Being a successful entrepreneur takes a lot of hard work and dedication. Steve Scott understands what is needed to start a successful business. In 1993, he started Scott’s Pawn & Jewelry, Alabama’s best pawn shop. They have three locations across the southeast, with plans to open a fourth location in the next several months. So, what does it take to be a successful entrepreneur? The following are common personality traits that most successful entrepreneurs possess.
All successful entrepreneurs are driven by their passion. While you may believe that successful entrepreneurs are in it for the money, many actually work insane hours for little to no money. Their passion and need to do something for the greater good are what drives them to do what they do. Through all of the trials and challenges that entrepreneurs face, their passion is what motivates them, no matter how bad things get.
All successful entrepreneurs are resilient. As an entrepreneur, you are guaranteed to face failure. When something drastic happens, entrepreneurs are able to pick themselves up and move forward, learning from their failures. They are constantly asking themselves what went wrong and how they can succeed next time. When times get rough they have the ability to continue to move forward. They are extremely resilient and thrive off the challenges.
Every entrepreneur faces numerous challenges, whether it is not being able to secure enough funding, facing their competition head on, or proving their naysayers wrong. This makes it important for entrepreneurs to be extremely self-confident in what they do and what they can accomplish. Entrepreneurs that are successful know that their ideas are good and they are motivated enough to show others that those ideas are worth the time and investment to move forward.
It is crucial for any business to be able to adapt to challenges and changes in the industry. Entrepreneurs have to be flexible enough to understand when they have to make adjustments to make their ideas feasible. They also have to be willing to modify their plans when they receive new information or when the face a change in circumstances. Most entrepreneurs will tell you that their business plans have drastically changed over the course of business and are completely different than when they started.
Entrepreneurs are innovators who see opportunities everywhere. They are always looking to develop new ideas or improve existing products or services. Their vision to make things better are the reason they became entrepreneurs in the first place. When an entrepreneur sees something that can be better, instead of just saying that it could be better, they do something about it. They develop a plan and put it in motion. Entrepreneurs must be able to have the vision to discover new things and have the vision to see it through.
Entrepreneurs come in all shapes and sizes. The most successful ones possess the traits listed above. Steve Scott, owner, and operator of Scott’s Pawn & Jewelry has spent the last twenty-four years building his business. Named Alabama’s Best Pawn Shops, they are getting ready to open their fourth location in Roebuck, Alabama.