Essential traits for entrepreneurial success <br><small>15 traits that sets the successful entrepreneurs from not-so-successful ones</small>

Essential traits for entrepreneurial success
15 traits that sets the successful entrepreneurs from not-so-successful ones

Watching and reading about Successful Entrepreneurs and Small Business Owners is always exciting. Every professional dream of owning a business, but many never takes the risk of starting their own business. The select few who take the plunge into entrepreneurship face several challenges, and over 80% of them fail to reach their goals in five years.

Why is it that there is such a high failure rate in Entrepreneurship?

In every sphere of life, there are excellent performers, there are mediocre ones, and there are failures. The same goes for entrepreneurs as well. While there are entrepreneurs who create billion-dollar companies, there are also entrepreneurs who get stuck at a few million and then are those who wrap up their business in a few years.

In trying to understand the differences between successful entrepreneurs and not-so-successful entrepreneurs, we found out that there are over 50 traits that can contribute to an entrepreneur’s success. A sub-set combination of these traits significantly impacted Entrepreneur’s success. After studying numerous successful entrepreneurs, I found that 15 traits were common among most of these successful entrepreneurs. Here are the details of the 15 traits.


Driving forces


Owning and operating a business gives a sense of achievement and freedom. But it comes with an inherent risk as well, i.e., uncertainty. Depending on a combination of many factors, including their business model, market conditions, and the competitive landscape, most entrepreneurs need to deal with uncertainty at varying degrees. Many factors contribute to entrepreneurs’ success as they launch and try to scale up their businesses. But, with all other similar factors, success largely depends on the above dominant traits, along with strong motivation, the ability to change and adapt, and tenacity, amongst many other traits.