Contractor’s Corner – Personality Traits of an Entrepreneur

I have been thinking a lot lately about the personality traits that most entrepreneurs have in common. In doing this, I did some self-reflection and looked to several entrepreneur friends and those who I’ve read about or had the opportunity to meet over the years. These traits are not unique to only entrepreneurs, they are most often present in high performing individuals and many professionals: 

Optimism – This is a key to success! Optimism is just par for the course otherwise you would never become an entrepreneur. I believe there is significant power in believing things will go well, rather than poorly. Henry Ford was quoted “Whether you think you can or think you can’t, you’re right.” Entrepreneurs typically believe they can and this mindset allows them to put plans and safeguards in place to guide their lives towards opportunities and positivity. We innately assume that things will go right, as they usually do, because we manifest it!

Positivity – I don’t want anyone to believe that entrepreneurs are always positive, however, we tend to look at the bright side. Of course, it is possible to have a cloud over our heads when things aren’t going as planned but it’s important to shake it off because persistent negative thoughts can be extremely tiresome. As an entrepreneur, we thrive with a busy schedule, so we need all our energy for our business. At the end of the day, it is easier and more rewarding to be positive and a much lighter burden to carry. It is also true that you attract like-minded individuals which helps to keep the positive flow of energy. Entrepreneurs will defend against negativity at all costs and push away those with a negative personality as quickly as possible. 

Problem Solver – it is in the blood of entrepreneurs; we love to solve problems and we have been doing it our entire lives. You can sense this personality trait from the time we are children as we would see a problem arising and, the next thing you know, we are knee deep trying to provide a solution. It doesn’t always work out as a kid, but it makes for good stories. As we are faced by more challenges throughout our lifetime, our problem-solving skills and our intuition mature and we become better at the process. Entrepreneurs are essentially professional problem solvers because they create a product or provide a service that fills a gap in your life. I was once asked if I ever got tired of solving problems and as I thought about it, I discovered that I see problems as opportunities, not situations to be avoided, but rather situations to be embraced.

Risk Taker – The entrepreneur takes calculated risks which is based on a certain level of knowledge and a refined “gut instinct” that comes from experience. The two combined, knowledge and experience are like the dynamic duo, very hard to beat. Each entrepreneur has a different level of knowledge and area of experience required to make a decision concerning their business and naturally extends into their personal lives. In comparison to the reckless whom take unnecessary risks which can jeopardize everything they are working for. Requiring too much information causes indecision, too little make you reckless. It is truly a balancing act, but the individual knows the balance they require. 

Stubborn – My wife suggested that I add this section. Just for the record, I prefer to call it driven, however, my wife knows me best and can give an uncensored opinion. Yes, entrepreneurs are stubborn! We are like a dog with a bone, we do not give up easily. This is a positive, as we are determined to put as much effort into our projects as needed to ensure they do not fail. We will work day and night to turn it around and we will secretly enjoy it! When we believe in something, we out work, out hustle, outperform virtually anyone or anything that stands in the way of our business success. I know this may sound arrogant, and it kind of is, unless you understand the level of stubbornness (or drive) of an entrepreneur. We are the people who take the risk, place our name on the company, and will go through hell and high water before admitting defeat. Failure is physically painful for us and we are fiercely determined to prevent the pain of defeat. This is one reason why our economy is built on capitalism and small business, because entrepreneurs want nothing less than success and to strengthen the economy. 

That is my two cents from an optimistic, positive, problem solving, risk taking, stubborn entrepreneur. I hope you enjoy this article and got a glimpse into the personality of an entrepreneur.  

by Dan Monk

 

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Dan Monk is a Professional Engineer ( P.Eng.) and Red Seal Carpenter and the Owner of Monk Renovations.  Dan and the team and Monk Renovations can provide you with an outstanding home renovation experiences regardless of the size of your project. Twitter @monkrenovations Facebook & Instagram @monkreno www.monkreno.com