I have heard many former business owners give ... why their business failed. They have said ... the market was slow, their ... ... on them, too much ... etc. It
I have heard many former business owners give many reasons why their business failed. They have said it's because the market was slow, their suppliers raised prices on them, too much competition, etc. It's usually because they didn't have enough entrepreneurial traits.
There are a wide range of entrepreneurial traits you need in order to run a profitable business. I'm not saying you need all of them, but the more you have the greater chance you'll succeed. It could also depend on the type of business you have.
You need to be goal oriented. Making reachable goals for your business is important. The goals will give you something to focus on and lead your business in the right direction. They can also give extra motivation to overcome your business problems and obstacles.
You need to have patience. Many business owners give up way to early. They think you can get rich over- night by starting their own business. You need to have a positive attitude and stick with it.
You need to have the energy. It's important to give yourself the extra time out of your business life to eat healthy and exercise. You will have a healthier mind and body to work the long hours a business requires.
You need to be able to take risks. I'm not saying to take high stakes risks, but take calculated risks. Most entrepreneurs aren't afraid to take risks, because they can visualize the end result.
You need to be organized. When you run a business there is a lot of paper work involved; taxes, record keeping, licenses forms etc. You need to be able to organize your business and marketing plans in order for your business to be successful.
Just because you may not naturally posses some of these entrepreneurial traits doesn't mean you can't learn them. There are a number of books, courses and web sites out there that you can use to develop these traits.
The bottom line is that your future depends on the actions you take right now. By being organized and prepared, you're making your business "failure proof". And this is exactly what's needed online.
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