“My biggest motivation? Just to keep challenging myself. I see life almost like one long University education that I never had — everyday I’m learning something new.”~ Richard Branson
What separates successful entrepreneurs from those who give up on their dreams, even though they have the entrepreneurial spirit?
Answer: It’s confidence!
Successful entrepreneurs have rock solid confidence. Confident entrepreneurs have fears, insecurities, dark days, many moments of wanting to give up, but their belief in themselves and their abilities to make it, no matter what, keep them pushing forward to reach the top of their Mount Everest.
Are you a confident entrepreneur? Do you have what it takes to make your dreams real?
Here are 9 traits of confident entrepreneurs
1. Creativity and research
Don’t tell me how talented you are. Tell me how hard you work. ~ Artur Rubenstein
Confident entrepreneurs do not allow the lack of skills, knowledge, talent or experience stop them from pursuing their desire. They do the work, tap into their creative genius, research, test, and launch.
At age 38, David Ogilvy decided (even though he didn’t have any experience or education) to pursue a career in advertising. He mastered it, and reshaped the advertising industry.
2. Challenges are welcome
Challenges are what make life interesting. Overcoming them is what makes life meaningful. ~ Joshua J. Marine
Some entrepreneurs give up on their dream of controlling their destiny when too many challenges knock on their entrepreneurial door. Not the confident entrepreneur, they run towards their challenges. They understand that each challenge brings them closer to their desired outcome. They know that overcoming challenges quickly leads to faster results.
Confident entrepreneurs are empowered by their challenges – they learn, re-evaluate their strategies, and find creative solutions to overcome them.
3. Integrity rules
“The pursuit of excellence is less profitable than the pursuit of bigness, but it can be more satisfying.” ~ David Ogilvy
Confident entrepreneurs do not have to live up or down to anyone’s expectations. Personal and business decisions are influenced by their core values. They’ll walk away from a profitable venture if it’s not aligned with their moral compass.
They honor their commitments and will let you know (excluding unforeseen circumstances) when they can’t. They are comfortable owning their mistakes, and refuse to take the easy road of blaming someone else.
Confident entrepreneurs do not have to belittle or undermine others to feel successful. They treat everyone with respect and work hard to earn and keep the trust of their customers, team, partners and/or business associates.
4. Growth mindset
Certainty is a cruel mindset. It hardens our minds against possibility. ~ Ellen Langer
If you have these traits you may have the mindset of an entrepreneur:
- Action driven
- Believe in yourself
- Quick thinker
- Tolerance for stress
Ultimately, it’s not the economy, money, knowledge, skills or up-bringing (even though they are important) that determines if entrepreneurs are going to be successful, it’s their mindset.
Confident entrepreneurs know that the right mindset will awaken their entrepreneurial spirit and help them achieve their goals.
According to Dr. Carol Dweck from Stanford University, there are two sets of mindset – a growth mindset and a fixed mindset.
A growth mindset is the mindset of the confident entrepreneur.
Individuals with a growth mindset believe they have the ability (if they believe it important) to learn new things. They’re adaptable, challenges and obstacles are opportunities for growth. They don’t take criticism personally, but constructive criticism leads to personal introspection: “how can I improve my situation, what do I need to do differently to achieve my results?”
Another important attitude of a person with a growth mindset – the success of others is not a threat but a source of inspiration.
5. Insecurities become motivators.
“We’re going to have to let truth scream louder to our souls than the lies that have infected us.”~ Beth Moore
One of the biggest challenges entrepreneurs face is their own insecurities, negative self-talk that keeps their success at bay. Confident entrepreneurs use their insecurities to fuel their success.
Barbara Cochran, real estate mogul and Shark Tank host, in her talk at entrepreneur.com, shares how she used her insecurity to ignite her passion for success. She was called stupid when she was in school, and she worked hard to not live down to their expectations.
6. They take risks
“But he’d learned long ago that a life lived without risks pretty much wasn’t worth living. Life rewarded courage, even when that first step was taken neck-deep in fear.” ― Tamera Alexander
Confident entrepreneurs do not take risks blindly, they take calculated risks. They research and if the benefits outweigh the worse outcome, they’ll move forward. However, before moving forward, they’ll mentally connect to the worse outcome, accept it on an emotional level, and see themselves moving on with confidence and determination. Even though they’ll recover from the worse outcome, confident entrepreneurs put strategies in place to avoid it.
7. They give themselves permission to fail … big time
Would you like me to give you a formula for success? It’s quite simple, really. Double your rate of failure. ~ Thomas Watson
The fear of failure keeps many from pursuing their dreams. This fear weakens the courage muscle, and it keeps them trapped in the “what’s possible mindset”. The funny thing about the fear of failure is that you create the very thing you’re trying to avoid; you’re a failure for not trying.
Thoughts of the confident entrepreneur “If I don’t take action failure is guaranteed, I’ll take action and increase my chances to succeed. Confident entrepreneurs know that failure is where their success begins.
8. They build their courage muscle
There has to be this pioneer, the individual with the courage, the ambition to overcome the obstacles that always develop when one tries to do something worthwhile that is new and different. ~ Alfred P. Sloan
At their core entrepreneurs are courageous; confident entrepreneurs welcome opportunities to build their courage muscle. They take calculated risks, move through their fears and insecurities, expand their comfort zone to take on new challenges, and explore innovative ideas.
Geoffrey James, in his article at Inc.com, made this bold statement, “all great entrepreneurs have courage,” and he shares the reasons why (excerpt)
- It takes courage to forego the predictability of a corporate job.
- It takes courage to sacrifice your nest egg to your startup.
- It takes courage to take the risk of failure.
- It takes courage to make your dreams into reality.
- And it takes courage–lots of it–to hand over the reins when your startup grows beyond your ability to manage it.
That’s why entrepreneurs are–rightly–the true heroes of our modern world.
“The mediocre leader tells. The good leader explains. The superior leader demonstrates. The great leader inspires.”~ Gary Patton
Mentors are trustworthy and reliable source for wisdom. Confident entrepreneurs accelerate their success by learning from their mentors’ successes and failures.
The entrepreneur speaks, the mentor listens.
The entrepreneur is stuck, the mentor shares a new point of view.
The entrepreneur feels hopeless, the mentor encourages.
A mentor (the right mentor) has the mentee’s best interest at heart and wants to see him/her succeed.
It’s a wrap
Entrepreneurs are change agents; they drive the economy. Not every entrepreneur has a confident mindset. The confident entrepreneur is open to change – the economy, customer needs, marketing etc.
They aren’t stuck in their egos, and will walk away from a business if they decide it’s the right thing to do. In times of chaos and uncertainty they stay focused and flexible.
Confident entrepreneurs have the I can do it mentality, they don’t wait for things to happen they make them happen.
Do you have a trait to add to this list? Are you a confident entrepreneur?
Do you want to be a confident entrepreneur? If you answered yes, you’ll benefit from my FREE strategy session. Contact me today. You’ll be glad you did.
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