4 Traits Of Successful Entrepreneurs

top traits of successful entrepreneurs characteristics business owners

To be a successful entrepreneur, it takes intelligence, people skills, and sometimes a little bit of luck. Many company founders and CEOs possess common characteristics that enabled them to rise to their level of expertise. 

So what character traits help the most in entrepreneurship? Here are 4 of the many traits of successful entrepreneurs. 

1. Passion

Many entrepreneurs simply took something that they are passionate about and found a way to make money from that. When you love what your company does, it is easier to get people excited about becoming a founding partner and investing in the company, just as Patrick Chung Xfund did with his company. Most successful entrepreneurs not only have a passion for what their business does but a passion for working with people and seeing other people succeed. 

Having a passionate attitude allows entrepreneurs to invest the time and energy needed to make a business grow and thrive. 

2. Creativity

Creativity can be defined as the ability to come up with unique ideas that can be used to get a point across or solve a problem. In addition to passion, entrepreneurs need to be creative thinkers, especially during times when a company is not doing well and needs some out-of-the-box strategies to get it back on its feet. Creativity is also necessary for starting a business in the first place, as founders need to identify a niche in the market that is not currently being utilized. Simply copying an existing business will not allow a company to grow to its fullest potential. 

Creativity is also involved in nearly all other aspects of a business, from design and production to advertising and marketing, and even to hiring and training new and existing employees. 

3. Work Ethic

While passion and creativity can be either innate characteristics or traits that are learned over time, work ethic is a trait that almost anyone can possess. Successful business owners can often be seen going into the office early, leaving late, and doing what they need to do to get a job completed. Not only is working hard necessary for their jobs, but it sets a good example for the rest of the company's employees. 

Good work ethic by the CEO raises overall morale at the company, because other employees see the people in charge as working just as hard as they are. 

4. Motivation

Motivation is especially important during the early stages of building a company and staying educated on the business world. This is because there will be plenty of times when a company founder asks themselves whether or not this venture is worth it. It is easy to be excited when the people around you are also excited about the business and things are going well. However, motivation is the ability to push through the times when it feels as though something is no longer worth pursuing. 

Entrepreneurs also need to be motivated and a self-starter on a day-to-day level, as they usually have nobody over them to set deadlines or ask them to get more work completed. 

Enjoy Entrepreneurial Excellence

These are four of the common traits that can be seen among many entrepreneurs throughout the world. 

If you want to excel as an entrepreneur, keep these traits in mind and put in the work!

The Beginner's Guide To Understanding Trading

beginner guide understanding trading market investing

Trading seems to be everywhere these days, one can't open a web browser without promises of huge trading successes. However, as with any new venture in life, there are things to consider and keep in mind when starting up. 

The online world is fast-paced and moves with the times, the same applies to trading commodities and securities. The key is to know the basics, and know them well. Couple knowledge with a good eye for finance and analytical thinking skills, and you may have a future in trading. 

Keep in mind that each trading type comes with its very own set of rules and regulations, and while the premise may be the same, there are a myriad of things to consider beyond merely buying low and selling high. This article will introduce you to a few different options in the trading world so that you can ultimately make an informed decision in the market. 

Staying Ahead Of The Trend 

Trend is one of those words that the western world is all to familiar with, and it is defined as a general direction in which something is developing or changing. This definition rings true for trading too, namely trend trading, which is a popular form of trading that involves traders leveraging existing market trends to execute profitable trades. 

In other more understandable words, traders estimate the direction that prices are moving in, based on where they were in the past. It's a prediction above all, but can be fruitful if you are gifted with numbers, patterns and meticulous monitoring of charts and data. 

There are tools to aid in trend trading, namely a stochastic oscillator which is the most well-known tool that compares a particular closing price of a security to a range of its prices over a certain period of time, meaning that it uses a scale to measure the degree of change between prices from one closing period to predict the continuation of the current direction trend. It aims to give you information over a specific period of time so that you can deduce what the next move may be. 

However, since the market is a beast that plays by its own rules and changes at the drop of a hat, the best thing to do is combine knowledge and experience. It may take some time to become acquainted with the ins and outs of trend trading, but it is well worth putting time and effort into it if you can see yourself in this industry. 

Good As Gold 

Gold is one of those commodities that seem extra exciting, kind of like trading with kings in the olden days. The same as with trend trading, or any form of trading for that matter, you need to know the basics really well if you are planning to trade gold and aim to make a profit. 

Gold falls under the commodities trading umbrella, which refers to an economic good, in other words something of financial value and usually a resource. Commodities usually involve raw materials and not manufactured goods, for example cocoa, sugar and fruit. The other side of the coin and still under the same umbrella is hard commodities, namely things that are mined, such as gold and oil. 

A big aspect to consider in commodities trading is whether you can handle risk and enjoy the thrill of it, because some consider it a risky investment mainly due to the supply and demand of these products being affected by events that are difficult to predict, like harvesting conditions, weather, geopolitics, demand and supply, trade regulations as well as natural and human-made disasters. 

These are only a few of the possible influences that can affect prices, and gold trading also requires sound knowledge of geography, finance, inflation and many other things. Keep this in mind when you make your decision. 

A Full Day Of Trading 

To be fair, day trading sounds a little less challenging and risky than it actually is. It gives the impression of doing a hard day's work and then leaving the office happy. But this is not always the case, especially if you don't make sound decisions under extreme time pressure. 

It is human nature to try and maximize money, to let our money work for us and not the other way around. Put simply, day trading involves a trader actively buying securities, like gold or cryptocurrencies, and selling them in the course of the same day. It is essential for any future day trader to know what kind of person they are and whether they can handle the stress of purchasing goods and monitoring their fluctuation to the minute. 

It can be an exciting venture if your nervous system can take it and you have a good feeling for the market and don't mind stressful situation. Believe it or not, there are people who thrive under pressure and even need it in a way. Learn everything you can about day trading before you give it a go. A good option is also to try a free demo account so that you don't use your own money right off the bat. 

Right next to finance as a cornerstone of trading, is the knowledge of oneself. A good trader knows when to buy, when to sell and when to cut their losses. They also stay up to date on all the latest news and have a keen interest in anything economy related. Trading is not a get-rich-quick kind of activity, it's a serious business with serious risks. Take your time in learning about different trading methods and always trade responsibly.

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