Small Business Success

Nine Traits of Successful Entrepreneurs

Michael Rinaldi

Entrepreneurship has been studied for quite some time.  During the 90's researchers sought to determine if there existed key predictors of success in the behavior patterns, personality traits, and other genetic or psycho-geo-demographical characteristics of entrepreneurs. 

Baylor researchers Don Sexton and Nancy Upton had done such research, and in one of their published studies, contend that nine personality traits are possessed by entrepreneurs. 

Let's look at those traits and see what they imply.

1.  Emotional detachment (being aloof) to situations. 

This trait is one of exceeding utility in an entrepreneur who engages in a high-risk or volatile business.  This may be a risky start-up, and trader (stock, option, futures market) or someone whose business is in an industry or deals with industries where volatility naturally occurs.   The entrepreneur who can remain aloof to people or situations will likely be able to think more analyitcally and hence operate with grace under pressure.

2. Sky Divers.

Yep.  Sky Divers.

They are not concerned with harm to themselves as the big picture is what is important--the big picture being what it is they set out to accomplish.  This generally does decline with age, as humans in general gravitate towards conservativeness as they get older.   Physiologically, this may correspond to declining levels of hormones or neurotransmitters---or may be due to one's insight and wisdom gained throughout time and accumulated experience.

3. Non-conforming.

Bucking the trend.  Swimming against the current.  Going against prevailing thought.

Here are your mavericks; the contrarians, who do the opposite of what everyone else is doing.   Many entrepreneurs choose to take a different path than others, which denotes a higher level of self-reliance and willingness to be independent in what they do. 

4. Risk takers.

Successful entrepreneurs inherently know that they must be willing to take risk.  They understand that they don't have all the answers, and that if they wait until everything "seems right", they lose.   The simply lack the fear that causes hesitation or trepidation.

5. Social Grace, (adroitness).

Successful entrepreneurs are seen to be able to get people to come around to their way of thinking.  They're persuasive, cool, and charming.  Further examination of this trait reveals that such a trait is fostered by the other traits as well as good communication skills, which in turn is supported by the ability to CONFRONT.  That doesn't mean confrontation or conflict is the theme of every interaction, just that they can talk to anyone about anything and be comfortable and graceful in doing so.

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