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The 3 Attributes That Entrepreneurs Need for Success Entrepreneurs need to learn valuable life lessons about failure, mistakes and growth.

By Gerard Adams

entrepreneur daily

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When you've been in the entrepreneurial game for a while, your ability to discern what does and doesn't work becomes elevated. As entrepreneurs we are generally free-thinking, creative, inspired people -- but knowing when to intelligently take risks and when to step back, is key to scaling your success. A good business is only as good as the people that build it up and that begins with a conscious awareness of when to jump and when to stay down.

Entrepreneurs shouldn't expect to run a successful business if they haven't put in any time learning valuable life lessons about failure, mistakes and growth. Nobody is born completely ready to be an entrepreneur -- many of the most successful businessmen learned hard lessons that helped them achieve their goals. Along with life experiences, certain emotional and mindset skills can aid entrepreneurs each step of the way. By developing certain entrepreneurial skills, you can help ensure that your future business endeavors will succeed.

Related: 6 Skills of Self-Made Millionaires That You Should Be Using, Too

1. Patience.

Patience can be one of the most challenging skills to build when you're entrepreneurial. First off, it can be difficult to wait for something to pan out when you're excited about it. Slow and steady really does win the race, typically because trying to force things to evolve too quickly can mean hasty decisions, not looking at the larger picture, and compromising on your own well-being. No point in rising to the top if you get there unable to enjoy it. There are tons of valuable reasons to be mindful about the growth of your business and the tactics you use to support its evolution. Stay grounded, stay patient, stay focused, make informed decisions.

At the same time, being too patient could be detrimental. Be sure not to confuse being patient with being inactive. There will always be more on your plate, so stay actively engaged with your next steps.

2. Drive.

One of the most important things any entrepreneur needs to build a business is drive. Success is never going to be guaranteed in any pursuit. Even businesses that were built seemingly perfectly from the start could fail. This type of experience can be disheartening, and many people could be inclined to give up on their goals in the wake of failure. However, failure can be an important part of the path of entrepreneurship. Summoning the drive to keep going, an indomitable will, is necessary.

Related: The 17 Skills Required to Succeed as an Entrepreneur

Drive is the only thing that keeps an entrepreneur going after an experience like this. In many ways, an entrepreneur needs to be hungry -- that means that he is never content to just stay where he is without continuing to dream of ways to move forward. You should know exactly what you're capable of and even failure shouldn't deter you from reaching your maximum potential as an entrepreneur or a human being.

3. Awareness.

It is easy to get swept up in your business. One way or another, you may find yourself getting too focused on a specific part of your business, or perhaps you're spending too much time on your business in general. Work-life balance applies to being an entrepreneur as well and your freshest thinking isn't going to happen when you've been grinding relentlessly without cutting yourself a break or doing something to shake things up.

A good entrepreneur needs to learn to be aware of everything around them. Make sure that your business is always moving forward. This means paying attention to your finances, employees and clients. Everything deserves attention.

Related: 5 Skills Every Successful Entrepreneur Must Master

Also, a good entrepreneur knows that there is a world outside of their business. Take time to continue to build yourself as an individual outside of your pursuits. Just like any business, there is always room for improvement in your personal life. That doesn't mean looking at your personal life like a business that needs to be nurtured, but rather as an extension of your own energy, so when it's not looking so good, it's time to take a look at yourself and what you need.

Gerard Adams

Entrepreneur, angel investor, self-made millionaire at 24

Gerard Adams is The Millennial Mentor™, inspiring the generation to leverage their passions for success and create the lifestyle they dream of. A serial entrepreneur, angel investor, self-made millionaire by the age of 24 and millennial himself, he is most popularly known as the co-founder of Elite Daily. To date, he has built, backed or invested in nine businesses across multiple industries that have all delivered over seven-figure profits. Gerard has recently developed a video series, Leaders Create Leaders, to offer a behind-the-scenes look at what it takes to be a successful entrepreneur. Learn more at

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