Business people have certain traits and competencies that other people don’t have, and this is the main difference between business success and failure. You cannot just go into business without these traits and competencies or you might be preparing to fail before even starting out.
Your ability to start and nurture a business through thick and thin is dependent on how well you marshal these personal characters to your own advantage and that of your business. These characters are either inborn or cultivated through career trainings and job experiences, and these are what it takes to grow a business and be successful at it.
What then are the key competencies you need to develop to grow your business as an entrepreneur and succeed at it?
- Personal drive: Something within you must be rearing to succeed at all costs and the thing must be eating you up at all times to make it in business. Success must be an obsession and the force driving you.
- Set objectives: You must know what you are out to achieve before you even reach the point. Your goals and objectives must be realizable and within reach to make any sense for continuing in business.
- Honest motivation: You can’t go into business with a mind to defraud people or cheat others of their hard-earned incomes. You must go into business with clean hands and a willingness to solve the problems of people and then gain honest rewards.
- Strong ambition: You must be a man of vision and mission to be a successful entrepreneur, and your focus must remain sharp for you to reach your set goals and objectives. Your ambition must remain strong and unwavering until you get to where you want to be in your career.
- Imbued energy: No one can inspire you if you don’t want to be inspired, and no one can motivate you like you could motivate yourself. Your energy must be well-directed at success and must be overflowing to others around you. Your energy must extend to everyone else.
- Uncommon tenacity: Tenacity means the doggedness and persistence you need to stay driven in the face of all odds. You must exhibit a stubborn will and strength to enable you overcome challenges that surface with your progress.
- Leadership traits: You can’t be a great entrepreneur if you lack leadership skills. All successful entrepreneurs are great leaders, and excellent leadership and success go hand in hand. You must know how to lead a people, organize things, maximize resources, and take unilateral decisions.
- Courage and self-confidence: Everything about a new business is a risk, and every new business has the possibility of crashing within the first two years. In fact, 80% of new businesses fail within the first couple of years. So you must be strong and develop self-confidence to succeed in the face of all odds.