Thinking of becoming a business owner, but wondering if you have what it takes?? Aside from all the mechanics involved in launching and operating a business, you must first ask yourself if you have the right type of personality to be successful.? Well, there is no one specific personality type where you either have it or you don?t, but there are some common traits found among successful business owners which are listed below.
Another factor to consider is franchising, which to some extent, can act as an equalizer and have the effect of ?leveling the playing field?.? A franchise is a business model created so that it can be successfully duplicated over and over by people with many different types of backgrounds and personalities.
Franchises are built around ?systems? such as sales, operations, training, etc. which the owner follows, eliminating the need to ?recreate the wheel?.? However, a franchise owner still needs to have the traits below to be in business in the first place.? Assuming you have what it takes, you must figure out which specific franchise would suit you the best.? An expert franchise adviser can help you through this process.
Compare yourself to these 7 key personality traits commonly found in successful business owners.
1.)????????? A successful business owner is results oriented.? They are able to distinguish between being very busy vs. doing work that matters most.? They identify Key Result Areas ? work that is most critical to the success of the business and they prioritize to make sure this work gets done.
2.)????????? Successful Business Ownership requires someone who is respected by employees, suppliers and certainly customers.? To attain this, it is vital that a business owner treat everyone with respect and insure excellent product and customer service standards are upheld.? The owner is a relationship builder and a leader.
3.)????????? A successful business owner is resilient.? The buck stops with the owner.? At the end of the day, it is up to them to make their business successful.? ?Stuff? happens but regardless, the owner needs to be able to persevere.
4.)????????? A successful business owner understands the importance of premier sales and marketing and is able to perform themselves or hire accordingly.? Revenue and cash flow is king to survival and hopefully prosperity, and a business owner must be proactive to insure the sales process is continuously producing the desired results.
5.)????????? A successful business owner is a ?big picture? thinker.? They don?t get ?wrapped around the axle? by being so short-sighted that they are unable to achieve their mid and long term goals to grow their business.? The owner of an Entrepreneurship Venture needs to be very aware of their company?s strengths and weaknesses and know how to position themselves against the competition and think proactively.
6.)????????? A successful business owner can be a specialist or a generalist, but when it comes to evaluating financial performance they must be detailed (at least enough to understand their profit and loss statements).? This does not mean the owner personally needs to perform payroll, bookkeeping and accounting functions because in many cases it may be better to hire qualified personnel or outsource these functions.
7.)????????? A successful business needs to be capable of living a balanced life and not be consumed by their business. ?They realize growing a successful business is a journey to be enjoyed.
To learn more about business ownership and to see if you have the right personality to succeed, take the next step.
Most people go online to search businesses or Franchize for sale.? They see many options and can quickly get very excited about the idea of controlling their own future as a business owner.? If they are not careful they can get caught up in the emotion and excitement of learning about these businesses and not conduct thorough due diligence.? Even worse, they don?t stop to analyze themselves to determine if they should be a business owner in the first place.
An experienced franchise adviser can be extremely valuable in helping you through a bit of self-discovery to help you determine if you are cut out to own a franchise.? They can go further in helping you identify the specific franchises that may fit your personality traits and strengths and weaknesses.? They also can keep you on track to make sure you do thorough due diligence.? Having this knowledge should enable you to enjoy a great new life as a franchise owner because you will know the business is the right fit for you, well before you ever begin!
For more information on the personality traits above and help exploring franchise ownership,?Contact us.? There is no cost or obligation for our service.
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