What Makes a Good Entrepreneur?

IMG_0801Many people dream of becoming prosperous business owners; however, achieving that goal is challenging and requires hard work. Some people never take the initiative to try to make it happen — possibly due to fear and/or lack of ambition. Granted, some people seem to be born with the talent for becoming successful business owners. Others may attempt entrepreneurship without really understanding what makes good business sense.

So, how can you determine whether you have what it takes to become a successful business owner? The following are some characteristics that will go a long way to improving your chance of success.

  • Stay Flexible: As a business owner, you can’t always predict what a customer will want or how your day will go. Staying flexible will help you keep calm in situations where a customer or employee has special needs and requests.
  • Build Relationships. Try to get to know each and every customer, especially as you are building your business. This may become challenging if you grow into a successful business and have a significant number of customers, but you should still try to connect with every one of them. Your early customers are critical to your growth; they will refer friends and family members to you, often saying, “Hey, go down to such-and-such place and tell them I sent you.”
  • Don’t Be Narcissistic. If you want to build a business, you will find that simply being likable is a great asset. Don’t treat people as if they are beneath you. Don’t make everything about you — consider your customers and employees, too.
  • Learn to Market Yourself. Personal relationships and word of mouth are effective ways to build your business. You also need to market your business by other means such as Internet directories, your website, local newspapers and publications, and getting out in the community. This will enable you to contact new customers in a wider area and at a faster rate than simply relying on your existing customer base to send you new business.
  • Build a Business You Like. Yes, it is helpful to like what you do, but the bigger question is can you sell what you like? Will consumers want or need to buy what you are offering? As a potential entrepreneur, make sure your business is one that is in demand and that consumers will seek out.

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