12 Traits That Set Entrepreneurs Apart

Do you have what it takes?

Published by ActionCOACH Philippines

Every career path chosen somehow influences the traits a person should have. The army and police are known for being courageous and just; educators are known for being intellectual and empathic; and scientists are known for being curious and factual. 

An entrepreneur is someone who is willing to take great risks in the name of creating, developing, and organizing business ventures. However, not all entrepreneurs are created equal.

Entrepreneurs vary from one person to another, depending on their entrepreneurial mindsets, thinking patterns, belief systems, and characteristics. Hence, knowing the 12 essential characteristics can help one become a better and more well-rounded entrepreneur.

For most people, the Lenten break serves as a moment of retreat and self-reflection. For entrepreneurs, this could be a time to take a break from the business and improve oneself or learn something new. 

12 Essential Characteristics of an Entrepreneur

By examining the essential characteristics of an entrepreneur, we gain a better understanding of certain traits that are common to all full-fledged, successful businessmen. These traits are crucial factors as to why they have accomplished their goals as entrepreneurs.

1 | First and foremost, they are confident.

Confidence is a hallmark of the entrepreneur. They have strong self-esteem and unfaltering faith in their abilities, even in the middle of challenges and hardships. 

2 | Entrepreneurs possess a strong sense of ownership,

which is all about taking charge and being responsible, accountable, and profitable. Taking responsibility for getting things done—and doing them with care and attention—is what it means to act like an owner. Rather than viewing a problem as someone else’s, the entrepreneur sees it as his or her own and takes pride in finding a solution. 

3 | They are highly effective in communication.

Entrepreneurs recognize that the most important part of any business is the human element. Human resources, whether in the form of clients, employees, or strategic partners, are what makes or breaks a business, and communication is the key to successful relationships with people. 

4 | Entrepreneurs are extremely passionate about learning while enjoying teamwork and synergy.

Entrepreneurs are often “autodidactic” learners, which means that much of what they know they learned not in a formal classroom setting, but instead on their own by seeking out information, asking questions, doing personal reading and research, and working with people.

5 | They love being a team player.

Team players know how to succeed by employing the strategies of interpersonal synergy and dynamic relationships. Successful entrepreneurs leverage teamwork to get the heavy lifting done without breaking stride.

6 | Entrepreneurs are highly systems-oriented.

They rely upon systems before they rely upon people, and they look for system-based solutions before searching for human resource solutions. Why? Because well-established systems are not easily disrupted.

7| They are dedicated.

Entrepreneurs dedicate themselves to the fulfillment of their plans, visions, and dreams, and that tenacity of purpose resonates throughout the whole organization.

8 | Entrepreneurs are grateful

for every opportunity, challenge, risk, and success. They learn to take nothing for granted in this world. That gives them the agility and flexibility to adapt to changes and demands, while it also invests in them a thankfulness that reminds them that riches and wealth are not about “stuff. ”

9 | They are optimistic.

A positive outlook is essential for the entrepreneur. They learn to see setbacks as bargain-priced tuition for the valuable business lessons gained through firsthand experience.

10 | Entrepreneurs are gregarious.

They get excited about sharing ideas, products, and services, and that excitement is contagious to their employees, clients, friends, and other contacts both within and beyond the business sphere.

11 | They love to lead by example.

Entrepreneurs not only lead themselves through self-motivation, but they are also skilled at leading others. They know the importance of teamwork, and they understand the need to appreciate others, support them, and reward them accordingly.

12 | Last but not the least, entrepreneurs are unafraid of risk or success.

Entrepreneurs are not immune to fear. But they prioritize their approach to life so that the fear of failure, frustration, boredom, drudgery, and dissatisfaction far outweighs the lingering fear of success.

These characteristics, though in varying degrees per person, are what make a successful entrepreneur.

Many different types of people are drawn to entrepreneurship, and a wide variety of talents, aptitudes, and personal traits contribute to the entrepreneur’s spirit, personality, and vision. By examining some of the more predominant qualities of the true entrepreneur, it is possible to emulate them, nurture, and develop them for yourself. Nowadays, more and more businesses are opening, making the industry competitive and exciting. The Department of Trade and Industry reported that there were around 957,000 business enterprises in the Philippines in 2020. Now, during the country’s recovery phase, these numbers are foreseen to grow.

ActionCOACH is the world’s largest business coaching firm with over 1,000 coaches in 80 countries coaching 18,000 clients weekly. Get a Free Business Health Check today or attend an ActionCOACH Event.

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