The Essential Traits of a Successful Entrepreneur: How to Develop Them and Thrive in Business - Myk Baxter Marketing

Entrepreneurship is an exciting and challenging path that requires a unique set of skills, traits, and mindset. Many people aspire to be entrepreneurs, but not everyone is cut out for it. To be a successful entrepreneur, you must have a combination of passion, persistence, creativity, risk-taking ability, and leadership skills. In this article, I explore what it takes to be an entrepreneur, like myself, and how you can develop these traits to succeed in this field.


Passion is the driving force behind every successful entrepreneur. You must deeply love what you do and be committed to your business idea. When you have a passion for your work, you will be motivated to overcome challenges and setbacks. Passion is what helps you to push through tough times and keep going when others would have given up. 


Persistence is another key trait of a successful entrepreneur. You must be able to handle rejection, setbacks, and failures and keep moving forward. When you encounter obstacles, you need to have the tenacity to keep going and find a way around them. Persistence is what helps you to overcome the fear of failure and learn from your mistakes. 


Creativity is the ability to think outside the box and come up with innovative solutions to problems. As an entrepreneur, you will face many challenges that require creative thinking. You must be able to identify opportunities and turn them into profitable ventures. Creativity is what helps you to differentiate yourself from your competitors and develop unique products or services. 

Risk-taking ability

Risk-taking is an essential trait of an entrepreneur. Starting a business is inherently risky, and you must be willing to take calculated risks to succeed. You must be able to identify opportunities, assess the risks, and take action. Taking risks is what helps you to innovate and grow your business. 

Leadership skills

Leadership skills are critical for an entrepreneur. As a business owner, you must be able to inspire and motivate your team to achieve your vision. You must be able to communicate effectively, delegate tasks, and provide feedback. Leadership skills are what help you to build a strong team and create a positive work culture. 

How to develop these traits

While some people are born with these traits, others can develop them over time. Here are some tips for creating the key traits of an entrepreneur:

  • Choose a business idea that aligns with your interests and values
  • Focus on the positive aspects of your work and celebrate your successes
  • Surround yourself with like-minded individuals who share your passion
  • Set clear goals and create a plan to achieve them
  • Break down your goals into smaller, achievable steps
  • Learn from your failures and use them as opportunities for growth
  • Expose yourself to new experiences and ideas
  • Practice brainstorming and problem-solving exercises
  • Collaborate with others to generate new ideas
Risk-taking ability:
  • Take small risks and gradually increase your tolerance for risk
  • Do your research and assess the potential outcomes before taking a risk
  • Learn from your successes and failures to improve your risk-taking ability
Leadership skills:
  • Seek out leadership opportunities in your personal and professional life
  • Practice effective communication and active listening
  • Attend leadership training and seek feedback from mentors and peers

Overall, entrepreneurship is a challenging and rewarding path that requires a unique set of skills, traits, and mindset.

I myself have been an entrepreneur for over twenty years and I’m continuing to build on the skills I’ve gained whilst on this incredible journey, and it’s about to get even better after receiving an invitation to the Entrepreneurs’ Forum

Dedicated to inspiring North East entrepreneurs, the Entrepreneurs Forum grants its members access to their renowned peer-to-peer mentoring programme and their calibre of exclusive, inspirational to energise and help you grow in confidence and determination. 

I’m delighted the board has welcomed me, and I’m sure I’ll meet other like-minded business owners who I can share ideas with, and learn from & they can help me to grow my business, Myk Baxter Marketing further while networking in new circles to find new and bigger collaborations & opportunities.

Bring on this new chapter!

Thanks for reading,

Myk Baxter, eCommerce Consultant

The post The Essential Traits of a Successful Entrepreneur: How to Develop Them and Thrive in Business appeared first on eCommerce Expert.

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“Myk Baxter Marketing” is a trading style of MBM UK, a company registered in England and Wales and whose registered office is situated at Mill House, Railway Road, Ilkley, Leeds, United Kingdom, LS29 8HT