Do you have the most valuable traits to be a successful entrepreneur?

Successful entrepreneurs share several common features and traits. Even if you don’t have these, you can develop them with practice and perseverance.

More than likely, though, you already have some of these traits if you consider becoming a successful LNC entrepreneur. Even if you need to work on some of them, you’re on the right track.

LNC Entrepreneur Traits

Warning: The first attribute below is a myth. I put it at the top of the list because you may harbor the fear that it’s true.

They Are Fearless. (They are not.)

The truth is that fearless people may have brief life spans. Fear can help us make lifesaving decisions. Those who quietly backed away from the saber-toothed tiger became our ancestors. Those who didn’t probably lost their opportunity to contribute to today’s gene pool.

Let’s try this wording instead.

They Don’t Let Fear Stop Them

That’s true. The first Americans to walk on the moon probably weren’t truly fearless, but they felt fear and then had enough confidence in their convictions to work through the fear and do it anyway.

They Make Actionable Plans

An LNC entrepreneur plans to do things, but they don’t just make plans – they make actionable plans. Making plans and setting goals to form part of the process. Doing brings plans to fulfillment Without action, nothing becomes a reality. At some point, making plans has to become taking action to get things done.

They Understand Cash Flow

Many new entrepreneurs think that income is an indicator of success, but the truth is, without adequate cash flow, a business that earns money can still fail. Cash flow management is a critical element in running a successful business. Your bills are due at a specific time, and billables are due at a specific time, but you know it doesn’t always work out. Work hard to understand cash flow so that you can be truly successful.

They Know It’s Not About Them

You’ve heard it before – the client always comes first. But you won’t ever recognize the reality of this statement until you’re an entrepreneur. You have to learn to separate your wants and desires from your clients’ wants and desires. The client should drive your services and even price point more than your passions and dreams should.

They Aren’t Afraid to Self-Promote

As an LNC entrepreneur, you must let go of shyness and promote. Become an expert. Be known as the “go-to” person in your niche, and you’ll have people pounding down your door to get what you have. You can’t get there if you are too afraid to be a self-promoter.

Build an LNC business you’re proud of, and you’ll develop a passion for promoting it.

They Take Action

To take action, you need a clear vision, and you must be willing to overcome obstacles that get in your way. Taking action alone won’t get results, but taking smart action with a reason will. You must know the difference.

They Listen

One skill trait that an LNC entrepreneur has that helps them succeed is to stop talking and listening to what their client is saying. Open your ears and listen to other people’s ideas, criticisms, and desires.

They Keep Learning

As an entrepreneur, you need to research and evaluate the market, your customers, and your competitors. You also have to keep up with general consumer trends. It will also help you to keep up with business books, self-help books, and anything else that interests you. You never know what may spark your imagination.

Developing an LNC entrepreneurial mindset and building your skills can be a process you work on as you start your new business venture or continue in a business you’ve already started. Identifying where you are deficient will help you progress and succeed as an entrepreneur.

8 LNC Entrepreneur Traits:

Evaluate how capable you feel in the qualities described in this post.

1. They don’t let fear stop them.
2. They make actionable plans.
3. They understand cash flow.
4. They know it isn’t about them.
5. They aren’t afraid to self-promote.
6. They take action.
7. They listen.
8. They keep learning.

You might write something like, “I AM afraid to self-promoter. It feels pushy like it’s all about me. I don’t want to be a nuisance.”

Keep on writing until you run out of things to say. When you finish, you will have valuable information about what makes you afraid to self-promote. You can develop a plan to resolve your fears.

I chose this quality because fear of self-promotion is one of the biggest obstacles would-be entrepreneurs face. If this is one of yours, you’re not alone. You can find a lot of books and articles on the subject. You can hire a coach or join an entrepreneurial group to help each other with this issue.

My recommendations can generally apply to cultivating any of the traits listed above.

That’s why “They keep learning” may be the most important quality on the list. When you learn, you absorb information about a subject, and if you’re receptive, you also learn about yourself.

Learn how to set up your LNC business for success in my latest book, “Be the Boss of Your Own Business: Tips for Success.”  

Learn how to set up your LNC business for success in my latest book, “Be the Boss of Your Own Business: Tips for Success.”  

Click here to grab your copy today.

Pat Iyer is president of The Pat Iyer Group, which develops resources to assist LNCs in obtaining more clients, making more money, and achieving their business goals and dreams.

Pat’s related websites include the continuing education provided on LNCEU.com, the podcasts broadcast at podcast.legalnursebusiness.com, and writing tips supplied at patiyer.com.

Get all of Pat’s content in one place by downloading the mobile app, Expert Edu at www.legalnursebusiness.com/expertedu. Watch videos, listen to podcasts, read blogs, watch online courses and training, and more.