Top 30 qualities of Australia’s most successful founders

Having worked with, written for and interviewed some of the most successful founders in Australia, the question I get asked the most is:

What do they all have in common?

It’s a question I explore in my latest book, Secrets of the New Online Entrepreneurs.

I don’t believe there is a single trait that guarantees success, but I do believe success leaves clues.

Among the entrepreneurs I’ve met, I see the same qualities surface again and again. Not in everyone, not in the same order, and not in equal measure. But when enough of these traits show up in one person, and they are harnessed correctly, they act like personal multipliers. They amplify effort, compensate for blind spots and create momentum others struggle to generate.

What follows is a summary of those qualities.

The most successful entrepreneurs are:

  1. intensely competitive: they hate losing, to others and to the standard they set for themselves
  2. single-minded: they don’t get distracted and are committed to completion
  3. tenacious: they don’t let go until the problem or situation is fixed
  4. big-picture thinkers: they aim far beyond what most people do
  5. relentlessly positive: they never say die, even when the odds are stacked against them
  6. self-aware: they know their blind spots and actively work to address them
  7. purpose-driven: they’re motivated by something bigger than money or ego
  8. persistent: they keep asking until they get the answer they’re looking for
  9. creatively astute: they see connections others miss
  10. radically self-believing: they back themselves, even when no one else does
  11. team builders: they put the company and team ahead of their own needs
  12. thick-skinned: they don’t take rejection or humiliation personally
  13. great at sales: they ask for the order and are unafraid to do so
  14. receptive to feedback: they seek it, apply it and don’t hesitate to give it to others too
  15. punctual: they arrive early, and secure the best seat at the table that gives them the upper hand in negotiations
  16. risk takers: they establish the worst that can happen and work from there
  17. hedge their bets: they have multiple plays in action so if one stalls or falls, they have optionality
  18. committed: they are willing to sacrifice health, leisure (and sometimes relationships) for the wider mission
  19. disciplined: they keep fit, physically and emotionally, and take mindfulness seriously
  20. motivated by progress: they see money as a scorecard, not just the end goal
  21. emotionally resilient: they engage in the tough conversations that bring out the best in their team
  22. generous with contacts: they are often happy to help others who have the gumption to ask for it
  23. across the details: they know their numbers, the metrics and the minutiae that matters
  24. frugal: they don’t spend on things that don’t add to the bottom line
  25. high-energy: they work longer and harder than many would imagine
  26. patient: they know a business takes at least 10 years to gain traction
  27. stoic: they don’t let the team see how badly the stress is affecting them
  28. well-informed: they read, listen, network and stay across every shift in their industry
  29. coachable: they seek out coaching to build connections, test assumptions and gain feedback
  30. flexible: they are willing to change their minds if new insights emerge

No founder possesses every one of these qualities. But the founders who consistently build enduring businesses possess more of them than most. The encouraging news? Many of these traits can be learned, strengthened and practised over time.

Secrets of the New Online Entrepreneurs is available now through all major bookstores and online retailers.