There are a variety of factors and circumstances that go into the making of a great entrepreneur. However, there are a few personality traits that will help you make the most of any and every situation you find yourself in, and that could prove the difference between success and failure. It is important to reiterate that there is no sure guarantee to success. However, with the three P’s in your arsenal, failing will not remain an option.
See if you have these three P’s, which have been found to be the hallmark of all great entrepreneurs.
Passion is the prerequisite for success in almost any aspect of life. Especially when being an entrepreneur comes with the promise of long hours and problems to deal with every day. Only passion can motivate you to keep at your dream in spite of all the hurdles in your way. There is no guarantee that you will be realizing your dream at the end of the journey. Then again, as an entrepreneur, the journey can be never-ending, and your passion is what will see you through it all.
What is the reason 90% of startups fail to continue beyond their initial years? Lack of persistence could be the answer. It takes persistence to survive the critical early years and overcome the challenges that every entrepreneurial initiative is bound to go through. Many believe that securing your funding and starting out is It. However, reality proves that this is only the first step. Unless you keep at it through all the hurdles that you face, you will only be a statistic in the course of history.
The third most important thing that can make a difference in your success is your attitude towards problems. A lot has been said about this, but it might not be enough. As an entrepreneur, one thing you will find yourself doing a lot will be solving problems. The experience of most great entrepreneurs has shown that unconventional thinking and the ability to take calculated risks is what matters at critical junctures.
Luckily passion also means that work will not feel like work, just the way of life; and happiness at doing what you love will enrich the experience. Your passion will guide your ability to persist. So the greater your passion for your chosen idea, the higher will be your ability to persist at it till you succeed. Only if you are good at problem-solving and able to find the right people along the way to help you will you ever be successful.