7 Traits Found in Successful Entrepreneurs (2 min read)

1. Passion

It’s commonly assumed that successful entrepreneurs are driven by money.

But most will tell you they are fueled by a passion for their product or service, by the opportunity to solve a problem and make life easier, better, cheaper.

Read: 5 Ways You Can Find Your Passion in Life

2. Tenacity

This trait is known by many names–perseverance, persistence, determination, commitment, and resilience.

Read: 6 Signs You’re Not Cut Out for Entrepreneurship

3. Tolerance of Ambiguity

This classic trait is the definition of risk-taking–the ability to withstand the fear of uncertainty and potential failure.

4. Vision

One of the defining traits of entrepreneurship is the ability to spot an opportunity and imagine something where others haven’t.

Entrepreneurs have a curiosity that identifies overlooked niches and puts them at the forefront of innovation and emerging fields.

They imagine another world and have the ability to communicate that vision effectively to investors, customers and staff.

5. Self-belief

Self-confidence is a key entrepreneurial trait. You have to be crazy-sure your product is something the world needs and that you can deliver it to overcome the naysayers, who will always deride what the majority has yet to validate.

Read: 10 Characteristics Found in Successful Entrepreneurs

6. Flexibility

Business survival, like that of the species, depends on adaptation. Your final product or service likely won’t look anything like what you started with.

Flexibility that allows you to respond to changing tastes and market conditions is essential.

7. Rule-breaking

Entrepreneurs exist to defy conventional wisdom. Doing what the majority isn’t doing is the nature of entrepreneurship, which is where the supply of inner resources comes in.