Mark Zuckerberg started Facebook as a simple hot-or-not site to get back at classmates. Nike founder Phil Knight called the now ubiquitious shoe company his crazy idea.” Instagram began with a single photo filter to make turn its users into less-crappy photographers.
You probably couldn’t have predicted their success at the time, but today, all of these ideas have turned into global titans worth billions of dollars.
Since it all starts so simply, I’ll pose this question: Do you have a crazy idea of your own, and have you ever considered turning it into a full-fledged business?
While I can’t answer that question for you, I can tell you what makes Mark Zuckerberg and his ilk such effective and successful founders and entrepreneurs. And who knows — if you see some of these traits in yourself, it might be time to dust off that crazy idea and get to work building a business of your own!
(Side note: If you want some help getting started, HubSpot’s giving away $100,000, free HubSpot software, and 1:1 facetime with industry experts to help one lucky winner found the business of their dreams. Check out our #SummerStartup competition before it’s too late!)
5 Traits of Highly Successful Entrepreneurs
1)Entrepreneurs are resilient.
At LinkedIn (and HubSpot, too), there’s a saying that CEO Jeff Weiner throws around frequently, borrowed from the legendary Coach K at Duke University: Next Play.
The thought is, if you miss a wide-open shot, don’t stop to wallow or whine — you haven’t got the time. Instead, pick yourself up, get on the defense, and move on to the next play.
In the startup world, if you want to keep the lights on, you need to be able to hustle under pressure. Whether a big deal has just fallen through, or you’re staring down a massive and unforeseen cost, you have to be able to hit the reset button and attack the next play at 100%.
2) Entrepreneurs are ready to take risks.
Elon Musk is one of my personal heroes. Whether it’s SpaceX, Tesla, or SolarCity, his goal is the same: to save the human race. He’s completely mission-driven, and he’s willing to take crazy risks to make it happen.
For instance, in order to get SpaceX and Tesla off the ground, Musk took nearly his entire fortune from the sale of PayPal ($165M) and invested it into these two businesses — even though it was entirely possible both would fail. He went from millionaire to penniless (and ultimately back again) because he was willing to take a calculated risk to see his dream come to fruition.
While I’m not advising you to take out another mortgage on the house to support your business, very few entrepreneurs make it to the top without facing a few make-or-break moments — and you should be ready to do the same.
THE #COMPETITION IS ON: Pitch your business idea in 25 words or less in the comments below for the chance to win:Advertisements