It’s easy to think that anyone with a big idea and a bit of financial backing has what it takes to start up their own business and while it’s certainly a solid foundation upon which to build, there are a number of other factors that are worth considering. This is not to say that there is a default blueprint which applies to every entrepreneur; but it is food for thought nonetheless as to what a budding businessman should perhaps strive to achieve.
Self-motivated: Particularly in the early days, a small business owner must take on the brunt of the leg work. You should always be prepared to give blood, sweat and tears in search of success and be able to not only work independently without becoming overwhelmed, but also be willing to ask for help where needed and delegate responsibility.
Realistic: Any business must always operate within its own means and this is no more important than with a newly launched small business. Money is what will keep things moving but it should never be the primary motivation in your undertakings, as overnight, global successes only happen once in a blue moon. Keep in mind that fame and fortune are not the be all and end all and thrive instead on the satisfaction of your own achievements and you will likely go much further.
Focussed: Small businesses have to strike the correct balance between functioning in the moment and planning for the future. Clear goals should always be outlined in detail and more importantly, so should the steps required to get there.
Tech-savvy: Success in business these days so often depends heavily on the ability to stay on the cutting-edge of new technological advancements. From machinery to social media platforms and everything in between, knowing what works for your competitors and embracing the best of what is hot on the market will serve you well.
Positive: It’s more or less a rite of passage that a business must face difficult times on its pathway to success. It’s important that you plan to take knocks, have contingency plans in place for whenever they rear their ugly head, and don’t allow setbacks to diminish your passion or motivation. With so many statistics flying around about the imminent failure of small businesses, it’s no wonder a lot of people fear even trying, but it’s always worth keeping in mind that each business is unique and every market is different; it’s about being in it for the long haul.
Proactive: Without doubt one of the most important traits for a small business owner is to be proactive rather than reactive; looking for solutions in place of problems and growth instead of failure.
With these simple characteristics in mind, you could be well on your way to starting your very own thriving small business.