I found an article from James Stephenson entitled “25 Common Characteristics of Successful Entrepreneurs”. There he discussed the traits that help business owners thrive.
Yes, there are great numbers of common characteristics that are shared by successful businessperson. I decided to check the list one by one and reflect on it.
According to James Stephenson there are certain musts that are required to be successful in a chosen activity. To legally operate a vehicle on a public roadways, one must have a driver’s license; to excel in sports, one must train and practice; to retire comfortably, one must become an informed investor and actively invest for retirement. If the goal is to be successful in business, then the formula is no different. There are certain must that needs to be developed, implemented and managed for one business to be succeed.
As of now, I do not owe any business. I am currently employed at Panasonic and focusing on my study, which I believe would help gain knowledge and skills to pursue my dream to become an entrepreneur soon. On the side, I am also helping out a friend with his business and together I believe we both learn a lot from this experience.
Here are some of the important musts that are required to start, operate and grow profitable business
1. Do what you enjoy.
If a person don’t enjoy what he or she is doing, it’s safe to assume that will be reflected in the success of the business. In fact, if you don’t enjoy what you’re doing, chances are you won’t succeed. I am afraid to jump into business that I don’t enjoy doing. Money shouldn’t be the first priority, although it is important. Business has its own seasons and if you don’t love what you are doing or if you don’t have passion on it, you will not succeed during tough seasons.
2. Take what you do seriously.
You cannot expect to be effective and successful in business unless you truly believe in your business and in the goods and services that you sell. As mentioned earlier, I am helping out a friend from his business and even though it’s a small business I am the number one fan because I know we deliver great service and we are confident on our differentiation towards competitors.
3. Plan everything.
Planning every aspect of business is not only a must, but also builds habits that every business owner should develop, implement, and maintain. The act of business planning is so important because it requires you to analyse each business situation, research and compile data and make conclusions based on the facts as revealed through research. I am very organize person but I believe I still have a lot to improve on this. I believe theories and research is very important for a business to succeed. That is also the reason why I am investing on study to learn more from business owners.
4. Manage money wisely.
The lifeblood of any business enterprise is cash flow. You need it to buy inventory, pay for services, promote and market your business, repair and replace tools and equipment, and pay yourself so that you can continue to work. Therefore, I must learn to be wise in managing money to ensure that the cash keeps flowing and bills get paid.
5. Ask for the sale.
A business entrepreneur must always remember that marketing, advertising or promotional activities are completely worthless, regardless of how clever, expensive or perfectly targeted they are, unless one simple thing is accomplished – ask for the sale. Yes, I agree on James that is why I do encourage my friend that annually we have to join exhibitions where we could target and get confirmed sales. We are also active in creating a promotional activity where we can attract more customers.
6. Remember it’s all about the customer.
Business is not about the products or services that you sell. Your business is not about the prices that you charge for your goods and services. Your business is not about the competition and how to beat them. Business is all about customers. Everything you do in business must be customer focused. The ultimate goal is to create customer satisfaction. It is important that I make my customer happy with our services. If they are happy they will continuously go back to us and even refer us to their family and friends. <Ray Anne what do you say about yourself and the above?>
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