27 BIG characteristics

that make Entrepreneurs

unstoppable!
Toney Fitzgerald
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Copyright Toney Fitzgerald and The BIG Business 2010

www.thebigbusiness.com.au

First Published May 2010

Printed in Australia

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Dear Entrepreneur or Business Owner,

Thank you for subscribing to my free e-book to find out what makes successful Entrepreneurs
unstoppable.

No matter what level or stage you are at in your business, this e-book is for you. If you are
still at the start up stage, consider it to be insightful and something that will give you a new
awareness of business. If you are a seasoned entrepreneur or business owner, consider it to
be a reminder or a refresher to confirm and validate the core characteristics that will make you
successful. The bottom line is this: no matter at what stage you are at, its a must to revisit
these characteristics every once in a while.

Let me say at this point, that all successful entrepreneurs and business owners have these
fundamental characteristics. They are what I consider to be the defining characteristics that
separate the best from the rest. They form the very foundations of their success.

There may be other key attributes; however, my research into successful entrepreneurs
throughout the world shows them to be what they all have in common.

Key ingredients of success that I list below are not in any particular order.

Carry this around with you and read it frequently or jot down the main points on a business
card size piece of paper and keep it with you at all times.

As we cover each topic, I want you to rate yourself between 0 10, with O being you have
absolutely no clue and 10 being you are clued up you understand it, know it, get it and it is
part of who you are! Why am I asking you to do this? Well, whatever the gap is between the
number you wrote down and 10, that is the gap for improvement. You must get to 10 thats
your goal.

Lets look now at the key characteristics that separate the elite from the rest.

Toney Fitzgerald
 1. Think BIG
If you are going to be unstoppable in business, you have to make sure that you think
BIG. You must visualise your business as an anything possible business. Look at all
the successful entrepreneurs who names are up in lights: there will no doubt be many
who come to mind. Donald Trump said, If you are going to think anyway, think BIG!

BIG action step: Take time out to think about your business.
Get a pen and workbook and stretch your mind. What is
the BIG picture? Keep the BIG picture evolving.

Rate yourself: 1 10: where are you?

2. Failure
Failure is your friend, embrace failure as your teacher. The fact is that most successful
entrepreneurs fail three or four times before they get it right. As an entrepreneur,
do not anticipate things to occur as you always expect. The path or journey that
you are on will have its success and it will have its failures. Theres a saying that it
does matter what happens to you, its what you do about it that counts. The key
characteristic with most successful entrepreneurs is that failure is not an option.

This doesnt mean that youre not going to fail. What I mean is that you should not
allow a failure to stop you. Every time you experience a failure, ask yourself the
question, What did I learn from that? Fail forward and you will be unstoppable.

BIG action step: I want you to study failure. What does it really mean?
There is a great book called Failing Forward by John Maxwell. Its the best
strategic guide I have ever read. Also, see if you can talk to successful
entrepreneurs about their failures and what they did to turn it around!

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 1

 3. Do whatever it takes, no matter what
Regardless of the obstacles in their way, successful entrepreneurs will
go to any lengths to overcome them. There are many who give up easily
- and for many reasons - however, the successful ones forge on. They
have a dont tell me how it cant be done, tell me how it can be done
attitude. They are totally committed to doing whatever it takes.

BIG action step: I want you to underline NO MATTER WHAT and make this
your mantra. If you really, really want your business venture to be a BIG success,
you have to pull out all the stops to make it happen. Keep this in the forefront
of your mind: Dont tell me how it cant be done, tell me how it can be done!

Rate yourself: 1 10: where are you?

4. Commitment
This has been called the essence of our growth. There can only be personal and
career development if there is commitment. There are many different degrees of
commitment. Deciding to pursue a goal is a form of commitment, but being prepared
to do whatever it takes to achieve it is clearly a more intense form of commitment.

Your businesses wont become successful if you are not 100% behind
it and your vision. Deciding to pursue a goal is a form of commitment,
but being prepared to do whatever it takes to achieve it is clearly a more
intense commitment. To sustain a successful business relationship - just as
it is to be outstanding in your chosen sport - you have to be committed,
you have to action your plans and you have to follow through.

What time do you get up in the morning? Most

successful entrepreneurs get up at 5am.

BIG action step: How committed are you to your business ventures success?
Remember, the more intense you make it, the better the results you will have.

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 2

 5. Focus
Whatever you focus on expands, therefore stay absolutely
focused on what matters most for you to succeed.

The important point is to stay on track and to have the ability to concentrate on one
thing to the exclusion of all others. Focusing equates to prioritising. It means putting
the bulk of your efforts into things that really make the difference. If there is too
much stuff on your radar screen, you will not be focused. When you are focused make
sure you execute your intentions. This is the key to moving your idea on beyond the
talking stage. Organise your thoughts and align yourself with pinpoint accuracy.

FOCUS can be an acronym for Follow One Course Until Successful. Successful
entrepreneurs never lose sight of the dream to build a big venture.

The late billionaire Richard Pratt said part of his

success came from being totally focused.

BIG action step: I suggest you strive to understand the power of focus and the
power behind it. Do not get distracted and be taken off your course of success.

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 3

 6. Selling Skills
If you look at most entrepreneurs who are successful, you can pretty much
guarantee that somewhere in their past they started out in selling or they
learnt the art of selling at a young age. Selling skills are paramount if youre
going to sell yourself, your company, your products, and your services.
If you dont get their signature on a cheque in return for your services or
goods, you will be out of business in no time. If you are going to raise capital
for your business venture, you have to be an outstanding sales person to
convince investors or venture capitalist to invest in you and your team.

BIG action step: Nothing happens without a sale. If you think

you can sell ice to Eskimos, thats great, however if you feel you
are lacking in this area, then I suggest you get some sales training
or read 20 books on selling. Become a sales champion.

Rate yourself: 1 10: where are you?

7. Risk Taking
How much risk are you willing to take? Entrepreneurs are risk takers and they
are willing to put everything on the line in their pursuit of success. However,
they take calculated risks and look at both the up side and the down side.

BIG action step: If you want to succeed, chances are you are going to
have to take some risks. Remember the saying: no pain, no gain. Well,
this applies to the business world as well. If you are not comfortable
about taking any risks, then you should seriously reconsider whether
you are cut out to be an entrepreneur. Remember though, that you are
most probably taking some form of risk each and every day. Just getting
out of bed in the morning brings with it a certain amount of risk.

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 4

 8. Drive
How much drive does it take to build a business? Successful entrepreneurs
are very driven people, they have to be to reach their goals. Many are driven
wholeheartedly with determination for many different reasons. Ask any successful
entrepreneur what drives them and they may tell you purpose, passion, the
power of the dollar, financial freedom, wanting to make a difference, creating and
leaving a legacy ... the list goes on. On the other hand, some may be driven by
fear the fear of poverty, scarcity, of not being seen as successful, or adversity.

Imagine the drive needed to win a rugby scrum and to push over the line.
It requires effort and force to move forward, sometime vigorously.

BIG action step: So what really drives you? Do you know or are you
still guessing? I suggest you drill down on this and really get to know what
your motivating factors are. Whats driving you to be successful?
Rate yourself: 1 10: where are you?

9. Passion
What subject inspires is the most powerful or compelling emotion that
you have for your business? Is it music, sport, food, environment, charities,
wine or beer, films, technology, fishing, cars or motorbikes?

What do you love or hate? The founders of Lonely Planet Travel Guide are passionate
about their love of travel and have built a global publishing business based on it.

Al Gore hates the environment being damaged by greenhouse emissions so it has

become his passion to save the world. Bill Gates is passionate about innovation
and technology, whereas Donald Trump is passionate about real estate. I have
never come across an entrepreneur who was not passionate about something.

Once you get connected to the power of passion, you become unstoppable.

27 BIG characteristics that make Entrepreneurs unstoppable! 5

 Passion...
BIG action step: Know your passion and get very clear on what that
it is. People can pick up on passionate people. Sometime you may lose
your passion but if you do, you can always get it back; you just have to
look for it again. Its seeds will be deep down inside you somewhere.

Rate yourself: 1 10: where are you?

10. Self belief

Belief is state of certainty and to achieve any goal in life, you must believe
you are going to be successful. If you do not, you are likely to fail. You have
to set out and continuously have self belief that you can do it. I am sure there
will be some days that the negative internal chatter will be your hardest
critic, however, having the belief that you can climb Mount Everest definitely
helps. No matter what happens and how many setbacks you experience
along the way, you have to back yourself. You have to believe that you will
be successful. You have to see yourself as a successful entrepreneur.

BIG action step: Do you work towards new goals with a conviction that you
will succeed? Do you have a BIG picture of success in your mind and a feeling
that this is as it is meant to be? The fact is you will go through times when you
will have total self belief and other times when you will have a limiting self belief.

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 6

 11. Determination
Are you determined to succeed? Most people would answer, "yes". So
why is it that some succeed while others dont? Determined people have
a firmness of purpose and a fixed intention to get want they want in life
as well as in business. They have a dogged determination to surmount all
obstacles and in so doing, to make sure they succeed. Nothing in the world
can take the place of persistence and determination its omnipotent.

Dale Carnegie once said that most of the important things in the
world have been accomplished by people who have kept on trying
when there seemed to be no hope at all. How true that is.

BIG action step: There is nothing more powerful than the determination to
succeed in anything you do. Write down why you are determined to success.

Rate yourself: 1 10: where are you?

12. Courage
It is often misunderstood by most people just how courageous one has to be to go
into business for oneself. It takes a great deal of courage to quit your day job and
become self employed. And it also takes courage to remain in business by yourself.

Being self employed is one thing; being an entrepreneur is quite another.

It usually takes copious amounts of courage to tread this path.

BIG action step: How courageous are you? Would you describe
yourself as courageous? Do you understand just what it means to be
courageous? What is the difference between courage and risk taking?
Jot down your answer and then think where you stand on this.

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 7

 13. Vision
One of the most striking characteristics of an entrepreneur is that they all
have a very clear vision of what they are striving to achieve. They can see, very
clearly, what their business will look like when they have finished building it.
This is important because if you dont know exactly what the business you are
building will look like when finished, how will you know what elements to put
in place to get it there? This is much like building a house without a plan. If
your idea is just to build a house, your builder wont know whether to lay the
foundations deeper so that he can build a double storey house, or whether
he must lay a foundation for a single storey house. How many rooms must it
have? One garage or two? Can you see why having a clear vision is vital?

BIG action step: Turn something into concrete from an idea. Never waiver
from your vision and have utter belief and commitment to your vision.

Rate yourself: 1 10: where are you?

14. Hard work

How many hours are you going to put into your business? Successful
entrepreneurs work long hours, however, the hard work they put into
a business is not really hard work; they work smarter, not harder.

I recall one entrepreneur who used to sleep on her couch to be able to put
more hours in. Of course, when you become very successful and are a multi
millionaire (or even a billionaire) you might be able to back off a wee bit.

BIG action step: How many hours are you putting in right now?
Are you doing whatever it takes to succeed? Or do you still have the
employee mentality, you know, working 9 to 5. Are you prepared to work
through the night or over the weekend (every weekend if necessary)?
Start working with an eye on your To Do list and not the clock.

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 8

 15. Perseverance
No matter how hard it will seem, you must persevere and have the determination to
go on to make your business dream come alive. There will be some days you will want
to throw in the towel and give up the fight. Things wont happen as fast as you would
like and the daily challenges and complexities may build up and overwhelm you.

Life for the entrepreneur and those around him or her can be an emotional
roller-coaster ride. You will feel stressed, you will feel anxious, you will feel
challenged, but the key thing is to never let go of your vision and what you
want to accomplish. Continually strive and have a determined spirit. Have
faith in everything you do and push steadily forward with courage. Have
the willingness to press on regardless of the barriers that are thrown in
your way, and have the energy and persistence to conquer all things.

BIG action step: What are you doing on a daily basis to ensure you remain
determined to succeed in business? What are you doing to ensure you persevere?
Some successful entrepreneurs make a dream sheet that includes words,
photographs, diagrams or anything else that reminds them of their ultimate goals
and vision. This is displayed in a prominent place where they can see it daily.

Rate yourself: 1 10: where are you?

16. Wisdom
This is the ability to discern or judge what is true, right, or lasting. Think of it as insight.

It could also be described as common sense or good judgment. "It is a

characteristic of wisdom not to do desperate things" (Henry David Thoreau).

Are there any wise sayings or teachings that you follow? These
are commonly called precepts. Learn from those who have gone
before you. There really is no need to reinvent the wheel.

It is also important to realise that wisdom comes with age or experience. So learn
from what you have done before. Nothing is wasted in business (and life).

27 BIG characteristics that make Entrepreneurs unstoppable! 9

 Wisdom...
BIG action step: Most successful entrepreneurs will tell you that it is wise
to plan for success. So how wise are you as a business person? Have you
heard the saying, Walk with the wise? Well, make sure you do. Start hanging
out with entrepreneurs you respect and admire. Find out where they associate
and hang out there too. This will help you to take a leaf out of their book.

Rate yourself: 1 10: where are you?

17. Self discipline

You are accountable for your results, no one else is. To build a successful
business venture you have to have self discipline. The discipline to
train yourself for improvement is a must. I suggest you make a list of
the different areas you can exercise your self-discipline skills in.

Learn how to build self discipline and find better ways to be self disciplined. Do you
think Donald Trump is disciplined? you bet he is. Discipline is one of his core traits.

BIG action step: Are you able to control your very thoughts? Can you work
your way through what needs to be done in your business on a daily basis?
Do you find yourself being easily distracted? Are you able to work effectively
from a home-office, or do you prefer reporting to a boss? The biggest enemy
of any entrepreneur is procrastination, and this, I believe, is a good indicator
of poor self discipline. What can you do to improve your self-discipline?

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 10

 18. Common sense
This is another characteristic of the successful entrepreneur. Call it a sixth
sense or gut feel if you like, but common sense is something everyone in
business for themselves needs. The world of business can be a cruel place,
especially for those who are naive. Research suggests you dont need to be
highly intelligent to succeed in business. You dont need a high IQ, rather you
need a high level of emotional intelligence (EQ). All this really means is that
you need to be able to listen to your instincts. I call this common sense.

BIG action step: Go to the library or your favourite book shop and
get a book on emotional intelligence. Read all you can on this topic.
It may turn out to be one of the smartest things youll ever do.

Rate yourself: 1 10: where are you?

19. Tenacity
The ability to never give up is another characteristic of the successful
entrepreneur. They keep on keeping on, even when things may seem
impossible. But understand that tenacity is not the same thing as stupidity.
Knowing when enough is enough doesnt mean you arent tenacious.

One of the important things to remember about business is that it often takes
time for momentum to kick in. This means that there is a period during which you
will be putting all the things in place as you build and grow your business, and
during this period, little will happen in terms of cash flow, turnover or a growth of
market share. But once everything is in place and the market knows, trusts, and
understands your business, it reaches critical mass and things start humming. It
takes a tenacious approach on the part of the entrepreneur to reach critical mass.

BIG action step: View business as a marathon, not a sprint.

Stick to it and keep going after your dream. What are you doing
to remind yourself of this? Do you review your business plans
on a regular basis? When last did you review your goals?

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 11

 20. Optimism
Entrepreneurs are by nature optimistic people. If they werent, they
wouldnt be in business. Always believing that tomorrow will be better
than today is the hallmark of an entrepreneur. And this is true for all
aspects of their lives. They tend to view business as a game, and their job
is to better yesterdays score. Entrepreneurs dont give up easily. They stick
with their business because they believe in it and its eventual aim.

Entrepreneurs also generally keep an optimistic view about the economy and
business environment. Have you ever noticed how some of them always seem to be
able to make a fortune in times of severe economic downturn? They know that there
is always money to be made regardless of the circumstances because the world must
go on, no matter what. People still need to eat, drink and go about their daily lives.

BIG action step: Establish a score board that ranks your performance.
This could be in terms of turnover, sales, market penetration or any other
measure that is meaningful and motivating for you and your business.

Rate yourself: 1 10: where are you?

21. Judgement
Being able to quickly and easily pass judgement on potential opportunities is
another hallmark of a successful entrepreneur. I say quickly because doing so
enables them to act quickly. It is one thing to decide an opportunity is a good one
but its another thing entirely to do something about it. You need therefore to trust
your own judgement. Successful entrepreneurs are able to achieve this because
they tend to be experts in their fields. This means they know their marketplace,
their markets and their products. This allows them to judge quickly and well.

BIG action step: When was the last time you had to make
an important business decision? What transpired?

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 12

 22. People skills
Building relationships is the key to business success and to achieve that you must
have good people skills. As the business owner, everyone will want to talk to
you. I want you now to just stop and think for a moment. How many people will
you come in contact with on your entrepreneurial journey? How many people
will be part of the success of your business? The answer is hundreds, perhaps
thousands, and if you dont have good people skills you wont establish great
relationships. Now having said this, not all entrepreneurs are great at building
rapport and they never will be. The fact is entrepreneurs are a different breed
and sometimes they find it hard to relate to people. However, those with great
people skills capitalise on it and thats what makes them so successful.

BIG action step: Businesses are built of people. I suggest if you

are not a great people person then its time you did something
about it. There are many organisations that can help you improve
in this regard, why not consider a course in public speaking?

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 13

 23. Communication skills
Communication is the lifeblood of business, its what facilitates business transactions.
If your target market doesnt know your business exists, how can you expect
them to do business with you? Similarly, you might have the best product in the
world at an unbelievable price, but if nobody knows about it, whats the point?

Communication in business is more than just letting people know about

you and your products or services. It is also an important part of selling.
True communication is a two-way process, which means it is a vital
tool for you to have in order to really understand your market.

BIG action step: Are you a good listener? Or do you have the gift of the
gab? When last did you let your team know what your goals and aspirations
are? When last did you share your vision with them? If they dont know
what your BIG picture is, how do you expect them to work towards it?

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 14

 24. Fun
Take a look around the entrepreneurial landscape, which entrepreneur
comes to mind as having fun in his or her business? Well, for me, Richard
Branson comes to mind he exhibits the essence of fun. His value in business
is fun! Even in negotiation and competition, he injects fun into the process.
Business does not have to be serious, lighten up and enjoy the journey.

Most entrepreneurs say they dont work, they just have fun. They
often say they have never worked a day in their lives. It is common
to hear them say they are enjoying what they are doing.

BIG action step: If you are not having fun, start to today.
Brain storm with yourself or your staff and create a list of
fun things to do in all areas of your business.

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 15

 25. Honesty
Honesty is a must and lets face it, in the big business world there hasnt
been too much of that going on lately. The recent financial crisis exposed
a lot of untruths, lies and deceit from various business leaders, however,
on saying that, most entrepreneurs do display integrity and honesty.

People recognise honesty and will reward you with their custom and
loyalty if they perceive you to be an honest entrepreneur. Its one of
the intangibles in business that many overlook, to their peril.

Successful entrepreneurs are also honest with themselves. They dont

take on projects they know they are poorly equipped to tackle. They also
listen to their instincts and know when to push harder, when to slacken
off, and when enough is enough. They also keep to their word.

BIG action step: Do you have an integrity and honesty policy in your
business? What would you do if you discovered a key team member
hadnt been doing the right thing? Do you reward honesty?

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 16

 26. Celebrate
It is important to celebrate your successes as you grow your business. This is
because of the tremendous benefits positive reinforcement has on us as humans.
Think about it for a moment. How do they train dogs to do tricks? They reward
them with something to eat when they have successfully done the trick, dont
they? And conversely, what do they do when the dog gets it wrong? Nothing.

Its important to celebrate all your achievements, no matter how small

and insignificant they may be. And that goes for the achievements of
your team too. Nothing is better for team building than this.

BIG action step: Set up a system to celebrate all your significant

milestones as you work your way towards entrepreneurial success.
Include your team, if you have one. Include, too, your family because that
will ensure they are with you as you progress towards your goals.

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 17

 27. Collaboration
Success in business is seldom a solo effort. There is invariably some
sort of team effort going on, whether it be in the form of staff or just
contractors, bookkeepers, suppliers or loyal customers. This is the reality
of life and it is especially so in the entrepreneurial fast-lane.

Most successful entrepreneurs are also excellent networkers. They are able to
promote themselves and their businesses and in this way, gather momentum real
fast. They say that this is also a most cost-effective and efficient way of growing their
businesses. Word of mouth is, after all, the most effective form of advertising there is.
If those you deal with believe in you and what you are doing, they will
support you. This is because everyone likes to be on the winning side.

BIG action step: Who is on your team? Who are you collaborating with in your
attempt to build a super business? Do you consider your suppliers to be team
members? I want you now to sit down and think about your extended team.
Do they deserve to be on your team? If not, who will you replace them with?

Mix with like-minded business people those who have similar

goals or ideas about business as you do. One of the most effective
and rewarding ways to do this is by joining the BIG Business
Membership web site www.thebigbusiness.com.au

Rate yourself: 1 10: where are you?

27 BIG characteristics that make Entrepreneurs unstoppable! 18