Much is made of analyzing the personality traits of successful entrepreneurs.
Some appear outgoing. Others are introverts. Some are flashy. Others are monk-like with their money.
Their diversity can lead one to the conclusion that there are no common personality traits among successful founders.
Rather than trying to understand who they are, let’s look at what they do.
Maximum Possibilities has had the opportunity to help many businesses improve their value, with some going on to exit their business for seven, eight, or even nine figures. As such, we have a unique vantage point from which to observe the owners and entrepreneurs who achieve the most financial success. This point of view has allowed us to observe three things the most successful owners do differently:
Entrepreneurs Read Business Books
Our most successful customers are voracious consumers of business content. When a new business book hits the bestseller list, most have either read it or summarized its central point.
Here are some titles that we recommend.
- The Infinite Game by Simon Sinek
- Good to Great by Jim Collins
- The Great Game of Business by Jack Stack
- The Fifth Discipline by Peter Senge
- The Power of Positive Thinking by Norman Vincent Peale
- The Power of Who by Bob Beau
- Built to Last: Successful Habits of Visionary Companies by James C. Collins and Jerry I. Porras
- The Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell
It’s not just the printed word. Many get information through audiobooks, webinars, or podcasts, others via YouTube.
The actual medium is less important to these successful founders. What’s consistent is their continuous learning pattern and the desire to leverage other people’s smart ideas and put them to work in their own company.
They Join Masterminds
In the absence of having a board of directors or a boss, successful entrepreneurs often use a peer board to hold themselves accountable and gain an outside perspective when they’re stuck.
Initially popularized by Napoleon Hill in his class book, Think & Grow Rich, a mastermind gathers a small group of peers to act as one another’s board. Often led by a chair, these groups become lifelines for owners as they navigate big decisions in their businesses and personal lives.
Entrepreneurs Ask Questions
The character trait that makes successful entrepreneurs inclined to read business books and join peer groups is their natural curiosity. They have an unquenchable thirst for knowledge. No matter how successful, they never get full.
You may be surprised not to see the stereotypical attributes of successful entrepreneurs. Many founders are also action-oriented, competitive, tenacious, etc., but all those common personality traits are who they are. Our interest is what they do.
Actions are the measure of a person. Look at what a founder does to stay sharp, and you’ll see a consistent pattern among the most successful entrepreneurs you know.
Maximize Yourself with Maximum Possibilities
At Maximum Possibilities, we care as much about you as a person as we do your business. We consider ourselves your partner in achieving the maximum potential for your business.
Your success is our success. Let’s discuss ways we can help you be the best entrepreneur. Then we can discuss the best practices to increase the value of your business, and how to position it for a potential merger or acquisition.
Call today and let’s get started building the future, today.