The life of an entrepreneur is never an easy one. Running a small business is a very difficult venture, and it takes a special kind of person to bring it to success.
Here are seven of the most useful attributes for small business owners that want to see results.
Traits of a Successful Business Owner
Have thick skin.
Forbes stresses the importance of having “rhino-thick” skin in the business world. Inevitably, you will be rejected and put down a handful of times—it happens in every eventual success story. Walt Disney was supposedly told by the editor of the Kansas City Star that he had no talent and that he lacked imagination. Michael Jordan didn’t make the varsity squad of his high school team until he was an upperclassman.
The most successful people have gone through a multitude of failures before figuring out how to excel. It may be a cliché, but the old shibboleth that stresses the importance of seeing failure as a learning experience is still very valid.
Investing your money and, more crucially, your time into learning how to capitalize on the omnipresence that technology has grasped in the business world is quite important.
Regardless of what it is your business provides or produces, knowing how to market and network through social media, conducting finances/banking online, using state-of-the-art communication technology for interviews, and more is a must in today’s economy.
Find the best talent.
Your business, most likely, won’t be able to survive without some help. It is essential that you choose your co-workers and staff wisely. Seeking top talent will get you top results. Your company is only as strong as its weakest link.
Do not be a Jack-of-all-trades.
Do not try to do it all in your business. Just as it is important to hire the right people, it is important to let them handle all of the tasks that you hired them for. Many small business owners have a hard time cutting back their job to a simple administrative role, but if it is to succeed, your enterprise needs a full-time administrator.
Promote yourself—but don’t overdo it.
Nobody will do business with you if they do not know you exist, of course. Marketing is crucial. However, there is such a thing as the perfect amount of self-promotion.
Make sure that people see your name, but don’t make them see it so much that it becomes overbearing. The last thing that you want is a reputation as obnoxious.
From customers to business partners, everybody likes to do business with somebody who shows their commitment to them through accessibility and flexibility of their schedule. Being a convenience to others is a good practice.
It is a forgotten courtesy in the business world. It shows great etiquette, though, to follow up with business partners and customers after transactions.
Thanking them for their patronage and making sure that everything is as it should be is a gesture that will take your business a long way. It is important to consider your reputation even after the business has been done.
Are you a business owner looking to make your company more successful? Consider invoice factoring.
Factoring allows your company to have the cash flow to expand operations, hire new workers or take on new projects.
Interested in what invoice factoring can do for you? Give us a call or fill out this free online form.