Ten years ago the U.S. Bureau of Labor Statistics reported a historic high in new businesses and job creation: more than 700,000 business establishments were “born” in 2006 alone. Though this monumental peak experienced a brief fall-off in 2010, the past five years have seen entrepreneurship grow at a remarkably staggering rate.
In 2015, the Global Entrepreneurship Monitor study found that 27 million working-age Americans were either starting or running a new business. This trend has since continued its growth in 2016 and is expected to keep increasing in coming years.
If you are one of the millions of people turning to entrepreneurship as an attractive career option, it might be helpful to better understand what personality traits are best suited to this path. Below are five attributes of young, successful millionaires who have grown their business from the ground up.
They Balance The Fine Line Of Successful Thinking
They Capitalize On Strengths
The Know How To Balance Opposites
They Never Say “I’ll Get To It Someday”
They Are Proud And Humble
Most young entrepreneurs are able to walk a fine line between competing mindsets in order to approach and overcome challenges. Convergent thinking, for example, can help you knit together differing ideas when coming up with a more definitive solution to a problem. Alternatively, divergent thinking requires you to generate ideas, ask questions, and think outside the infamous box to find ways to improve your business. Successful millionaires know just how and when to use alternative thinking strategies to better the success of their business.
Most young, successful entrepreneurs are able to identify their strengths and weaknesses and build a network of support around those attributes. Business hopefuls who operate by the “do it yourself if you want it done right” mindset will inevitably fail because they simply don’t allow themselves to employ the strengths of others to help them succeed.
Thus, in order to become a successful millionaire, you must be honest with yourself about which strengths you embody that could help your business grow. This can often be done by first identifying your weaknesses and harnessing a network of people who can counterbalance these voids. With the support of surrounding individuals, you can then focus 100% on your strengths and skills.
The most successful millionaires are masters at understanding when and how to act; instead of being frantic about their work, these individuals are brimming with an energy and passion that they can keep under control. Instead of coming off as hyperactive and scatterbrained, successful entrepreneurs are able to use hard work, focus, and concentration as ways to drive company growth and inspire others.
If you’re passionate about brainstorming, networking, and problem-solving, and if you find overcoming challenges incredibly satisfying, chances are you’ll also find gratification in being able to work seriously while doing what you love. It’s this trait that enables the most successful millionaires to continuously cross the meridian between work and play.
This simple, common phrase – “I’ll get to it someday” – is largely responsible for so many unaccomplished goals and unmet dreams. This is also a phrase that most young millionaires never use. Instead, these talented individuals operate with an incessant sense of urgency and take full advantage of every opportunity thrown their way.
It should be noted, too, that there is a fine line between being urgent and being frantic. Instead of being overly excited, unfocused, and unable to concentrate on a single task, as a prospective millionaire, you should be able to reach for new goals and ambitions with a sense of urgency and confidence that allows you to be opportunistic.
Lastly, one of the biggest attributes that young millionaires share is their ability to take pride in their success without coming off as boastful or arrogant. In order to be truly prosperous as an entrepreneur, you have to take pride in your work while also acknowledging that your success would not have been made possible without the people who came before you or those who’ve helped you succeed in your journey.
Being humble also means that you know your success was not solely your own. Without the challenges and setbacks you encountered along the way, as well as the support and assistance of others, you wouldn’t have the lucrative business you have today.
If you’re tired of saying “I’ll get to it someday” and are ready to get your entrepreneurial dreams off the ground, learn how joining our franchise family can accelerate your success. As a leader in the franchise industry, Bruges Waffles and Frites knows just what it takes to help individuals launch the career of their dreams. Call us today to learn why Bruges is the best franchise fit for you.