the seven traits of the most successful entrepreneurs

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The Seven Traits Of The Most Successful Entrepreneurs

The most successful entrepreneurs have distinct traits that make them stand out from everyone else.

The results (hint: lot's of success) are well documented. Just look at the cover of any business

magazine. But what is not documented is HOW they got there.

In this short article, I share the how. Specifically the seven traits of the most successful entrepreneurs:

Has Attention Deficit Disorder

If you get easily bored with the mundane and get enthralled in the unique and obscure, modern society

will label you as having a disorder. ADD specifically. But this is a myth, it is not a disorder. In fact the

most important skill that an entrepreneur must posses is to quickly delegate the mundane (repeatable

tasks) and constantly attempt new innovations.

Says "No" A Lot

Entrepreneurs say yes to most things. Yes to new clients, new projects, and new opportunities. But,

the world's most successful entrepreneurs say no to most clients, most projects and most

opportunities. Because they know a maniacal focus results in extraordinary skill and ability. A narrowly

focused business is ALWAYS the industry's most elite provider.

Cares More About Questions Than Answers

Better answers can only come from better questions. The most successful entrepreneurs do not ask,

why is my business not working. Instead they ask, how can my business work significantly better.

Always ask better and bigger questions, the answer will reveal themselves.

Has Absolute Integrity

There is no such thing as a little dishonesty, or just a small theft. The most successful entrepreneur

knows that how she behaves in any instance is how the behave in all instances. She always acts with

integrity even when there is no way she would ever get caught. Always!

Makes Everyone's Job Easier

Business owners create and enforce the systems, but the best entrepreneurs are always making the

systems easier and easier to execute. They never stop innovating internally.

Doesn't Compete With The Competition

Entrepreneurs spend their time trying to innovate beyond the competition, the world's most successful

entrepreneurs constantly innovate beyond themselves. In short, they compete with themselves.

Therefore they always lead by a huge margin, yet are always striving for next level.

Has A Mastermind

The most successful entrepreneur surrounds himself with other successful entrepreneurs. He meets

with 7 or 8 other successful entrepreneurs periodically. Collectively the energy, intelligence and

experience lifts all the entrepreneurs to their h ighest levels.

By Mike Michalowicz, Author of The Toilet Paper Entrepreneur

even Traits Of The Most Successful Entrepreneurs | Toilet Paper En... http://www.toiletpaperentrepreneur.com/blog/the-seven-traits-of-t

12/13/2010



Tags: habits, mike michalowicz, Seven Skills, small business, Successful Entrepreneurs, toilet paper entrepreneur, traits

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24 Responses to “The Seven Traits Of The Most Successful Entrepreneurs”

Demisha

April 26th, 2010 [

Excellent list. ADD = creativity! ADD is amazing, because when you have it, you never get

comfortable with things. It brings constant change into a person’s life, which is outstanding.

ADD really stands for: AllDay Dreamers- for those that constantly “ attempt new innovations”.

Always Dreaming Differently!

1.

Cheri Ruskus Says:

April 26th, 2010 [ edit ]

Great list Mike and really right on. I especially like your item #7 Mastermind and know it to be

true with the work that we do in the Victory Circles! Collectively we do rise up to our

challenges in order to have our businesses be the the successes that we each envision!

Would love to connect again one of these fine days!

My best,

Cheri

2.

Gobind Shahbaaz Singh Says:


Beautifully written post Mike and nicely compiled….. I loved the Doesn’t compete with the

competition pointer very much!

3.

Victoria Beckner Says:


Mike,

Great post! I really like the Integrity trait: Own your mistakes, be honest, always say please

and thank you and you will be opening doors all the time! People like to deal with respectful,

polite people. If you can be that, they will be so disarmed, you will be able to get what you

want without stepping on toes. Plus,you ever have to look over your shoulder! Always

looking and moving forward…the only way to get to your goal.

4.

Sam Says:


Another important trait is that most successful entrepreneurs constantly refresh their minds

by READING GREAT BOOKS!

5.

stephanie Says:


wow, i think it’s very creative how you define what a successful entrepreneur is. and come to

think of it, its actually true! most of the successful entrepreneurs i know are exactly the way

you said in this blog! hope i could be one of them soon! awesome post!

6.

Mike Michalowicz Says:


Hey Demisha – I heard the funniest thing about A.D.D. This guys said ADD is the juice of

life. Then he said what he is most concerned with is ASD… Attention Surplus Disorder. That

is the real problem.

7.


12/13/2010





@Cheri – Yes! Masterminds are key.

@Everyone – If you want to participate in an AMAZING mastermind, check out Cheri’s

organization. They are phenomenal!!!!!! http://www.businessvictories.com

8.

Richard M. Says:


This is good stuff and it is fairly straight up and easy to understand. I agree with all of them,

especially the bit on integrity! On the issue of competition I kinda viewed it differentlyalthough I understand your post. I have eliminated ALL my competition by collaborating with

them where practical … at first they were quite confused but then they realized that I simply

didn’t have the time to compete with them … I had customers to satisfy and they either

wanted to help or not. Now they come to me with clients that they know I can assist and we

now share great relationships and broadened horizons! There’s enough business out there

for everyone, just not enough if you want to hog it all to yourself.

9.

Tricia Dycka Says:


Mike

This was a great reminder. To constantly challenge yourself without the thought of what

others think. Create a supportive environment for yourself while propelling your business

forward. The best is compete with yourself not others.

Tricia Dycka

10.



@Victoria – Spot on! Thanks for expanding on what integrity means. “Own your mistakes

and be honest. Always”

@Sam – Hey Sam… I know of a great book (is that too self serving).

@Stephanie – I think you ARE one of them the moment you employ it. The financials may

not reflect it immediately. But they will soon enough.

11.

BiG Al Says:


Great post my man! I always gotta give it to ya, you’re on top of it. And after all these years,

everyone has been telling me that I have ADD, ADHD and I have too many dreams and to just stick to one, I’ve finally found some validation on my point of view! I would say that ADHD

stands for Always Daring (to accomplish)Higher Dreams!

‘At a boy Mike!

12.

Susan Greene Says:


One of the traits I’ve consistently found among successful entrepreneurs is that they care

about the details. It’s fine to be “the visionary” and come up with big ideas, but turning out

quality work, whether it be in the form of a product or service, means perfecting every aspect,

no matter how small.

13.

John Panico Says:

April 26th, 2010 [ edit ]Could not agree more with the list… especially having integrity. One of our founding

principals at Virtual Resources is to be Morally and Ethically sound. Another trait that I would

add is the ability to “ make it happen”. Successful entrepreneurs have an uncanny ability to

just make things happen.

14.



@BIG AL!!!! You go brotha… YOU GO!!!! Folks with ADHD own it!!!

15.



16.


12/13/2010



@Susan – devil’s in the deets.

@John – agreed. Love your principals.

Michele Says:


Mike

I love this post!

It sounds just like me in every aspect of life and business

17.



@Michele – Hey!! !! Long time no talk. That is awesome… and means that business will

continue to flow and grow. Was wearing my Bagawiya shirt today… must be karma.

18.

Angelique Says:


What stood out to me the most is that numbers 1, 3 and 6 are often cited when naming

children as “gifted”. I suppose you could say that the most successful entrepreneurs are

“gifted”, too!

Angelique

19.

Michele Says:April 28th, 2010 [ edit ]

haha Mike

yes it must be Karma

lets get to the flowing and growing of Bagawiya!

Here’s to the list!

20.



@Angelique – Such a astute observation. I agree completely. We need to be very careful

about negative labels… since many are actually talents.

21.

Gregg Mulgrew Says:


Great read Mr. Mike as always…

I am so glad ADD is a myth and not pa rt of the entrepreneur cerebral package.

ADD = Adversity Develops Determination!

When are we popping the top on a few at the Boonton Inn???

22.



@Gregg – I love that definition of ADD! I am settling back in, in Mid May. Maybe we should

get a tweet up going in Boonton.

23.

Gresh Says:

September 12th, 2010 [ edit ]

Hello,

I recently wrote my thesis on sports entrepreneurship. After interviewing and researching a

bunch of entrepreneurs, I developed a list of traits that I believed were evident in

entrepreneurs in the sports industry–and also apply to “non-sports entrepreneurs”. I posted

the list in my blog and would love to hear what you think: http://tiny.cc/hf9li

Thanks

@proGRESHion

24.

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the seven traits of the most successful entrepreneurs

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