10 Important Personal Characteristics of Entrepreneurs

What are successful entrepreneurship characteristics?

Being an entrepreneur requires much more than just big ideas. A true entrepreneur is a rare breed; it’s someone who possesses a unique cocktail of traits, skills and characteristics that enable them to beat the odds and go after their dreams full throttle. But what are those attributes? What does an entrepreneur need to succeed? While we’d all love an entrepreneur's handbook that tells us whether we have the ‘E Factor’ or not, the truth is that there is no right or wrong answer—there is no discernible formula. But that doesn’t mean to say there aren't a handful of traits we can pinpoint that are specific to entrepreneurs. Here are some of the attributes that, in our experience, successful entrepreneurs tend to possess in abundance.

1. Entrepreneurs are goal-oriented

Entrepreneurs are all about setting goals and putting their all into achieving them; they’re determined to make their business succeed and will remove any encumbrances that may stand in their way. They also tend to be strategic in their game plans and always have a clear idea in mind of exactly what they want to achieve and how they plan to achieve it.

2. Entrepreneurs are committed to their business

Entrepreneurs are not easily defeated; they view failure as an opportunity for future success, and if they don’t succeed the first time, they’ll stay committed to their business and will continue to try and try again until it does succeed. A true entrepreneur doesn’t take ‘no’ for an answer.

3. Entrepreneurs are hands-on

Entrepreneurs are inherently proactive, and know that if something really needs to get done, they should do it themselves. They’re ‘doers’, not thinkers, and tend to have very exacting standards. They view their business as an extension of themselves and like to be integral in its day-to-day operations—even when they don’t have to be.

4. Entrepreneurs thrive on uncertainty

Not only do they thrive on it—they also remain calm throughout it. Sometimes things go wrong in business, but when you’re at the helm of a company and making all the decisions, it’s essential to keep your cool in any given situation. True entrepreneurs know this and secretly flourish and grow in the wake of any challenges.

5. Entrepreneurs continuously look for opportunities to improve

Entrepreneurs realize that every event or situation is a business opportunity, and they’re constantly generating new and innovative ideas. They have the ability to look at everything around them and focus it toward their goals in an effort to improve their business.

6. Entrepreneurs are willing to take risks

A true entrepreneur doesn’t ask questions about whether or not they’ll succeed—they truly believe they will. They exude this confidence in all aspects of life, and as a bi-product, they’re never afraid to take risks due to their unblinding faith that ultimately they will triumph.

7. Entrepreneurs are willing to listen and learn

The most important part of learning is listening—and a good entrepreneur will do this in abundance.

8. Entrepreneurs have great people skills

Entrepreneurs have strong communication skills, and it’s this strength that enables them to effectively sell their product or service to clients and customers. They’re also natural leaders with the ability to motivate, inspire and influence those around them.

9. Entrepreneurs are inherently creative

This is one trait that, due to their very nature, entrepreneurial business people have by the bucket load. They’re able to not only come up with ingenious ideas, but also turn those ideas into profits.

10. Entrepreneurs are passionate and always full of positivity

Passion is perhaps the most important trait of the successful entrepreneur. They genuinely love their job and are willing to put in those extra hours to make their business grow; they get a genuine sense of pleasure from their work that goes way beyond just cash.

Very few people are fortunate enough to be born with all of these characteristics, but the good news is that they can all be learned. Nowadays there are webinars, seminars and books you can sign up for to learn the rules of being a great entrepreneur. So what are you waiting for? Get those entrepreneurial juices flowing!

Hiscox Knows Small Business Growth

Armed with these characteristics and skills, you are now ready to go and start your own business. To help you along the way please check out these additional resources regarding starting a business!

• 5 Affordable Security Tips for Start Ups
• What Does Financial Literacy Month Mean for Small Businesses?
• 3 start-up tips for aspiring small business owners

Plus, if you have any question about getting your business insured and prepared for growth, call us at 1-866-283-7545 and speak with a Hiscox licensed agent, Monday – Friday, 7am – 10pm ET.

Guest bloggers Andrew Patricio and Stefanie Neyland are Small Business Experts at BizLaunch.com.

This post was originally published in 2013, and was updated on 7/26/2018 to provide additional resources for entrepreneurs and small business in their early phases.