Running a small business takes a lot of hard work, and a great deal of that hard work is solely on the shoulders of you, the owner. There are so many entrepreneurs who have amazing ideas, but their companies fail simply because they are not good business owners. However, it is possible for most small business owners to get better at what they do if they are able to develop some common traits of capable business people.
What traits do many capable small business owners have in common?
Most small business owners will sink without a trace if they are not brave. In business, you quite often have to take huge leaps of faith, and if you hold back, you will miss the jump and end up with nothing. Sure, there’s nothing wrong with being cautious and doing your due diligence, but you need to be willing to make decisions with confidence and go with them even if there’s a chance you’ll fail – if you don’t, your business may well stagnate.
When you’re the owner of a small business, you don’t have a boss breathing down your neck telling you what to do, which can be pretty liberating, but it can also mean that you don’t do as much as you should when you should. So, in order to be a success in business, you need to develop the trait of self-motivation ( There are courses like this one at Udemy which can help with that). You need to be able to say no to procrastination, work out what needs to be done and actually do it.
When you run a small business, you’ll probably have to deal with your customers and clients on a regular basis, and although a good customer service course from the likes of Training Connection will help you a lot with that, something else that you’ll need to develop is a sense of authenticity. Why? Because most people can recognise when they’re being hoodwinked and they really don’t like it. If you are open and honest, you build more trust, make more customers happy, and ultimately make more sales.
If you are running a business that you don’t really have much interest in just so that you can make and quick buck, then you might be successful, but you probably wont, All of the most successful business people like Elon Musk and Steve Jobs have lived and breathed what they do and that extra thought, effort and interest they have put in has helped to make their products, and their businesses much more successful than they would otherwise have been.
Being the kind of person who does not mind collaborating with others, listening to what they have to say and handing off responsibility to others will serve you well as a small business owner because no matter how talented you are, you’ll struggle to handle everything from product development and marketing to meeting with clients and doing the books all by yourself. So having trust in others is pretty essential.
Any business owner can be successful if they have a good idea, a head for business, and these traits, so if you don’t possess them already, work on developing them, and they will serve you well.
*This is a contributed post