5 Traits Successful Entrepreneurs Share

John Gokongwei, Jr. Jack Ma. Elon Musk. These are just some of the awe-inspiring names that come up when you google “successful entrepreneur.” Is there something in their DNA that makes them different from all of us? Below are five personality traits common among the great entrepreneurs of our time. See if you have any or all of them (Then brag if you do!).

by Leah C. Eriguel, 08 July 2017

What does it take to be a wildly successful entrepreneur? If you weren’t a straight-A student, does it automatically nix your chances of being the next, well-lauded CEO? Relax. The conclusion to a new study that followed 700 kids for decades says that the risk-taking, rule-breaking student who couldn’t make it through college is more likely to be a huge success. Just like Bill Gates. But then again, he’s a computer whiz and you’re not. You don’t have to be born a genius, you just need to have a few successful person traits. Here are five personality traits common to all successful entrepreneurs. Do you have all of them? Then better start thinking of a name for your dream start-up. You may just be the next big thing.

1. Vision

How does a one-time English teacher become one of the most successful entrepreneurs in the world? Jack Ma had a vision of helping Chinese companies connect with the world. With that vision, he built a multibillion dollar business, Alibaba, which is part eBay, PayPal, Amazon, and Google Play combined. Just like Steve Jobs, he has the ability to see very clearly and simply. Like most great innovators, Jack Ma’s vision goes beyond business to a commitment for social betterment.

2. Ability to Constantly Innovate

Successful entrepreneurs don’t wait for things to go wrong before they fix it; they’re always fixing and figuring out ways to make things better. Jeff Bezos, Amazon.com’s founder and CEO, says that innovative entrepreneurs wake up in the morning thinking, “How are we going to build a great service or an even better product?” This way of thinking is a key element to innovation.

3. Aptitude to See Opportunities

The stand-out entrepreneur is always updated with the market, industry trends, and his competition. John Gokongwei, Jr. of JG Summit Holdings is one example. When he saw the trend on healthy living, his company quickly came up with the chilled green tea drink, C2. And when he saw that Filipinos preferred traveling by air, he started the low-cost carrier Cebu Pacific Air. Now 90 years old, he was recently quoted as saying, “I’m thinking of advising my company to go into digital. We’re not there yet, like Alibaba. We have to look for opportunities, if we’re going to survive the next 50 years.”

4. Passion

ECHOstore owner, Chit Juan, is one of the Philippines’ renowned women entrepreneurs. ECHO stands for Environment and Community Hope Organization. The business prides itself in being the country’s first sustainable lifestyle store. ECHOstore was built from her passion to raise awareness on the various ways that businesses can promote gender equality. What drives her is the commitment to empower women in various marginalized communities.

5. Never-Say-Die Attitude

Elon Musk is the CEO of private space transport company SpaceX and the leading electric car company Tesla. Even after three failed launch attempts of the SpaceX rocket or when Tesla Motors failed to achieve its production deadline for the first Tesla Roadster, Elon remained motivated and self-driven. He continually pushes himself to the limit and his never-say-die attitude gives him the ability to stick through it all.