Risk propensity, free performance, and constant innovation are three of the elements that nurture the career of successful entrepreneurs. Do you have the qualities of a winner in life?
The importance of entrepreneurship in modern society is undeniable. In fact, it is a valuable source of innovation, contributes to the development of the economy, increases market competition, meets the needs of the public, and inspires others to be successful.
And although success depends on various factors, some personality traits are characteristic of those who succeed as entrepreneurs.
In this article, we collect several of the factors that seem essential to becoming a successful entrepreneur, leader,
The ‘motivation of success’ is the predisposition to overcome the challenges and achieve the goals, beyond the objectives set. People who score high on ‘achievement motivation’ prefer to take on the challenging tasks, rather than getting involved in routine tasks. Also, they assume responsibility for their business actions, like to feed themselves on feedback and look for new ways to improve the goals and purposes that have been raised.
The book ‘Psychology of Entrepreneurship,’ edited by psychologists J. Robert Baum,Michael Frese, and Robert Baron, argues that ‘achievement motivation’ is one of the fundamental pillars to succeed in today’s world. And explains that “It is essential to value the ‘motivation of success’ if one wants to understand how success is achieved and developed in business life.”
Also read: 10 Signs You Were Born to be An Entrepreneur
Innovation is one of the central concepts to understand the success of entrepreneurs. Entrepreneurship is almost synonymous with innovation. A person who dares to create is interested in questioning the status quo and in doing things differently, discovering new products, and adopting production processes and technologies that benefit society. Everything that is innovative is directly related to the ability to achieve success.
There are many cases of entrepreneurs who have left their company and have launched themselves to create a startup. In contrast to company employees, people who dare to triumph on their own have to make decisions in the absence of supervisors and set goals and action plans to get what they want for themselves. That’s why people with autonomy is perfect to start the adventure of entrepreneurship.
The ‘locus of internal control.’
This element involves a characteristic of the personality that indicates to whom we attribute the results of our daily actions. If you believe that your results depend on the things you do, you have a valuable ‘locus of internal control’: that is, the quality needed to be a successful entrepreneur.
But if you think you can not control the things that happen to you or act upon them, then you have a ‘locus of external control.’
The former are convinced that they have power over their results so they will devote more effort and persistence to achieving what they want, which is supposed to be a great help to start a business venture and keep it successful. The ‘locus of internal control’ is, according to the connoisseurs, one of the most important elements of the entrepreneurial personality.
Also read: 11 Practical Advice on Learning to Stay Focused on Your Goals
The conviction that you can organize and take action to produce concrete results is a particularly valuable trait to succeed in any branch of life.
Self-efficacy is related to the ‘locus of internal control, ‘ but it is not the same: it is not a question of attribution of results, but of being able to carry out a particular task or task.
Entrepreneurship takes substantial risks and difficulties, so entrepreneurs need levels of self-efficacy that provide them with security.
“When you think that your actions will have achievable results, your incentive to act is greater,” says psychologist José Carlos Sánchez. “If you feel that you are effective, you are more likely to persevere when problems grow, and you are more liable to seek and achieve better tools to fix them and even more likely to trust and let yourself be carried away by the hope of success.
Also read: 10 Success Habits That Will Dramatically Improve Your Life
The mantle of uncertainty
Being an entrepreneur implies, almost by definition, taking risks. Recent studies have found that the ability to face risks predicts the success of the venture.
Daring to pursue your ideas brings you closer to the risks, but also increases the likelihood of success. Every entrepreneur is faced with making decisions under the cloak of uncertainty. Indeed it is correct to assume that if you do not take risks, it is tough to win.
Those who risk quickly identify the opportunities, act upon them and persevere until they get a meaningful change in looking for it.
The secret to a successful life
Experts agree that there are five essential skills for health, prosperity, and success in life. The good news is that you do not have to be born with any of them.
According to the results of a British study, the key to success is not in aspects such as education, money or intelligence, but in particular ‘coping skills,’ such as optimism and persistence.
That is the conclusion reached by a group of researchers from the University College of London (UCL) in an observational study in which they examined more than 8 thousand men and women.
The study focused on five critical skills to succeed in life: emotional stability, determination, dedication, feeling of having control and optimism.
Individuals with the greatest life skills also had better health indicators.
Such skills are often called ‘non-cognitive,’ because they are malleable personal traits that have nothing to do with intellectual ability.
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What they found
And the researchers found that higher scores on those skills were associated with economic success, social and personal well-being, and good health.
That is why scientists believe that fostering and maintaining these skills, not only during childhood and adolescence but also during adulthood, is crucial to achieving well-being and success during the later stages of life.
Scientists found that people who had a high score on at least four of the five attributes observed had more money, better health, less depression and were connected with a wider social circle.
In contrast, those who excelled in only one or two of these life skills suffered more loneliness, depression, and were more likely to have chronic illnesses.
Hence experts recommend giving value to factors such as emotional stability and optimism in all stages of life.
Also read: 8 Reasons You Should Consider Becoming an Entrepreneur
Only 3% of people with a good score in the five skills mentioned above had symptoms of severe depression, compared with 22% in the group of individuals with less ability to cope with life. While, on the other hand, persons with the highest capacities also showed better health indicators.