{"id":4149,"date":"2018-05-01T16:30:00","date_gmt":"2018-05-01T16:30:00","guid":{"rendered":"https:\/\/fusionwm.com\/?p=4149"},"modified":"2022-10-13T16:37:57","modified_gmt":"2022-10-13T16:37:57","slug":"three-key-traits-of-entrepreneurs-who-are-driven-to-excel","status":"publish","type":"post","link":"https:\/\/fusionwm.com\/three-key-traits-of-entrepreneurs-who-are-driven-to-excel\/","title":{"rendered":"Three Key Traits of Entrepreneurs Who Are Driven to Excel"},"content":{"rendered":"\n
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Are you a driven entrepreneur\u2014one who is truly striving to make a dent in the universe? If so, you\u2019re in good company.<\/p>\n\n\n\n

Driven entrepreneurs are exceptionally motivated, exceptionally talented men and women who are highly committed to investing in all areas of their lives. For them, doing well means building a successful business, achieving their full potential and, in many cases, meaningfully helping other people.<\/p>\n\n\n\n

To put it in a somewhat cliched way, truly driven entrepreneurs want to be all that they can be.<\/p>\n\n\n\n

So who are these entrepreneurs, exactly?<\/p>\n\n\n\n

To gain a deeper understanding of the driven entrepreneur, we surveyed 759 North American entrepreneurs who are senior managers (all C-level executives) and have at least a 25 percent stake in their privately held businesses. The revenues at their companies had to be at least $5 million annually in each of the past three years.<\/p>\n\n\n\n

The result: About three out of five of the entrepreneurs in our survey can be classified as driven (see Exhibit 3).<\/p>\n\n\n

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The key traits of driven entrepreneurs<\/h1>\n\n\n\n

Entrepreneurs who are driven are, by definition, striving to build very successful firms. In analyzing the personalities <\/em>of driven entrepreneurs, three traits really stand out\u2014as summarized in Exhibit 4.<\/p>\n\n\n

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Trait #1: Excellence<\/h1>\n\n\n\n

Note that more than nine out of ten driven entrepreneurs profess to being exceedingly motivated to excel. This trait is characteristic of only about three-fifths of the entrepreneurs who are characterized as \u201cnot driven.\u201d Many driven entrepreneurs are highly competitive and do well in challenging environments. It is not uncommon for driven entrepreneurs to have what we refer to as a calculated obsession with achievement<\/em>.<\/p>\n\n\n\n

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Trait #2: Learning<\/h1>\n\n\n\n

Being a lifelong learner is the second key trait, cited by about four out of five of the driven entrepreneurs. Being open-minded and curious, as well as receptive to new ideas and opportunities, can readily translate into greater business success. Driven entrepreneurs are habitually seeking to expand their knowledge and understanding as they search for ideas, information and insights they can use to continue to excel.<\/p>\n\n\n\n

In stark contrast, only about one-third of non-driven entrepreneurs say they\u2019re on a lifelong quest to learn and grow.<\/p>\n\n\n\n

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Trait #3: Larger purpose<\/h1>\n\n\n\n

The two groups diverge most substantially when it comes to having a greater sense of purpose beyond themselves, their loved ones and their businesses. Many driven entrepreneurs are looking to create social value\u2014and even to change the world for the better. They are enthusiastic and determined to have a meaningful impact and leave a meaningful legacy.<\/p>\n\n\n\n

Note that what makes entrepreneurs driven is not simply that they have these characteristics\u2014but that they possess them to a much higher degree than their peers. Non-driven entrepreneurs clearly exhibit some of these traits\u2014but not to the extent we see them in driven business owners. Driven entrepreneurs also are better at integrating these traits in ways that enhance the overall impact.<\/p>\n\n\n\n

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Becoming increasingly competent and successful<\/h1>\n\n\n\n

Most entrepreneurs are looking for ways to become increasingly competent and successful\u2014and there are a number of ways they take action to improve their businesses, regardless of whether or not they are driven (see Exhibit 5).<\/p>\n\n\n\n

All four of these broad-based approaches can contribute to leadership and managerial development and to effectively solving conundrums. All these approaches can effectively:<\/p>\n\n\n\n