When you look at successful small business owners and entrepreneurs, there are several traits that are shared among the top. In this article, we have compiled a shortlist of 9 top traits of small business owners. These traits were selected because they are essential for profitability, growth, and development.
Starting up a small business is not easy. Be aware of the harsh realities of the business world. Some ideas may work while others may fail, but much of your success depends on your traits, strategies and how you respond to adversity.
Below are 9 traits of successful small businesses owners in 2019.
Starting or running a business can take an enormous amount of your time. If you do not have a passion for what you are doing, then you simply are not going to enjoy it and the results will show. Some of the best business owners have started their business solely on their passion or have incorporated certain aspects of what they are passionate about into the company.
Be innovative and come up with new ideas and products. No one in today’s world would think of trying a newly launched product when there are hundreds of substitutes already present in the market. Be creative and think of a new concept, something different and unique. You will attract an audience if you can come up with an idea or product that solves a problem or is unique and better than the others already available on the market.
Align with people who can help you in growing your businesses customer base. Look out for people or companies who are into the marketing of products complementary to yours. Take a look at their customer base and popularity among customers by researching their social engagement on sites like Facebook and Instagram. Here are 7 tools to track social engagement. This will help you in identifying if they are a good fit. LinkedIn is a perfect channel for building strategic relationships for business development and collaborations.
People think being enterprising is about starting a business, but it’s not. Enterprising is a characteristic or personality type. People who are enterprising are driven and ambitious as well as sociable and energetic. They take initiative and are proactive, not waiting for problems to arise but rather forecasting ahead of time and proving solutions.
Be conscious and aware of your business environment. Whenever you have an opportunity, do your due diligence and if it seems like a viable business decision, grab it – don’t wait. In the business world it’s all about first come first serve.
6. Socially Active
Be social, not only with the people around you but also think and be active on social platforms. Make your team a part of your plan for being socially active on various platforms if you’re in the B2C industry. Facebook and Instagram work best. If you’re in the B2B industry you’re going to want to start with LinkedIn. Being active on social media will help you build a brand with a loyal fan base. You can then engage potential customers to purchase your products or services.
Having an open mind is important in business. There will be times when colleagues or customers will have a difference in opinion. Your product might be accepted by some and rejected by others, but you should never be overconfident and egoistic regarding your product or service. Accept the criticism and the flaws and bring about the desired changes. Make your product better on the basis of the criticism faced. Not only be open minded about the criticisms that your product face but also try to keep up with the upcoming changes in the market and the economy to make your product better and modern.
8. A leader
When you are going to start a small business, no one is going to hold your hand and guide you on what to do and what not to do. You will have yourself to accomplish your goals yourself or with your team (if you have one). Possessing leadership qualities is a must in this business world and every small business needs a great leader.
9. Goal Oriented
Be focused and stay goal oriented while working on your projects. Have clarity about the goals that you want to reach the things that you want to do in order to reach those desired goals.
Lorenzo Gutierrez a certified Google internet marketing consultant. He considers his clients partners and invests his time and resources into their business to help turn it around and drive profitability. You can find out more about his digital marketing packages here. Lorenzo likes keeping up with the news and learning new marketing techniques from his favourite industry podcasts and blogs.