Born or Made? 12 Personality Traits of Wildly Successful Entrepreneurs

What separates the wantrepreneurs from the entrepreneurs? The dreamers from the doers? The 90% who crash and burn from the 10% who soar?

You might think it all comes down to luck, connections or money. Sure, those things help. But after two decades studying and supporting thousands of entrepreneurs, I‘ve found it‘s something deeper – a set of innate personality traits.

Now, you may be thinking…I‘m not "born with" those traits. Is entrepreneurial success forever beyond my grasp?

Absolutely not! The latest psychology research shows that talents and abilities are not fixed. They can be cultivated through deliberate practice. With focus and effort, anyone can dramatically improve their entrepreneurial capacity.

Of course, knowing what to improve is half the battle. So let‘s dive into the 12 most essential traits of extraordinarily successful founders. As you read, reflect honestly on how you stack up in each area and choose one to focus on first.

1. Disciplined Execution

What‘s the top reason startups fail? According to CB Insights, it‘s a lack of market need for their product (42%). But the second biggest factor, cited by 29% of failed founders, is running out of cash.

In other words, they didn‘t execute swiftly or effectively enough before the well ran dry. When you‘re bootstrapping or burning through investment, every day and dollar counts. Successful entrepreneurs ruthlessly prioritize and pursue only the most critical activities to achieve their goals.

Take Sylvana Ward Durrett, co-founder of luxury retailer Maisonette. With three kids at home during the pandemic, she didn‘t have time to waste. So she timeboxed her schedule down to the minute, assigned every task a "need," "want," or "can wait" label, and relentlessly focused on the "needs."

"Some moments were pure adrenaline, others were completely defeating," she reflects. "But giving up wasn‘t an option. I had to find creative ways to execute what mattered most as efficiently as possible."

Discipline isn‘t about rigidly adhering to arbitrary rules. It‘s about aligning your limited time and energy with your deepest values and priorities. Start each day by asking: What are the one or two things that, if accomplished, would make the biggest impact? Then do those things first.

2. Creative Resourcefulness

"I have not failed. I‘ve just found 10,000 ways that won‘t work." – Thomas Edison

Setbacks and constraints are par for the course in entrepreneurship. But the most successful founders view these challenges through a lens of curiosity and possibility rather than limitation.

Studies show that cultivating a growth mindset – a belief that skills can be developed – is key to resilience. When you embrace obstacles as opportunities to learn and improve, you stay motivated and creative in the face of adversity.

Consider Sara Blakely, founder of Spanx. In the early days, she had no money for advertising. So she bought crafting supplies and set up a table in the foyer of Neiman Marcus, asking shoppers to try her prototypes. Their reactions helped her refine the product and her pitch until Spanx became a global sensation.

"I‘ve always loved proving doubters wrong," Blakely says. "I thrive on being underestimated. Whatever you think you can do, just begin. Don‘t get caught up in the ‘how‘ – you‘ll figure it out."

When you find yourself focusing on all the reasons something can‘t be done, flip it around. Ask, "How could this be possible?" Get curious and creative. The path will appear.

3. Empathetic Leadership

The stereotype of a successful entrepreneur is a ruthless workaholic who cares only about the bottom line. But in today‘s relationship-driven economy, the opposite is true. The founders who win hearts and wallets are the ones who lead with empathy and compassion.

Empathy is not weakness; it‘s a superpower. When you put yourself in your customers‘ shoes, you can solve their problems better than anyone else. When you truly see and care for your team, they‘ll run through walls for you.

Perhaps no entrepreneur embodies this better than Danny Meyer, founder of Union Square Hospitality Group. His restaurants are renowned not just for their exquisite food, but for their unparalleled service. The secret sauce? Hiring "51 percenters."

"We look for people with 51% emotional skills and 49% technical skills," Meyer explains. "They must have the innate desire and ability to make people feel cared for. We can teach anyone how to cook, but we can‘t teach them how to genuinely care."

Empathy begins with self-awareness. Check in with yourself regularly. How are you feeling physically, mentally and emotionally? What triggers you? What brings you joy? The better you understand your own needs and motivations, the more attuned you can be to others.

4. Compelling Communication

"The single biggest problem in communication is the illusion that it has taken place." – George Bernard Shaw

As an entrepreneur, you‘re constantly selling – to investors, partners, employees, and of course, customers. But the best communicators don‘t just deliver smooth pitches; they listen deeply and build authentic relationships.

When you make others feel truly heard and understood, you establish trust and loyalty that lasts. You‘re able to inspire people to see new possibilities and rally them around a shared vision for the future.

Take Carrie Dorr, founder of Pure Barre. In the early days of building her ballet-inspired fitness empire, she personally visited every new franchise location. She took the staff out to lunch, asked about their lives and dreams, and got them excited about the brand‘s mission to uplift women.

"People don‘t care how much you know until they know how much you care," Dorr reflects. "When you genuinely connect with your team as human beings first, they‘ll go to the ends of the earth for you and the business."

Before your next big meeting or negotiation, take a few minutes to ground yourself. Close your eyes, take some deep breaths and set an intention to be fully present. Then give the person you‘re with your complete attention. Ask probing questions. Reflect back what you heard. Watch their body language. You‘ll be amazed at the depth of insight and connection you can create.

5. Constant Curiosity

"The important thing is not to stop questioning. Curiosity has its own reason for existing." – Albert Einstein

In a rapidly changing world, the most dangerous thing an entrepreneur can say is, "But this is how we‘ve always done it." The startups that thrive are the ones that continuously question assumptions, seek out new perspectives, and experiment relentlessly.

Cultivating a beginner‘s mind – a state of openness, eagerness and lack of preconceptions – is key to staying innovative. When you approach every interaction and experience with fresh eyes, you discover nuances and opportunities others miss.

Consider Whitney Wolfe Herd, founder of Bumble. After leaving Tinder (which she also co-founded), she saw an opportunity to create a different kind of dating app – one where women make the first move. But her curious mind didn‘t stop there.

Wolfe Herd noticed many of her users were making platonic connections in addition to romantic ones. So she launched Bumble BFF for friendships and Bumble Bizz for professional networking. By following her curiosity, she expanded into a whole new category and demographic.

To stoke your own curiosity, make a list of 10 things you‘ve always wondered about your industry, market or customers. Then commit to researching one per week. Interview your target audience about their unmet needs and desires. Study companies in adjacent industries. Travel to a place you‘ve never been. Read books and listen to podcasts that challenge your worldview. Inspiration is everywhere when you open yourself up to it.

6. Focused Flexibility

"The entrepreneur always searches for change, responds to it, and exploits it as an opportunity." – Peter Drucker

The average startup pivots 3.6 times before finding product-market fit, according to research by Startup Genome. The ones that succeed are the ones that iterate quickly based on real-world feedback, letting go of ideas that don‘t work and doubling down on those that show promise.

This delicate dance between persistence and pivoting is what psychologists call "flexible focus." It‘s the ability to stay true to your overarching vision while nimbly adapting your strategies and tactics as new information emerges.

When the pandemic hit, countless startups had to do this on the fly. Take Sarah Paiji Yoo, co-founder of eco-friendly cleaning brand Blueland. With her supply chain and retail expansion plans suddenly in limbo, she had to get creative.

Yoo and her team swiftly reformulated their products to meet skyrocketing demand for hand soap and sanitizer. They also accelerated their direct-to-consumer efforts, launching a subscription service and ramping up digital marketing. As a result, Blueland‘s revenue grew 400% in 2020.

"We had to make a lot of tough decisions and trade-offs," Yoo reflects. "But ultimately, staying focused on our mission – to eliminate single-use plastics – gave us the clarity and conviction to keep moving forward."

When you find yourself getting attached to a particular plan or approach, pause and zoom out. Is this still the best way to achieve your ultimate goal? What new information do you have that might suggest a different path? Be willing to let go of what‘s not working and experiment with something new.

7. Abundant Optimism

"The only limit to our realization of tomorrow will be our doubts of today." – Franklin D. Roosevelt

Entrepreneurship is not for the faint of heart. To weather the inevitable ups and downs, you need an unshakable belief in yourself, your team and your vision. You have to maintain a sense of possibility and optimism even in the darkest of times.

This isn‘t about wearing rose-colored glasses or ignoring reality. It‘s about consciously choosing where you focus your attention and how you interpret setbacks. When you view challenges as opportunities for growth and learning, you stay motivated and resilient.

Perhaps no entrepreneur embodies this better than Sara Blakely (yes, her again). In the early days of Spanx, she was rejected by every manufacturer she approached. But instead of getting discouraged, she got creative.

Blakely bought a how-to book on patenting an invention and wrote her own patent. She cold-called mills until she found one willing to take a chance on her. And she personally stood in department stores handing out samples to customers.

"I didn‘t have the most experience in the industry or the most money," Blakely reflects. "But I cared the most."

Cultivating optimism starts with self-care. When you‘re well-rested, nourished and centered, it‘s much easier to see the bright side. Make time each day for activities that recharge you, whether it‘s exercising, meditating, journaling or spending time in nature.

It also helps to surround yourself with positive, supportive people. Join an entrepreneur group or mastermind where you can commiserate with others on the same rollercoaster ride. Celebrate your wins, no matter how small. And when doubt creeps in, remember why you started this journey in the first place.

8. Continuous Learning

"Live as if you were to die tomorrow. Learn as if you were to live forever." – Mahatma Gandhi

In today‘s fast-paced world, what you know is less important than how quickly you can learn. The most successful entrepreneurs are insatiably curious, always seeking out new skills, insights and perspectives.

This continuous learning mindset not only helps you stay ahead of the curve, but it also makes you a better leader. When you model humility and openness, you create a culture where everyone feels empowered to grow and contribute their best ideas.

Take Stewart Butterfield, co-founder of Slack. Before starting the now-ubiquitous workplace messaging app, he had no experience in enterprise software. But he was fascinated by the way people communicate and collaborate online.

Butterfield spent months researching the market, talking to potential customers and tinkering with prototypes. He also assembled a diverse team of experts in design, engineering and business. By learning from others and iterating rapidly, he was able to build a product that revolutionized how millions of people work.

"The most important thing is to have a genuine desire to learn," Butterfield says. "It‘s not about collecting degrees or certificates. It‘s about being curious, asking questions and seeking out new challenges."

To cultivate a learning mindset, start by setting aside dedicated time each week for education. Take an online course, attend a workshop or read a book on a topic outside your comfort zone. Seek out mentors and coaches who can help you identify blind spots and accelerate your growth. And embrace failure as a necessary part of the process. As Butterfield puts it, "If you‘re not embarrassed by the first version of your product, you‘ve launched too late."

9. Purpose-Driven Perseverance

"Purpose is the key to grit. When what you do has purpose and meaning, you are willing to push through any obstacle." – Angela Duckworth

Starting a business is a marathon, not a sprint. To sustain your energy and motivation over the long haul, you need a deep sense of purpose – a reason for doing what you‘re doing that goes beyond money or fame.

When you‘re driven by a mission that matters to you, setbacks become fuel for your fire. You‘re willing to do whatever it takes to bring your vision to life, no matter how long it takes or how many times you get knocked down.

Consider Patagonia founder Yvon Chouinard. From the beginning, his purpose was clear: to make the best outdoor gear while causing no unnecessary harm to the planet. This commitment has guided every decision he‘s made, from using recycled materials to giving away 1% of sales to environmental causes.

"There‘s no such thing as a successful business that‘s not based on a higher purpose," Chouinard says. "Without it, you‘ll never have the perseverance to get through the tough times."

To connect with your own sense of purpose, start by reflecting on your values and passions. What lights you up? What breaks your heart? What kind of impact do you want to have on the world? Write down your answers and refer back to them often, especially when the going gets tough.

It also helps to surround yourself with others who share your purpose. Join groups and attend events related to your mission. Collaborate with like-minded entrepreneurs and organizations. And don‘t be afraid to share your story with the world. As Chouinard puts it, "The more you talk about your values, the more you live them."

Putting It All Together

Cultivating these nine traits is a lifelong journey, not a destination. Even the most successful entrepreneurs are works in progress, constantly striving to learn and grow.

The key is to start where you are and take one small step at a time. Choose one trait to focus on this week and brainstorm three specific actions you can take to embody it more fully. Then do the same next week with another trait.

Remember, progress is more important than perfection. Celebrate your wins along the way, no matter how small. And when you stumble (which you will), dust yourself off and keep going. As Oprah Winfrey once said, "Failure is just life trying to move us in another direction."

Above all, trust the journey. Building a business is one of the most challenging and rewarding adventures you‘ll ever embark on. It will test you in ways you never imagined and bring out strengths you didn‘t know you had.

But if you stay true to yourself and your vision, if you surround yourself with people who believe in you and lift you up, if you never stop learning and growing…there‘s no limit to what you can achieve.

So what are you waiting for? Your entrepreneurial destiny awaits. Go forth and make it happen.