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5 Qualities Of Successful Entrepreneurs

Brian Tracy shares the top five traits that all entrepreneurs must have to succeed.

Brian Tracy

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successful-businessman

Are there certain qualities that all successful entrepreneurs share?

After years of personal experience and coaching, I’ve discovered that entrepreneurs share very similar qualities that make them successful. Fortunately, all of these qualities can be learned. It is up to you to carefully examine your strengths and dedicate yourself to learning them.

How do these traits match up to your own?

1. Self-Discipline

The first trait that all successful entrepreneurs must possess is self-discipline. Self-discipline is the single most important quality for success in life and business. If you can discipline yourself to do what you should do, whether you feel like it or not, your success is virtually guaranteed. Self-discipline requires self-mastery, self-control, self-responsibility, and self-direction.

The difference between successful entrepreneurs and failures is that successful entrepreneurs make a habit of doing the things that failures don’t like to do.

What are those things?

The things that failures don’t like to do are the same things that successful people don’t like to do. But, successful entrepreneurs do them anyways because they realise that this is the price they must pay for the success they desire.

Related: 15 Qualities of Smart Business People

2. Integrity

The second trait that all successful entrepreneurs must possess is integrity.

Perhaps the most valued and respected quality you can develop is a reputation for absolute integrity. Be perfectly honest in everything you do and in every transaction and activity. Never compromise your integrity. Remember that your word is your bond and your honour is everything when it comes to your business. All successful business is based on trust.

Your success in becoming an entrepreneur will be determined solely by the number of people who trust you, are willing to work for you, give you credit, lend you money, buy your products and services, and help you during difficult times.

Your character is the most important asset that you develop in your entire life, and your character is based on the amount of integrity you practice.

persistence-achievement-never-giving-up

3. Persistence

The third trait that all successful entrepreneurs must possess is persistence. Persistence is the iron quality of character. Persistence is to the character of man as carbon is to steel. It is an indispensable quality that goes hand in hand with all great success in life.

Here is one of the great secrets to persistence and success: Program your subconscious mind for persistence well in advance of the setbacks and disappointments that you are going to have on your upward quest toward success.

Resolve in advance that you will never give up, no matter what happens.  The courage to persist in the face of adversity and disappointment is the one quality that, more than anything, will guarantee your success.

Your greatest asset can be your willingness to persevere longer than anyone else. In fact, your persistence is a true measure of your belief in yourself and your ability to success.

Related: 8 Entrepreneurial Qualities That Contribute to Success

4. A Clear Sense Of Direction

The fourth trait that all successful entrepreneurs must possess is a clear sense of direction.

Because of the turbulence and rapid change in today’s marketplace, most business owners have been reduced to operating day-by-day, almost like firefighters.

They are totally preoccupied with short-term problems and the need to get short-term sales and profits. They intend to spend more time thinking and planning for the future, but they don’t ever seem to get around to it.

This is not for successful business owners. You need to set clear targets for yourself and for every part of your business. In fact, perhaps your most important responsibility to your people is to give them a clear sense of direction in their work.

5. Decisive And Action Oriented

The final trait that all successful entrepreneurs must possess is being decisive and action-oriented. They must think and make decisions quickly. They discipline themselves to take action and to carry out the decisions they have made. They move fast and they get quick feedback from their actions. If they find they have made a mistake, they quickly self-correct and try something else.

The key to triumph is for you to try.

Successful people are decisive and they try far more things than other people do.

If you try far more different ways to be successful, the odds are that you will eventually find the right way for you, at the right time.

Related: 5 Unforgettable Leadership Qualities for Successful Entrepreneurs

Those are my top 5 traits that all entrepreneurs must have to succeed. Now I have a question for you:

What traits do you feel every entrepreneur MUST have to be successful?

If you want to learn more about the path to wealth, download my free report, the Way to Wealth here.

This article was originally posted here on Entrepreneur.com.

Brian Tracy is the most-listened-to audio author on personal and business success in the world. His talks and seminars on leadership, sales, managerial effectiveness and business strategy provide people with proven ideas and strategies that they can implement immediately for improved results.

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Self Development

9 Reliable Ways To Cultivate Creative Thinking

Some people are naturally creative. Everyone else can cultivate creativity.

John Rampton

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The benefits of creative thinking are enumerable. Having this skillset will enable you to tackle problems with unique perspectives, come up with special ideas and, overall, be a more effective performer.

One challenge to becoming more creative is the difficulty of quantifying creativity. It is much easier to learn and subsequently demonstrate skills in software engineering, for example. That being said, companies and people are drawn toward creative thinkers. The more that those around you listen to your opinion and the more frequently you propose unique ideas, the higher an indication of these skills. Therefore, over time, you can gauge progress based on how others respond to you and your work.

The other challenge, though, is that sometimes others will not recognise your creativity. They might shoot down an awesome idea because it sounds crazy unconventional. Understanding this and learning to navigate it will keep your confidence levels high so that you can continue to grow.

With these perspectives in mind around quantifying creativity, here are nine guaranteed ways that you can become a more creative thinker to better tackle your life and problems:

1. Read

People have chronicled years of their work or life experiences into books. Knowing more and having different perspectives will help you become more creative. You will be able to take others’ ideas, pieces of knowledge and individual experiences and apply them to your present situations. Reading is one of the best ways to pick up this knowledge and empathy.

It is easy to make excuses for not having enough time to read but if you make reading a priority, you will be able to find the time and undoubtedly become more creative.

Related: Creative Thinking 101

2. Pick up an art

creative-art-hobbyHaving some sort of artistic outlet in your life will dramatically help with creativity levels. Albert Einstein came up with many of his famous revelations while playing the violin.

In the book Originals, Adam Grant – a researcher and professor at Wharton – found that “Nobel Prize-winners are twice as likely to play a musical instrument, they’re seven times as likely to draw or paint, 12 times as likely to write fiction or poetry, and… 22 times as likely as their peers to perform as actors, dancers, or, yes, magicians.”

Whether it be an instrument, drawing, acting or anything else, finding an artistic outlet will fire different parts of your brain. Those spark serenity and a stillness that will make you a more creative person.

3. Surround yourself with a wider range of personalities

Empathy is a huge key to creativity. Most people surround themselves with others who are similar to them. While doing so is comfortable, it is not beneficial when working toward creativity.

There are others within your vicinity who have lived dramatically different lives. Meeting them, understanding their backgrounds and learning how they think will widen your perspective about the world. That will, in turn, increase the creative vigor you can take through life.

4. Spend more time in nature

nature-walkBeing outdoors also sparks creativity. Escaping from the stresses and routine of life, even for brief periods, can get your head out of a rut. Finding short times to be outside throughout your week will give you a chance to get away from all of the technology and noise in our daily lives. Plus, it is an excuse to go have fun and explore.

Related: Shift To Strategic Thinking Free Of Limits

5. Meditate

Mental stillness allows you to eliminate many of the thoughts that constantly ruminate in your head. When you are always thinking about a past or future event, for instance, it takes your mind away from tackling the current situation. Meditation is a great way to develop this stillness.

With a meditation practice you can learn to let your mind be entirely in the present situation. Doing so will allow you to exert more concentrated effort on the tasks at hand. You can pull in more knowledge from different parts of your brain. Consequently, you will be more creative in each moment.

6. Get enough sleep

Lack of sleep can kill creativity. Although we feel the urge to always be on the move, when we are tired, we are not able to use as much of our brain. Plus, exhaustion makes it harder to retain information upon learning it. Therefore, with less sleep, we learn less that we can apply to situations and we cannot perform as effectively on any given task. Making sleep a priority will help your creativity, without a doubt.

7. Exercise

exerciseFeeling healthy is a great way to have more confidence throughout our days. This confidence often leads to less worrying and more mental energy being exerted at the task at hand. Plus, while actually working out, people tend to be hyper-present. This might trigger an idea or a thought you had not considered before.

8. Do more of what you love

There is a correlation between happiness and creativity. The better that our spirits are, the higher functioning we act on a daily basis. Subsequently, a great way to increase happiness levels is to do what you love. This could be hobbies, spending time with loved ones or anything else.

Additionally, when doing what we love, we tend to be in a very present state. Some have called this state ‘flow.’ As mentioned above, being in a present state pays large dividends toward creativity. Not to mention that doing what you love might spark additional ideas and help you find new interests where you can be creative.

Related: 7 Creative Strategies For Marketing Your Start-up On A Tight Budget

9. Take more risks

Taking risks will boost creativity by giving you a larger set of life events. When you have experienced more things, you will be able to apply those memories and lessons to each new situation that you are in. While you can do more in life without taking risks, fear is often an inhibitor toward trying something new. Therefore, be open to taking more chances. By going out of your comfort zone and doing what others might be unwilling to do, you will develop a deeper breadth of memories and past experiences that you can apply to new problems.

This article was originally posted here on Entrepreneur.com.

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Self Development

3 Wonderfully Uncommon Reasons To Form Better Habits

As we race away into 2018, consider these very personal and fundamental bonuses to making and sticking to your resolutions.

Entrepreneur

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business-man-habits

Eat healthier. Exercise more. Be more productive. Read faster. Be friendlier. Sleep better.

Welcome to the New Year, a time when people set resolutions to form better habits and lead better lives.

Understandably, a lot of the articles, videos and other resources about starting off the New Year focus on which habits are best and the steps you need to take to achieve them. They outline the goals, plans and actions we need to make our resolutions a reality.

If you’re looking for 10 tips on how to lose 100 pounds in 90 days, then this article isn’t for you. Instead, why not consider some of the underlying and lesser-talked about benefits of kicking bad habits and forming better ones this year.

1. Challenging your norms

Why is it that you sneak sweets and junk food so often? How come you’re always so tired in the morning? Why can’t you get your butt to the gym?

Related: 7 Motivational Habits That Drive Millionaires

If your answer for poor habits is “That’s just the way I am/the way things are” then you’re probably underestimating yourself. Stop. Think about your actions and why you’ve taken them perpetually over time. You might learn a lot.

Take personal finance advisor and entrepreneur Ramit Sethi for example. When he stopped to analyse himself and why he wasn’t going to the gym, he realised something simple that he’d never considered previously: His closet was in a different room, separate from his bedroom. Instead of getting up in the cold to put on clothes, it was easier to just stay in bed.

“Once I realised this, I folded my clothes and shoes the night before. When I woke up the next morning, I would roll over and see my gym clothes sitting on the floor. The result? My gym attendance soared by over 300%.”

Forming a new habit is your chance to examine your life — or at least one important aspect of it — and figure out why you’ve been making the decisions that lead to the habits you want or need to change.

2. Taking control

We don’t have to be the sum of randomised actions and results, based simply on moral and civil codes. It’s up to each one of us individually to take control of our actions and maximise the results.

It’s the same in business. There’s nothing you do without careful research and consideration in order to maximise productivity, profits, etc.

You’re your own boss. You control your thoughts and actions; these things aren’t up to chance. Having the ability to make significant changes to your life is empowering, so long as you seize the opportunity.

Take control. Be the entrepreneur of yourself, 100 percent.

Related: 7 Bad Workplace Habits Millennials Need To Stop Making

3. Achieving clearer self-awareness

Some people say it takes only 21 days to form a new habit. Others say that just isn’t true. However long it takes, habit formation is a personal journey; one that requires desire, motivation, dedication, perseverance and change.

Habit formation takes you out of your comfort zone, to a place of self-discovery. If you’re getting into shape, how far can you push yourself physically? If you’re trying to eat better, how much temptation can you withstand?

Figure out what was required to succeed or why it was that you failed. Either way, you can obtain a clearer sense of your personal limits and, hopefully, how to achieve your goals — and sustain them — within your constraints.

As Benjamin Franklin said, “Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.” Not only to the world, but to yourself as well.

This article was originally posted here on Entrepreneur.com.

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Self Development

How To Build A Disruptive Attitude

What does it mean to navigate a disruptive world and succeed in a market – place that is changing faster than it’s ever changed before?

Nadine Todd

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What do you need to know to be a success? What resources and support do you need? How do you need to feel and think to be a success in a disrupted world?

According to Malcolm Gladwell, who spoke at the 2017 BCX Disrupt Summit, you need three key things to succeed in a disrupted world: Resources, knowledge and the right attitude.

The First step towards innovation and disruption is your mind. Your attitude.

For Gladwell, Malcolm McLean is the single biggest disruptor of the 20th century, in that he implemented containerised shipping. Without this fundamental shift in the way we ship cargo, the modern, connected world as we know it today would not exist.

Crucially, McLean did not invent containerised shipping, but no one had been able to make it work before a trucker from Ohio came along, and got irritated by how long he had to wait at the docks to offload his cargo (roughly 24 hours).

Related: How to Build Your Network Like a Super Connector

But McLean had an idea and he presented it at a conference of maritime shippers in Amsterdam. They laughed him off the stage. Normally, when we are treated with this type of derision, we get discouraged and give up. McLean didn’t do that. He possessed a fundamental trait that all entrepreneurs need: He didn’t require the approval of others to do what he believed was right. Entrepreneurs are open, creative, and see solutions to problems that others don’t; they are also — crucially — highly conscientious, which means they follow through on an idea in a detailed, disciplined way.

This is rare. You get creative people, and conscientious people, but it’s not easy to find both traits in the same person. Add to that the third trait of disagreeableness, in that they do not have to follow established norms, and you have a real game-changer.

McLean didn’t look at the problem as a shipper did. He came from an entirely new angle, and not only found a way to make containerised shipping possible, but affordable too.

Ikea is a similar example. In a nutshell, Ikea is furniture shipped flat from Poland. Ingvar Kamprad pursued outsourcing on an aggressive level, had an extraordinary amount of creativity in solving problems, and was very conscientious. Consider how difficult it would have been to build a world-class manufacturing plant in Poland in 1961. The country was a post-WW2 mess, in the grip of Soviet Russia, known for shoddy workmanship and actively hostile to free enterprise.

And then Kamprad waltzed in from Sweden and pulled off the impossible because of his single-minded grit and attention to detail. He is the epitome of conscientiousness and obsessiveness.

Now consider Steve Jobs.

By the 1970s, Xerox was the most important tech company in the world. They were the richest, most innovative and profitable company, and they invested in a state-of-the-art R&D centre and filled it with 100 of the most brilliant computer scientists from around the world, and told them to be brilliant.

And they were. As per Xerox’s request, they reinvented the office. They invented the laser printer, the world’s first word processing programme, interfaces — and the list continues.

And then a 23-year-old Steve Jobs visited the centre. At that stage, his company was making traditional kit computers out of a garage. He was blown away by what he saw at Xerox Park and all the incredible things they were doing — particularly when he was shown the mouse and interface the Xerox team had developed for personal computers. He immediately saw how icons and a mouse changed everything. This was the future of computing.

Related: 10 Innovators On What They Learned From Steve Jobs

Leading the charge

Here’s why Apple is the world’s biggest tech company four decades later, and Xerox is not: While the Xerox team understood they had changed computing forever, there was no urgency to be the first to market.

Jobs left that day, immediately told his team to stop what they were doing, because it would soon be obsolete anyway, and started working on a new product based on what Xerox had developed.

His team told him he was nuts — they’d spent millions on what they were doing. Jobs said it didn’t matter. It was obsolete. He didn’t have more resources. He didn’t have smarter guys. He didn’t even have a wiser and better vision.

But he was in a hurry. And he was able to execute on his vision.

If you can get your mindset right, you can gather the resources and knowledge that you need to be successful. Learn as much as you can. Be open to new ideas. And if something is soon going to be obsolete, walk away. Find the next big thing. Because you’re either being disrupted, or you’re the disruptor. Which would you like to be?

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