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2018-07-18 21:50:01What's NewEnglishDo you dream of one day owning your own business? Starting something from scratch that’s revolutionary, unique and created by you? To...https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2018/07/iStock-947119170.jpghttps://quickbooks.intuit.com/au/resources/whats-new/6-must-have-qualities-of-successful-founders/6 Must-Have Qualities Of Successful Founders | QuickBooks Australia

6 must-have qualities of successful founders

2 min read

Do you dream of one day owning your own business? Starting something from scratch that’s revolutionary, unique and created by you? There’s no denying that being an entrepreneur is an exciting path, and while it can be challenging, it can also be incredibly rewarding. To survive the ups and downs of being a founder, we’ve put together 6 qualities that can help you rise to the top.

1 Courage

Being a founder takes guts. It’s no secret that a high level of risk is involved when anyone chooses to start their own business, but a successful founder knows how to take that first step. They possess the courage to risk it all. This often stems from a deep level of self-belief, alongside strong convictions about their big business idea. Courage is a quality that will serve you well as a trail blazer.

2 Teachability

While the fear of failing will always be present, a good founder knows how to take failure for what it is. They understand how to learn from their mistakes – fast. When hit with disappointment, they can implement necessary change and move on quickly. Even if this isn’t your first inclination, it’s something you can learn to master over time as long as you stay teachable.

3 Creativity

There’s no doubt about it, a successful founder must have some level of creativity. They use their imagination to find solutions to problems, and are naturally inventive in their approach. Their creativity allows them to dream big and be a visionary for their business. Even founders can get stuck in the day-to-day running of the business and need to learn to exercise their creativity often.

Happy coworkers enjoying their work

4 Persistence

Rarely does an entrepreneur only have just one idea. More often, they end up trying many business ideas before landing on the one that turns into a success. A profitable founder must have the ability to persist when others would simply give up. They know how to try again and again, without being paralyzed by a fear of failure – they have persistence.

5 Humility

Often it can take many years but when success comes, it can happen fast. It can feel like one minute, you’re a struggling entrepreneur trying to make ends meet, the next, you’re being hailed as the latest and greatest startup founder. Humility keeps successful business owners grounded and forces them to simply keep going, despite your newfound fame.

6 Relationship-builder

Successful founders know how to build relationships – and not just for networking purposes. They know how to work with people, how to make friends, how to communicate well with others. It doesn’t matter if they are introverted or extroverted – they have emotional intelligence. They can build relationships with almost anybody,  and this skill only benefits the business in the long run.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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