What do entrepreneurs have in common?
According to a new study1 by Deluxe Corp., entrepreneurs have several traits in common, discovered after surveying entrepreneurs about their history, attitudes, and characteristics that led to their success.
It is a fact that success is never an accident, and since most small business efforts fail, it is curious what other successes have to share about their path, perhaps to help others find their own.
Entrepreneurs are optimists
Sure, entrepreneurs are often snarky and many are sarcastic, but at the heart of their business, they’re truly optimistic. This makes sense, because you don’t risk your financial stability without being optimistic about the end result, and Deluxe found that 86 percent of respondents say they are confident they can do anything they set their minds to. Persisting through the ups and downs of owning a business can wear anyone down, so passion and optimism is often the fuel for forging ahead.
Entrepreneurs embrace failure
The path to success is not direct. There are endless twists and turns, and inevitable failures. Fully 77 percent of respondents noting that they would rather learn from failure than never try at all. Entrepreneurs that have had success understand that there is risk involved, and taking risk is inherent to the DNA of an entrepreneur.
Entrepreneurs tend to keep it in the family
It is common for entrepreneurs to involve their family in their business, whether it is children being exposed to the tasks and realities of business ownership, or a spouse as a partner or fellow leader, entrepreneurs keep it in the family. Perhaps it’s hereditary, with 76 percent of entrepreneurs are related to someone else who owned a small business.
Entrepreneurs want to be the boss
The truth is that many people are motivated to start their own business because they want to be the boss – 54 percent of study respondents cited it as their core reason, but we suspect the number could be higher. It makes sense, though, with 89 percent describing themselves as leaders, so what better role to take on than THE leader?
Entrepreneurs get things done
Because 78 percent of entrepreneurs describe themselves as doers, and 80 percent claim to be practical, the bottom line is that entrepreneurs get things done – a critical component to getting any business off of the ground and growing it.