Do You Have What It Takes? Five Key Mindset Traits That Separate Successful Entrepreneurs

Starting a business is exciting, but let’s be real: It’s not for the faint of heart.

After advising hundreds of entrepreneurs over the past two decades, I’ve seen something fascinating: success rarely comes down to having the perfect idea, the biggest budget, or even the best connections. What really separates those who make it from those who stall out is mindset. My book, The Small Business Startup Revolution: Unlocking Entrepreneurial Success, begins by exploring mindset and its role in determining your entrepreneurial readiness.

The good news? Mindset can be learned, strengthened, and practiced like any other skill. So let’s dive into the five key traits that define successful entrepreneurs and explore whether you've got what it takes.

1. Resilience: Bounce Back Stronger

Every entrepreneur hits setbacks — lost clients, bad hires, botched product launches, unexpected expenses, and even pandemics. What makes successful business owners different? They don’t stay down for long.

Instead of seeing failure as a stop sign, they treat it as feedback.

 “That didn’t work. What can I learn from it, and how can I pivot?”

Resilience is the muscle that helps you show up again, even when the path gets rocky.

2. Curiosity: Never Stop Learning

The best entrepreneurs are obsessive learners. They read books, listen to podcasts, attend workshops, and ask lots of questions. Their curiosity keeps them agile and adaptable-- critical in a fast-changing market.

If you’re a person who wants to “figure it out once and never revisit it again,” entrepreneurship may frustrate you. But you're on the right track if you’re open to evolving.

3. Problem-Solving Mentality: Seek Solutions, Not Excuses

Running a business means putting out fires — sometimes daily. Successful entrepreneurs don't get stuck on “why” things went wrong. They shift quickly to “how” to fix it.

They stay calm under pressure, think creatively, and are willing to test imperfect solutions quickly. They ask themselves, “What can I do with what I have right now?”

4. Self-Discipline: Do the Work, Especially When You Don’t Feel Like It

No boss is looking over your shoulder. No clock to punch. That freedom can be a gift or a curse.

Winners show up consistently. They know that motivation comes and goes, but habits carry them through.

Whether it’s marketing outreach, bookkeeping, or planning, they put in the reps.

5. Clarity + Confidence: Know Why You're Doing This

The most successful entrepreneurs I’ve worked with can answer two questions without hesitation:

• What does success look like for you?

• Why does this business matter to you?

Their goals are clear, and their belief in their mission gives them the confidence to make bold moves — even when others doubt them.

Final Thought: What About You?

If you saw yourself in this list — great. Keep sharpening those traits. If you didn’t, that’s okay, too. Mindset isn’t fixed. Every trait above can be cultivated over time.

The very willingness to reflect and grow is a mindset win in itself.

So the question isn’t, “Do I have what it takes?”
It’s “Am I willing to do what it takes?”

Unfortunately, time confirms that many who think they are willing to do what it takes to reach their goals actually aren’t. If, after serious reflection, the honest answer to the last question is yes—congratulations—you’re already ahead!

Want to Go Deeper?

Would you like a simple self-assessment to help you identify your strengths and blind spots as an entrepreneur or business owner? Download my free Entrepreneurial Mindset Checklist. Go to the “My Gifts for You!” section on this website.