work at home, women in business, resources for small business

What Makes a Successful Entrepreneur?

What the key to success?

What's the key to success?

Everyone wants to be an entrepreneur! The word itself conjures up images of adventure, self-fulfillment and financial freedom.  In our capitalist society we admire the one who walks away from the security of the corporate world to follow their dreams.

But following your dreams isn’t enough to bring you success as an entrepreneur.

What are the traits that makes an entrepreneur successful?

Believe it or not your success as a business owner isn’t contingent on the economy, how educated your are or the grandness of your idea.  It will be based on a perfect blend of innate abilities and learned skills that must be juxtaposed and contrary to one another.

To be a successful entrepreneur you must have these opposing characteristics:

  • Analytical and Intuitive– Entrepreneurs have to make rational decisions based on market research, financial analysis and other key growth drivers; then they must be able to throw that knowledge out the window and trust their gut
  • Stubborn and Adaptable– Every entrepreneur can so clearly see their vision that nothing deters them. At the same time, they must have a willingness to change plans and go in a different direction when needed.
  • Paranoid and Trusting– Entrepreneurs know that there are people who have no creativity of their own and will boldly steal your idea but they also know that no one else can implement their ideas better then they can. Besides, talking to other people opens them to receive help and even better ideas.
  • Self-Confident and Insecure The confidence fuels them to go after challenges and pursue their dreams. The insecurity makes them reassess their services and products. It causes them to set high standards.
  • Filled with Visions of Grandeur and Action –Oriented Although they fantasize, day-dream, and talk endlessly about their ideas, their future interview with Oprah and the millions that they are going to earn they know how to take action. This is what separates the Wanna-Bees from the Gonna- Bees.  Taking action is critical; however 98% of daydreamers don’t understand how critical.
  • Jack of all trades and Master of None In some circles this is seen as a negative. But in the world of entrepreneurship it’s a much needed skill. When most people become self-employed they have to be the janitor, accountant, web-designer, office manager and staff. It’s vital to know something about everything even if you can pay someone else.

If you can think of more I would love to hear it. Leave your thoughts in the comments section.

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To Our Mutual Success, Lady T



16 Comments
  • Steve @Life Change For You
    February 3, 2010 at 11:38 am

    Lady T I think one of the most important, at least for me, Is positive thinking. I constantly need to look at what is going on and see how I can deal positively with it. If I couldn’t do that, I’d be lost!
    .-= Steve @Life Change For You´s last blog ..No motivation can’t get out of bed =-.

    Reply
  • Terri Brooks
    February 2, 2010 at 5:37 pm

    My additions would be “Patient and Prayerful.” I think you have to be patient and wait for success to come. Don’t give up before “payday!”

    And it doesn’t hurt to keep praying too. 🙂

    Terri
    .-= Terri Brooks´s last blog ..6 Social Media Marketing Tips for Small Business Owners =-.

    Reply
    • Lady T
      February 2, 2010 at 7:52 pm

      AMEN Terry! AMEN!!

      Reply
  • Rich Avery
    February 2, 2010 at 5:13 pm

    I’d add “Good talker and good listener.” Some people are good at one or the other. But entrepreneurs need to be good at both. You’ve got to know how to talk to your clients and customers, and how to listen to them and learn from them.

    Reply
    • Lady T
      February 2, 2010 at 7:57 pm

      Yes Rich, a lot of entrepreneurs are charismatic and love to talk, unfortunately they don’t develop the other side of communication: listening! Duh! If you want to sell you must listen!
      Thanks for your insight!

      Reply
  • Eren Mckay
    January 31, 2010 at 5:14 pm

    Very true how these things are so opposite but so needed. I guess the key word here is balance and taking action. One of the other things that I have found is discovering solutions to things that hinder us.
    For example: sometimes I try to”do it all” myself and it really is not possible. There are some things that need to be delegated. By reevaluating the use of my time and delegating certain tasks that drain me I have been able to move forward mcuh faster.
    This is thought provoking article 😉
    All the best,
    Eren
    .-= Eren Mckay´s last blog ..Top 20 Beautiful Free Printable Calendars for 2010 =-.

    Reply
    • Lady T
      February 1, 2010 at 10:01 am

      Oh yes, the SOLOPRENEUR syndrome! Doing it all seems to be inherent in our feminine nature, so when you add a home business on top of it….whew! Thanks Eren.

      Reply
  • how to ollie
    January 30, 2010 at 5:48 pm

    Great post. I’m always looking for great blogs and I really like yours.

    Reply
  • Michelle Waters
    January 30, 2010 at 1:57 am

    Oh no! That reminds me… we still need to decorate ours.

    *Hangs head in shame…*
    .-= Michelle Waters´s last blog ..Work At Home Success Interview: Starting Over =-.

    Reply
    • Lady T
      January 31, 2010 at 11:16 am

      Not to worry Michelle, kids don’t care about the time, they just want the candy! We were suppose to decorate it and sit it under the Christmas tree. Last week we took the tree down and this week (the end of Janurary!) we decorated the gingerbread house. They were as happy as can be! LOL!

      Reply
  • Michelle Waters
    January 30, 2010 at 1:34 am

    I’d like to add that you have to be focused but aware, especially if you are running a business at home with kids.

    Not only do you have to be able to focus enough to complete one task and move on to the next, you also to be aware enough to prevent the kids from giving the dog a buzz cut…
    .-= Michelle Waters´s last blog ..Top 5 Home Businesses To Start In A Recession =-.

    Reply
    • Lady T
      January 30, 2010 at 1:55 am

      ROFLOL! Or from completely devouring the newly decorated gingerbread house! The poor thing wasn’t alive 2 hours.

      Reply
  • Sarah Z. Cordell
    January 29, 2010 at 11:43 pm

    Good list! My addition would be Loud But Quiet: You have to be willing to get your message (and yourself) out there, but you also have to be able to listen to the responses you get.

    Reply
    • Lady T
      January 30, 2010 at 12:04 am

      Good one Sarah! That is so true.

      Reply

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