Gallup did a study of entrepreneurs in Nebraska, USA. They studied hundreds of small business owners. Asked them questions, did surveys and collated data. It was observed that some entrepreneurs were more successful than others. Some people were able to easily conceive and develop an idea, start a venture, grow it and successfully create a stable business while others failed at every step.

Intrigued by the results, they started another research and this time, interviewed more than a thousand entrepreneurs. They studied their behavior this time and figured out that there are 10 common traits of highly successful entrepreneurs.

External Factors Apart

The study was focused on behavioral aspects apart from the external factors like the money you invest, the industry you are in, the kind of knowledge, skills and expertise that you may have. Depending on how successful they are, entrepreneurs have different measures of these 10 traits. That's what the research report finally came up with.

Something About You

If you are an entrepreneur, I bet you have one or more of these traits and you exhibit these traits on a daily basis. These are inherent behaviors that will make entrepreneurs what they are. It's not that these are born-gifts; most of these behaviors can be learned.

The very fact that you chose to be an entrepreneur proves that you have one or more of these traits. Let's explore all the 10 traits from the study.

Trait #1 - Focus:

Entrepreneurs have extremely laser sharp focus and they base their decisions on what they have observed or with a focus on the profitability or business growth. They are always focused on goals, targets and they go after that and achieve it. This is because they have intense focus in them and I'm sure you have got very good focus too otherwise you wouldn't be going through this article in the first place.

Trait #2 - Confidence:

Entrepreneurs always have this in them; they have high levels of confidence. It is not as high as over-confidence that usually happens to most entrepreneurs. They have this sense of being confident, they have that passion and these are the traits that helps them start their own business in the first place. They go after their peers, people and explain to them passionately, confidently that their solution is going to work.
 
Sometimes it works and sometimes it doesn't but they do not lose their confidence. Even though some of them lose their money invested in business they will never lose their confidence which is inherent in them and that makes them successful entrepreneurs. I'm sure you have got this extraordinary confidence in you and that's the reason you are an entrepreneur.

Trait #3 - Creative:

As an entrepreneur you think out of the box, out of context and you know you can come up with innovative solutions. And innovation is another key concept and can also be integrated with being creative. Entrepreneurs are always creative thinkers.

Trait #4 - Delegate:

Entrepreneurs are very good at delegating. Sometimes when you are just starting or bootstrapped, you don't have the liberty to delegate the work but as soon as they become comfortable, they have this laser sharp focus and they will start focusing on what they can do best and for the rest of the things. they know how to find people and how to delegate important tasks to other people who are good at what they are doing.

Trait #5 - Determination: 

Entrepreneurs have very strong determination. They go after their goals, challenges and do not hesitate to take responsibilities because they have that determination and drive inside them to go after what they want and get it. That's the kind of extraordinary determination that you must have as an entrepreneur. You don't give up on your dreams easily and that's the reason why you are an entrepreneur.

Trait #6 - Independent:

Entrepreneurs are independent. They don't like to take commands; they don't like to work under someone else. Typically, they don't like to take orders; they make orders. They are the commanders of their army. Even though sometimes it may so happen that when entrepreneurs just start out, they are the only person or they may have a group of people with whom they start with, but you, as an entrepreneur will always like to be independent because that's what drives you to be an entrepreneur in the first place.

Trait #7 - Knowledge Seekers:

Entrepreneurs read lot of books, they are always in the look out for knowledge and try to find solutions to problems. Even though sometimes they come across a problem on a topic that they are not related to or know about, they still go out and find a solution by building their knowledge by reading books and seeking knowledge in all different forms. You can entrepreneurs reading a lot, watching documentaries or belonging to social networks so that they can exchange their ideas, knowledge and try to solve a problems most of the times.

Trait #8: Promoters:

Entrepreneur are promoters they know the best about their business. They are always trying to promote their business, sometimes it is also known as advertising but most of the times the promoter is so passionate and know so much about their business, in and out, that they are excellent at promoting their business. Sometimes I have seen when I worked as a media and publishing consultant for many businesses and what I have understood is that the business owners or the entrepreneurs are the best persons to talk and promote their business. Nobody else can do this or tell others about their business like them.

Trait #9: Relationship Builders:

Entrepreneurs focus on building positive long-term relationships between their joint-venture partners, customers, service providers, employees, financial consultants and business strategists. They always tend to develop, nurture and grow their business relationships and look for long-term benefits. They normally do not lose relationships quickly; they always tend to keep the relationships going because they know the value.

Finally Trait #10: Risk Takers:

Entrepreneurs are known for taking risks. They have the ability to take risk most of the time. Nothing can stop them from achieving their dreams. If they know and believe that their solution works, they go out and do it even when it involves financial risks.

These are some of the traits or behaviors that will affect the actions of entrepreneurs and I hope you can identify yourself as an entrepreneur with 4 or 5 or more or maybe all the 10 traits of highly successful entrepreneurs. The very fact that you are an entrepreneur today is the proof that you have more of these positive traits.

One more thing that I would like to add at the end of this article is if you are short of any traits in this list please understand that you can go back and strengthen the trait that you want to improve upon. So knowing this inherently will set you apart.