Anybody can start a business but it takes a person with certain personality traits to be successful as a business owner or an entrepreneur.
Research by BusinessWeek.
com shows that most business startups have high failure rate especially within the first year.
Nobody wants to fail therefore it is important to improve the like likelihood of success by focusing on the following personality characteristics of yourself and the people you chose to do business with.
1.
Leadership - those who have values and qualities that others want to follow 2.
Motivation - those who have that inner spirit that causes action 3.
Perseverance - those who move forward towards a certain goal despite challenges and obstacles 4.
Knowledge - those with open minds who are willing to undergo continuous learning and education in a desired industry or field 5.
Values/Ethics - those who operate by a high set of standards and moral code of conduct.
These are personality traits that, for many people, can be developed if youhave strengths in leadership and values but lack in the other 3 areas, for example, personal development in weaker areas can help you become the entrepreneur that others want to align with.
By developing your talents and strengths, you indirectly become more self-confident (whether you are aware of this or not) and this shows in your interactions with others.
Prevent your business from failing by: a) Be willing to develop your character as much as possible in all 5 areas before venturing into a business.
By doing so, you will have a better chance at obtaining and maintaining success b) Make sure people that join you in your business venture have the same 5 traits as listed above and if they are lacking in some areas they must be willing to develop