Which came first, the chicken or the egg? Are entrepreneurs born or made? The eternal question without answer.
People change, grow and evolve. Entrepreneurship can definitely be taught and improved if this is one’s passion. However, it is also true that people seem to be born with certain traits that create the perfect storm to be a successful entrepreneur.
At Linkilaw, we have spoken with a network of thousands of entrepreneurs. So keep reading to discover what you can work on, or simply to know why entrepreneurship could be your path to follow!
What successful entrepreneurs have in common?
- Growth Mindset
Thomas Edison didn’t develop the light bulb in one day. It took a long, slow process of curiosity, dedication and hard work.
Successful entrepreneurs believe that their skills can be developed through a continuous effort and they work really hard to improve constantly. Meanwhile, people who believe they already have the talent and settle with it, probably won’t go very far.
- Willingness to Fail
Milton Hershey, as an example, dropped out of school in the 4th grade, and launched three unsuccessful candy companies before he ultimately landed on a caramel recipe that was a hit and that paved the way to a multi-million dollar company.
Building a business is not an easy path and failing is part of the journey. Successful entrepreneurs don’t give up when obstacles appear, they find creative solutions and move forward by learning from this experience.
However, it’s important to note this persistence is really good to success but is really close to stubbornness. It is also necessary to know when to let it go and stop pursuing a doomed idea.
As Steve Jobs once said: “people with passion can change the world”.
Believe in your idea and build a business against all odds. Be the most passionate person in the business to bring this idea live. This passion is contagious and is what motivates your employees, investors and partners to believe and work for this idea too.
- Stay curious
Nokia’s failure is known because it was a renowned mobile manufacturing company that by refusing to upgrade its’ mobiles to Android platform, faced a downfall and was outraced in the mobile industry.
Keep trying new things, learn more and more about your customer and be always aware of future trends. Don’t be scared to innovate and pivot to new ideas or industries, or even to start over from scratch.
- Make good fortune happen
Successful entrepreneurs don’t wait around for opportunities to be handed to them, they go after them and make their good fortune happen. No one is going to give you anything. You have to want it.
Opportunities can appear where and when you least expect so be always open and prepared to find them.
- You’re not alone
Just having a good idea is not enough for being a successful entrepreneur. In fact, this is the easiest part. The ability to have a vision and create the strategy and actionable steps to accomplish it is what will bring the idea to life.
Nevertheless, a solo-founder can struggle to do all this alone. Know your limitations and delegate to others with no fear to ask or accept help.
Seek out expert advice when needed.
At Linkilaw, we are entrepreneurs first, lawyers second! We provide legal support that suits you, so you can stay focused on growing your business. Book a consultation with our legal team today!