5 Personality Traits Of An Entrepreneur

5 Traits Of A Successful Entrepreneur
affiliate marketing

Are You One Of The People Who Is Always Thinking About Having Your Own Business?

There are a lot of us around.  I’m one of them.  All the years that I was working for somebody else, I felt like I wanted to have the independence of having my own  business.  It took me a long time to do something about it. In fact, it took my retirement from working for someone else to get me to finally take the plunge.

Why did it take me so long?

Well, I needed the security that a steady paycheck brings.  Business startups are known to lose money for the first two years, and I didn’t have the means to cover that long a period.  I had a wife and kids to think about.

I think that stops a lot of people from striking out on their own.  It’s a big step.  Now that I’ve retired, I can get to work on a business of my own.

A lot of people don’t wait for retirement to become an entrepreneur.  Some have it in their makeup to get going no matter what.  What kind of people have what it takes?

5 Characteristics Of Successful EntrepreneursForbes Online Recently Published An Article On 5 Traits Of An Entrepreneur

Here’s the link to their article.

And here are the 5 traits.  I’ll try not to plagairize the Forbes article, but I will list the traits in the same order.

1.  Passion

To me, this one’s pretty obvious.  If you don’t have that inner drive, you will give up after the first, or the second, or the third  hiccup in your efforts.  Are you willing to work crazy hours for as long as it takes?  Are you willing to work for little or no pay while you are bulding your business?  Are you willing to do what it takes?

That’s listed as number one for a reason, I think.  Passion forms the basis for all the rest.

2.  Resilience

You are pretty much guarenteed fo fail at some point in your process.  In fact, you are prett;y much going to fail more than once.  Do you have what it takes to pick yourself up, dust yourself off, and get around, over, or under your failure?  Are you willing to keep trying and inovating until you succeed?

Here’s a quot from Forbes quoting Winston Churchill, “Success is the ability to go from one failure to another with no loss of enthusiasm.”  The failures must not get you down, or make you quit.

Walt Disney, Donald Trump, Steve Jobs, Bill Gates, Henry Ford, and Thomas Edison are some of the famous businessmen who had to overcome failures (The Forbes article).

3.  Strong Sense Of Self

Self-confidence and self-assurance may be lacking in some of us, but they are a large part of the entrepreneur’s makeup.  Do you believe in yourself?  Are you sure of your abilities to accomplish the things that you want to do?

Can you make important decisions without having to consult with others?  There is nothing wrong with getting other’s point of view, but if the final decision is yours, can you make it with confidence?

If you don’t have that confidence, you will not be able to plunge in and make the tough decisions that may be required for you to move forward.  Entrepreneurs have the ability to make crucial decisions when they need to.

4.  Flexibility

Rigid people don’t make good entrepreneurs.  As you build your business, you may have to change things.  In fact, you probably WILL have to change things as you begin to see how your plans are going and better ways become apparent.

People who can’t adapt to changing circumstances won’t be able to take advantage of those circumstances for their benefit.  That’s detrimental to any business.

5.  Vision

Are you always noticing ways that something can be improved, or some process made better?  Do you have ideas for new spin-offs of existing processes or products?  Do you have ideas for something totally new?

Can you see the light at the end of the tunnel?

Entrepreneurs can see the end from the beginning.  They can see where they want to go, and then find a way to get there.

There you have it.  Those are the five traits of an entrepreneur listed by Forbes.

Since you’ve read this far, here’s a short 5 minute video by Evan Charmichael on 5 traits of an entrepreneur.  His are slightly different, but it’s worth watching.

Here’s My Story, If You’re Interested.

In my own case, I am starting an online marketing business.  I believe that the online world is the future for business success.  I want a business that will earn for me even when I’m sleeping, and the internet is the best way, I think.

I settled on affiliate marketing.  I chose that field because I don’t have to manufacture or store products.  With affiliate marketing, I can make an agreement with established businesses to advertise their products on my website and in my blog posts, like this one, and if a visitor to my site clicks on one of the products I have listed, and makes a purchase, I earn a commission.

It’s the best for both worlds.  I earn money, and the business who has the product earns money.  They save on advertising expenses, which gives them the encentive to work with affiliates.

Visitors to my website can purchase at any time of day or night.  I don’t have to have a store open at certain hours.  I don’t have overhead.  Once I am established, I can earn a significant income from then on. And, I can have customers from all over the world.

The internet is a big place.  Millions of people have websites, and millions of people are trying to make money online.

Many do it by trying to scam the public with get-lrich-quick schemes.  Sadly, there are a million ot such sites online.  They give the rest of us a black eye.

The place I found that got me started is called Wealthy Affiliate.  It’s a site that offers the training REQUIRED to become successful in affiliate marketing.  You can try a shortcut, and many have, but if you don’t learn the ropes from a trusted and qualified training site, you are doomed to try to hit-and-miss your way to success.

Wealthy Affiate has the training courses, and a community of like-minded people who have the same goal that you and I do – online success.  They are willing and happy to answer questions and give advice tor your success.

Here’s the cool part.  You can sign up for FREE!  No credit card required.  Under the free plan you get 10 lessons and 2 free websites to get you started, and for the first 7 days you get the same benefits that a premium member gets, to help you learn for yourself if the program’s for you.

It took me 3 days to move from the free Starter Plan to the paid Premium Plan.  If you go premium, it’s $49 per month, or if you want to save, you can commit to a year for $349.  That’s pretty big savings. ($49 per month for 12 months is $588.)

If you want to check it out, just click on the banner below.  Do it now.  If you want to learn more, read some reviews of Wealthy Affiliate online.  I wrote one myself.  You can find it here.

Well, good luck to you in whatever you do.  Maybe I’ll see you online at Wealthy Affiliate.  Leave me a comment if you like.  Thanks for reading.





I agree with that five. Who will dare to disagree with Forbes? lol

My challenge is this: I want to coach others become more entrepreneurial, people who are stuck in dead-end jobs. But I noticed, they want the lifestyle of successful entrepreneurs, but it is obvious that they lack in one of these five mentioned in your post.

Will I try harder developing them to have these? Or, will I just move on to the next qualified person?

Thanks for your comment, Gomer.  My thinking is that you continue to work with people as long as they are at least trying to improve.  If they aren’t, then drop them.  

Wow Grant,

You have really taught me something today. I also have the desire of becoming an entrepreneur in the online business someday. But as you said, I have my fears that if I stop and I don’t succeed within a year I will not be able to survive.

But I think I need some positive thinking now. I especially like your idea on accepting the the fact that we will certainly fail somewhere along the line And just try to be resilient, very good point on that.

Also, as you said, Passion is needed, for success to follow through, since I will need to put in some hard work.

I really appreciate these good point you brought up. I’m going to think about them carefully and work on them. Hopping that something better come up. And then perhaps consider your recommended program.

thanks for sharing this valuable information

Thank you, Stephen, for your comments. You sound like an intelligent and careful man. Good luck in your life going forward.

The five qualities which you have written about is essentially needed not only for online marketers but also for the life of each and everyone.But, the way and place you have mentioned are vital because of many online marketers abandon their websites because of failures.They have to try in many ways and in a correct way.This could be done by joining the worthful platforms like Wealthy Affiliate.
Thanks for your insightful article.

Grant, this is a very interesting article. I’m interested in affiliate marketing also. This is truly an innovative field that someone with the 5 traits of an entrepreneur would love! I also like your review of the Wealthy Affiliate program. This program sounds like a platform built for entrepreneurs! Good luck with your business!

Thanks, Tama, for your comment.  If you’re interested in affiliate marketing, jump in if you haven’t yet.  Good luck to you!

Very interesting post. I am also trying out the affiliate marketing program with Wealthy affiliate. What niche did you choose? How long have you been in the program? just curious. I have been at it for about 6 weeks. I do like to write so I think this might eventually pay off and if nothing else, I am keeping my brain sharp. I wish you the best! 

Thanks for the comment, Ray.  My main niche is the MMO niche, Make Money Online.  I’m promoting WA.  I’ve got a second niche which is about cycling.  I’ve been with WA for about 20 months now.  Well worth the time and the premium membership.  Good luck with your business!

I really enjoyed reading this post. When looking at each of these five traits, and considering online marketing, each of us has to look inward and consider if each one aligns with our own personality traits. Even if one of them doesn’t quite match up exactly, we must figure out a way to overcome this obstacle and live these “ five trait” business lifestyle to become successful.

This is very organized and easy to read. I especially enjoyed the quote from Winston Churchill “ Success is the ability to go from one failure to another with no loss of enthusiasm”.

Thanks for your comment, Colleen. It sounds like you’re an entrepreneur yourself. I like your Winston Churchill quote, too. Thanks for sharing it. Good luck to you!

What an incredible article! I truly believe in the 5 traits, I receive confirmation every time I talk to an entrepreneur. You can see an feel their confidence. These people get me very motivated to keep pushing forward. I too am starting an online business with affiliate marketing, I must say it is moving kinda slow for me right now. Any tips or tricks on how to stay focused and consistent?

Hi, Alisha. Thanks for commenting on my post. I think you’ll find that as you progress in your business your ability to focus will improve. It’s hard in the beginning for us all. Once you start to get results you’ll find it easier. Read the WA success stories for motivation. Good luck!


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