In my previous blog post, I discussed four traits that every entrepreneur needs. On the flip side, there are several traits that can hinder even the most enthusiastic tycoons. This list covers the four detrimental traits that can impact entrepreneurial success.
Inflexibility
The most successful entrepreneurs know that flexibility is a key trait, no matter what industry you’re in. In an interview with Forbes, Dawn Dickson, the creator of Flat Out of Heels, describes the importance of pivoting in any entrepreneurial venture. Dickson said a failed $12,000 investment inspired her to keep going rather than give up. Her pivot in the wake of the loss involved adjusting every element of the business model, from distribution channel to customer acquisition. Her story, like many others, proves a flexible entrepreneur is a successful one.
Impatience
In any business, short-term decisions pave the way to long-term successes. Being patient with regards to long-term developments helps maintain motivation, but if you find yourself tapping your foot at slow-moving progress, remember Aesop’s tale of the tortoise and the hare—slow and steady wins the race. There will be moments in your venture during which you’ll feel disheartened or frustrated, and it’s healthy to express those feelings. In spite of this, you should look at your progress so far and appreciate what you’ve been able to accomplish since the inception of your undertaking.
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