5 key traits that 99% successful entrepreneurs have in common, says this psychologist

As an entrepreneur, you’re always looking for that secret sauce that gives you an edge over the competition. What if I told you that there are certain traits that 99% of successful entrepreneurs share? You’d be interested, right?

Well, according to a renowned psychologist, there are indeed five key traits that almost all successful entrepreneurs have in common. These aren’t just fancy buzzwords or flimsy theories but tangible characteristics backed by years of research and observation.

In this article, we’ll delve into these traits, shedding light on how they contribute to entrepreneurial success. And don’t worry, we’re not here to feed you jargon or complex psychological theories. We’ll keep it simple and straightforward – just like the most effective business strategies.

So, strap yourself in and get ready to uncover the quintessential traits that could propel you into the 99% of successful entrepreneurs. Who knows, you might just find that secret sauce you’ve been searching for.

1) Unshakeable self-belief

If there’s one trait that’s virtually universal among successful entrepreneurs, it’s a rock-solid belief in oneself. This isn’t about arrogance or overconfidence, it’s much deeper than that.

Top entrepreneurs are often faced with situations where the odds are stacked against them. In such times, it’s their unshakeable self-belief that sees them through. It fuels their determination to overcome hurdles and propels them towards their goals.

Successful entrepreneurs truly internalize this belief. They believe in their ability to make life better, not just for themselves, but for others too. And this belief isn’t blind. It’s backed by a keen understanding of their strengths, a clear vision for their venture, and an unwavering commitment to make it all a reality.

So next time you’re faced with a daunting challenge or a critical decision, remember to draw on your belief in yourself. It might just be the trait that separates successful entrepreneurs from the rest.

2) Adaptability

Now, let me share with you a personal experience. When I launched my first business, I had a clear plan in mind. But as the saying goes, “Life is what happens when you’re busy making other plans”. The market shifted, unexpected challenges arose, and my meticulously laid plans… well, they didn’t pan out as expected.

That’s when I truly understood the value of adaptability. It’s a trait that 99% of successful entrepreneurs have in common.

Adaptability is about having the flexibility to pivot when circumstances demand it, and the willingness to embrace change rather than resist it. It’s this trait that allows entrepreneurs to thrive in the face of adversity and turn setbacks into opportunities.

Psychologist Carl Rogers said, “The only person who is educated is the one who has learned how to learn and change.” In entrepreneurship, being open to learning and changing is not just important; it is essential.

So, while it’s great to have plans and strategies, remember that adaptability can often be the difference between success and failure.

As I learned from my own experience, being adaptable doesn’t mean you’re indecisive or lack direction. It means you’re resilient, responsive, and ready to make the most of whatever comes your way.

3) Emotional intelligence

Emotional intelligence, often overshadowed by its counterpart, IQ, plays a critical role in entrepreneurial success.

Emotional intelligence refers to the ability to understand, use, and manage your own emotions in positive ways to relieve stress, communicate effectively, empathize with others, overcome challenges and defuse conflict.

A study conducted by TalentSmart revealed that 90% of top performers in business have high emotional intelligence. This directly correlates with how these individuals manage their emotions for their benefit and that of their businesses.

Successful entrepreneurs are often adept at building strong relationships, leading teams, negotiating deals, and navigating complex business environments – all of which require a high degree of emotional intelligence.

So, as an entrepreneur, it’s worth investing time and effort in building your emotional intelligence. It could be the hidden asset that propels you into the realm of the truly successful.

4) Risk-taking

When I think back to the early days of my entrepreneurial journey, I remember the countless risks I had to take. From quitting a stable job to venturing into the unknown, every step was a risk. But here’s the thing about successful entrepreneurs – they aren’t afraid to take calculated risks.

Taking risks is ingrained in the very fabric of entrepreneurship. It’s about stepping out of your comfort zone and daring to try something new, something different.

As renowned psychologist Abraham Maslow once said, “In any given moment we have two options: to step forward into growth or step back into safety.” Most successful entrepreneurs choose the former. They step forward into growth, embracing risk as an integral part of that journey.

But remember, it’s not about reckless risk-taking. It’s about weighing the pros and cons, assessing the potential rewards against the potential setbacks, and then making informed decisions. It’s this kind of calculated risk-taking that can propel your business to new heights.

So, don’t shy away from taking risks. Embrace them as part of your entrepreneurial journey and as a stepping stone towards success. After all, it’s often the risks we don’t take that we end up regretting the most.

5) Humility

This might seem counterintuitive in a world that often equates success with ego, but humility is a trait that many successful entrepreneurs share.

Humility is about recognizing that you don’t have all the answers and being open to learning from others. It’s about acknowledging your mistakes and failures and using them as opportunities for growth rather than reasons for defensiveness.

Psychologist Carl Jung once said, “The most terrifying thing is to accept oneself completely.” And that’s what humility is really about. It’s about accepting your own weaknesses and imperfections and having the courage to admit when you’re wrong.

Don’t mistake humility for weakness though. It takes strength to admit you don’t know everything, to listen more than you speak, and to share the credit with your team. But it’s this kind of humility that earns respect, fosters learning, and creates a culture of continuous improvement.

In the world of entrepreneurship, humility can be your secret weapon. It can make you a better leader, a better learner, and, ultimately, a more successful entrepreneur. So, embrace humility. It might just be the most powerful trait you didn’t know you needed.

Wrapping up

The entrepreneurial journey is a unique one, filled with ups and downs, triumphs and setbacks. But if there’s one thing that’s clear, it’s that successful entrepreneurs share certain traits.

These traits – unshakeable self-belief, adaptability, persistence, emotional intelligence, risk-taking, humility, and resilience – might just be the secret ingredients to their success.

But remember, possessing these traits doesn’t guarantee success. They are simply tools in your entrepreneurial toolbox. How you use them is up to you.

So, take some time to reflect. How many of these traits do you possess? Which ones could you work on? And most importantly, how will you use these traits to shape your own entrepreneurial journey?

As you ponder these questions, remember that every entrepreneur’s path is different. But by understanding the traits that have helped others succeed, you can better navigate your own journey towards success.