So what does it take to start and manage a successful business? I believe all successful small business owners have these three basic characteristics:
Ambition: You think bigger than your current condition. You are not bound by your circumstances. This must be combined with a clear sense of motivation. Those with ambition only have a vision that never materializes.
Confidence: You have to believe in yourself. More importantly, you have to believe that the product or service you offer has real value. I’m not even sure how you can sell without confidence.
Motivation: You have a mission or personal agenda and a desire to accomplish them. If not combined with ambition, you will work towards everything without direction.
Notice that I did not include hard-working. Someone who is both highly motivated and very ambitious cannot help but also be hard-working.
I also did not include intelligent. Many very intelligent people fail at running a business. Of course, you can’t be all out stupid either.
If you are thinking of starting a business, work on developing the traits above. If you lack ambition, identify your true mission in life. What gets your excited.
If you lack confidence, improve on yourself and build knowledge. Take classes, read, join Toastmasters, seek out a mentor or advisor.
If you lack motivation, establish goals consistent with your beliefs and desires. It is hard to be motivated to do something you don’t believe in.
Having these characteristics does not guarantee success, but it does help to get you on the right track for success.
What other characteristics and traits are important for success in business?