Nine Personality Traits of an Entrepreneur

Entrepreneur … This is a title that applies to so few but is thrown around by so many. We see it so commonly used in an Instagram biography and so casually self-proclaimed in conversation but the truth is being an entrepreneur is quite rare. Entrepreneur comes from the French verb ‘entreprendre’ which means to undertake or to try – it is a verb not a noun and that is because entrepreneurship is first and foremost about action. While each case is different and there are a great number of inherit traits as well as additional variables that contribute to ones entrepreneurial success, there appear to be a few personality traits that entrepreneurs have in common. Need for achievement: At the core of an entrepreneur is an unwavering, deeply ingrained drive for achievement, success and reaching ones goals.Emotional stability: There is a lot of emotional turmoil that comes with entrepreneurship, whether its stress, grief, disappointment or pressure it is important to develop ‘thick skin’. This will help in remaining rationale, unbiased and prevent burning out. Risk taking: To clarify, risk taking does not mean taking impractical, senseless gambles but rather taking a calculated risk that will likely (though perhaps not surely) result in benefit to ones business/company. This can be difficult as these risks are often based on intuition however it may also be what separates you from the next entrepreneur.Innovativeness: What makes you different? As an entrepreneur it is important to be unique in various aspects of your work. There are vast amounts of products, information and services available to the public, it is therefore important to differentiate yourself somehow to ensure that you stand out above others. Autonomy: Entrepreneurship can be lonely, being autonomous gives oneself a definitive sense of independence and self-sufficiency. While this may put a lot of pressure, it is also this feeling of independence that drives entrepreneurs to put in the vast amounts of effort required for success.Locus of control: Locus of control refers to the degree in which people believe that they have ultimate power over the events within their lives rather than external forces outside of their control. This thought process in turn give oneself an ultimate sense of responsibility over both their achievements and their failures. Self-efficacy: Self-doubt will only hinder your decisions, actions, thoughts and behaviours. Belief in yourself and belief in your abilities to achieve your goals is therefore a critical component of the psychology of an entrepreneur. Proactive: Being proactive rather than reactive is a distinguishing factor of an entrepreneur. Being one step ahead of the average person may be able to provide you with a natural edge over others.Patience: Last but certainly not least, patience is a key personality trait, and often one that does not come very naturally to successful entrepreneurs. The truth is, it can be years upon years of consistently putting in hard work before you begin to see results.So what do you think? Have you got most … or all of these personality traits? Ready to become an entrepreneur? Well there are a few more pieces to the puzzle. First and foremost knowledge, skills and ability are at the core of entrepreneurial success. While to an extent these may begin through ones natural ability, it is essential that they be developed upon through education, training and experience. In addition it appears that the vast majority of goals set by entrepreneurs are centralised on growth, a vision and an action strategy.Each entrepreneur is different and while there is definitely no one specific category that one must fall into in order to be successful in their entrepreneurial journey – these personality traits do appear to provide an advantage on the road to entrepreneurship.