Top Three Entrepreneur Characteristics

July 1st, 2009

by John R. Sedivy

iStock_000009139934XSmall More than a few articles have been written about what makes a good entrepreneur. However I believe these past articles were lacking in that they focus more on hard skills, for example – organization, planning, financial management, etc. These preceding skills can be taught, and in my opinion, do not really distinguish an entrepreneur from an employee. Not that entrepreneurship cannot be taught, but in my experience soft skills are more ingrained within one’s personality than the hard skills and therefore more difficult to pick up.

Traits To Embrace
I personally believe that there are three traits that top the charts for an entrepreneur:

1. Unwavering
2. Flexible
3. Patient

First and foremost, entrepreneurship takes an unwavering commitment. The highs are really high, the lows are really low. You will have an adrenaline rush at times and at others you will not want to crawl out of bed and will be sick to your stomach. Most will tell you that you are foolish. Most will tell you to get a job and to forget your pipe dream. However the truly successful entrepreneurs have an unwavering commitment to their dream. For an excellent example of such commitment, check out the story of Howard Schultz and how his unwavering commitment to an idea transformed Starbucks.

Second, an entrepreneur must be flexible. The world is constantly changing and you must change with it. You may start out with one type of business, but then change course to increase profit, or even survive. The earlier stage a company is, the more at risk they are to market conditions. This may be likened to a person floating in a river – do not fight the current, go with the flow. For an interested story on entrepreneurship check out he world’s oldest company – Kongo Gumi which was in business for 1,400 years prior to being bought out. This company had a long existence due to changing business focus and bucking cultural trends.

Finally, an entrepreneur must be patient. A business takes time and certainly does not occur overnight. Although it may appear that nothing is happening, in general the work of an entrepreneur is not wasted, things are happening behind the scenes. This is not to imply that one should wait idly by, the entrepreneur is constantly busy, however they should not fall into the trap of wavering in their commitment due to lack of tangible results. Results are often slow coming – however when they hit, they hit hard! For an interesting story on entrepreneurship and patience check out the story of Black Dot Coffee. For more on my writing on patience, refer to my article “Patience, More Than A Virtue.”

Do You Have What It Takes?
If so then entrepreneurship may be the path for you. There is only one way to know for sure, give it a try! If you do not have all the traits required, then find a partner that can supplement your strengths and complement your weaknesses.

If you do not possess these traits but feel a burning desire to strike out on your own, do not feel discouraged. These traits can be learned, however it will be difficult. The very act of learning these traits will further strengthen the traits upon which you are working to build. By being conscious of your need to become more unwavering, flexible, and patient, you will by default become more so over time.

The top three traits of an entrepreneur are an unwavering commitment, flexibility, and patience!