Though every business is different, it seems that all entrepreneurs have similar personality traits. That’s because it takes a very specific set of characteristics to make it in the cut-throat business world. Below are the 4 most important personality traits that successful entrepreneurs share, along with some tips on how you can develop those traits.


Arguably the most important trait among entrepreneurs is tenacity, an ability to take failure after failure and continue pushing forward. Mike Colwell, who runs Plains Angels, says, “Tenacity is No. 1. So much of entrepreneurship is dealing with repeated failure. It happens many times each week.” But how can you learn to continue to stand after being knocked down time and time again?

For those who aren’t naturally tenacious, it can be a difficult trait to learn, but it is possible. Some of it will come from practice, but it’s also about the things you focus on. Instead of focusing on the failure, focus on what you’ve learned from it. Why did this effort fail? How can you change things next time around to avoid the same problems?

If you take an attitude of learning, and find an excitement to try again, tenacity isn’t so difficult to achieve. Keep your eye on the end goal, and take another shot at it.


If you’re not passionate about your business, how can you expect to make potential clients feel excited to work with you? Successful entrepreneurs have a deep passion for what they do. Of course, some people are more passionate than others, but everybody is passionate about something. With the right focus and mindset, you can channel that passion into your business and help it to grow.

Find something that excites you, and let that be the focus of your entrepreneurial efforts. Perhaps it’s working with clients and seeing the change you’re making in their lives. Maybe it’s creating the prroduct and finding ways to improve upon it. Not all elements of starting a business are exciting, but if you keep yourself focused on the parts that you love, you can keep the passion for your business burning through even the more difficult times.


Most entrepreneurs are naturally confident individuals. It takes a lot of confidence and belief in yourself to take the risk of starting your own business. Belief in your product or business model isn’t enough. You also have to believe in your own ability to make your business grow. You have to believe in your knowledge, skills, and leadership abilities.

Many people struggle with confidence, but if you want to develop the confidence to pursue your entrepreneurial dreams, it is possible. The first step is to not allow yourself to get sidetracked from your business. Don’t let it be a “hobby” or something you do “on the side”. Remind yourself that the number of individuals working from home and making a good living has grown significantly in recent years. With a little bit of confidence and some hard work, you can be one of them.

Ability to Sell Yourself

This trait is, in many ways, a culmination of those above, but it is a very necessary skill. When you’re starting as a business, much of the selling you do isn’t even focused on the product or service you’re offering–it’s focused on you. You have to be able to convince others that you have the ability and the skills to provide them with what they need. This is easier to do if you have the above traits, but having those traits doesn’t necessarily mean you know how to promote yourself.

Developing this skill takes time and practice. Successful entrepreneurs Richard Lorenzen and Sam Ovens recommend one trick for learning this skill–start out as a consultant. “Consulting is the best way to learn sales and marketing from the ground up,” they write. “Learning how to sell yourself above all else from day one is critical to success as an entrepreneur and this is the best on-the-job training that there is.”

With some practice, you can develop these 4 personality traits to help you become a successful entrepreneur. What other traits do you think are necessary for entrepreneurial success?

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