Communicative
The combination of strong vision, high self-confidence, and great passion allows entrepreneurs to effectively communicate their idea internally to employees and externally to customers, business partners, and investors.
6: Positive
Entrepreneurs think positively. For them, obstacles are just challenges to be overcome and not given up on. To quote Thomas Edison: "I have not failed. I've just found 10,000 ways that won't work."
7: Persevering
When you run your own company, encountering setbacks is an inevitable and integral part of entrepreneurship. When setbacks knock you down, entrepreneurs will get up again and try a different way.
"Perseverance is the hard work you do after you get tired of doing the hard work you already did," said Newt Gingrich.
8: Disciplined
It is no secret that entrepreneurs work long hours. But many employees work hard too. What sets entrepreneurs apart is that they are often also very disciplined in getting things done. Great ideas don't produce the desired result until they are put into action, which requires a lot of organizational discipline to make them a reality.
► The One Trait Many Successful Entrepreneurs Share
9: Flexible
In the face of failures and obstacles, entrepreneurs look for ways to overcome them. They study hard, learn new skills, and reach out to experts in adjacent fields. It doesn't matter much how they achieve their goals as long they achieve them. Remember that the most significant inventions were made by chance.
So, follow Thomas Edison's advice: "When you have exhausted all possibilities. Remember this. You haven't."
10: Involved
Entrepreneurship is not a hands-off affair where others do the work, and the entrepreneur gets the credit. It rarely works that way. Successful entrepreneurs are fully involved in daily activities. They drive the project forward, coordinate, and engage with investors and partners.
Don't Give Up
Although every entrepreneur is different, they share many of these traits.
Unfortunately, exhibiting these qualities does not prevent frustrations when progress is slow or failures pile up. Entrepreneurs often also have to deal with impatient investors who want to see results and a return on their investments, adding tremendous pressure. Don't give up!
"Many of life's failures are people who did not realize how close they were to success when they gave up." - Thomas Edison.
