Unfortunately, there’s no silver bullet strategy or magical formula to becoming a successful entrepreneur. Every entrepreneur’s professional journey winds differently depending on their wants and experiences. That said, starting entrepreneurs aren’t completely in the dark. Entrepreneur-based podcasts, interviews, and novels abound to provide even the most clueless businessperson with guidelines for professional development. In that spirit, I’ve listed five traits that you should strive to develop if you are gearing for entrepreneurial success.

 

Leadership

The ability to lead people is one of the many traits that successful entrepreneurs and innovators share. Assertiveness is a required facet of leadership – but it shouldn’t comprise the whole of your style. Leaders must also have the ability to assess and tap into the strengths of others. Moreover, all entrepreneurial leaders need to be able to make people realize that their business and long-term visions are worth supporting.

 

Patience

There are some things in business that entrepreneurs need to take the time to wait for. Sure, you can jump into every opportunity that presents itself and chase after every lead that pops up, but there are areas in a business that you can’t just punch through. The ability to sit back and be patient in the depths of financial struggles and business woes separates successful entrepreneurs from the well-intentioned but ill-equipped ones.

 

Problem Solving

Most successful entrepreneurs are innovators: they saw an unfulfilled community need and decided to fill it. Unafraid of making mistakes or failing, these business owners are are problem-solvers who thrive in uncharted territory. Entrepreneurial ventures are intrinsically unpredictable, and in the end, only organized problem-solvers will be able to pull their projects through the early stages of business.  

 

Guts

The sad reality is that the vast majority of great business ideas never progress beyond a would-be entrepreneur’s notebook. As the old axiom goes: decisions are made by those who show up. Being a risk taker is one of the most notable traits of a successful entrepreneur. While most people are comfortable working on the relatively safe salaried grind, successful entrepreneurs aren’t afraid to take the plunge and risk their financial security to pursue their dreams.

 

Strategy

Successful entrepreneurs don’t need to be the best-connected to most-educated person in their field to succeed. They do, however, need to be able to think strategically and plan their business moves well in advance. Launching an effective long-term strategy is vital to any successful venture, especially if you’re only just starting out and lack the financial resources that more experienced entrepreneurs take for granted.

 

If you are missing one or all of these traits, it’s never too late to learn and sharpen them. Remember, successful entrepreneurs aren’t born overnight; they are refined through persistence, time, and trial and error.