Jul 28, 2015 @ 10:31 pm jaymie
6 Common Qualities of Successful Entrepreneurs
There’s no definitive formula for success. However, as entrepreneurs, we don’t really need a formula.
We can stand on the shoulders of giants. We don’t need to guess or try to figure out our path to success from complete scratch. We can look to the successful entrepreneurs out there and emulate their habits, common qualities and characteristics.
Here are the six common qualities I’ve found among the entrepreneurs I try to model myself after. This isn’t the definitive list nor the only important qualities. These are just the ones I think you can take the most away from right now. With each quality, I’ll show you a successful entrepreneur that possesses it and how you emulate them and apply that quality today.
Arianna Huffington faced rejection after rejection when trying to publish her second book, After Reason. However, Arianna did not give up. When she was 23 years old, she was rejected by 36 publishers before her book was finally published.
Years later, in 2003, Arianna ran for governor of California in the California gubernatorial recall race. However, after seeing only 2 percent support in early polls, Arianna dropped out of the race. Despite this, and seeing the power of the internet through her fundraising campaign, two years later she launched HuffingtonPost.com, which later sold to AOL.com in 2011 for $315 million.
Arianna understood the importance of perseverance despite her failures and roadblocks. A successful entrepreneur knows that failures and rejections are not signs for stopping but instead signs to keep pushing forward and persevering.
Begin looking at failures and roadblocks as learning experiences and stepping stones. Remember that if it were easy, everyone would do it. You will encounter failures, setbacks and other obstacles. But that’s okay. Persevering despite the struggle is one of the most rewarding experiences for entrepreneurs.
2. Self-Improvement and Always Learning
Elon Musk, CEO of SpaceX and Tesla Motors, is known for being someone who learns very fast. Before Elon Musk started the SpaceX program, according to Esquire’s interview, he read and consumed as many rocketry and propulsion books as possible to learn how to build rockets.
When Elon Musk participated in an “Ask Me Anything” on Reddit, one user asked how Elon is capable of learning so much in such a short amount of time. Elon replied “one bit of advice: it is important to view knowledge as sort of a semantic tree—make sure you understand the fundamental principles, i.e. the trunk and big branches, before you get into the leaves/details or there is nothing for them to hang on to.”
Even with Elon’s success with PayPal and Tesla, and all of his accumulated experience, he understood he would have to learn about rockets and rocket propulsion systems if he wanted to be a competent leader of a space flight company.
Successful entrepreneurs strive to learn more. A part of this is realizing that no matter how successful you are or how much you think you might know, there’s always an opportunity to learn more and work on your personal growth.
Start reading more, listening to more podcasts, and watching more YouTube videos on subjects that can help grow your business. Put together a regiment and daily routine where you set aside an hour a day to work on yourself and becoming a more knowledgeable entrepreneur.
Bill Gates risked his future when he dropped out of Harvard when only 20 years old, to co-found the software company, Microsoft.
From Bill Gates’ book, “Business @ the Speed of Thought: Using a Digital Nervous System”, Bill describes his risk-taking as “to win big, sometimes you have to take big risks. Big bets mean big failures as well as successes. Today, looking back, it’s easy to believe that Microsoft’s current success was inevitable. But at the time we made our big bets, including starting the company as the first personal computer software firm, most people thought we would fail.”
What are the things you are most afraid of doing that has the potential to grow your business the most or put you on the most direct path to where you want to be? One way to overcome the fear of taking risks is simply through exposure. Entrepreneur.com suggests surrounding yourself with other risk-takers. To break out of your comfort zone, and start taking more risks with your business, spend more time with people who encourage you, not the ones who think you will fail.
Howard Schultz’s leadership helped quickly turn Starbucks around when it was on the brink of failure in 2008, during a massive recession. In an interview with London Business Forum, Howard Schultz talked a lot about leadership and what it took for him to revive Starbucks. One of the most notable things Howard says in this interview is “leaders need to be decisive, and you have to be willing to make decisions without perfect information.”
Leadership means being decisive and executing on the things that lead to the growth and betterment of your business. If you have employees or people that you work with, part of being a leader is also explaining how and why the decision is made.
Taking initiative and taking responsibility (and ownership of problems) are two things you can start doing now to work to develop your leadership skills.
5. Hustle and Tremendous Work Ethic
Even while Oprah Winfrey hosted The Oprah Winfrey Show, she was not shy to take on other projects. She appeared in 12 movies and cameoed and produced dozens of other TV shows, movies and documentaries. Oprah took on many different projects, all while keeping her show at the top of TV ratings and winning awards, including 9 Daytime Emmys for Outstanding Talk Show.
Even after the series finale of The Oprah Winfrey Show in 2011, Oprah continues and continued to be a media mogul with her own television network, Oxygen, her own channel, OWN, a magazine, a website, a XM satellite radio channel and several more movies and television show cameos.
Success requires a little bit of grit and hustle. In Oprah’s case, her success came from how she built up her personal brand. She hustled to put herself on nearly every channel available to her without sacrificing quality.
How many platforms can you put your business and brand on? Get active and use the channels available, to bring awareness to your brand.
Go out there and work for it. Don’t be passive or wait for the traffic to come to you. You need to go out there and proactively market your product and proactively make a name for yourself. Nobody is responsible for your success besides you.
When Steve Jobs returned to a failing Apple in 1996, he saw that Apple was losing focus on what made them successful and great. By 1997, Steve reduced Apple’s product line from 350 to just 10.
At a developer’s conference in 1997, Steve Jobs was quoted as saying “When you think about focusing, you think ‘Well, focusing is about saying yes.’ No! Focusing is about saying no.”
Around this time, Steve Jobs had to make a lot of tough decisions to kill off a lot of the products and projects Apple was involved in. Apple’s poor management caused the company to spread itself out too thin. Steve noticed this and began to focus the company which inevitably helped Apple be the powerhouse brand and company that it is today.
Successful entrepreneurs know the importance of focusing and not spreading themselves out too thin or allowing their business to lose focus from its’ original vision.
Take time to step outside of yourself and your business and see where you have started to lose focus. A simple strategy to employ is to keep it simple. Focus on making the best one product instead of making 10 “okay” products. Focus on growing the best ecommerce business in one industry instead of trying to decently serve several niches.
Stand on the Shoulders of Giants
You don’t have to adopt all of these qualities today, just the ones you resonated the most with. Does your business feel unfocused? Work on your focus. Are you not grinding enough? Start hustling more to get your business and products out there.
Entrepreneurs are not born with these qualities, they learn and adopt them through mentors, influencers and their own personal experience. You can start today to do the same to be a better entrepreneur and business leader.
love this! thanks shopify.com
Jul 21, 2015 @ 08:20 pm sophiaabella
Work has no boundaries for Gender!!
Namaste Narendra Modi Sir,
I am a transgender model living in the Philippines and I always had a dream to act in Bollywood films.
I really appreciate the changes what you have made for growth of India and entire world is talking about your success. You have really done great work but when I see the kind life of lesbian, gay, bisexual and transgender people live in India and not accepted as part of society, I really feel sad.
Is it our fault if we are born this way?
Jul 16, 2015 @ 11:28 pm jenniferpelaez
Known as The Skin Care Makeup, the Jane Iredale collection combines the latest most beautiful colors into makeup that is also beneficial to your skin. Formulated with pure micronized minerals and pigments, these all-natural cosmetics have the ability to cover almost any skin problem. It is especially great for Asian skin since we tend to prefer a natural dewy look which is so easily obtained with Jane Iredale’s Smooth Affair ($48), a primer for oily skin.
Jul 12, 2015 @ 02:30 pm jenniferpelaez
As the summer approaches its hottest month, the days of heat waves, humidity and stickiness are sure to continue. It’s the time of the year to experiment with body mists, fragrances and body care to combat the sweat and keep us smelling our best. It’s also excellent timing for Vitabath to launch their much anticipated new scent - Vitabath Orchid Intrigue. With a fragrance that is alluring and sensual, yet light enough and refreshing to enjoy throughout the day, this new scent is layered with luxurious amethyst orchid, sambac jasmine, and sugared musk.
Jul 12, 2015 @ 07:50 am sophiaabella
Work has no boundaries for Gender!!
Beauty is inexplicable. Even a flower is loved without knowing its name and she is in fact a human. She is a terrific blend of beauty. Even some of the Bollywood beautiful actresses are fail in front of her charm. But who is she ?. Why are we talking so much about her?……..
Yes… her eyes really talks of her magical body. She is so glamorous as if a queen. She is none other than Sophia Abella , signified as the Hot, Sizzling and Dynamic model.
Jul 7, 2015 @ 01:07 am jaymie
I love his choreography! So many young up and coming dancers. Who will be the next JLO???
Jul 6, 2015 @ 10:37 pm jaymie
“How do we know this is working?”
It’s the classic ROI question that every content marketing pro will face at some point, and it’s an important question. It’s also a question that can be difficult to answer.
To find that answer, we turn to the numbers—those elusive metrics that will speak to how effective a particular piece of content really is. There’s not a magic number that will be a tell-all when it comes to a piece of content’s success or failure. There are actually several numbers, from page views to unique visits, bounce rate, social media shares, social media engagement, leads generated and, finally, the elusive conversion.
Jul 1, 2015 @ 12:55 am nancylee
She's not even worth one cent an hour!
Hillary Clinton’s name initially came to mind when the University of Missouri at Kansas City was looking for an influential celebrity to speak at a power luncheon celebrating the opening of a women’s hall of fame earlier this year – until they saw her $275,000 appearance fee.
The public university was not prepared to shell out the six-figure fee Clinton, 67, demanded so they turned to the more economical option in the family: her daughter, Chelsea.
Jun 29, 2015 @ 03:37 am jaymie
I love this documentary! Come on #TeamUSA win the World Cup!
Jun 28, 2015 @ 12:08 pm hillarylatos
Designed by Alexander Wang
All that glitters is sometimes gold. AMEX celebrated their gold card in a grand way, showing us that sometimes the iconic plastic card not only can buy us fancy designer duds but can also become a designer dress, bringing conspicuous consumption to a whole new level.
Guests celebrated on Milk Studios’ penthouse rooftop to enjoy newly debuted cocktails and dishes from Gabrielle Hamilton, head chef of popular NYC restaurant, Prune. I liked her twist on the classic deviled eggs, which she spruced up with golden trout roe. Others on the scene included: Ashley Merriman of The Waverly Inn, DJ Chelsea Leyland, Rodrigo Bazan of Alexander Wang, Mazack Rassi of Milk Studios, Brandee Brown, Vashtie Kola, and Micky Boardman & Kim Hastreiter of Paper Magazine.
Another big highlight was the on-display original Alexander Wang Dress made of 500+ iconic AMEXX Gold Cards cut into small sequin like circles, which debuted at the CFDA Awards. Also on display was Lizzy Gardiner’s 1995 Academy Awards dress made from 254 AMEX gold cards.
Guests also mingled through interactive elements that brought the new dining and travel benefits of the Gold Card to life.
They enjoyed cocktails in an imagined airplane cabin, dined in a pop-up-version of Grand Central Oyster Bar, and enjoyed captivating views in a gold-tufted seating area on the breezy, outdoor terrace to enjoy the sunset over the Hudson.