It should not come as a surprise that successful entrepreneurs share common traits and characteristics that set them apart in the world of business. These key characteristics are common across the board, regardless of gender, race or creed. Having an awareness of these key traits means that those wishing to start up their own successful business can begin their venture better prepared, so if that’s you, do check off the following five traits against your own individual habits and attributes. Who knows? This could make all the difference.
1. Enjoyment and belief in the product/service
Unless you have a real passion or enjoyment for the product or service that you are creating and/or facilitating, your idea and business venture will not get off the ground. We are all very good at leaving the jobs we dislike until last, so making sure that you like what you are doing is very important. Richard Branson had a passion for music when he started selling records from his parents’ house, and that passion, energy and belief have all helped get him to where he is today.
2. Money management and sales know-how
Unless you are able to properly organise your finances, chances are your business will fail before it even begins. Getting the right support and advice from accountants, tax agents and banks is really important. Not being afraid to negotiate and the ability to close a sale is also a key part of the money management and marketing skills that will turn you into a successful entrepreneur.
3. Organisational and planning skills
Knowing how to truly make the most of your time and effectively using the resources that you have available are crucial keys to success. This means planning ahead and knowing where you want to be in 3-5 years’ time, and, equally important, having a strategy for getting there. Spotting potential hazards as well as potential opportunities with the use of new and developing technologies are also included in this key trait.
The ability and motivation to seek out opportunities to promote your business, product and services are paramount, and knowing when and where to do this is also important. Remembering to sell the features, functions and benefits of your business at opportune moments so that you become known as the “expert” in your field is an especially handy trait, particularly in this digital age of social media. And of course, in order to do this effectively, you have to know your market and audience, which every successful entrepreneur does.
5. Customer focussed
Keeping their ear to the ground, addressing the needs of their customers and anticipating their customers’ requirements are some of the factors that keep successful entrepreneurs ahead of the game. It also maintains a close affinity between the individual and the business, resulting in the latter becoming a brand or service that people will trust.