Not everyone can be an entrepreneur or a small business owner; some people just don’t have the characteristics or qualities necessary. If you study or talk to successful business builders, you’ll see many similar qualities among them. Without the majority of these qualities, success will be harder to achieve, if not impossible. Some characteristics you are born with and some you can learn, but desire alone is not enough.
Here are nine unique qualities that will serve you well in starting your small business:
- Ability to sell your ideas. You need to be able to get others to jump on the wagon to success and follow you because they believe in you and your pursuits.
- Ability to accept risks. Risk taking is a part of every entrepreneur’s life. But being able to recognize a manageable risk that will still offer above-average results is necessary.
- Persistence. You need that keep-going attitude when the process is difficult, tedious, and boring. You must be able to see the light at the end of the tunnel and not give up.
- Willingness to do what’s necessary. You must be willing to sacrifice your personal time and activities to complete business tasks. If you can’t afford to hire someone, you have to be willing to do it yourself.
- Ability to understand reports. You must be able to use a logical approach to analyze the profit or loss numbers in your business. You’ll have to read and use all financial information regularly. You should barely be able to wait to see your successes down on paper!
- Ability to learn from experience. You must be willing to admit that you don’t know everything and continually seek and absorb knowledge. You have to be open to new information wherever you find it. Realize that even failure is a learning experience.
- Ability to delegate and train. You can’t do everything yourself and be a big success. You must be able to educate
others and trust them to grow with the business.
- Strong curiosity. You must look for new ideas that will be useful and profitable in the marketplace. You should want to know everything that’s going on in your chosen field.
- Willingness to face facts. It’s important to know when it’s time to abandon a project and go in another direction.
Don’t throw money and resources at a losing venture. Instead, reorganize and try again.
Enhance the qualities you already have and pursue the ones you lack. If there are characteristics you just won’t ever possess, you can always partner with someone who does have those qualities. Either way, successful businesses are built by people, not products.