There is a very intriguing question of “if a business can make one a millionaire, why isn’t everyone, in this capitalistic society, a businessperson? that must be answered. Therefore, in this article I will be looking into what are the reasons behind this reality of a minority of businesspersons being successful.
Starting with the basics, a businessperson initially needs Land, Labor, Capital, and Enterprise to set up a business. Now let’s dissect these aspects: by land one means a physical site for building, or website for the company, and raw material to manufacture the products.
If your business provides services, then the term “raw material” would stand for training your employees. By Labor one means skilled, unskilled, temporary and permanent workers for their business to run smoothly and efficiently. The capital stands for the finance, factories/offices and machines employed to produce products or services.
Moreover, by needing an enterprise stands for needing risk takers, decision makers and coordinators to coordinate and execute the strategies of business. A successful businessperson must have all these aspects in order to set up a business that could reach for the stars in the future. However, these aspects tend to be the very first limiting factors for a person to enter the business industry.
Even when one has sorted out all the aforementioned aspects, the success is not promised. There are countless businesses that enter the industry and face a significant failure. There are a set of characteristics that a successful businessperson must have in order to leave a mark on this world.
The characteristics of a successful Businessperson
These characteristics include: innovation, commitment and self-motivation, multi-skilled, leadership skills, self-confidence and risk management.
A successful businessperson must be innovative in order to carve a niche in the business world, attract potential buyers and present their business as unique. This require a perspective that is diverse and is able to think outside of the box. Commitment is a characteristic that is rare among us. A successful businessperson must be willing to commit and must be willing to work tirelessly, and have a keen ambition to succeed no matter what.
Along with innovation and commitment, a successful businessperson must be multi-skilled as well as they will have to get the product made, promote it, sell it and keep the accounts in order. Hence, a successful businessperson must be keen to learn technical skills, charismatic, cooperative, and learned enough to keep the account records.
Moreover, the entrepreneur must know how to lead by example and have a charismatic personality that would motivate people to follow his footsteps. He must be punctual, professional and cooperative to set a perfect example for the subordinates.
An ability to bounce back and have self-confidence can prove to be crucial in a business as many businesses that start, fail initially. This is something that should not discourage a potentially successful businessperson, as they would have the trait of bouncing back from the set back and learning from their mistakes.
Lastly not everyone has the ability to manage or take risks. A successful businessperson must be cool head, and know how to control their emotions in order to take risks. This characteristic makes or breaks one’s business as they come across the choice of risking their savings, by investing into the business.
Towards the end of this article I would like to ask, if you have all the aforementioned aspects and characteristics in yourself, what is stopping you from your own success? Go rise like a phoenix from the ashes and leave an impact on this world worth remembering for generations to come.