Fri 24 Oct 2008
How to Succeed as a Small Business Owner
Owning your own business is much different from working for someone else in a 9 to 5.
Indeed, small business owners are a rare breed - and having the following traits will definitely help you to succeed.
Take Calculated Risks
As a small business owner, you will have to make decisions. No one is going to tell you what decisions to make and when.
Some decisions will undoubtedly work out better than others - that's the nature of the beast. And sometimes, you'll need to take a calculated risk in order to progress.
Although taking risks can be stressful, it can also be satisfying and enjoyable - especially if you trust your own judgement. Being a good problem solver can give you lots of self-confidence, something you need a lot of as an entrepreneur.
To run your own business, you also need lots of enthusiasm. You can't be half-hearted about your new venture; if you are, then you will definitely have problems overcoming difficulties - financial or otherwise - when they arise.
When you're enthusiastic about what you do, you inspire others - employees, vendors and customers - and it will probably be reflected in your bottom line.
Most people would rather do business with someone who is enthusiastic about their work and enjoys it. This goes double for clients.
Most small business owners' best asset is their ambition. This is a drive to achieve, financially and otherwise.
Having ambition isn't a negative thing - it's a good one. Ambition helps you to overcome obstacles and setbacks, which will happen when you have your own business.
Being a small business owner isn't for everyone. But if you have what it takes, you can definitely be successful at it.