There are many resources available that list the characteristic traits of an ideal entrepreneur, including what you should be masters of and, what natural abilities and behaviours to display.
But, most business builders from all over the world, and varying walks of life, have found incredible success launching their own company without fitting into every entrepreneur stereotype perfectly.
Many successful business owners had a good number of traits that nurture natural ambition, determination, work ethic and creativity.
They were able to learn other important skills on the job as they built an enterprise from scratch. No one is perfect, which is actually quite useful as some of the best ideas and innovations result from imperfections or errors.
Likewise, entrepreneurs should not shrug off the opportunity to be a business builder, just because they are lacking a few typical qualities associated with determined business personas.
Rather, they should consider the strengths they do possess and focus on leveraging these talents toward a profitable endpoint, allowing room for growth and increased skill sets along the way.
While some characteristics of a long-term entrepreneur may be of less importance and can be developed over time as the company progresses, others are an absolute must in order for any entrepreneur to be successful.
One of those characteristics is: confidence.
Throughout the years, I have met many great entrepreneurs who lack external confidence and, a great many lesser entrepreneurs who have confidence in spades. I can say without a doubt that the confident entrepreneurs often build far more successful businesses.
An entrepreneur who does not have the strong will and unflagging spirit to see a business through to the end, will usually give up as the pressure and challenges of day to day business increases within the business lifecycle.
Furthermore, a lack of confidence in the business idea or, their own ability to carry a concept into a real venture, will also make it nearly impossible for entrepreneurs to weather obstacles on the path toward profits.
Investors will not team up with a business builder who is not even in full support of the idea on the table. Staff will not be motivated to operate at optimal levels when conditions become challenging and resources are stretched thin, if the founder is not confident in success.
Entrepreneurs must not only understand a business idea’s value in the market to the consumer, but be passionately enthralled with the concept almost to the point of obsession.
Building a business from the ground up takes a lot of time, energy and perseverance to create a strong foundation. Without a passion for and confidence in the idea, entrepreneurs will not have the strength or willpower to give the necessary gusto and enthusiasm a burgeoning business needs to get off the ground and make a statement in a new market.
Entrepreneurs must be leaders with both staff and the surrounding culture. A confident person gives off an air that others respond favourably to, making it easier for that person to explain a concept or idea to eager listeners.
If a business builder fails to exude this confidence to staff, investors or potential consumers, there will be little attention paid to the idea and it may fail before it had a real chance at evolving into something significant.
To gain a deeper insight into this matter, I recently caught up with Anfernee Chansamooth, the founder of Confidentpreneur. Anfernee is a mentor for entrepreneurs looking to develop their confidence both in business and in life.
Throughout the past couple of years he has had the privilege of spending time with hundreds of entrepreneurs from all walks of life. In doing so, he has uncovered five key characteristics that separate entrepreneurs who ooze confidence, from those who simply give up when the going gets tough.
These are the five things every entrepreneur needs to be confident.
1. Have a vision
Have a clear vision of what you want for your self, your loved ones, and your community. Leaders and successful people have very strong and compelling visions. Furthermore they can articulate them very quickly and easily.
If you cannot clearly describe your vision in less than 180 seconds, and in language that most people can relate to, then it will be very difficult for others to support you.
2. Know yourself
You need to gain a deep understanding of your core values and desires.
Confident entrepreneurs dedicate time to really digging deep and understanding what motivates and inspires them on the inside.
This level of inquiry serves as a barometer for their own success. They realise that unless any project, opportunity or connection is in direct alignment with their personal values, then it’s simply a distraction that will move them away from creating the results that they envision.
3. Being able to get back up again
Every entrepreneur needs to practise failing and, getting back up again. This will happen again and, again.
Confident entrepreneurs understand that fear of failure and fear of success can be a real impediment to progress. So, in order to overcome this, the faster they can fail, the faster they can learn from the experience, adjust, improve and, move on.
The first version of anything will, more often than not, be far from perfect. But, unless the product or service is released for testing and feedback, then there’s a risk that it will never ever be released and opportunity is lost. Practise taking imperfect action.
4. Plan for success and allow for change
Confident entrepreneurs understand that failing to plan, is planning to fail.
They also appreciate that the only consistent thing in life is change.
So, being flexible and not getting attached to the outcome, is equally important.
Another element to note is, whether or not you’re creating a business to support the lifestyle that you want or, are you allowing business to dictate how you live your life?
Start with the end in mind.
5. Be prepared to ask
Be ready to ask for what you want, repeatedly, until you get it.
Every confident entrepreneur learnt that a bulldog-like attitude of persistence reaps tremendous rewards.
If one way doesn’t work, then try another way. Be prepared to keep trying until you either get what you want or, you get a valuable lesson in what’s really important to you.
The question is “how bad do you really want it?”
Confidence can be learned.