Starting a business from the ground up is no easy task. If you want to start a business you must have the passion, drive, and strength to work long days and nights that our forefathers of innovation possessed. The inventors that many people hear and read about in history, Ben Franklin, Thomas Edison, George Washington, spent years convincing people that they had a product that would change people’s lives.
Many entrepreneurs fail to rise to the top or quit before they see the fruits of their labor. In the U.S. alone there are currently over 27 million entrepreneurs running small businesses across the country. According to Bloomberg.com, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months.
Do you have what it takes to rise to the top? Here are 5 traits from successful entrepreneurs who have risen to the top:
The best entrepreneurs see an opportunity to solve a problem for which no one else has a solution. People think that starting a business is as easy as picking a logo and a name. Successful entrepreneurs are inventors of their own brand. They spend months developing a strong business strategy before bringing on partners, investors or launching a new product.
A great example of a modern-day problem solver is Steve Jobs, the founder of Apple. Jobs helped usher in an era of digital transformation. He changed the way we use computers, mobile phones, cameras, and listen to music.
“Every great dream begins with a dreamer. Always remember, you have within you the strength, the patience, and the passion to reach for the stars to change the world”-Harriet Tubman.
Most successful entrepreneurs will tell you that they attribute their success to dreaming big and stepping out on faith. To survive in business, you must stay laser focused on your vision, be willing to take a risk and have the patience to ride out the ups and downs. Our forefathers of innovation spent years crafting their inventions. They pursued their dreams regardless of what the public thought of their idea.
Leaving corporate America does offer some flexibility to your daily schedule but that doesn’t mean you will work less than 40 hours a week. Research shows that successful entrepreneurs spend on average 60 to 70 hours a week working on their small business. To be successful in the small business world, long hours need to be a part of the equation. The best inventors spent long hours in their workshops and offices working hard to see their ideas come to light.
The most successful entrepreneurs learn from others who have fallen and risen to the top. Entrepreneurs who win at business find mentors in their industry and utilize them as resources. They aren’t afraid to ask for advice or help when they need it. Many entrepreneurs also see the value in looking at what their competitors are doing in the industry. They learn from their competitor’s mistakes and find solutions for those problems.
They never give up
Thomas Edison once said, “a genius is one percent inspiration and ninety-nine percent perspiration.” The word inspiration is derived from the Latin word aspire. Aspire means to rise high and direct your ambitions or goals toward achieving something great. A successful entrepreneur never gives up and sets a positive mindset with the goal of achieving something great. At the end of the day when you want to give up, continue to push through with your big idea.
Do you possess the traits it takes to become a successful entrepreneur? Watch our video to discover 5 additional traits needed to rise to the top.