As the world strains to see the future, the new year can look like an abyss. Some people look back over their shoulder and, seeing the known ground they have crossed, long to return to the safety of the past. Time, however, pushes everyone into the future. A person’s attitude can make a big difference as they confront the unknown. Thomas Jefferson, the third president of the United States, once said, “I like the dreams of the future better than the history of the past.” The world needs dreamers — wide awake dreamers. The late Thomas Edward Lawrence, a British Army officer, archaeologist, diplomat, and writer — better known as Lawrence of Arabia — once wrote, “All men dream, but not equally. Those who dream by night in the dusty recesses of their minds, wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act on their dreams with open eyes, to make them possible.”

I’m not sure I would label “dreamers of the day” dangerous. Visionaries might be a better description of the men and women who see a better future and do their best to make it a reality. Visionaries don’t see an abyss when they peer into the future, they see possibilities. Many visionaries become entrepreneurs and strive to improve the world in which they live. Entrepreneurs Lewis Schiff and Norm Brodsky write, “Business can absolutely be a force for good.”[1] To bolster their argument, they point to the remarkable reduction in poverty that has taken place since the beginning of the Industrial Revolution. They write, “According to Johan Norberg’s book Progress, 94 percent of the world was living in extreme poverty in 1820. By 1950, the number was 72 percent; by 2015, it was 9.6 percent. That’s a decline of nearly 90 percent. While other factors may be at play, capitalism has certainly helped.” Attributing much of this decline in poverty to the efforts of entrepreneurs, Schiff and Brodsky searched for traits that help make entrepreneurs successful. They came up with four traits:

1. They keep the endgame in mind. According to Schiff and Brodsky, “The most successful entrepreneurs spend more time understanding the power of the capital markets than other, less successful entrepreneurs. Private equity, corporate mergers and acquisitions departments, venture capital, and debt providers: These are the main sources of investment in America’s growing businesses. A lot of entrepreneurs think they only need to pay attention to the ‘money people’ when they get an offer for their companies. Not so. The entrepreneurs who had the most success scaling — and eventually exiting — their businesses were the ones who became students of the capital markets, understanding what’s important to them and the trends in that sector.”

2. They’re willing to change. “The most successful entrepreneurs,” write Schiff and Brodsky, “are the ones who undertake some form of ‘financial model transformation’ while they run their businesses. … Extremely successful entrepreneurs evolve their financial models as technology evolves to create a more efficient, more valuable business.” The example they provide is a brick-and-mortar retailer who transformed into a successful online retailer.

3. They make themselves redundant. The most successful entrepreneurs understand success is a team effort. Schiff and Brodsky explain, “[The most successful entrepreneurs] remove themselves from the sales process of their companies. While it’s true that many entrepreneurs are also great salespeople, it’s also true that being your company’s best salesperson naturally puts a cap on the business’s revenue potential as well as its enterprise value.”

4. They know how to ruthlessly prioritize. Schiff and Brodsky conclude, “Finally, creating a genuinely scalable management team-building process was the last vital activity of extremely successful entrepreneurs. … The best entrepreneurs make sure that everyone on their team is judged not by their loyalty but by their ability to perform. Essential to that is making sure everyone is in the right role.”

There is one other trait I believe all successful entrepreneurs share: curiosity. It is curiosity that motivates entrepreneurs to seek new opportunities, take different directions, and see new ways to accomplish things. Rieva Lesonsky, former CEO of GrowBiz Media, observes, “Curiosity can be the spark that drives us to ask questions that challenge the status quo. When we hear the word ‘curiosity,’ our next thought is usually ‘killed the cat,’ which makes curiosity something to be afraid of. Instead, Michael Gerber, author of the iconic book The E-Myth, says, ‘Entrepreneurship requires an unvanquished spirit of curiosity.’ I agree with Gerber and have always considered curiosity an essential trait of entrepreneurship.”[2]

During an interview Lesonsky had with Tate Hackert, president and co-founder of ZayZoon, he stated, “Curiosity is everything. Curiosity is the driver behind good conversation, uncovering problems, and having a growth mindset. All three of those qualities are vital to entrepreneurship. Combining curiosity with action is a potent mixture that leads to success. My career has been built on those three qualities.” Curiosity makes innovative people constantly ask “why” and “what if” questions. The late Albert Einstein believed curiosity was one of humanity’s best traits. He once wrote, “The important thing is to not stop questioning. Curiosity has its own reason for existence. One cannot help but be in awe when he contemplates the mysteries of eternity, of life, of the marvelous structure of reality. It is enough if one tries merely to comprehend a little of this mystery each day.”[3]

Another man who believed curiosity was essential for the advancement of humankind was Dr. Abraham Flexner, first director of Princeton’s Institute for Advanced Studies. Although largely unknown today, when Flexner died in 1959, his obituary was published on the front page of the New York Times. Flexner once wrote, “Curiosity, which may or may not eventuate in something useful, is probably the outstanding characteristic of modern thinking. It is not new. It goes back to Galileo, Bacon, and to Sir Isaac Newton, and it must be absolutely unhampered.”[4]

As you stare into the abyss of the new year, do so with a sense of curiosity and wonder. The Greek philosopher Socrates once stated, “Wonder is the beginning of wisdom.” The late Leonard Nimoy, who famously played Dr. Spock in the television series Star Trek, once observed that heading into the unknown is a great adventure. He said, “That is the exploration that awaits you! Not mapping stars and studying nebula, but charting the unknown possibilities of existence.” Have a happy and safe New Year’s celebration and stride into the future with a sense of purpose and curiosity.

Footnotes
[1] Lewis Schiff and Norm Brodsky, “4 Traits of Extremely Successful Entrepreneurs,” Inc., 6 June 2023.
[2] Rieva Lesonsky, “What Is The Value Of Curiosity For Entrepreneurs?” Forbes, 27 February 2024.
[3] Albert Einstein, “Old Man’s Advice to Youth: ‘Never Lose a Holy Curiosity.’” Life, 2 May 1955.
[4] Abraham Flexner, “The Usefulness of Useless Knowledge,” Harper’s Magazine, June/November 1939.