Building a company from the ground up requires a tremendous amount of…
…confidence, creativity, innovation, motivation, self-awareness, persistence and focus.
It’s the reason why everyone can’t make it as an entrepreneur.
Here are some of the ways entrepreneurs see the world differently from the average person:
1. They See Money as a Way to Make More Money
When most people get money, whether it’s by winning the lottery or receiving a bonus, their first impulse is to utilize it by buying something like a new car.
When entrepreneurs receive an influx of money, they search for a smart way to invest it in a business opportunity that can yield an even higher return.
They consider money as a source of their future investments. They make plans and never think of wasting the money somewhere else. This self-restraint becomes a habit.
2. They Have an Ability to Become Intensely Focused
Time and attention are the only truly finite constraints. Successful entrepreneurs are absurdly conscious of that fact and tend to become highly organized and intolerant of inefficiencies. They’re laser focused and try to maximize their time in the best way possible.
3. They Manage to Be Positive Realists
To make smart gambles—and that’s what becoming rich entails—you need an honest appreciation of odds that few possess. Successful entrepreneurs tend not to be too pessimistic or too optimistic.
They know that ups and downs are a part of their journey to success and, hence, always proceed with a backup plan.
They’re able to understand that, for a large number of reasons, their venture can collapse entirely. They adequately prepare for difficulties, but have enough idealism to take on big risks.
4. They See Obstacles as Opportunities
Average people see difficulty as a chance to give up, but entrepreneurs see unexpected challenges as a way to make their companies even stronger.
Thomas Edison perfectly illustrated this when he used the accidental destruction of his production plant in 1914 as a way to rebuild his business in a streamlined way and get his team to work harder and more efficiently.
Within a year, his company had not only recovered, but was bringing in more revenue than ever before.
5. They Focus on Opportunity Cost
Entrepreneurs make every decision by comparing options and seeing which one will yield the most value. Whatever they do, they make sure the value created is larger than the cost of resources used. Regular people tend to focus on expenses. Remember those driving around parking lots for 30 minutes just to save 5 minutes of walking?
6. They Understand the Business World and Current Scenario Better
This quality, if not understood better, can prove fatal for a young entrepreneur and the startup world. It hurts to see bright engineers, who have an amazing product but have no idea how a business model works, how they will raise money, or how to market and position themselves in the competitive landscape to succeed.
7. They Think of Ideas beyond Their Capabilities
True entrepreneurs are always thinking about growth opportunities. Rather than act practically and work within their comfort zones, they push themselves into situations that will require them to stretch their skills or force them to recruit more talent to turn their aspirations into reality.
8. They Have Vision
Entrepreneurs are driven by the idea that they have the solution to a certain problem, and they need to implement it. And they do it without fear of being mocked or rejected for trying things differently.
Entrepreneurs see something that needs to get done; a product that must be offered a problem that must be solved…
…and they feel so deeply about these things that they can face the opposition when starting a business.
9. They Have Something to Prove
They have high levels of self-confidence, a sense of inner self-belief that drives them and keeps them motivated; it’s extremely important for them to believe they are special. They work hard to prove it and realize their dreams.
10. They Are Self-Aware and Optimistic
A young entrepreneur needs to have a bulletproof mindset and be able to influence others even during the worst times. There are ups and downs in business, and that has to be tackled with confidence.
Also they need to be well aware of their weaknesses and strengths and constantly build up areas where they are lacking.
11. They Are Paranoid, but with Perfect Vision
I believe the best entrepreneurs develop a healthy balance of paranoia and confidence. They’re vigilant and realistic while, at the same time, never lacking the gumption to believe their vision is right.
12. They Are Intuitive, Creative, Productive, Persistent, Innovative and Patient
To sum up all the above points, I think the above traits listed are enough for someone to become a good and successful entrepreneur and these traits do make them stand way ahead of other people.
curated from mobe