Lots of people dream about starting their own business, but wonder if entrepreneurship is right for them. Entrepreneurs come from all walks of life and backgrounds, so it can be tricky to nail down any particular formula for success. However, who better to ask them a group of already successful entrepreneurs?
We asked a group of successful entrepreneurs and business owners for their thoughts on the most important qualities for a successful entrepreneur. The answers below are provided by members of BusinessCollective, a virtual mentor-ship program powered by America’s most ambitious young thought leaders, entrepreneurs, executives and small business owners, including the members of FounderSociety.
1. Flexibility
I have found that being flexible has been key to the success of Socialfly. Social media changes every day — while it is important to have plans, we need to adapt to changes in the social media landscape. Also, while we make strategic plans for our business, we need to be adaptable and make quick changes when we realize things are not working.
The most important quality every entrepreneur should have is embracing the fact that they’re human beings. Taking a humanistic approach of transparency, honesty and sympathy with employees, customers and partners will help those relationships flourish.
Any day that you haven’t learned something is a disaster. If you want to evolve and grow your business and staff, the process should also apply to you too. The best business leaders are constantly listening and learning.
There’s a hunger inside an entrepreneur that can only be satisfied by doing what they love to do, are passionate about, or have a drive to accomplish. An entrepreneur is always inspired by the world around them, living and breathing their business. Sometimes being an entrepreneur is running that last six miles of a marathon. Anybody can run 20 miles, but that last six is all heart.
Entrepreneurs need to respect the process and enjoy failure. You need thick skin at times. Don’t fear failure; embrace the experience and learn from the big and the little failures. Respect the process of building a business and sticking your neck out, but never bury your head in the sand when you fail. Get back up and enjoy the learning experience. Don’t wallow too long — get back at it ASAP.
I think the most successful entrepreneurs are those that live, breathe and sleep what they do. They have the hustle, the drive and the creativity to make it work and will stop at nothing to make it happen.
You need the ego to believe you can succeed despite the odds, and the humility to realize that you can’t do it without support, resources, an amazing team, advisors and luck. The best entrepreneurs I’ve met are the most humble, but also most self-confident. It’s the thought that, “No one else is doing this, but since it has to be me, I need all the help I can get.”
The most important quality in a successful entrepreneur is heart and hustle. Anyone can be book smart or learn a traditional skill, but finding someone that has the drive to succeed and will stop at nothing to find success. That heart is the ultimate quality of a true entrepreneur.
