{"id":1348,"date":"2016-12-08T08:42:32","date_gmt":"2016-12-08T14:42:32","guid":{"rendered":"https:\/\/www.sunbeltnetwork.com\/milwaukee-wi\/?p=1348"},"modified":"2022-07-05T14:02:07","modified_gmt":"2022-07-05T14:02:07","slug":"4-traits-true-entrepreneur","status":"publish","type":"post","link":"https:\/\/www.sunbeltnetwork.com\/milwaukee-wi\/4-traits-true-entrepreneur\/","title":{"rendered":"4 Traits of a True Entrepreneur"},"content":{"rendered":"

By Kari Lukovics<\/a><\/span>, Axial<\/p>\n

What makes a successful entrepreneur? At a recent event hosted by Deals and Divas<\/a>, CEOs discussed their experiences building their businesses and the lessons they learned in the process.<\/p>\n

 <\/p>\n

\n
\n
\"Julie<\/dt>\n
Julie dePontbriand, ShopVenture<\/dd>\n<\/dl>\n
\n
\"Kari<\/dt>\n
Kari Saitowitz, The Fhitting Room<\/dd>\n<\/dl>\n
\n
\"Samira<\/dt>\n
Samira Salman, Salman Solutions<\/dd>\n<\/dl>\n<\/div>\n

1. Marry instinct and analysis.<\/h2>\n

Especially in the early days, entrepreneurs are forced to make challenging decisions with imperfect information. Moving quickly is important, but so is taking the time to research a decision fully.<\/p>\n

For example, it\u2019s critical to choose the right kind of legal business entity as it can affect taxes, earnings, and management in the long term. \u201cChoosing between creating a C-Corp or an LLC was difficult,\u201d says Julie dePontbriand of ShopVenture<\/a>, a platform for online shopping reviews.. \u201cI wanted to grow as quickly as possible but that was an important question I knew we couldn\u2019t skip.\u201d<\/p>\n

2. Think ahead.<\/h2>\n

Another top concern for business owners is identifying a substantial customer base and ensuring major change to the marketplace won\u2019t occur in the short- to mid-term. Kari Saitowitz, founder of boutique fitness studio Fhitting Room<\/a>, took a long, hard look at the industry she was entering before setting out. She had a feeling that her business would meet a need, but she knew she needed to quantify that instinct with data.\u00a0 \u201cI wanted to know if there was a real demand for our offer,\u201d says Saitowitz. \u201cAnd how quickly could the landscape change?\u201d<\/p>\n

3. See mistakes as opportunities for growth.<\/h2>\n

\u201cYou\u2019re going to waste time and money somewhere \u2014 it\u2019s a rite of passage,\u201d says Samira Salman, founder of advisory and consulting firm Salman Solutions<\/a>. While the success of any business relies heavily on the success of the CEO and management team, small setbacks and mistakes are no match for a truly inspired business owner. Errors are an opportunity to learn and improve.<\/p>\n

It\u2019s only natural that some mistakes will be expensive. \u201cFixing a problem can feel like ripping off a Band-Aid,\u201d says Salman. \u201cIt hurts, but it\u2019s always worth the money.\u201d<\/p>\n

4. Take surprises in stride.<\/h2>\n

Entrepreneurs wear many hats in the early stages of a business, from HR to marketing to accounting and more. In starting ShopVenture, dePontbriand says it was a shock to realize that her day-to-day was much less about building a brand and much more about \u201cestablishing a business structure and getting financials in order.\u201d Especially in the early stages, it\u2019s key to be flexible and willing to step outside your comfort zone or areas of expertise.<\/p>\n

Ask any entrepreneur and you will learn that expectations about building a business rarely match reality. \u201cI thought the most expensive aspect of my business would be the real estate, but it\u2019s actually the people,\u201d says Saitowitz.<\/p>\n

Don\u2019t try to go it alone. Connecting with fellow entrepreneurs<\/a>, a CEO coach, your board of advisors, and even your own employees can help you anticipate potential roadblocks before they arise.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Kari Lukovics, Axial What makes a successful entrepreneur? At a recent event hosted by Deals and Divas, CEOs discussed their experiences building their businesses and the lessons they learned in the process.   Julie dePontbriand, ShopVenture Kari Saitowitz, The Fhitting Room Samira Salman, Salman Solutions 1. Marry instinct and analysis. Especially in the early […]<\/p>\n","protected":false},"author":91,"featured_media":11650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[93,68,3,75],"tags":[132,133,134,135,136,137,25],"class_list":["post-1348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-education","category-business-start-ups","category-buying-a-business","category-woman-owned-businesses","tag-analysis","tag-entrepreneur","tag-forward-thinking","tag-instinct","tag-keep-your-stride-sunbelt-business-brokers-milwaukee","tag-opportunities-for-growth","tag-patti-wenzel"],"acf":[],"yoast_head":"\nFour traits of a successful entrepreneur<\/title>\n<meta name=\"description\" content=\"What makes a successful entrepreneur? Marry instinct and analysis. Think ahead. 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