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Do You Have What it Takes to Run a Business?
People are different, that’s what makes economy and the business market so great and vast. However with this fact comes the unobtrusive reality that not everyone has the essential skills to run a successful business. Of course anyone can learn how to be a better business owner but foundational skills and know-how still need to be present.
Step in front of the mirror and take a long clear look at yourself. Evaluate your skill set and know your strengths (as well as your weaknesses). Don’t jump in the pool if you don’t know how to swim. You’ll need to know the risks before you devote time and money to your business.
Here is a list of what I think are absolutely necessary skills & traits to have before starting a business.
1. Self Confidence
If you don’t have faith in yourself then why should your customers? Be up-front and dedicated to your decisions. Don’t be afraid to take risks. Believe in yourself.
2. Honesty
Scam artists and liars are looked down upon. If you want a successful business, you’re going to need a great reputation (unless of course your business is built upon the opposite, depending on your business plan). Your customers will appreciate the fact that you aren’t hiding anything in the small print.
3. Knowledge
A good head on your shoulders can take you a long way. The CEO’s of all the big companies and start-ups are highly intelligent and for the obvious reason of course. Take the time to study, read and learn the in’s and out’s of your business. Don’t be afraid to ask yourself: what if? Knowledge is power.
4. Organization
Sloppy just doesn’t cut it, especially if you want to seem professional to your customers, associates and business acquaintances.
5. Creativity
I’ve said this through-out most of my articles. Be creative. Repeating and rinsing out something someone else has done a number of times is boring and dull. Bring in business by being the first, not the middle of the pack.
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(On Aug 5th, 2007 at 11:44 pm)
I think #2 two is both the most important and the most overlooked in this list!
(On Aug 5th, 2007 at 12:30 pm)
Along with #1: Passion. Running a business takes a lot of energy and you might find yourself wondering why you’re doing it. If the answer is “for the money”, then when things get bad, you’re interest will wane.
Along with #2: Trust. Honesty is hard to measure. So is trust. People want to purchase from people they trust. Give customers lots of reasons to trust you.
Along with #3: Support. Seldom is a successful business a result of one person doing something. Create a team (even if it’s virtual).
Along with #4: A plan. Organization is good, but you need to have a strategic plan to help you figure out where you’re going with your business.
Along with #5: Innovation. You don’t need to create something brand new. A twist on a familiar idea may be much easier to sell rather than educating people why your new thing is a much better paradigm.
(On Aug 5th, 2007 at 1:14 pm)
@Jay
Awesome post. Agreed with all your points there, really though provoking! Thank you for that contribution.