There are certain qualities, or traits, that you tend to find in successful small business owners. They don’t guarantee success, but if these describe you, or you can improve yourself in these areas then your business can only benefit as a result.
Successful small business owners are:-
- Driven – you can’t sit back and wait for it to work, you have to want your business to grow and be determined to get there.
- Passionate – it’s really hard to be driven and motivated if you don’t care too much for your product or customers. If you are passionate about your business it drives you to succeed.
- Self-Reliant – small businesses owners are not in business alone, but they do tend to be able to confidently act without having to ask everyone else. They still have a team, and specialists to consult, but are strong at thinking for themselves.
- Modest – a certain sense of humbleness is very common among successful small business entrepreneurs. They appreciate the position they are in, and the power of decision they have but keep their feet on the ground. They are also not afraid to ask for help when needed.
- Financially Wise – this works two way. They not only look after their finances and stay on top of everything, but successful business owners are also not afraid to spend money where it makes sense. They don’t get cheap on services where it really counts – marketing, web design, accounting software etc.
- Resilient – you’re going to hit problems and you’re going to have setbacks. This happens in every business (and every job for that matter!). The key is having the strength to get up again, learn from what went wrong and move forward again.
- Open Minded – listening is such an important skill. Gathering all the information and data before making a decision. And being open to ideas that someone else brought to the table – even if that means backing down from your own idea for one that is actually better!
So there you go. If you have these traits already then you’re already more likely to succeed with a small business. If you can’t identify with many of these then starting a business may not be for you – or at least, not until you can work on these areas to improve yourself first. Then your chances of being successful with a small business will be significantly higher.