Characteristics All Entrepreneurs Need

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Anyone can start a business, but it’s how that business is nurtured and grown that really makes or breaks it. After looking at several successful (and not successful) entrepreneurs, it’s clear that there are a few distinguishing characteristics of successful entrepreneurs.

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Passion

This is the most important quality of an entrepreneur – if you are not passionate about what you are doing, then why not work a normal 9-5 job? Figure out what your mission is when you create a new company and stick with it. This is what will drive you on days when you just don’t want to get out of bed.

The Openness to Learn

Just because you started your own business and are doing well, that doesn’t mean you know everything. Always be learning from those around you; whether they have had 50 years in the business or 2, a helpful tip can go a long way. Being an entrepreneur is not just a job – it’s a lifestyle. Be open to learning new things and trying out new ways to do business.

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Resourcefulness

Any new business owner knows that the first couple of years can be tight – so learn how to make the most out of what you have. Does the intern you hired happen to be amazing at math? Have them help you balance the budget instead of just filing. Use the connections you’ve made in college and your career to get better deals on services or find the perfect employee for an open position.

Perseverance

We all know the saying “Rome was not built in a day,” and the same holds true for new businesses. There will be obstacles and there will be hard times; you just need to get through them. Think of your mission and why you started this in the first place. If 10 financial backers turn you down, don’t fret – you’ll eventually find at least one that won’t. It might take some tweaking and changes along the way, but it will happen. That’s the nature of a startup. Remember to be kind, keep in touch with people you meet and things will eventually come through if you continue to persevere.

Time Management Tips

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Managing your time at work and in your home life is essential. Managing your time is all about “working smarter, not harder.” Putting in a 10-hour day doesn’t mean you necessarily were productive. Could it have been done in 8 hours? Managing time isn’t about doing as many tasks as possible. It’s about simplifying how you work, doing things faster, and feeling less stressed.

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Keep Track of Your Tasks

Whether this be on your phone, a calendar, or a checklist – make sure these are documented somewhere. If not, there is always the chance you will forget one or two things on your list.

Complete the Most Important Tasks First

When you start working, identify a couple of tasks that have to be done that day. Instead of putting them off till later, work on them now. You never know what troubles may come up.

Learn to Say “No” When Needed

Sometimes we feel obligated to say yes to a task our supervisor gives us, but if you simply just don’t have the time, say “no.” You should be only be taking on new commitments that you know you have time.

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Focus on the Task at Hand

If your email keeps popping up (and it’s not important) – ignore it. Every time you check a new email or go on Facebook, you are losing focus on the task at hand. Put your phone away, log out of Facebook, and turn off your music if that distracts you.

Assign Time Limits on Projects

Instead of working on a project till it’s done (unless of course there is a deadline) give yourself a time limit. There is a good chance that after 2-3 hours of working on the same project, you’ll need a short break to recharge.

Target to be Early

If a task is due at 2:00, try and be done before 1:55. There is a good chance something will come up that will make things take a bit longer. For appointments, strive to be early. For your deadlines, submit them earlier than required.

Set Reminders

If you have a meeting, set a calendar reminder for 15 minuets beforehand. If you have a project due in a couple of weeks, set a reminder for a few days before.