Traits for Entrepreneurial Success
"These individuals are risk-takers," said marketing consultant Jennifer Frye, who specializes in working with entrepreneurs and small business owners. "They are willing to fail fast and keep going despite adversity and challenges."
Frye isn't the only one who thinks business owners have a thing or two in common. According to experts who specialize in working with startups and new businesses, here are 10 personality traits that set entrepreneurs apart from the rest of the working crowd.
"Born entrepreneurs don't know how to power down," said Murray, principal and co-founder of Trevi Communications. "They emit a constant hum of ideas, plans, strategies and high-octane energy."
"Whether it is a landscaping business at age 12, or selling magazines door-to-door to fund a school trip, they are persistent in telling you about it and pitching why you need it," Eberhardt said. "They are almost fearless in who they will approach and present their idea, service or product to."
"They come up with novel ways to solve problems that others can't even imagine," Samora said. "Ideas flow and come naturally to them."
"When their world is falling apart, they remain calm, knowing that there is a lesson to be learned." Balfour said. "They are grateful for what has worked… and learn from what has not."
"[Entrepreneurs] think positive [and] don't overthink problems," said Frye. "Instead [they] make wise decisions and always [are] ready to accept change when it happens."
"They see opportunities where others don't," Chamorro-Premuzic said, and they are willing to pursue these opportunities, even when others would hesitate to take the risk.
"Natural entrepreneurs analyze their behavior and are not afraid to admit that they have made a mistake," Digilov said. "They attempt to correct negative behaviors more easily than [non-entrepreneurs]."
"He or she cannot turn off the flow of ideas," Stiennon said. "Every problem is an opportunity to build a business to solve it."
"If you are someone who becomes paralyzed when there are too many moving pieces and too many contingencies, then owning your own business is not right for you," Cafasso said. Entrepreneurs, by contrast, are able to make a decision and act with confidence.
"Our ideas aren't always successful, but the thing that differentiates us is that we don't give up — or give in," Gibbs said. "We just learn from what didn't work, and what did, and start again." Ultimately, she said, entrepreneurs are the last ones standing.
Additional reporting by Chad Brooks. Some source interviews were conducted for a previous version of this article.