Every successful entrepreneur has this quality

From All Great Entrepreneurs Have This by Jeffrey James:

What makes an entrepreneur successful?

Some people believe it’s the ability to innovate. However, many startups are refinements of existing business models or improvements on how everyday products and services are delivered.

How about access to capital? [But] there are plenty of successful startups that survived on the thinnest of shoestrings for their first few years.

Management skill? Give me a break. Entrepreneurs are famously short-tempered and few have the patience to coach employees.

There is one thing and one thing alone that every great entrepreneur absolutely must possess: courage. It takes courage to forego the predictability of a corporate job. It takes courage to sacrifice your nest egg to your startup. It takes courage to take the risk of failure. And it takes courage — lots of it — to hand over the reins when your startup grows beyond your ability to manage it.

5 thoughts on “Every successful entrepreneur has this quality

  1. All entrepreneurs have courage, so courage alone is not a good indicator for distinguishing successful from unsuccessful entrepreneurs.

    The common thing among successful entrepreneurs is determination aka “grit”. It’s the willingness and desire to keep going long past the point where any rational person might have given up in the face of what seem like insurmountable odds. Grit is a combination of passion, discipline, and limitless [irrational] optimism.

  2. Pingback: Necessary qualities in founders – Marc Suster’s shortlist | A Founder's Notebook

  3. Pingback: The most important characteristic of a founder or CEO | A Founder's Notebook

  4. Pingback: The most important quality of a successful startup founder or CEO | A Founder's Notebook

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