As I searched through the internet for the list of qualities a successful entrepreneur must have, I stumbled upon this interesting article on the 25 Common Characteristics of Successful Entrepreneurs by James Stephenson. I've decided to read through it and compare myself if I have those traits or not.
According to the article, there are 25 common characteristics that are shared by successful business entrepreneurs. I'll go through each characteristic mentioned in the article. These are:
1. Do what you enjoy
They say that if you enjoy your work or do something that you really enjoy, it won't feel like work. I think that stands true for being successful in business. Currently, I do enjoy what I'm doing but it's a corporate work. I think what I need to work on is finding something I do enjoy doing and turn it into a business.
2. Take what you do seriously
There is a term that we call work – life balance. So in creating a business, it shouldn't just be all about having fun. One should also stay focus and motivated in making the business work. I think I pretty much have focused and motivated attitude when it comes to doing work. I believe that in everything I do, I should do it with the best of my capabilities.
3. Plan Everything
Being organized I think is a skill. It takes a certain discipline and focus to stay organized Business planning reminds you what your goals are and therefore makes you focus on what you want to achieve. Honestly, I still have to work on this. Sometimes, I get lost in the moment that I forget what I want to achieve in life.
4. Manage money wisely
Managing money wisely is very important in owning a business. You would need to always be on top of this in order to know whether you are losing money, gaining profits, or breaking even. I think I pretty much manage my money wisely nowadays. I know what expenses are coming in and I try to save up what is left. However, I think I still need to learn more and improve.
5. Ask for the sale
Entrepreneurs are effective salesperson. I think by experience, being good in selling takes a certain skill and talent. And honestly, I'm no effective salesperson. I have this attitude that if you don't want to buy it, then don't. I have a lot to learn on being an effective salesperson. This is one of the weakness I have.
6. Remember it's all about the customer
A business won't be successful without its customers. Customers determine whether a business will click or not. So I agree that a business should be all about the customer. One should know their target market inside out. I may not have my own business right now but most of work entails facing or dealing with customers, whether internally or externally. In my life of work, I have a sense of who are my customers are and what are their needs. One my strengths is knowing how to deal with them.
7. Become a shameless self-promoter (without becoming obnoxious)
Self-promotion is one of the most beneficial, yet most underutilized, marketing tools. I think talks about being confident in yourself and in your business. I think I have to gain more experience to be able to be fully confident in my abilities and start my own business.
8. Project a positive business image
I'm pretty much an adaptable person and this should rub off if I will have my own business. I should go out of my way to let my potential clients have an impression that I will do any business with them professionally.
9. Get to know your customers
I think this is similar to number 6 which is remembering that it's all about the customers. As I've mentioned, I think I'm adaptable to my customers and I can learn quickly from them.
10. Level the playing field with technology
Use technology to your advantage. I can confidently say that I have a pretty good grasp of technology and I can use this to my advantage when I eventually open my own business.
11. Build a top-notch business team
I don't have the experience for this to say I can build a top-notch business team. But what I can say is that I work well with a team and I can manage well a team, which can be useful knowledge and experience.
12. Become known as an expert
Becoming a known expert is a very difficult task to do. You would have to be knowledgeable in whatever business and industry you are working in. Since I'm just working for about 5 years now, I still have a lot of things to learn. There is so much more I have to experience and learn to be able to say that I'm an expert.
13. Create a competitive advantage
In any business you would need to create a competitive advantage that will distinguish your company from the rest. I think with the right set of information and skills, I can create a USP once I decide which type of business to run.
14. Invest in yourself
There are so much more trainings, learning sessions, and experience I have to do. I would need to invest in myself and continue to expand my knowledge which can eventually be used once I start my own business.
15. Be accessible
This is connected with number 6 which is remembering that it's all about the customers. I would need to be easily accessible to my clients whenever and wherever they need me. By providing then with good service and easy accessibility, hopefully they would value this and create more business opportunities for me.
16. Build a rock-solid reputation
Gaining the trust of your clients is a hard thing to do. Yet when you do, this would mean steady business and possible expansion. Like I've said, I'm pretty much good in dealing with people which I can use to my advantage when building my future business' reputation with them.
17. Sell benefits
Always keep in mind that your potential customers are concerned on "what they can get" from your product/service. As I've mentioned, I still have a long way to improve my skills in selling.
18. Get involved
I would need to get out more and be proactive in creating relationships with organizing community events such as helping in local charity events. Right now I admit I lack this experience and connections.
19. Grab attention
This characteristic pertains to making sure that in every promotional strategy you use, you can use this to attract potential clients and grow your business.
20. Master the art of negotiations
The ability of negotiation is a skill that is very crucial for every business owner. Negotiations are used in dealing with your suppliers, potential investors, clients, etc. I have to admit I don't have enough experience yet to say that I'm an expert on this.
21. Design your workspace for success
I agree that when you work in a nice workspace, it affects your productivity. That is why I make sure that my workspace is clean and organized as much as possible.
22. Get and stay organized
So far I can say that I'm trying to stay organized when it comes to my work and personal life. I have a planner which takes note of the tasks I'm supposed to do so I can manage my time wisely.
23. Take time off
I highly agree that life is not all about working around the clock. So as much as I can, I plan my vacations in order to take a break, feel refreshed, and ready to start work again.
24. Limit the number of hats you wear
They say that you should know what you do best and concentrate on it instead of juggling a lot of tasks/things. I agree with this although in my case, I have to improve on this because as much as possible I try to do a lot of tasks. I'm continually improving on this trait of mine.
25. Follow-up constantly
Following up constantly is a weakness of mine. Sometimes when I start on something, I tend to forget to constantly follow through. I would need to be more consistent with this in the future.(Hi Belinda, what is the analysis; what is the conclusion? Thanks. JuS
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