Developing successful business traits

NOVEMBER 10, 2014 BY IFE ADEDAPO

   

 

 

As you make and implement your ideas, it is essential to consider some traits that you need to succeed in business, IFE ADEDAPO writes

There are many successful business people all over the world and to join their league, experts say there are characteristics entrepreneurs need to exhibit.

To build a thriving and sustainable business, business consultants say a winning attitude that does not make them give up easily has to be developed.

According to them, there is no need to wait until a huge capital is available because many great businesses that exist today actually started from their homes with little capital. Experts advise entrepreneurs to start small and grow their business gradually.Moreover, they say there are many doubts people have that are limiting them although they may be creative, have the right skills and business ideas that they intend to pursue.

In spite of this, there are examples of successful people who overcame their doubt, therefore there is nothing stopping them from doing the same. According to Robert Baron, entrepreneurs are people who take action by engaging in vigorous persistent efforts to convert their ideas and visions into profitable operating companies. For this reason, they are expected not to give up but be determined.

Experts have highlighted traits entrepreneurs need to cultivate to run their businesses successfully. Some of the traits are:

Communication skills

Research has shown that the ability to listen to people is a communication skill that is crucial for business success. However, experts point out that people are often carried away and they only hear one quarter of what is being said.

A business consultant, Mrs. Kemi Adigun says listening, writing, and speaking are all skills people use in passing their message to the others and are often used actively in meetings. In executing task within a team, she says these communication skills is crucial, as such the team leader must be able to we must be able to speak and write clearly so others can understand us and listen carefully to what they say.

In writing business proposals, Adigun says writing skills and the ability to communicate intent of the business transactions and the business strategies to clients should be developed.

She advises that the business language can be learnt by reading business related articles and constant practice before facing the client.

Passion

Having the right character and personality will make your rise quickly in the midst of competition and challenges, experts posit.

According to them, the drive to succeed is important because it is a form of personal encouragement to do more when faced with obstacles, transforming businesses from start-ups to well established ones.

According to Wayne Huizenga, when successful entrepreneurs identify an opportunity, they pursue it with vigour. They are immersed in the business day-in day-out, risking both capital and time and are driven to succeed because they are probably more afraid of failure than anything else.

To achieve success quickly, experts advise entrepreneurs to ensure that they have passion for the business they are venturing into.

They add that when they experience a powerful sense of passion and interest in their venture, they are more likely to excel at it adding that being resilience will enable them to overcome challenges, bounce back when faced with setbacks because entrepreneurship is associated with ups and down.

Money management skills

For entrepreneurs who don’t know how to monitor their cash flow well, they should learn it, Adigun suggests.

According to her, business managers must learn how to keep up-to-date record of their transaction in form of inventory, supplies wages and other operating costs. In addition, she says the money received from clients in exchange of goods or services has to be accounted for.

Confidence

When you are confident in your abilities, then people around you will respect you for what you stand for and this will draw people of like mind towards you, Adigun posits.

Experts say self-esteem is the picture you have of yourself and the value you place on yourself, adding that what others think of you does not matter just as the way they treat you either directly or indirectly does not count, but the way you see yourself.

They advise that entrepreneurs should do away with their inadequacies and focus on their strengths and make them better.

They add that women who are mostly guilty of lack of confidence need to constantly remind themselves of the good qualities they possess and learn from men on how they deal with issues.

Competence

To be effective, professional competence is vital. Incompetence can make you lose many opportunities, because your clients need trust in your proficiency.

The Founder, Sokoa Chair Centre, Mrs. Ibukun Awosika, at a conference said that business owners should be able to prove themselves as being capable of executing a business deal. According to her, the starting point to attain high patronage is to develop competence.

Determine what aspect of your job are most important and then make the decision to become very good in those areas, she adds

To be able to compete evenly with men, she says women entrepreneurs should get adequate training in those areas where they feel less competent, adding that, “You must be perceived as being very competent at what you do.”

She says, “That perception alone will bring you to the attention of more people faster than you can imagine. It does not mean that you have to know everything that relates to your business, rather that you know what to do and how to get it done.”

Source:PUNCH