Lifestyle Upgrades – 7 Traits Of An Effective Leader (Entrepreneur Magazine)

Being an entrepreneur requires taking responsibility for your life and demonstrating leadership skills.  These leadership skills are rarely second nature and need to be worked on daily for you to be truly successful.

I came across this article from Entrepreneur Magazine discussing the top 7 traits of an effective leader.

Although this article is directed primarily at larger business owners, these traits also apply to solopreneurs and small business owners, so is worth examination for any useful tips.

Let’s go through these one at a time and I will add my view as I believe some points to be extremely important, and some, perhaps, I find to be a little contentious:

1. Courage.  This is very important as you will need to take risks.  However, successful entrepreneurs only actually take on low risk activities so it is crucial to fully weigh up all risks involved before taking the plunge.  Being a risk taker in the widely portrayed sense is a recipe for disaster and this thought turns many people away from going the entrepreneur route.

Another point on courage.  Taking full ownership for your decisions is necessary.  However, there are times when things do not go as planned and a change in direction will be crucial.  This is where a certain amount of flexibility is required.

2. Persistence is required to carry on when the goal seems so far away but you know you can and must reach it.  This is especially important to keep you going when things are not going your way.  So many successful people have stories about succeeding just after a key point where they were about to quit.

This is where the ‘Why’ is so important.  Why do you want to be a successful entrepreneur: money, supporting your community or charities, assisting others, improving mankind…?

3. Hard work is always required, particularly while you are getting yourself set up and your business up and running.  However, there should come a point in time where you are ‘in flow’ and things will seem to happen for you with little effort.  This is an important self-development trait that needs to be developed and leaders such as Vishen Lakhiani of often refers to.

4. Failures are inevitable and come about because entrepreneurs are always trying new things and trying different ways to do old things.  Failures are not really failures, but learning how not to do things.  A natural part of your growth.

5. Awareness of how your business is operating and running is always essential.  Although you will not have to be an expert in every field, you will at least need to understand enough to know what is required and if any particular part of your business is in need of improvement.

6. Being humble.  The most successful of entrepreneurs are the most caring and humble people you will ever meet.  Very often they have come from a bad place at some point in their life and have come to appreciate what they have achieved.  Many such people are also keen to give back and help others who are on the same entrepreneurial path they once were.

7. Acceptance is required to give your team members full support.  Most people are good people at heart and, treated well, they will do their work to the best of their ability.  By accepting them for who they are and encouraging their strengths will help them grow, be happy, and support your business.

It is also worth mentioning here that you must appreciate your own strengths and weaknesses to allow your business to flourish.  By letting others perform the tasks that you are not so good at, you can then spend your valuable time doing what you excel at.  This is the best way for your business to grow to the next level and beyond.

I recommend that you read the Entrepreneur Magazine article here as it also covers some points that I have not discussed above.

Dream big and take action 👍
Scott 😃

I have an active Facebook page that I regularly update with new blogs that I post on this site covering health, wealth and self-improvement.  I also post inspirational quotes from the entrepreneurial successes and share other motivational Facebook posts from entrepreneurs that I follow that have a message that you may be interested in.  So please visit my Facebook page by clicking <here> and following me.

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