There’s no one thing that can explain what makes a successful entrepreneur, but there are often common traits amongst business minded people that tend to be more successful.

Being an entrepreneur and starting your own business doesn’t necessarily mean you’re merely an original thinker. There’s more to it than just that, and more often than not the idea behind successful startups is just the beginning of a long, engaging process.

An entrepreneur is someone who is willing to take action, at whatever cost, on a specific idea in order to make it successful. There are a number of traits that’ll make someone go to the extreme in order to take such action, some which can be seen in this article.

Passion and confidence are paramount

These are two traits that go together, as you can’t truly have one without the other. If you’re not passionate about something, you won’t be confident in its ability to succeed, and vice versa.  Every good business needs a good business plan.  In this case you should consider looking to OGS Capital.

Once you have an idea for something, passion and confidence can carry you through to the end, as you are less likely to give up at any point along the way if you feel strongly about an idea. The time and effort it takes to create a successful business, or to see a groundbreaking idea through to the end, is immense.

You have to convince other people to buy into your idea, whatever it may be, both literally and figuratively, and your confidence will be contagious if you truly believe in what you are doing.

Seek out the help of other likeminded people when necessary

Surrounding yourself with people who not only challenge you to be better, but also have your best interests in mind, can help you overcome any hurdle along the way. This is especially true when it comes to your finances.

You will want a financial advisor who you can trust to make the right decisions with your money and protect your investments, ultimately helping your business entities grow. Investment and financial services, and people like Don Gayhardt, can be crucial in helping to create and protect the wealth that can make or break your success as an entrepreneur.

Take the necessary risks

Holding back when you should be taking risks will only hinder your chances of becoming successful. This is not to say that your risks should be unfounded. On the contrary, you should be willing to take calculated risks wherever they are necessary.

A good entrepreneur knows when and where to take risks from which they can benefit in the end. This may also include making mistakes along the way, as not every risk pays off in the way you think it will.

You have to be willing to make those mistakes time and time again, with the intent of capitalizing when the time is right. Forbes.com has good tidbits on the mentality necessary to become a successful entrepreneur, including taking risks when it’s necessary.

Take failure in stride

As it is incredibly hard to start your own business, or to become a truly successful entrepreneur, some sort of failure along the way is inevitable. One sign of a potentially great entrepreneur is the unwillingness to give up after failure.

It can be hard to push through and continue along a path that oftentimes ends in failure, and that’s one huge thing separates those who succeed from those who do not.

When it’s easiest to give up, will you continue to move forward and learn from past mistakes that may have lead to failures? If so, you have the mental fortitude to become a successful entrepreneur.

Look toward the future

Any startup, or any entrepreneurial idea, does not garner immediate success. It takes time to build something successful, so it’s important to look ahead. But look ahead in the sense that you are in it for the long haul, not in a sense whereby you overlook things in your immediate path.

You have to maintain the ability to not only realize your idea will take time to come to fruition, but that it will also require you to plan ahead. The future of your business relies on it.

Find your passion and stick with it

Again, a great way to become a successful entrepreneur is to start by focusing on something for which you are truly passionate. You are more likely to take risks, look forward, push through failure, and continue pursuing something you care deeply about.

It’s easy to give up on an idea to which you have no attachment. The opposite is true for one about which you care deeply. Any extra motivation you need to take the entrepreneurial path, which is not for the fainthearted, will be paramount in your successes.

The time and effort you put into your idea or startup will be crucial in finding a favorable outcome in the end. Take the time necessary to figure out if you have what it takes to be an entrepreneur so that you can be sure you have the tools needed to come out on top.

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Here is Why It’s Never Too Late for You to Achieve Something Worthwhile

Have you ever asked yourself if it’s too late to achieve something worthwhile in life. These two most upvoted responses by Marcus and Jim respectively on Quora will help you if you still have doubts about what you can do at any stage of your career.

1. Marcus Geduld, Shakespearean director, computer programmer, teacher, writer, likes dinosaurs.

Too late for what?

If you slept through your 26th birthday, it’s too late for you to experience that. It’s too late for you to watch “LOST” in its premiere broadcast. (Though, honestly, you didn’t miss much.) It’s too late for you to fight in the Vietnam War.

It’s too late for you to go through puberty or attend nursery school. It’s too late for you to learn a second language as proficiently as a native speaker*. It’s probably too late for you to be breastfed.

It’s not too late for you to fall in love.

It’s not too late for you to have kids.

It’s not too late for you to embark on an exciting career or series of careers.

It’s not too late for you to read the complete works of Shakespeare; learn how to program computers; learn to dance; travel around the world; go to therapy; become an accomplished cook; sky dive; develop an appreciation for jazz; write a novel; get an advanced degree; save for your old age; read “In Search of Lost Time”; become a Christian, then an atheist, then a Scientologist; break a few bones; learn how to fix a toilet; develop a six-pack …

Honestly, I’m 47, and I’ll say this to you, whippersnapper: you’re a fucking kid, so get over yourself. I’m a fucking kid, too. I’m almost twice your age, and I’m just getting started! My dad is in his 80s, and he wrote two books last year.

You don’t get to use age as an excuse. Get off your ass!

Also, learn about what economists call “sunk costs.” If I give someone $100 on Monday, and he spends $50 on candy, he’ll probably regret that purchase on Tuesday. In a way, he’ll still think of himself as a guy with $100—half of which is wasted.

What he really is is a guy with $50, just as he would be if I’d handed him a fifty-dollar bill. A sunk cost from yesterday should not be part of today’s equation. What he should be thinking is this: “What should I do with my $50?”

What you are isn’t a person who has wasted 27 years. You are a person who has X number of years ahead of you. What are you going to do with them?

* What I’d intended as a throwaway comment, about the difficulty of second-language acquisition after childhood, has generated interest and disagreement. I will admit upfront I am not an expert on the matter, and was mostly informed by research I’d read about.

It claimed there’s a window of childhood, after which the brain stops being able to hear certain sounds—one’s not used by a child’s native language—which is why it’s so hard to learn to speak a second language without an accent.

Some people may master it, but not many. (How many people do you know, after 25, learned a foreign language and can speak it so well, natives have no idea they’re listening to a foreigner?) It’s also challenging to learn all the idiomatic expressions that native speakers have known since they were small children.

However, since having written this answer, I’ve learned that the Science behind this is very controversial. As I’m not an expert, let me refer you to the wikipedia article (and it’s linked resources).

“In second-language acquisition, the strongest evidence for the critical period hypothesis is in the study of accent, where most older learners do not reach a native-like level.

However, under certain conditions, native-like accent has been observed, suggesting that accent is affected by multiple factors, such as identity and motivation, rather than a critical period biological constraint (Moyer, 1999; Bongaerts et al., 1995; Young-Scholten, 2002).”

2. Jim Lawrenson, Still driving…

Unfortunately for ‘real’ people, the media is obsessed with the tiny minority who succeed early and display this very publicly.

This is then amplified by the high profile ‘subject’,  for PR purposes, to perpetuate their success.

Justin Bieber, Michael Jackson, Britney Spears, River Phoenix, Justin Timberlake, Bill Gates, Jimi Hendrix, Steve Jobs, James Dean, Richard Branson, Whitney Houston, One Direction, Amy Winehouse, Mark Zuckerburg. Need I go on.

Notice a trend in there somewhere?

You are probably being influenced, (like all of us), in how you assess your own progress, compared to these people. It can be a dangerous game to play.

It takes a tremendous amount of luck, as well as talent, to get into the right position at the right time. Not many people who make it will tell you that, often preferring to put it down to their hard work.

That is because they believe that this is the case, not because they are intentionally misleading you. I know that because, to an extent, I’ve done it.

You also may not have considered that even if you were on the list of young successes. It is very hard to follow that early success later in life. Your expectations of yourself are higher and based on that youthful virtual reality you experienced once, you can never improve on your past.

That can be a tough pill to swallow and despite all the money in the world, many struggle with that.

Look at any list of young successes from just 10 years ago and count the number who have disappeared, died or been in rehab. Lots.

Half the list of super successful people above are dead for a start off.

This is not an excuse for you to give up trying however. 

Try to think of life as a long road journey.

The journey can be as exciting or as boring as you choose to make it.

Wherever you are on the journey, there are new experiences, as long as you welcome them and seek them out. Some you can plan in advance.

Often, you need to get out of the car to experience them. Otherwise, you will see them flash past the window and feel like it is too late to stop.

  • Do something every day which contributes to your progress on the journey and always be learning and experiencing new things.
  • Don’t put off experiences which can be done today by getting out of the car, for a tomorrow which may never arrive.
  • Build a vision of where you want to get to in 1, 5 and 10 years and then think about the steps you need to complete in the next 30 days to move towards it, but don’t set deadlines that are too harsh. Do the first step on the list today.
  • Like any long journey, you will hit diversions, obstacles, traffic lights, speed bumps, closed roads and all manner of other problems. There will be crashes – you might be involved in them. Like any long road journey, if you want to get the destination enough, you won’t turn back, you will reroute. The car might break down or need repairing. Just accept it will happen now, and carry on.

Most importantly, don’t wait for all the traffic lights between your house and your destination, to turn green at the same time, before you set off.

They won’t!

Get in the car and start driving.

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