The Truth About Ultra Successful Entrepreneurs

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To say ultra-successful people are intelligent, creative, hardworking, passionate and risk-takers warrants a big “duh” from anyone reading this blog post. Too often I’ve read publications that detail the same adjectives that were just listed as reasons entrepreneurs reach the pinnacle of success. Looking past the obvious; I started to really analyze why and how some entrepreneurs are able to become ultra successful while others not so much. This is what I came up with.

Built Relationships to Elevate Their Business or Network (Big Break)

These entrepreneurs came into contact with someone who changed their lives, which amplified their business and opportunities or possibly altered their thinking in some way. One example of this is when Chris Gardner met a stock broker on the street who happened to be parking his Ferrari. The stock broker met with Chris, explained the business and what was required to become a broker. Another example is how a young Ted Turner was able to diversify his father’s thriving billboard business by acquiring radio stations before expanding into television. And the list goes on…Merv Griffin, Donald Trump, Don Peebles, Rupert Murdoch and countless others. They all had some “plug,” so to speak.

Talented Team

Not to take anything away from their triumphs, but these entrepreneurs didn’t build these conglomerates on their own. For every Warren Buffett there is probably a Charlie Munger or Steve Wozniak for Steve Jobs. These ultra successful entrepreneurs’ executive teams are very talented, relentless (maybe even just as talented and relentless as the entrepreneur) and can perform to the expectations of the head honcho.

Decisive & Stubborn

The ultra successful don’t allow people to change their mind about pursuing their goals. The whole “that goal is impossible” or “that’s crazy you can’t do that” doesn’t faze them one bit. They stay true to their plan and never allow anyone to deter them. Once a decision has been made, they seldom waiver. People told Richard Branson that he should not and could not win in the airline business, but Virgin Atlantic Airways continues after nearly 30 years.

Strategic yet Pragmatic Approach (Visionary)

Yes, these entrepreneurs have excellent strategies for their business. Although they are intelligent, they are also able to take a practical approach in figuring out a way to realize their dreams. Ideas are cheap, but these people created a plan and figured out the means needed to make it happen. They were able to acknowledge what resources they had and utilize them fully, such as human capital, monetary resources or expertise others don’t have. Sean Combs was able to take the personal trait of a big personality and become a successful showman/salesman over a wide variety of industries.

Ability to Recover from Failure

We forget sometimes that successful people fail. As if every venture is guaranteed to turn to gold. The stars don’t always align for them and everything doesn’t just go smoothly. The major difference between the average and the great is the ability to recover when all hell breaks loose. In Reginald Lewis’ pursuit to acquire large companies, it took him a couple of botched attempts before his first major deal.

If you don’t have these added bonuses I’ve detailed, don’t fret. If you’re diligent, avid and innovative, that is half the battle. Be strategic, make a powerful team and if you don’t have power players in your circle; network to get them and you will be well on your way.

What are some other characteristics of ultra successful entrepreneurs?