16 Top Qualities Entrepreneurs Need To Succeed This Year And Beyond
An entrepreneur should have clarity. It is essential for entrepreneurs to have laser-focused clarity on their goals, their zone of genius and their vision. It’s extremely easy to get pulled off track by different opportunities, an endless stream of ideas or the next shiny strategy. Clarity challenges you to focus on spending your limited energy only on tasks that will create momentum in your desired direction.
The best advice I received as a young entrepreneur was, “You have to learn to fail every day.” Since no one likes to fail, entrepreneurs in 2022 need bottomless reservoirs of self-confidence to keep bouncing back stronger. Cultivating this self-confidence is helped by surrounding yourself with people who have gone further down the entrepreneurial path than you. You become the company you keep.
The first quality is flexibility in every aspect of the business: a strategic approach, client outreach and offerings. Cultivate flexibility by talking to people with different experiences in other markets, and if you can go to foreign countries, it would even be more enriching. Must-have skills are innovation and speaking different languages.
Knowing yourself very well so that you can focus and prioritize is key. You will have clarity if you know your core values (compass), your strengths and your blind spots (toolbox) and where you want to go (map). Clarity beats doubts every time. So you can move forward, adapt, be agile, rebound and move toward a goal aligned with you.
The No. 1 quality an entrepreneur needs to succeed in 2022 is the ability to be adaptable. This means being able to identify opportunities and seize them quickly. It also means being able to change course when necessary and always be learning. Entrepreneurs can cultivate this quality by being open to new ideas, constantly seeking out new knowledge and taking risks.
6. Emotional Intelligence
An entrepreneur should have emotional intelligence. As a leader, it’s important to be aware of your own emotions when handling the natural ups and downs of entrepreneurship. As well, having emotional intelligence makes it easier to communicate with your team and independent contractors. Both your consumers and team want to be heard and understood and feel seen more than anything else.
An entrepreneur should cultivate curiosity—an insane desire to learn from customers, clients and those around them. The way you cultivate curiosity is to embrace having a “beginner’s mind.” This requires an openness to the issues and challenges at hand and an acceptance that you don’t have all the answers. Even if you do have answers, stay open to other possibilities. It’s about constantly learning and being open to the lessons involved in the journey.
Discipline is key. An environment without a prescribed structure, processes or supervision requires self-leadership to be disciplined in order to get things done; push through challenges; think outside the box to access resources; network and build connections; keep plodding without immediate rewards; and frequently trust your own judgment to prioritize projects.
The resolve it takes to forge through that first year or two is hard to quantify and essential to an entrepreneur when getting started, especially in the current economic environment. How will you hold yourself accountable for results? What action steps will you implement to drive your KPIs? How will you persevere and flex where needed when not meeting your goals? Prepare in advance and keep your resolve high.
Our business rises and falls based not on what we do once in a while, but on the daily practices, habits and processes we utilize to acquire clients, drive sales and operate with efficiency and effectiveness. Whenever I work with an entrepreneur, the starting point is their daily business routine.
Persistence is the most important quality in 2022. With so much in flux, and a tone of overwhelm and negativity in the external environment, entrepreneurs must be single-minded in their purpose and passionate about their possibilities. They must persist every single day to execute the next strategy, market their product or service, encourage their team members and make a difference for others.
An entrepreneur should have resilience! Being an entrepreneur is tough. An entrepreneur needs to be a leader who can not only withstand ups and downs but also thrive in times of uncertainty. An important part of developing resilience is learning to be flexible and adaptable. Just like sailing, you rarely get perfect wind. The best sailors learn how to move forward in the best way, given the weather conditions.
Know how to build a business that can operate without you, especially in a crisis. It requires a multi-pronged approach from financing to systems and processes to human (and other) resources. Most importantly, it needs self-development, so you know what you truly want and what you can unlock that supports these areas to flourish independently of you. That becomes a sustainable and aware business
To show humility, it is a question of always questioning yourself. To question yourself is to be able to evolve, to find areas for improvement. For an entrepreneur, having humility demonstrates leadership and creates strong partnerships to build the future of the company.
Grit always has been and always will be the quality an entrepreneur needs. Whether in 1922, 2022 or 2122, business is going to throw challenges at you aplenty! Being able to keep going when it feels like it's all going wrong is pretty much the price of entry to entrepreneurship.
If there is something that is guaranteed as an entrepreneur, it’s that there are no guarantees. If you back down, step away or shy away when faced with a challenge or something unexpected, your business will not survive.