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This article is more than 2 year old.

Want to be a successful entrepreneur? Know these 6 traits

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Here are a few traits shared by most successful small business CEOs.

Want to be a successful entrepreneur? Know these 6 traits
For young entrepreneurs — fresh out of college or with few years of corporate experience — starting a business is not a cake walk. Almost eight out of 10 young CEOs fail within the first 18 months of starting a business, as per a Bloomberg report.
So what does it take to be a successful entrepreneur?
Here are a few traits shared by most successful small business CEOs, as reported in inc.com:
  1. Self-confidence is the key to success. It seems difficult to withstand the competition, given that several experienced businesses too struggle. However, if you look to stand strong in this competitive world, attract investors, hire great people or sell your new product, believing in yourself is going to help in the long run.
  2. Entrepreneurs have to juggle between their works to make sure nothing drops through the cracks. You might have done a presentation in the morning and by afternoon you might be calling for office supplies. All that needs to be taken care of is to spend the most time on activities that will move the needle.
  3. Hire self-starters and don’t let your ego get in the way of your work. Young entrepreneurs need to hire people who can help them figure out what needs to be done.
  4. Articulate your vision in the shortest way possible. In this short-attention-span world, having a strong vision is not enough if you don’t have the ability to convince people around you about your dream in plain simple English under 90 seconds.
  5. As a young entrepreneur, starting a fairly new business may not offer a sizeable enough paycheck to inspire candidates who could give their 110 percent to the company. Here is where your charisma and personality comes into play. Give your employees a reason to believe – a higher purpose to get behind – and be sure to make it fun.
  6. Your product is as good as the service you provide with it. Hence, customer service becomes an inevitable part of your business. Many big companies have been disrupted by new startups just because of the service they provide to their customers.
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