According to Jared Yellin, a business’ growth is only limited to its leaders’ aptitude.
That is why according to him, every entrepreneur needs to have these 7 KEY TRAITS in order to have the best odds of succeeding on their journey.
Jared, the CEO and Founder of Project10K, aims to raise and develop 10,000 tech start-ups in 10 years.
So far, he has Co-Founded 141 start-ups and has no plans of stopping anytime soon.
On his journey in Co-Founding 10,000 tech start-ups, he has learned a few key things that define a successful entrepreneur.
And as you read further, you will:
- Find out the 7 keys that make a successful entrepreneur
- Understand the importance of these key traits
Are you fit to be a ROCKSTAR FOUNDER-ENTREPRENEUR?
Find out on this episode of the Garlic Marketing Show.
- Industry Expert
Being an industry expert allows you to know the ins and outs of an industry.
It gives a huge advantage in developing products.
This is important due to one factor: IMMERSION.
This means knowing the industry’s strengths, flaws, and aspects to be addressed.
Being an Industry Expert also cuts the time for research, since understanding your market is key to running a successful product.
This goes back to the age-old concept of “NO MAN IS AN ISLAND.”
The concept applies when trying to build a start-up because are days when you might need to reach out to people for help.
“What influence means to me is not a fake Instagram following. Influence to me is relationship capital. So you have people that you can call that are going to want to help you either as an investor, as a connector, or as an end-user.”
- Business Intuition
When you’re running on deadlines, there is no time to learn the basics.
Every founder needs to have at least a framework of knowledge when it comes to running a business.
“With regards to the absolute necessity, they need to have some level of certainty and clarity around their business model. Like, how will this thing make money? And we’ll figure that out as we go, like, we get really deep into stuff, but what is the actual financial model that is attached to this business?”
Because let’s be honest, we build businesses to also make money.
YOU GOTTA BE GOOD AT SOMETHING.
Whether you’re good at marketing, writing, engineering, or whatever that is, you need to have skills that are useful in pushing your business forward.
This way, it would be easier for you to have a better scope of the risks and the actions you’d need to take to keep going.
- Emotional Stability
There has never been an entrepreneur who has not experienced hardships.
And these hardships aren’t easy on your emotions, leading you to make the worst decisions when you’re in a vulnerable state.
“So being an entrepreneur is like a roller coaster ride, right? Being a tech founder is like going to the scariest roller coaster in your entire amusement park and then not wearing your seatbelt– it’s crazy. Now with us, the dips aren’t as extreme because we know a lot.
We need emotional stability. Like when the highs are there, it still stays stable. When the lows are there, they still stay stable. So we’re looking for somebody with emotional stability. From there we need somebody that has like true clarity of the solution that they want to build.”
- True Clarity
You need to know what problems you’re facing, what solutions you have for that problem, and the actions that you need to take to get that solution running.
This is an essential part of being an entrepreneur to avoid running in circles and having the business go in a certain direction.
“They’re clear on the solution. Like this is the problem. This is the solution. We’ll figure out the features to support that solution.”
Confidence is probably the most noticeable trait that every successful entrepreneur possesses.
If we look at Mark Zuckerberg, Steve Jobs, and Elon Musk, one thing that they do in common is speaking in front of large audiences.
This task, being key, can be terrifying to many.
That is why confidence is extremely important to deliver the message that the company stands for.
“So confidence is key because we put our co-founders in environments like podcasts and stages.
I shared earlier that one of our co-founders actually had a chance to sell on the GrowthCon stage, which is Grant Cardone, who advanced 6,000 people in the audience, 30,000 online before he spoke with Donald Trump. After he spoke with 8 billion. He stood on stage and freaking did it here, with competence and certainty.”
- The Desire to Sell
What’s the point of running a business that doesn’t sell anything at all?
It’s as good as nothing.
That is why your job as an entrepreneur is to sell your product to your audience.
And not just the product, but your vision.
“We need people that will become the voice and the face of the company. And if they can’t sell the vision, we have to find someone that can, because we are the behind-the-scenes team.
We need somebody else to take the center stage. That’s our co-founder.”
If you ticked every number on this list, I have great news for you:
YOU’RE FIT TO BE A FOUNDER-ENTREPRENEUR.
And I personally wish you well on your journey.
Watch the full episode now, and make sure to leave any questions or comments you have about the episode.
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- Connect with Jared Yellin on Instagram:
- Visit Jared’s Website
- Try Out Synduit
- Innovative Idea? Submit Yours at Project10K
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