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Do You Have What It Takes To Succeed in Business?

It has been estimated that as many as 70% of all adults dream of owning their own business.  Yet, very few even try; let alone succeed.  What is the disconnect between this internal desire and the reality of making that dream become a reality?

To be perfectly blunt, not everyone has what it takes to succeed. Last year alone, more than 50% of all new businesses failed, with the vast majority of those left standing not making any profits at all.

Running a business (whether yours or someone else’s) takes a special breed of person. Entrepreneurship is part knowledge, part drive and part persistence.  Those who have an internal drive forcing them to go on will survive and those who don’t, well, won’t.

But that is not all. Becoming a successful business person requires a whole host of skills and traits.  According to SCORE, a leader in helping small business owners all over the country succeed, some of the top traits every successful businessperson must possess include:

An Eye for Opportunity

Can you spot a need and then find a way to fill it?  This is an essential characteristic of a successful business person; one who can see upcoming trends (or at least recognize an unmet need) and jump in before someone else does.

An Appetite for Hard Work

Entrepreneurs work long, hard hours (especially at the beginning of their careers). If you are not ready to give up everything in order to make your business a success, then you will likely fail.

Discipline

The hardest worker can sometimes fail simply because they didn’t work smartly.  Having an eye for what is important and getting down and doing the job at hand is the key to success.

Adaptability

Successful business people don’t allow themselves to get stuck doing things a certain way. They understand the importance of flexibility and adaptability and are eager to learn new ways of doing business. If they can make their day to day operations run more smoothly and help increase their bottom line, they are always willing and eager to give fresh ideas a try.

Good Judgment

Are you able to make solid decisions quickly? If not, this is a skill you will need to develop. Otherwise, your inability to make a move will hold you back.

A Need to Achieve

The most successful people report they are never satisfied. They always want to move onto bigger and better.  This can be a great trait that pushes you forward toward achieving a higher level of success.

Self-Awareness

Most people are keenly aware of their weaknesses. That’s okay as long as you do not let them hold you back. Instead, take this knowledge and use it to your advantage by becoming better at the things you struggle with most.

The experts at SCORE acknowledge that having these traits and characteristics isn’t going to make you an instant success. But, they do contend that those without them do tend to find the path to success much more difficult to navigate.  Work to master these concepts and you will find it much easier to find the success you are after.

About Dennis M. Postema

Dennis M. Postema, RFC, is a successful entrepreneur, best-selling author, coach, speaker and registered financial consultant. He is the founder of MotivationandSuccess.com, StoriesofPerseverance.org, FinancingYourLife.com and TheRetirementInstitute.org.

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