Successful Entrepreneurs: Part 1

Regardless of your definition of success, there are, oddly enough, a great number of common characteristics that are shared by successful businesspeople.  Even if you don’t have all of these characteristics, you do not need to be worried. Most, if not all, can be learned overtime. Make them the goal that you reach for and it can almost be guaranteed that your business will thrive. Do these things and  you will become a successful entrepreneur.

1. Enjoy your work. Take it seriously .

Passion is the driving force within people. When you love what you do, you will be successful. Not only do successful enjoy their jobs, the experience success because of it. This is mainly because their passion gives them a reason to get up in the morning and spills out into the energy they give their workday.

Coupled with this level of enjoyment and passion is another characteristic that entrepreneurs have: seriousness. Because the successful ones enjoy what they do, they also take it very seriously. This comes out in the way they protect not only their business but the time that they put into it. You cannot expect to be effective and successful in business unless you truly believe in your business and in the goods and services that you sell. If you believe in your business, you will enjoy it as well as take it seriously.

2. Plan, Plan, Plan.

Effective entrepreneurs are very organized and they plan not only for the task and day at hand, but for the future. If you plan on being successful as a business owner, you have to have vision for your work and be willing to put in time planning your activities.

Planning every aspect of your business is not only a must, but it builds habits that will serve you well in the future. This is crucially important because it requires analytical thinking in terms of decision making. This leads to conclusions being based mainly on fact and research. One of the best ways to make this happen is to launch all business practices with the implementation of a business plan.

3. Steward your finances well.

Cash is king. You need it to buy inventory and pay for services so that you can continue to work. Because of this, handling your cash flow carefully is important. Financial stewardship keeps your business going and allows you to function as an effective business owner. Stewarding your finances well means that you are caring for both what you receive ( income) as well as what  you spend (expenses).

4. Ask for the sale.

A successful business owner knows that they must always close the sale. Remember that marketing is a wasted expense unless a sale is made. Marketing is valuable but it does not pay your bills all of these skills unless you actively ask people to buy what your product.

5. Master the Art of self promotion

Along these same lines, self-promotion is not arrogance. It is a powerful tool that the majority of home business owners have in their tool boxes. People are more apt to make purchases when there is a story behind the product and a face that they can put behind the service. Genuinely let your customers know who you are and they will want to return and purchase more of your product.

6. Put your best face forward

You truly are the face of your business. Everything that you present to the public in terms of branding, promotion, image and personality plays into the success of your venture. The cliche idea “ first impressions are everything” is a universal truth. How you present both yourself and your image will determine how well your business does. From everything to logos to customer service, phone etiquette to store cleanliness, you have but singular moments to make a positive impression on a client or customer. Use those moments wisely.

7. Know your market (customers).

All great and successful business plans will incorporate target market analysis. This essentially means that successful entrepreneurs know exactly who their targeted customers are.

Knowing your customer allows you the opportunity to give them personalized attention. The target market for a home town salon is going to be very different from that of an urban fitness facility. The customers are completely different and a successful entrepreneur knows that.

Accompanied with this is the fact that customers love personalization. The successful entrepreneur knows that you must work just as hard to keep regular customers happy as they do when they are seeking out new customers. People will return and business will flourish when people feel that they are being taken care of, that they are not just another faceless consumer in the mind of the business owner.

 

Coming soon will be Part 2 to this post. Look out for it and while you are waiting, challenge yourself to begin incorporating some of these success principles into your own business practices. Doing so can bring nothing but success.