What does it take to make a successful entrepreneur? The Founder Institute says that there are four important aspects that can predict your potential success as an entrepreneur. Not surprisingly, some of the things that make for an unsuccessful entrepreneur are making excuses, emotional instability, narcissism, deceit, and predatory aggressiveness. So what makes for a successful entrepreneur? Check out the list below and see if you have what it takes.
A lot of people think of entrepreneurs as geniuses, college dropouts who have little to no experience with the “real world” but overcome the odds with their brilliant idea. While this has certainly happened, it’s not the norm when it comes to predicting entrepreneurial success. According to the Founder Institute the people with the highest likelihood of success are 34-year-olds with both domain experience and management experience. This allows them to have just enough experience to help their business idea take off but not so much that they’re burnt out.
New experiences as well as new knowledge are the driving force behind most successful entrepreneurs. They have a nearly insatiable thirst for knowledge and it often leads them to challenge accepted norms and find new and more efficient ways of doing things. Those who are happy with the status quo rarely make successful entrepreneurs. Successful entrepreneurs must also be positive thinkers, creative, and seeking adventure in every aspect of their lives.
High Fluid Intelligence
You might think that this aspect means that a high IQ is essential to being a successful entrepreneur but that isn’t actually the case. High fluid intelligence means that a person can quickly learn new rules and information and efficiently apply it to new problems. Abstract thinking, logic, and pattern recognition combine to make the entrepreneur able to adapt to a constantly changing playing field, allowing them to stay on the cutting edge at all times.
A flexible type of agreeableness is also an essential aspect of the successful entrepreneur. Cooperation and consideration joined with straightforwardness, when necessary, are what make the perfect combination for a successful entrepreneur. Someone who is sincere and takes in the emotional climate of the people they’re working with will easily win people over but they also must be able to take charge and be harsh if the situation warrants it. This is a delicate balance that is essential to the successful entrepreneur.
Want to See if You Have What it Takes?
This Wednesday, June 18 from 6:00pm – 8:00pm, there will be an Entrepreneurship Skill and Competency Assessment seminar. It will be held at the CPCC Harris Campus in Charlotte, NC. It’s a free event that can help you determine if you have what it takes to be a successful entrepreneur. A free assessment profile will be administered to help you determine your strengths and weaknesses and set you on the path to success.
At Ballantyne Executive Suites we love helping discover potential new entrepreneurs and new business ideas! That’s why we also enjoy highlighting these great events in the Charlotte area. If you have any questions about the event be sure to call customer service at 704-330-4223. We hope this helps you take the next step toward your entrepreneurship dreams!