There is no perfect skill set for a successful business owner and the 'cookie cutter ' approach some people take is wrong. Businesses vary, and as a result, the skills needed to own and run them vary also. With that, there are some general traits that successful business leader should have.
1. Optimism:
You must be an optimist because, at some point, you have to see beyond the hard times to see the better times. Optimism and confidence tend to go together. You, as the business owner, must be able to make it through the tough times because you have hope on getting better.
2. Able To Sacrifice:
Being in the bottom spot on the totem pole is something that you are going to encounter as owner. Your business takes precedence over just
…show more content…
Most people start a business for self-employment as they can 't get along with their boss.
5. Common Sense:
As a successful business leader, you need to have the ability to anticipate problems and take steps to prevent them. Successful businesses look to outsiders like there are rarely any problems. What they don 't see is a business owner that is keeping his/her finger on the pulse of the business and the industry. When they anticipate changes coming, they take steps to prepare their business in case it comes about. That preparation and willingness to change can make the difference between success and failure. Done well and it 's just about invisible to anyone except the business owner.
6. Be Organized:
Being organized is a major problem to most of the business leaders. In case you can not handle various things at the same time, then you shouldn 't go into business for yourself. There is NEVER just one thing going on when you own business. There are customer problems; there are vendor/supplier problems, and there are competition problems. As a business owner, you have to be able to quickly know and understand which problems need attention first. You have to be able to prioritize your problems and know that those same priorities may change on a moments notice.
7. Be a Leader:
People, especially your employees will always be looking to you for answers. Answers about your products, your market, your competition and just about everything else. As the
A good business will know to understand that their employees need understanding in a time like this and not to put too much pressure which will only make things worse.
Steve Ells is the entrepreneur that started Chipotle. Ells graduated from the Culinary Institute of America. Nevertheless, his original motivations to start the business were: To change the way Americans eat. Also, he dreamed of opening a fine-dining restaurant unfortunately, he ran into the problem of lack of finance. Then, at this point, he had a great motivation to generate cash so that he can start off his huge business in future. So, in 1993 he opened Chipotle to make money to fund his fine-dining restaurant. The idea commenced and Chipotle with its thwart wrapped burritos picked up a religion propelling the company organization to over $826 MM in income with more than 37,000 employees. The qualities I feel that I also possess that would make me a successful business leader are: adaptability, persistence and work ethic. These can be summarized as follows:
also can have risks; as the owner you cannot bring others into the business, so the
Sufficient leaders are instrumental in upkeeping business growth, analyzing success and developing management leadership skills appropriately to help both current and upcoming position requirements is important to monitor results and building robust succession plans.
Being able to recognize your mistakes, change the habit and perform at a higher level. Mark Cuban says one thing a successful leader does is they learn to inspire others. Inspiring other makes a managers jobs exponentially easier. Another is to not try to control everything. Cuban explains that trying to control everything never works. An interesting thing Cuban said about being a good leader was to reduce stress of the people around you. This was interesting because there is not one specific way to do reduce stress of others around you. Mark Cuban has had many years of experience being a successful leader. He contributes much of his success to his work ethic and trying things others had
For the sake of space in this article we are going to assume that you understand the basic principles in starting and successfully managing your own business.
You owe it to yourself, your business, your staff, and your clients to maintain a positive, forward focused attitude. In addition, when you believe in possibilities, they present themselves.
As I have mentioned before you will face obstacles when you are trying to be your own boss. I am reminded of the days when I thought I would fail, when there seemed to be so many obstacles in my way that I just wanted to give up and hope that maybe someone would take pity and offer me a job. Friends, I hope I have illustrated that giving up is not an option when you are managing your own business. Sometimes we look around at people we see on TV or in the movies, or in the news and we say to
The question most Owners have to ask themselves is WHY they decided to go into business for themselves.
Personal organization can have direct impact on your small business 's success. When your important tasks, projects, events and schedule are all managed in a productive way, the result is likely to be that your business is also organized and able to grow. Poor organization skills lead to low productivity, which in turn leads to wasted time and effort. That 's wasted time and effort you simply can 't afford when you are working hard at growing your small business.
Looking outside for a "cure all" or a "quick fix" only leads to continued frustration for business owners because without looking inward at the things that stand in the way of success, the same situations show up repeatedly. The key to success for each of us lies within ourselves.
Listing the things you expect from your business operations and from your employees is a great way to make sure everything gets done when it is supposed to. Organization is not simply for the business world. It can make your overall life better in general. Organizing your life will make things easier to find, save you time, and could even save you money. Time and money don 't grow on trees and if you take the time to organize and then you keep it that way, they are two commodities you don 't have to worry about losing. Organizing your business can bring you the same benefit, in a much bigger way. The value of your time is more and the money you stand to lose is a much higher amount. The price for being disorganized in your business is definitely a hefty one.
On the other hand, if you are an entrepreneur, you take total control over your life.
The discussion over the characteristics of business leadership would be structured into two parts, the first of these dealing with the challenges to which modern day business leadership has to respond, and the second integrating the characteristics of the good business leader, namely the features and traits expected of the good leader.
To be an outstanding businessman/entrepreneur you must require a large range of skills and qualities such as communication skills, time management and relationship building. I believe that I have many of these qualities with earlier period event and competitions that strengthens my point.