Great entrepreneurs are not born, they learn to be great from their experiences and develop a set of traits that help them sustain as a good leader throughout their lives. Here are 7 traits that define a truly great entrepreneur.
1. They are level headed.
Being an entrepreneur is a mentally challenging job. The amount of pressure, confusion and chaos the job brings to the table every day can push a person into a mental and emotional roller-coaster. This not only impacts the entrepreneur, but his employees as well. However, a great entrepreneur is always mindful of his state of mind and therefore ensures that his decisions are never made under the influence of his emotions.
2. They ask “What if?”
Every great entrepreneur is driven by possibilities. Therefore, he constantly asks a series of “What if?” questions — what if we help the blind gain vision? What if we work under water? What if we travel to space? These questions inspire them to go beyond their comfortable territories and do something challenging.
3. They fail harder.
To most people in the world, failure is devastating. But to great entrepreneurs, every failure is a teacher. Entrepreneurs know the value of failures in life. So instead of fearing them, they focus on failing harder. The lessons they learn through ceaseless failures, therefore, prepares them to deal with difficult challenges in the future and succeed gloriously.
4. They don’t compete, they collaborate.
Most entrepreneurs today aim at competing. They learn their competitors’ weak points and develop their strengths accordingly. This approach works for some people. But truly great entrepreneurs focus on collaboration than competition. They believe that when people join hands to solve one problem, the solution is always more sophisticated and meaningful than any other approach.
Image Source: Youth Voice Center
5. They don’t take things personally.
When things go miserably wrong in a company, everyone points fingers at the entrepreneur. They bicker, whine and brood about the issues that concern them. Some entrepreneurs during such scenarios take such claims personally, get hurt and lose their motivation as a result. Some great ones, however, know that the deeper problem is something else and focus on solving that instead of taking things to their heart.
6. They build a culture, not a company.
There’s a startup craze that’s consuming the world these days. But this craze is directed more towards building a company that they can call their own. But great entrepreneurs refrain from chasing such sell-centered goals. They believe in building a culture of common principles, values and ideals.
7. They discuss, not dictate.
With the role of entrepreneur comes great power. Power to tell employees what to do. Power to fire those who you dislike. In other words, with being an entrepreneur comes the power to run the company as you want. Many people get lured by this power and use it dictate their viewpoints. Great entrepreneurs, on the other hand, are hardly ever dominating. They believe in discussing their ideas and viewpoints before implementing them or making rules.