What You Can Learn from Successful Entrepreneurs

You may look at business moguls like Warren Buffet, Oprah Winfrey, Richard Branson, and Mark Zuckerberg and wonder just how they managed to become such incredible successes in their chosen fields. In each case, there was an amount of education involved (although it often happened in the field rather than a classroom). And it seems to be the case that most wildly successful entrepreneurs are married to their work. But there’s something more about these people that causes them to surpass their competition and reach the top of their field, despite any setbacks or stumbling blocks they encounter. They seem to embody a specific set of personality traits that allows them to overcome in the face of adversity and constantly strive for more. So if you want to model yourself after these and other successful entrepreneurs, here are just a few traits you may want to try to emulate.

1. Ingenuity. You don’t have to be a genius in order to make something bigger and better than everyone else, but a certain amount of innovation seems to help. However, it may be as simple as knowing who to back. Just look at Thomas Edison, credited with “developing” many inventions. He started out working at a telegraph company and made a name for himself by improving upon this device, eventually channeling his success into the introduction of the phonograph. But in the case of many of his later inventions, he simply hired the right people and then patented their inventions. His real talent was improving on the work of others, and in some cases this can make for a successful entrepreneur.

2. Passion. This could also be termed as motivation. In order to be a self-made success you need to have an inner fire that simply will not go out. A passion for what you do will carry you through your darkest failures and allow you to pick yourself up and try again. When most people would throw in the towel, you have to keep going.

3. Knowledge. Okay, so this is not exactly a personality trait. But you’ll find that a successful entrepreneur never stops learning. He knows his business like the back of his hand and has the most up-to-date information available to ensure that he’s at the top of his game. You can’t just rest on your laurels once you make a few bucks. If you want to join the upper echelons on successful entrepreneurs you’ll never lose your desire to learn all that you can about your business (and keep a lot of irons in the fire).

4. Dedication. This is a little different from motivation in that it requires you to do whatever is necessary to make your professional dreams a reality. It means working late nights and weekends, giving up your social life, and devoting yourself completely to the enterprise you’ve started. It may not sound fun, but you’ve seen the payoff for hard work and it’s a choice you’re going to have to make if you want your business ventures to end well (or keep going, really).

5. Creativity. There are going to be times when you feel like you’ve explored every avenue and you still can’t find a solution to your problems. Say you need money for expansion or a huge order but you’re maxed out with lenders, your friends won’t return your calls, and your business partner has checked himself into a mental hospital. A successful entrepreneur would put up his house for collateral, bootstrap the money on credit cards, or even opt for international PO factoring. You just have to be able to think outside the box and come up with something.

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