6 Skills Successful Entrepreneurs Have That Can't Be Taught
Last Update: Nov 9, 2020
It's been a while since I posted here at WA, so I thought what better time to write something then at my 4 year anniversary. :)
Over the years I've learned A LOT thanks to the training here within Wealthy Affiliate, by building my own websites, and gathering valuable nuggets of information from people who have gone on to make a very good income online.
And I can say that I've noticed a few traits that all these successful people have in common.
In fact Kyle wrote an amazing blog post back in July describing the 5 types of entrepreneurs and why some fail and others succeed.
So today I want to elaborate on what he said, and tell you 6 important skills that all successful entrepreneurs have -- which aren't taught in college or even here at WA.
It's skills that anyone can have, but sadly many people don't want to learn / implement -- and is the key difference I believe between people making money versus not making money.
1) Having A Strong Work Ethic
It goes without a doubt that people who are successful work extremely hard. In fact if you ask almost any one of them, they will tell you that they probably work harder than they ever did in a regular 9 - 5 job.
They are willing to sacrifice sleep and hobbies they enjoy ( like watching movies or going out to the bar with their friends ) so that they can move their business forward -- be it writing a blog post, answering some questions, or whatever.
And if you can adopt this one trait into your life, you can easily beat out 99% of your competition because they will waste their time doing anything but working on their business.
2) Being Passionate About Your Business
It goes without a doubt that successful people LOVE what they do and want to spend almost every second of their day working / growing their business.
You can easily see this in the content they write, the videos they make, and the pure enthusiasm that they show.
And I believe finding a topic you are passionate about is key to becoming successful -- because spending 4 - 8 hours a day working on something you don't like gets old fast.
This will result in you later down the road giving up because you find working on your business to be more of a job than something you eager to do each and every day.
3) Knowing How To Manage Your Time
When building / running a business, learning how to manage your time is very important.
When you are just starting out you are usually juggling building your business around a full time job and your family.
This means that you can only squeeze in a few hours in the morning, at night, and on the weekends.
And even when you get your business off the ground and are doing it full time, you still feel like you never have enough time in the day to do everything you want.
So learning how to do the most important task in your business at the start of the day ( like writing a blog post ) and doing the things that aren't as important later on is one easy way to help manage your time.
And another thing I found that helps me is to simply set a timer for each activity I do, then when it goes off I move onto something else.
This gives me a sort of accountability so I don't waste valuable time looking at social media or watching YouTube videos.
4) Accepting Failure And Learning From It
One of the best lessons you can learn early on is how to fail and fail often.
And the reason for this is that you quickly learn what does and does not work for you.
For example if you write 50 blog post and only 5 of them are on page 1 of Google, you have now discovered which type of content brings you traffic.
And you would of never learned this if you simply gave up after writing all that content.
So next time something doesn't work out the way you wanted it to, remember to see it as a learning experience and not dwell on the fact that things didn't go the way you planned.
5) Having Cofidence In Yourself
Another trait you'll see almost every entrepreneur have is they have confidence in themselves.
They know that they can succeed even when they have doubts or questions. Because at the end of the day, they know they can become successful in what they do.
And I believe too many people give up the second when things get hard or when they don't know how to do something ( like creating a YouTube video ).
But if you remind yourself that every successful person in life started off in the same place you did -- you will quickly see that all you have to do is believe in yourself and make sure nothing stops you from achieving your goals.
6) Knowing How To Be Patent
The last but not least, one of the most important traits you can learn to develop is how to be patient.
You will hear over and over again that building a business online does not happen overnight and that it takes a lot of work -- however many people don't realize just HOW much time and work in really takes.
So to help put it in perspective, I will show you two graphs to help demonstrate my point.
In this first one, Philip made a video demonstrating how long it took for one of his websites to start bringing in consistent traffic.
As you can see, it took about a year's time of writing articles each week before anything happened.
Then it took another 6 months after that until things started to really take off.
But more times then not people will give up within 4 - 6 months and say nothing is working.
In this next example you can see where this guy created a brand new YouTube channel and was publishing videos DAILY.
However again it took him a year and a half ( which would be around 550 videos ) before he saw any major results.
So again remember that in the beginning when it feels like all the work you are doing is for nothing -- know that your content WILL start to rank and you WILL start earning commissions.
But only if you have patience and don't give up after only spending a few months on your business.
What Skills Do You Think You Need To Learn Or Improve On?
To become a successful entrepreneur you without a doubt need to learn a strategy that has been proven to work as well as develop some important skills like how to build a website, write content, and thing of this nature.
And the cool thing is you can get all of this through the training here at WA!
However you need to remember that what separates the people who are successful from the people who fail is not what they know -- but having skill such as...
- A strong passion for what they do
- Knowing how to accept and learn from failure
- And so on
So I'm interested in knowing which one of these traits do you think you need to improve on, and which ones do you think you have mastered?
Let me know in the comments below. :)
Thanks for sharing.
All good advice gained from actual experience.
Like most of us, I want to see results NOW.... haha
However, having said that, I am here for the long haul because I am writing about stuff that I am passionate about and the actual process of writing helps me realize what I know, what I believe, and what I still don't know, so it is all good!
Have a great day :-)
I'm glad to see that you have found something you enjoy talking about as it will definitely make building your business easier and more fun :).
I look forward to hearing your success stories in the future. :)
Thanks for sharing. For me some of those are very difficult, especially the patience one!
I too found this one to particularly difficult, but I have found making small goals like getting a blog post to page 1 or making my first $1 makes this easier. :)
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Those are certainly 6 useful skills. Thanks for listing them for us.
No problem glad you enjoyed it. :)