Leadership and entrepreneurialism work hand-in-hand. To become a successful entrepreneur you must understand how to be a great leader; it’s important to find out what it takes and follow the steps of other successful role models to ensure success.   

 

A great leader:

• Is self-aware; they know their strengths and weaknesses & can admit to them

• Has integrity; they are honest, open, and authentic

• Is resilient; they can overcome obstacles and keep moving forward

• Is decisive; they can make a quick and fair decision 

• Has strong communication skills; they can talk to all kinds of people

• Is approachable: it’s important that people feel comfortable around them

 

So what does it take to be a successful entrepreneur? Here are a few examples:

• A good idea or business plan - In order to become successful and create a profitable business you must have a good plan

• Good communication skills - You must be able to converse with people of different backgrounds and communicate effectively

• Resilience - You will likely be met with a lot of setbacks on your journey to success, but you must be willing to overcome these obstacles.

• Resources & funding - You may have the plans and the skills but without adequate funding and resources, you can only go so far.

 

Now you understand what it takes to be a successful leader and entrepreneur here are a few statistics from entrepreneurs based in the US:

• According to Age & High-Growth Entrepreneurship, a 50-year-old is 2.8 times more likely to create a successful startup than a 25 year old. 

• According to FreshBooks, the top skills business owners think you need to achieve success are good communication, problem solving and time management

• According to Oxford Economics, 74% of SME owners are willing to take a big risk to ensure future success

• According to Think Impact, 38% of entrepreneurs state that being self-disciplined is the most important factor

 

Entrepreneurship plays a crucial role in the US economy so it's no surprise that there are more than 31 million successful entrepreneurs in the US. With the right amount of determination, motivation and now these tips and tricks, you too can make your mark in the world of entrepreneurialism.