Be Your Own Boss: 5 Traits Needed for Small Business Owners

small business owners

~by Lizzie Weakley~

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small business ownersSince the advent of the Internet, there are now more possibilities for innovative entrepreneurs than ever before. With the click of a mouse, customers are now able to shop for the products and services they need, and you can take advantage of worldwide customer base when you take full advantage of the various tools available. Whether you have long been operating your own business or you’re ready to get your feet wet, there are five traits you should analyze in yourself to understand your ability to succeed.

1. Higher Education

When we think of small business owners and entrepreneurs, we often think of someone who happened to have a great idea and made the most of it. However, it takes much more than that, and having a strong background in business is important. That’s why higher education can help you achieve. Best of all, it can be easy to incorporate into your busy schedule as there are many reputable online MBA programs with flexible schedules.

2. Confidence is Key

There’s more competition out there than ever before, and in order to make customers believe in what you have to offer, you must first believe in it yourself. Confidence helps you maintain this perspective of your product or service, and it also helps you take on new challenges in stride.

small business owners3. Ability to Accept Failure

What doesn’t kill you makes you stronger, and you’re destined to make mistakes along the path of business ownership. A successful business owner can’t be afraid to make mistakes.

4. Passion

If you don’t have passion in what you do, it can prove devastating to your business. After all, there will be times when you have to dedicate long periods of time to your business. If your heart isn’t in it, it’s time to modify your business plan to better intrigue you.

5. Money Management

As a business owner, you want to make money. Having good money management skills is crucial to help you more easily achieve your goals and expand in the future.

A Career You Can Count On

With so many opportunities out there for entrepreneurs, it can be easy to get ahead of yourself. As a small business owner, you only have yourself to answer to, and it’s crucial that you’re able to make the best decisions to ensure the long-term health of your operation. By being aware of these five important traits, you can be on your way to developing a career you can count on far into the future.


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Lizzie WeakleyMeet the Author: Lizzie Weakley

Lizzie is a freelance writer from Columbus, Ohio. She went to college at The Ohio State University where she studied communications. In her free time, she enjoys the outdoors and long walks in the park with her 3-year-old husky, Snowball.


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