Successful Young Entrepreneurs: 10 traits of a successful entrepreneur

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Today’s 25-something year old successful young entrepreneurs were around 10 years old when NETSCAPE went public, and were starting out for their middle school when was GOOGLE founded and launched. They watched the tech bubble booming even before their senior proms. So maybe it’s not surprising that millennial’s are embracing entrepreneurship from a very young age, to achieve something or solve some existing problems.

Well, its a matter of fact that Mark Zuckerberg, the now net $17.5 billion worth World’s youngest billionaire was just 20 years old when he founded ‘theFacebook’, now ‘Facebook’. Larry page and Sergey Brin were just 21 years old when they founded the now net worth $57 billion ‘Google’. So there are some characteristics or traits that these special entrepreneurs possess.

While the corporate world is bugged down with wanting more experienced professionals to do the job, these young entrepreneurs are making a living solving problems from their bedrooms and dorm rooms! Now that even with an internet connection and a computer you can master any skills to start an online business, the possibilities knows no bounds. There are also many myths about entrepreneurship that need to be clarified for these young rebels.

But what separates these successful young entrepreneurs from the rest lot is their striking characteristics and mindset that they live with.

 

See it for yourself what makes a successful young entrepreneurs’ traits you can learn from.

 

Nothing to Lose & Go for it Mindset

This comes out on the top and the matter of the fact is these 20-something entrepreneurs have nothing to lose. Their nothing to lose attitude makes them successful entrepreneurs, starting from their bedroom or dorm rooms, sipping on beer and eating noodles. They see problems, find a solution and just go build it. The go for it attitude of these 20-something entrepreneurs can’ be found in experienced people who are first time entrepreneurs, as they have a lot to lose.

These young entrepreneurs don’t have to worry about children, loans, mortgages and debt. So their mind is much free and nothing bugs them down.

 

They work hard after making up their mind

Entrepreneurship is in fact much tougher than corporate life, though it might be or might not be easier to make more money. Entrepreneurship means daily fight with whatsoever consequences and it truly reflects on your ability to deal with it. These are the creatures who see things differently. They work hard on their vision, which others may just see and perceive them as mere ‘dreams’. Although a corporate life will provide you with your needed stability, it will significantly decrease your odds of doing something on your own and solving real world problems. With today generations’ declining real wages, time-tested practices such as these are much less reliable for the younger generations.

These successful young entrepreneurs realize a lot earlier that you won’t make a fortune living a life in the corporate world and following authority. So they make a lot of personal sacrifices and walk the path that very of them choose to.

 

They avoid repeating mistakes

Successful Young Entrepreneurs: 10 traits of a successful entrepreneur

“A smart man makes a mistake, learns from it, and never makes that mistake again. But a wise man finds a smart man and learns from him how to avoid the mistake altogether.”

- Roy H. Williams

Mistakes are often made by everyone and it is not the mistakes that matter the most, but what you learn from it, and how to avoid it. What matters the most is these entrepreneurs’ desire to learn from them, avoid them the next time and gain the discipline needed to improvise on them. This is more important for young entrepreneurs, so they can learn from the mistakes they previously made.

However, the trait of admitting and becoming familiarized with their weaknesses, and then taking the necessary time to improve upon them is what separates successful young entrepreneurs from those who live in self-denial and never truly achieve their goals.

These successful young entrepreneurs do whatever it takes, whether it be turning to a mentor or reading books, to quickly defeat weaknesses as soon as they become aware of their existence and remain committed enough to identify them in the first place.

 

They are Resilient & persistent

Successful Young Entrepreneurs: 10 traits of a successful entrepreneur

Successful young entrepreneurs possess a quality of being resilient and persistent on their path to realizing their dreams. They are always looking forward to improve themselves as far as possible making the best of the situations around them. The successful young entrepreneurs are always persistent and consistent, they do not keep themselves down during tough times, instead they try hard to lift themselves up and fight the setbacks and obstacles they face on their way to achieve their dream.

These entrepreneurs don’t whine about the problems and instead find ways of solving them in a better way.

 

They are easily inspired

Inspiration is a must for entrepreneurs to get things going. Everyone needs a motivation to do something. This little push to do things matters a lot in the lives of the entrepreneurs. And what makes the successful young entrepreneurs different is that they find motivation in little things. They are easily inspired to do things from small things. They are always out on the prowl for more inspiration and finally find a way to do their thing.

Want more motivation?

List of 36 top motivational songs for entrepreneurs

List of top 25 most inspirational movies for entrepreneurs

 

They possess Creativity & Different outlook

Creativity is also one of the big driving factor for entrepreneurs to kick start their own business. Where others see problems, young entrepreneur’s come up with solutions for those in problems. The outlook and mindset of successful young entrepreneurs is perfectly focused on tackling real world problems.

Many of the young entrepreneurs fear, they fear failure and there are 20 strong reasons as to why one is not successful. These successful Entrepreneurs are brim with confidence in pursuing their creative endeavors. Creativity and the courage to engage it, is what makes a successful entrepreneur.

 

Their don’t care attitude

Many people of today’s generation spend a considerable amount of time to be overly concerned as to what others think. This is the exact opposite of what successful entrepreneurs do. They don’t care what other think.

These people are usually much engaged in their activities that they find no time and interest in thinking about what others would think. The entire purpose of young entrepreneurs is to step out the norm and to embrace the fact that you are different at a very young age. Only when an entrepreneur frees himself or herself from the fear of others’ thoughts only then they can they achieve really great things.

 

Their Networking skills

Successful Young Entrepreneurs: 10 traits of a successful entrepreneur

The entrepreneurs have a unique quality of always embracing change and fears. These people usually tend to get with anyone in their group and they socialize very easily and effectively. Although many of them may be considered as socially inept, but the right topic would keep them networking for hours in a row.

They like to network with the industry experts and thought leaders. They tend to keep them surrounded with much intelligent people.

 

They don’t fear to start again

As these young entrepreneurs have little to lose, they don’t fear to start again. Most of the today’s successful entrepreneurs have at least failed in one or more previous ventures before staring on their successful venture.

These people don’t fear to start again. The add the value learned from their previous experiences and start up again with a new idea and a new belief. They do not fear of failure nor for venturing in a new business.

 

Do foolish things but with enthusiasm

What makes a successful entrepreneur is being naive enough to do foolish things. These foolish things that they pursue with utmost enthusiasm. These ideas which are termed as foolish ideas during starting up go on to become multi-national corporations.

The successful entrepreneurs are naive enough to pursue their ideas with passion and the zeal to build something valuable.

You will do foolish things, but do them with enthusiasm.

- Collette

 

What do you think of these traits of a successful young entrepreneur? Have we missed anything? Feel free to add your comment below and spread the secrets of the successful entrepreneurs.

Srikanth A.N. is the founder and editor-in-chief of Infworm, one of the fastest growing technology and information destination. Srikanth is currently an Electronics Engineering undergrad from the University of Mumbai. Follow him on Google+.

3 Comments to Successful Young Entrepreneurs: 10 traits of a successful entrepreneur

  1. ObjectOriented

    Nice post. Maybe I need to apply and practice these traits so that I can pass it on unto my incoming children in the future. Thanks for sharing this, this is really great article.

  2. It only gets better when innovation comes in to place. Most ideas have been utilized, innovation is dying. Its time for us to solve problems with fixin whats already in place.

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