The 7 Characteristics of a Successful Entrepreneur

If you're an entrepreneur who's thinking about setting up an online store then we salute you. It takes a lot of courage to go ahead and run your own businesses, and if you get it right, the results are most definitely worth the risk.

But there's a difference between saying you're an entrepreneur, and being a successful entrepreneur. It takes a person with certain set of characteristics to be able to make it to the top, which is why there are only a handful of leaders, and thousands of followers.

So do you have what it takes? Take a look at this post to find out:

#1. They learn from failure

Do not be embarrassed by your failures, learn from them and start again .” - Richard Branson, Virgin Group.

Running an online store is a risky business - which financially - can be pretty scary. But that shouldn’t get in the way of working hard and testing out what works for you.

If there's one thing we can learn from some of the most successful entrepreneurs it's that you need to be resilient. If your idea doesn’t work first time, don't give up. Tweak it, find out what your niche is, and keep moving forward.

Remember, in 1997 Apple was 90 days from going bankrupt and today it's worth an estimated $700 billion!

#2. They are passionate

“If you just work on stuff that you like and you're passionate about, you don't have to have a master plan on how things will play out. ” - Mark Zuckerberg, Facebook

Passion should be the driving force behind what you do. Many people will set up a business because they want to make as much money as they possibly can. But there's a common trait amongst all successful entrepreneurs and it's that they're not driven by money, but by passion.

We're not saying ROI is not important. It's very important, but there's a different way of looking at it. Once you let your passion drive you instead of money, the better ideas you'll have, and only then will you see success as a result of that passion.

#3. They aren’t afraid to say no

And it comes from saying no to 1,000 things to make sure we don't get on the wrong track or try to do too much. We're always thinking about new markets we could enter, but it's only by saying no that you can concentrate on the things that are really important. ” - Steve Jobs, Apple.

When it comes to business, you need to be savvy. As Steve mentions above, there will be plenty of opportunities or markets that may seem attractive to enter, but you shouldn’t try and tap into every market just to make a quick buck.

Your bandwidth will be spread too thin and losing or dying programs will take up more time and assets than dynamic, developing opportunities. Stay focused on why you wanted to start your online store and say no to bad business deals.

#4. They are clear on what their brand represents

Unless you have absolute clarity of what your brand stands for, everything else is irrelevant .” Mark Baynes, Kellogg Co.

When setting up your online store then you probably think the most important aspect is the product that you sell. Well sure, your product is very important. But you're not going to sell anything unless you create a solid brand that is instantly recognizable.

The reason why brands such as Coca Cola, Google or Apple are so successful is that their brand is fully defined. They know who they are, and we know what we can expect from them. Everything that you do as a company makes up your brand, so think of it like telling a story, and ask yourself, what story do you want to tell?

#5. They empower their employees

In technology, it's about the people. Getting the best people, retaining them, nurturing a creative environment and helping a way to innovate. ” - Marissa Mayer, Yahoo.

The people that work for you can have a real impact on the success of your online store. If you look at companies that have a low employee retention rate, many think it's to do with pay. But this report shows that 43% of people leave because of lack of recognition.

If you treat your employees with respect then they will respect your company. It's such an easy thing to do, that can have a really big effect on your business. Once your employees start to enjoy what they do, they'll fast become your brand advocates.

#6. They understand who they are selling to

The more you engage with customers the clearer things become and the easier it is to determine what you should be doing .” - John Russell , Harley Davidson

In order to be a success, you need to think about who you're trying to impress. And when it comes to Ecommerce – those people are your customers. What do they like? What don't they like? Find out everything (and we mean everything) there is to know about your customers.

Do your market research and put together a buyer persona , which is a detailed profile of your customers. That way, you'll be able to effectively communicate with them. And you'll be able to tweak your product and brand so that it reflects what they want.

#7. They do things a little differently

I will always choose a lazy person to do a difficult job, because he will find an easy way to do it .” - Bill Gates, Microsoft

Following the status quo is not something that successful entrepreneurs tend to do. They break the mold, they're innovative and they're constantly evolving. A successful entrepreneur doesn’t copy their competitors, they stand apart from them and become the ones to follow.

When starting your online store, don't worry too much about what everyone else is doing. If you have a great idea that you think is going to work then go for it. There is no set in stone rule that you need to follow to become successful, you just gotta find out what works for you.

Takeaway

As you can see, successful entrepreneurs are hard working, passionate, and they truly believe in their product. Once you have an awesome idea, the next step is to find the right platform to sell that idea to the world... And that's where we come in!

AmeriCommerce offers a whole bunch of tools to help you become a successful entrepreneur – whether you want to start an online store, or need the tools to sell in person. Check out the AmeriCommerce suite of products now!

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