There’s a lot of talk about “P” words: passion, perseverance, and persistence. I mistrust all three.
A lot of unsuccessful entrepreneurs have these traits as well. You have to have some variation on them, but you can have all three and still fail. You and I both know people who never made it—and never stopped trying, either.
My favorite “P” word in entrepreneurship is “planning,” but that’s just me. Stubbornness is good too (even though it doesn’t start with a “P”).
As in, understanding how other people think and feel about things.
Empathy leads to understanding what the people you sell to want, what they need, how they think, and how to best reach them. It’s hard to imagine somebody building a company without being able to put themselves in the buyer’s state of mind.
For dealing with vendors, customers, and employees. A successful entrepreneur needs to be able to be fair with those they do business with.
This is closely related to the sense of fairness. I just don’t see people building businesses without believing in what they’re doing.
Entrepreneurs need the ability to work shoulder to shoulder with other people.
To me, that’s much more important than what you do know. Know where you are weakest, and where your strengths lie.
It’s important to listen carefully. When necessary, shut up.
Imagining a happy future. Dreaming.
Successful entrepreneurs need to have a solid vision of success and their end goals.
You have to deal with failure. Keep pitching.
From short to long-term in an instant, and mixing those viewpoints together. It’s like dribbling—keeping your eyes up while managing the ball at your feet.