Five traits of the entrepreneur

Right now I’m in Melbourne, Australia teaching a Straight Line Sales and Persuasion Mastery Boot Camp. By the time this blog gets posted I’ll be teaching a Venture Capital Boot Camp for entrepreneurs. Hectic week and I’m loving it, because I thrive in these fast paced environments.

Since I’m surrounded by successful people and those eager to achieve success, I thought now would be a good time to share some thoughts on entrepreneurship. That word gets a lot of use these days and in some cases it gets a lot of abuse.

See, entrepreneurship is not the same as starting a business or running a business. It’s a much more visceral, seat-of-your pants experience. And while I teach in my Boot Camps, 10 skillsets every entrepreneur must ace to be successful, there are some necessary traits that just can’t be taught in the classroom.

The first is passion. I’ll go so far as to say obsession. If you’re thinking about being a 9-to-5 entrepreneur, you’re not ready for prime time. There’s nothing casual or part time about being an entrepreneur. It’s an all-consuming lifestyle.

Next is mental and emotional toughness. There’s a reason why this lifestyle is all-consuming. There’s a lot of risk involved. In fact, risk is a part of the dictionary definition of entrepreneur. Entrepreneurs work endless days with no pay and no guarantee of success. But they’re so passionate about their cause, so driven by their desire to succeed, that they can weather any storm, overcome any obstacle.

You’ve got to believe in yourself. All eyes are going to be on you. You’ll have to sell your vision to investors, to partners and finally, to employees. If you’re smart, you’ll attract people who are both complimentary and supplementary. You won’t be skilled at every task and you’re going to need others to fill the voids. Accept that, attract great peopleand don’t be threatened by their greatness.

Be decisive. There’s no room in an entrepreneur’s life for endless study and debate. No entrepreneur makes the right decision all the time, but the hallmark of a true entrepreneur is the ability to make that decision. They gather as much intelligence as they can and then they make their move. Boom! It’s a done deal. Next case.

Finally, on the heels of being decisive is being flexible. Even if you were to make the right decision every single time, that decision is just for a moment in time. A new day brings new challenges and new opportunities. Entrepreneurs know how to adapt and how to change course. The one thing entrepreneurs don’t know how to do is stop.

All the best,