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Traits of Successful Entrepreneurs

Working as an accountant, I have been fortunate enough to work closely with a variety of business owners. Throughout my years, I have observed some common traits shared amongst my most successful clients:

– They set goals and hold themselves accountable to these goals: An entrepreneur’s life is busy, goals will keep you focused. Put a plan on paper and use a to-do list (I use Todist)
– They focus on what they do best and outsource the rest: Of course you could do everything yourself but you will limit your growth if you take this approach (and burn out). Outsource the administrative tasks so you can focus on building your business
– They find ways to minimize the time they spend on tasks: Make every minute counts. As your business grows, you will find that finding free time is your biggest challenge
– They take time to recharge: Remove yourself from the action to refocus. Many of your best ideas will come to you when you are removed from the day-to-day
– They are not afraid to take risks: You only can strategize for so long. The best way to learn is to take chances and learn from your mistakes
– They look for ways to make more revenue from the same customer: Find ways to provide additional services to your existing clients. This will not only improve your bottom line, but it will add value to your relationships with the clients
– They set their business up to scale: If your client base tripled, could your current business model sustain this growth? You need to think big from day one

Feel free to share additional traits in the comments section.

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