The DNA of an Entrepreneur: Unpacking the Top Five Traits for Success

I have individuals reach out all the time asking questions about becoming an entrepreneur and I would have to say that the first thing I tell them is “It’s not for everyone”. The truth is not everyone can be an entrepreneur. It takes a certain “DNA” that must be engrained into your mind and body to succeed at this. Since it is a FAQ I took the time to put together the top 5 traits you MUST possess in order to even consider taking the first step toward entrepreneurship

1.Be a visionary

To succeed in business, you need to have a clear vision of what you want to achieve and how you plan to get there. I find this is where most get hung up on right off the bat. “Well I want to start a business…I just don’t know what”. YOU NEED TO KNOW or you can’t even get started. Take some time to dig deep within yourself and figure out what you are GOOD at, first and foremost. You have probably read in other blogs “look to what you are passionate about”. I disagree. What you are passionate about is all fine and dandy but it won’t translate to a successful business. For example, you are passionate about baking but your baking skills are at best mediocre. That’s not a good option for you then. Ask yourself “What am I good at, what do I excel at” and go from there. Once you have that portion figured out then create a long-term vision for your business and break it down into achievable short-term goals. 

2. Build resilience

Starting a business is the most challenging & scariest thing you will EVER do. I speak from experience. Setbacks, road blocks and failures are inevitable. Building resilience will help you stay focused and bounce back from adversity. I have wanted to quit

more times than you know but it is my resilience that has kept me going. As my dad would say “I should have quit 10x over but I’m too stupid to quit.” That quote makes me laugh because if you had to look at the hardest moments I have faced with growing the company from the outside looking in you’d say “Is she stupid, just quit already”. Cultivate a mindset that embraces challenges and treats failures as opportunities to learn and grow. Weak minded people will never make it in this arena. Buckle up.

3. Foster creativity

Entrepreneurship requires creativity and innovation to stand out in a crowded marketplace. Even if you are “lucky enough” to get into a market that isn’t flooded you will still need to be on top of being creative. There is no easy road here, you need to find unique solutions to problems and develop products or services that are distinctive and valuable. You must always be willing to seek out new ideas and perspectives, and be willing to take risks and try new approaches. As I always say, “A business that is not evolving is dying.” 

4. Embrace risk-taking

If the thought of running and blindly jumping off of a cliff scares you then entrepreneurship is not for you. Taking risks is a necessary part of the process. To be successful, you must be willing to take risks and make bold decisions, even when you don’t have all the information. Embrace uncertainty and learn to make informed decisions that balance the potential rewards against the risks. No matter what level your business is at you will always be faced with risks and it never gets easier. You must trust yourself & the process. Being unable to make risky decisions quickly and confidently will cripple your company’s growth.

5. Cultivate passion

Last on my list is passion. This is what drives entrepreneurs to overcome obstacles and achieve their goals. Cultivate a deep passion for your business and stay committed to making it a success. Be willing to put in the hard work and long hours required to achieve your goals, and maintain a positive attitude even in the face of challenges. When I say long hours I mean it. When 95 was in its infancy stages I worked 12-18 hour days 7 days a week to get the job done. I couldn’t afford nor did I want to hire employees right off the bat so it was all on me. In my opinion you should wait as long as possible to start hiring employees as it is every company’s highest expense and will cause you the most headaches along the way. Do what you can with what you have (your own two hands) for as long as possible. 

I hope this blog helped answer some questions you may have had about becoming and entrepreneur. I am by no means trying to scare you out of the idea just being completely transparent about what it takes. Entrepreneurship has been the most rewarding journey but also the most stressful. Ever heard the saying “more money, more problems?” I can concur. It will never be easy but it will be worth it.