5 Traits of a Successful Entrepreneur

Shailesh Kumar
5 min readMay 27, 2022
Photo by Humphrey Muleba on Unsplash

What does it take to be a successful entrepreneur? Many people would say that you need to be resilient, have grit, and be able to take calculated risks. But what about personality? Listed below are the 5 key traits that are common among successful entrepreneurs. In this article, we will discuss each of these traits in detail and provide examples of entrepreneurs who embody them. So if you’re thinking of starting your own business, read on! You may just find the inspiration you need!

1. Resilience

No matter what obstacles they face, successful entrepreneurs never give up. They are resilient and know that setbacks are a normal part of the journey. They are not afraid to take risks, and they quickly bounce back from failures. As Thomas Edison once said, “I have not failed. I’ve just found 10,000 ways that won’t work”.

Resilience is important for entrepreneurs because it allows them to keep going despite the setbacks they face. Entrepreneurship is not easy, and there will be times when things don’t go as planned. But if you are resilient, you will be able to get back up and try again.

One example of a resilient entrepreneur is Elon Musk. He is the founder of Tesla Motors, SpaceX, and several other startups. He has faced many challenges in his career, but he has never given up. In 2008, Tesla was close to bankruptcy. But Musk persevered, and today Tesla is one of the most successful electric car companies in the world.

Another example of a resilient entrepreneur is Sarah Blakely. She is the founder of Spanx, a successful shapewear company. In 2000, she quit her job as a saleswoman to start her own business. However, it was not easy to get Spanx off the ground. She was rejected by over 100 manufacturers before she finally found one that would produce her product. But she never gave up, and today Spanx is a multimillion-dollar company.

2. Bias Towards Action

Successful entrepreneurs are always moving forward. They have a bias towards action, and they are not afraid to take risks. They know that the only way to achieve their goals is to take action and make things happen.

This bias towards action is important for two reasons. First, it allows entrepreneurs to seize…

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