What Do You Need To be a Fantastic Entrepreneur?

| January 29, 2016

What Do You Need To be a Fantastic Entrepreneur?

As a small business owner, there are several responsibilities on your shoulders. You’re a guiding light for your employees and you’re the face of the company for your customers. In this highly competitive world, it’s very easy to lose track of yourself and forget about those qualities that would make you an excellent entrepreneur.

You might call yourself one, but are you really one? Do you really have the drive and the skills needed to get the best results? Here’s a list of traits you should possess to be a successful entrepreneur and a leader. If you possess these traits, your chances of succeeding in business would be high.


All businesses start with an idea, a solution to a problem that customer faces. For example, a customer has a need to travel from one place to another on a regular basis. The mode of transport is the problem and buying a car is the solution. Almost all businesses experience this cycle of problem and solution.

A leader is usually the creative force behind the company. To be a great entrepreneur, you need to be the visionary who knows how stimulate the minds in your team. Possessing this vision, the ability to identity a problem and create the right solution, would make you a good entrepreneur.

Pragmatic and Realist 

Most entrepreneurs are dreamers and there’s nothing wrong with that. However, as a leader, you need to have a practical and pragmatic side to yourself as well. This side would help you keep your business steady and stable. If you’re confronted with a problem, you should be able to understand it and come up with a sound solution.

You should see your business without rose-tinted glasses. If you find that your business isn’t working out or if a product doesn’t benefit the customers in any way, it’s time to change. Pragmatic leaders act quickly and decisively when they’re confronted with problems and realities. They don’t linger and wait for the issue to get worse before acting.

Personal Sacrifice  

Most entrepreneurs and business owners are hard workers. They will sacrifice their weekends, forgo vacations, and limit their social interactions because they’re completely focused on work. Unfortunately, this is necessary. While overworking and adding to your stress won’t help, you need to sacrifice some of your time and effort for running a business.

Most small business owners understand and willingly accept that they would have to make sacrifices. If an small business owner is willing to go that extra mile, they’re a good leader.


It takes a different level of confidence to create and run a successful business. You need the strength of mind and heart to launch your own business and to leave your steady income life behind. Confidence will allow you to deal with customers and employees alike with ease.

But just confidence isn’t enough, you need to reinforce it with determination, practicality, and hard work. These traits are a mark of a truly excellent small business owner. You need to cultivate these characteristics to succeed in your industry.