The school of hard knocks isn’t that hard, and the knocks aren’t that tough when you learn the ropes from the people who know how to play the “game” and became a success because of it. Doing business can be the same way, but knowing who to go to learn from can be rough, so Humboldt Merchant Services (a high risk merchant account provider) has done some of the legwork by compiling some of the best information on what attributes entrepreneurs think a business owner must possess to be successful.
Don’t lead with your heart. If you allow emotions to play a part in your decision-making, then might have already changed the course of your business for the worse. The best entrepreneurs can separate their emotions from difficult business decisions and solve them logically. They go into the making the next business decision with a clear head, giving them the upper hand on those who wear their heart on their sleeves.
Flexibility is good. Every good marksman knows you can’t just set your scope and think it’s going to be ready for any situation. Just like in business, there are variables for every shot you take. You have to factor in the wind, terrain and what the target is. In business, you if you don’t adjust for the changes you face every day, you will eventually fail or have to have a serious overhaul that could cost you any profits you may have saved. You need to embrace new ideas and processes to move your business forward.
Do what you love. Is it really a job if you love what you do? The good people at entrepreneur.com answer that question this way: What you get out of your business in the form of personal satisfaction, financial gain, stability and enjoyment will be the sum of what you put into your business. So if you don't enjoy what you're doing, in all likelihood it's safe to assume that will be reflected in the success of your business — or subsequent lack of success. In fact, if you don't enjoy what you're doing, chances are you won't succeed.
Mistakes aren’t always bad. Mistakes can be bad, but covering them up can be even worse for a business. Inc.com says the most successful business people look at mistakes as something to learn from and implement change to avoid making those same mistakes the next time the situation arises. They also see mistakes, in some cases, as an employee looking to find a better way of doing business, and, in the long run, a few mistakes might make the business more efficient, and in turn, more profitable.
Does it have enough RAM? In today’s business world, technology acts as the best way to level the playing field for small businesses. When used correctly, no one can tell if you’re a single man operation or you have 1,000 dedicated employees handling your website and marketing campaigns. And keep a level head when the “latest and greatest” technology is released, get what fits your needs, but don’t be afraid to upgrade if needed.
Let others succeed. Just like any football coach, you’ll go as far as your team takes you. So as a business owner you have to create an environment that allows your employees to flourish, and don’t be scared to promote their accomplishments! If you surround yourself with motivated go-getters, you are building a climate for success that benefits you, your business and your employees.
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