Are you a small business owner looking to perfect your business technique? Perhaps you’re ready to set sails to your business venture. When it comes to being a successful small business owner, there are quite a few key traits that one must possess. In 2004, a seminal study was conducted to determine the Big Five personality traits that every successful business owner seems to achieve. Let’s take a look at these traits that play an important role in a successful small business.

The go-getters and those who believe ‘the glass is half full’ fall into this category. This trait is always thinking outside the box and finding new ways to achieve success in the next level of their business.

Another key trait in small business success is learning to become pliable and adapt to the change of trends. Be prepared to wear many (small) hats and improvise as you overcome challenges to grow in your business.

Successful business owners understand that building trust is a top priority. One needs to deliver on promises, exceed expectations, and effectively communicate with others. Have a solid reputation by actively getting involved with social media or blogging.

Passion Driven
Successful entrepreneurs aren’t money-driven, they are driven by their passion for their craft. They want to solve a problem and make a difference while doing it.

Successful business owners know that they are responsible for all actions they make regarding their business. From financial planning to major decisions, your business depends on how well you stand accountable.

Future Thinking
Business owners need to be thinking about the future. They need to be able to see an open opportunity through a problem. Where most people can’t get past the problem, you will solve the case and apply it to their industry. You’re an innovative thinker and are not afraid to go against the grain with ‘crazy’ ideas.

Lastly, a strong and successful leader will know how a business makes quick decisions. It’s easy for most small businesses to make no decisions at all out of fear of making the wrong decision. Indecisiveness can cause problems down the future path of your business.

At Velocity Merchant Services, your success, as a business owner is our passion. We want you to be able to envision where you want to be in the future, and then help you get there. Follow us on Facebook, Twitter, Instagram, Google+ and LinkedIn for better business insights tips, and ways to succeed in your industry.


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