The Top 5 Qualities of Entrepreneurs
By: Hari Ravichandran
Tags: Business, Success, Entrepreneurship, Entrepreneur, Startup

The Top 5 Qualities of Entrepreneurs

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The Entrepreneur Insiders network is an online community where the most thoughtful and influential people in America’s startup scene contribute answers to timely questions about entrepreneurship and careers. Today’s answer to the question “What qualities make an amazing entrepreneur?” is written by Hari Ravichandran, founder and CEO of Endurance International Group.

Entrepreneurship isn’t for everyone. It can be a long, lonely, and stressful road to build a company from the ground up, but some business owners, including myself, thrive on it.

Based on my experiences, I believe there are some key traits and qualities that entrepreneurs should consider as they embark on their journey:

Have a vision

One of the most important qualities for an entrepreneur is to have a clear vision for the type of business and product they want to build and audience they want to serve. When you first start out, in order to put the work into making your vision a reality, you need to have the conviction that your product is a good one and that there’s a need for it. You are the architect of your vision. If you aren’t willing to defend and fight for your business, no one else will.

Tenacity

Starting a business is often a long and arduous process. It’s not for the faint of heart. You will face an endless array of challenges and will need tenacity in order to succeed. You need to have the belief that you’re following the right path, even when things go wrong and you need to course correct. It’s what has gotten us through some of our toughest times, which is why we make sure to hire those who embody the entrepreneurial spirit and understand the hardships of our customers.

Be greedy

You need to be greedy for your business and make sure it has the best resources to help it succeed. This means that you need to make sure all elements of your business (i.e., talent, culture, etc.) are set up for long-term success. Being greedy isn’t a negative attribute; it’s about having the conviction to fight for the best things to make your business successful. There is a big difference between being greedy for personal gain vs. being greedy for your business.

Always adapt

Entrepreneurs need to be able to evolve as factors change that may impact their business. It’s about aligning your vision and stretching your comfort zone. Many entrepreneurs find that as they achieve more scale and growth, they may need to start thinking about their business differently, which can lead to even greater success. During the dot-com bubble, I experienced firsthand the need to pivot or become irrelevant. Industries evolve and you need to stay ahead of the curve in order to succeed.

Be humble enough to ask for help

Although starting a business may have been your brainchild, you need to know when it’s time to ask for help. The starting points you originally plotted for your business may change as you go along, so you need to be humble enough to acknowledge when you need to ask questions and learn from others. Even though entrepreneurs often like to have things done their own way, getting external feedback can help you get a different perspective and increase your odds of success. If you’re thinking about starting a business, I would encourage you to review these qualities and think about whether you’re up for the challenges that being an entrepreneur entails.

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