Essentials for Success: Starting and Running Your Own Business


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Starting a business doesn’t have to be difficult. In fact, with enough hard work and capital, you’re chances are high. But persistence and money aren’t the only things you need. Successful people — those who not only start a business but operate it successfully for years to come — have certain traits in common. Desire, drive, motivation, and willpower to continue when things get tough, are a few of these traits.

But is ambition and a well-funded bank account enough? Probably not. So what will actually push entrepreneurs to pull ahead? These are a few essential character traits people need:

Character Traits of Successful Entrepreneurs

The right character traits will help individuals succeed. Thought leader and China expert Joshua Cooper Ramo is just one of the many successful entrepreneurs who can attest to these traits. But, he’s not alone. Gary Vaynerchuk, for example, began working for his family’s liquor store only to eventually launch the first wine e-commerce stores in the U.S. And, Dave Meltzer has become one of the most well-known names in the sporting industry with his Sports 1 Marketing company.

What do these individuals have in common? Their desire to step outside of the box. Ambition is only one of the traits these individuals share. Being relentless, testing different concepts others aren’t willing to experiment, taking calculated risks, and investing in themselves when others aren’t willing to, are just a few of the many traits it takes to succeed.

Sometimes, stepping out on a limb is just the starting point. Working past pitfalls, and working toward achievements others can’t see, is what it takes to succeed as an entrepreneur in the long run. The ability to build and nurture connections is also imperative to success.

It’s a Matter of Who You Know

Knowing the right people, maintaining positive relationships, and knowing there is a “give and take” in any business venture will help individuals excel in their respective fields. It’s important to build relationships, but also to nurture them in order for them to flourish. Professionals who share, offer free services, or are otherwise willing to help people grow, are the ones who ultimately float to the top. The more people you know in high places, the easier your road to success is going to be. And, the longer you’ll remain at the top of your business venture.

Take a Chance

Jennifer Frye, a marketing consultant, indicates that individuals who are risk-takers are the ones who’ll succeed. Those who are happy with their 9-to-5 job, and simply making ends meet, aren’t going to succeed as entrepreneurs. Self-motivation and curiosity in their craft are also some characteristics successful entrepreneurs share. Discipline and a strong work ethic are also atop the list of characteristics necessary to succeed in any industry.

What it Takes

Even if you don’t possess each of these characteristics, ambition, dedication, and a desire to succeed can propel you to success. Often, it’s knowing the right person, or meeting the right person by chance. Taking a chance on yourself, stepping outside your comfort zone, or doing something that others aren’t willing to do, can eventually lead to entrepreneurial success. Being creative and willing to work independently to achieve success are traits anyone who wants to succeed must possess. But, this will only get you so far if you aren’t willing to cultivate yourself, acclimate to the business culture, and build meaningful relationships to have the longevity you desire as a successful entrepreneur.

Once you get to the pinnacle, it’s a different story, and you’ll have to work and maintain relationships to stay at the top. But, if you’re willing to put in the work and focus on relationship building, positive interactions and hard work, it’s possible to start a business and operate it successfully for years to come.