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10 Key Traits of Successful Small Business Entrepreneurs
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11:57 PM
Have you been thinking about starting your own business? Ever thought about what it takes? We all know that it takes capital. There is one more essential element that you need to have on track. It is your attitude.
According to the U.S. Bureau of Labor Statistics, 56% of all small businesses fail within their first four years. We don’t want that to be you. So, review your business plan and list of traits that have been compiled by Stephen Covey, and leap into your destiny as a successful small business entrepreneur.
Stephen Covey's Top 10 Key Traits of Successful Small Business Entrepreneurs
1. Value teamwork
Successful entrepreneurs recognize that it takes a team to produce success. They know it is never just one person who is responsible for the success of any business venture. They are gracious, appreciative, humble and give people the credit they deserve.
2. Are willing to change
They understand that change is inevitable, and they understand how to adapt to the changes around them in order to make their business grow.
3. Surround themselves with diversity
Successful entrepreneurs maximize the productivity of their business by hiring people who make their own weaknesses irrelevant. They see other peoples' strengths as opportunities rather than threats.
4. Communicate effectively through feedback and active listening
They give instruction and feedback in a manner that empowers people rather than belittles them. In return, they are willing to listen and accept feedback from others.
5. Have a vision and plan for reaching their goals
Successful entrepreneurs know what they want. They have identified what is most important in order to achieve success and are not willing to sacrifice what is most important for what is merely important. They have created a strategic plan that defines how they will achieve their most important goals and by what deadline.
6. Proactively seek opportunities
Entrepreneurs do not sit and wait for opportunities to come their way. They are proactive and prepared for anything that comes along.
7. Are tireless, ceaseless, determined workers
To avoid becoming workaholics, successful entrepreneurs are highly effective during all of their working hours and know when it is time to go home. They seek balance in all aspects of their lives.
8. Understand that removing barriers is a necessary event
They are not afraid to terminate an employee who is the wrong person for the job, or if they simply resist the changes pertinent to company growth.
9. Are high-energy people
Entrepreneurs reach into the depths of their souls to find the energy they need to keep going and growing. Their energy is enough to motivate and inspire others to join or stay with the new venture.
10. Continually nurture the entrepreneurial spirit by taking risks and learning from mistakes
They willingly take risks and learn from others' as well as their own mistakes. Entrepreneurs make decisions quickly and effectively by avoiding the bureaucracy and structure commonly found in large organizations.
"Those small-business entrepreneurs who are humble and willing to learn from their past mistakes and then apply that learning to their future endeavors will be successful over time. Businesses are not only built on success, but also on what is learned from failure," says Covey.
FranklinCovey offers small businesses training and products to increase productivity and effectiveness and to create sustained superior performance over time. For more information on FranklinCovey training or products for small businesses, visit http://www.franklincovey.com .
Kenya Abney has been a featured writer on the web. She is also a Mary Kay Independent Beauty Consultant. Beauty is only a click a way: http://www.marykay.com/kabney4. Please feel free to shop at her site.
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According to the U.S. Bureau of Labor Statistics, 56% of all small businesses fail within their first four years. We don’t want that to be you. So, review your business plan and list of traits that have been compiled by Stephen Covey, and leap into your destiny as a successful small business entrepreneur.
Stephen Covey's Top 10 Key Traits of Successful Small Business Entrepreneurs
1. Value teamwork
Successful entrepreneurs recognize that it takes a team to produce success. They know it is never just one person who is responsible for the success of any business venture. They are gracious, appreciative, humble and give people the credit they deserve.
2. Are willing to change
They understand that change is inevitable, and they understand how to adapt to the changes around them in order to make their business grow.
3. Surround themselves with diversity
Successful entrepreneurs maximize the productivity of their business by hiring people who make their own weaknesses irrelevant. They see other peoples' strengths as opportunities rather than threats.
4. Communicate effectively through feedback and active listening
They give instruction and feedback in a manner that empowers people rather than belittles them. In return, they are willing to listen and accept feedback from others.
5. Have a vision and plan for reaching their goals
Successful entrepreneurs know what they want. They have identified what is most important in order to achieve success and are not willing to sacrifice what is most important for what is merely important. They have created a strategic plan that defines how they will achieve their most important goals and by what deadline.
6. Proactively seek opportunities
Entrepreneurs do not sit and wait for opportunities to come their way. They are proactive and prepared for anything that comes along.
7. Are tireless, ceaseless, determined workers
To avoid becoming workaholics, successful entrepreneurs are highly effective during all of their working hours and know when it is time to go home. They seek balance in all aspects of their lives.
8. Understand that removing barriers is a necessary event
They are not afraid to terminate an employee who is the wrong person for the job, or if they simply resist the changes pertinent to company growth.
9. Are high-energy people
Entrepreneurs reach into the depths of their souls to find the energy they need to keep going and growing. Their energy is enough to motivate and inspire others to join or stay with the new venture.
10. Continually nurture the entrepreneurial spirit by taking risks and learning from mistakes
They willingly take risks and learn from others' as well as their own mistakes. Entrepreneurs make decisions quickly and effectively by avoiding the bureaucracy and structure commonly found in large organizations.
"Those small-business entrepreneurs who are humble and willing to learn from their past mistakes and then apply that learning to their future endeavors will be successful over time. Businesses are not only built on success, but also on what is learned from failure," says Covey.
FranklinCovey offers small businesses training and products to increase productivity and effectiveness and to create sustained superior performance over time. For more information on FranklinCovey training or products for small businesses, visit http://www.franklincovey.com .
Kenya Abney has been a featured writer on the web. She is also a Mary Kay Independent Beauty Consultant. Beauty is only a click a way: http://www.marykay.com/kabney4. Please feel free to shop at her site.
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