There is no such thing as a “typical” entrepreneur. We come in all shapes, sizes, and flavors. Still, myths abound, and most of us walk around with a specific caricature of what an entrepreneur is like in our minds.
Most often that image includes someone who is bold, daring, comfortable with risks, and a consummate schmoozer. There’s no problem with this constellation of traits, except that it can hold a lot of other people back. I have met countless aspiring entrepreneurs who fear they aren’t cut out for the job because they keep comparing themselves to this common stereotype. The truth is that the average entrepreneur is actually quite different from that brazen ‘let’s make a deal’ kind of guy or gal.
Contrary to the popular stereotype, here are five surprising traits that many successful entrepreneurs share.
Far from the know-it-all, most successful entrepreneurs spend a lot of time identifying what they don’t know and, more importantly, how they can find out. Openly admitting knowledge gaps is as important as comfortably asking for help. Most people are hesitant about displaying this much vulnerability, but entrepreneurs know that their survival depends on it.
The common entrepreneurial stereotype tends to favor a take charge, “let’s get it done yesterday” kind of attitude. While almost all entrepreneurs have a keen sense of urgency, they are also responsible for making a small pool of resources stretch a long way. This necessitates a spendthrift-ness that extends beyond money. Successful entrepreneurs must also learn to strategically marshal other important resources such as time, energy, and favors, making the phrase “let me think about it” an important tool.
Great entrepreneurs realize that, second to their own time, their network is their greatest asset. These relationships can provide not only information, support, and introductions, but also, of course, sales—but only if they are navigated properly. People tire quickly of a salesman whose only focus is pushing their new, latest, greatest gadget. Instead, successful entrepreneurs focus on building long-term relationships and concern themselves more with how they can help rather than how they can gain. They know that authentic and generous relationships are essential in creating abundance.
Opportunity is the bright shiny beacon that drives most entrepreneurs forward, convincing them to work hours that are often obscene and take significant risks. Savvy entrepreneurs recognize that that not all opportunities are created equal, though. Many are merely distractions that drain the company of important resources, such as focus, energy, and time. Others may even imperil the whole venture. Successful entrepreneurs cultivate their own restraint, saying no quickly and frequently in order to stay on track.
Many entrepreneurs are self-described extroverts, but far from all are. No matter your individual preferences, building a business undoubtedly takes a great amount of interpersonal interaction. Most entrepreneurs quickly realize, however, that time spent pounding the pavement and exchanging cards needs to be well balanced with independent thinking time. And it’s astounding what lengths entrepreneurs will go to protect it. An over-packed and over-peopled schedule can kill momentum and cloud your vision. Alone time is important in giving entrepreneurs the space they need to process, create, and move things forward.
Adelaide Lancaster is an entrepreneur, consultant, speaker, and co-author of The Big Enough Company: Creating a business that works for you (Portfolio/Penguin). She is also the co-founder of In Good Company Workplaces, a first-of-its-kind community, learning center, and co-working space for women entrepreneurs in New York City. She is also a contributor to The Huffington Post and writes The Big Enough Company blog for Forbes.com. She lives in St. Louis, MO with her husband, daughter, and son. You can follow her on Twitter here and here and on Facebook too.
This would probably be a sub-bullet of #4...but an entrepreneur is also stubborn (won't take rejection or no for an answer). If you tell her it can't be done, and she is convinced that it can indeed be done, she will tune our your nay-saying and will prove you wrong, whether it's with the online bookstore (Amazon) you said couldn't happen or the classified site you said wouldn't yield much revenue.
