Do You Have These Personal Business Owner Traits?

Business owners of all “shapes and sizes,” backgrounds, education levels, and expertise have created successful online businesses.  But there are some personal traits or characteristics that seem to be common among successful entrepreneurs.  Do you have these traits?

Here they are:  five personal attributes you should possess (or acquire) to be successful in your solo online information business.

Most “How to start a new business” books will include a list of personal characteristics the author feels are necessary for the entrepreneur to have in order to be a successful small business owner – but no two lists will be the same.

The personal traits that I’ve included on my list aren’t those that might “come in handy” down the road sometime. These are essential must-have elements that are the basis of the owner’s persona and they will become the foundation of his/her management ability and capacity.

1. The first trait I consider essential to every successful business owner is personal motivation – the ability to get off dead center and make things happen.  In a solo business capacity, the owner is the catalyst that sets everything else in motion. If you have difficulty finding the motivation to accomplish sometimes mundane boring tasks, even though you know they must be done, then putting yourself on the business hot-seat (i.e. being responsible for all actions that lead to success) may not be a good idea.  Motivation can be acquired if you don’t have it now, but going into business without being motivated to succeed “at all costs” is never a good thing.  You are the business.  You are the boss!

2. Characteristic number two is the ability to pay close attention to details. There are few other human endeavors that are filled with so many small, often boring, and seemingly insignificant little action items as running a small business. If your attitude about taking care of details is usually “don’t sweat the small stuff” or “I’ll get to it later,” you will not last long as a solo operator.  You prospects and customers are depending upon you to keep them happy, fulfill you promises, and deliver what you promised you would give (whether paid or not).  In a solo business, you either perform all the details yourself or you outsource some tasks to others for a fee.  You either do it or pay to get it done on time.

3. Personality trait number three is the love of work and the ability to enjoy and find satisfaction in the “journey.” If payday is the only time you get enjoyment from your business, you will struggle to be happy and fulfilled by the work you do. There is a reason why the online business owner chooses a niche that he has passion for and experience in. If you love the subject of your business and find great pleasure and fulfillment working in this space, you will have a much higher tolerance for the sometimes boring and mundane tasks that have to be done. You won’t have to force yourself to get out of bed and fire up the computer. Your enthusiasm for the subject will carry you through the typically lean early months (or even years) of establishing your business in the market place when your compensation may not be adequate.

4. The fourth characteristic I believe you must have in order to be successful is adaptability.  The business world is in a state on continuous change, evolution, and upheaval. Customers change preferences, competitors change strategies, technology changes rapidly, economics and politics change the business environment, and you must be in a position to be flexible and adaptable in your thinking, your products, your marketing, and all your business operations very rapidly.  Big business typically has difficulty with fast adaptability.  But that’s one of the real strengths of the solo online business model.  You can be as flexible and adaptable as you like.  You can take advantage of new opportunities and technology very quickly.  You can change immediately to meet customer demands and changing market place sentiment.

5. Finally, I would say that all great business operators generally rely upon their persistence to become a success. If you tend to hop around endlessly between projects, get bored easily with one task, or are ready to throw in the towel at the first sign of failure or discouragement – then solo business may not be right for you. Persistence, by itself, is responsible for more business success than any other principle or trait I know.  Some have said “profitable business is 10% inspiration and 90% perspiration!”

Yes, there are other personal qualities and characteristics that will be important for you to have or develop as you plan and execute your business, but these five I consider to be essential ingredients for nearly every profitable business owner.

Any of these traits can be learned or acquired through education, hard work, practice, and daily use or exercise. But if you are not willing to go after them, they are not likely to come looking for you.

To your online business success,

Steve Browne

www.SteveBrowneDirect.com