All of us have seen the aesthetic Instagram business pictures with formal dresses, coffee, cool architecture and a laptop. Most people think of owning a business as an aesthetic lifestyle. While social media isn’t incorrect, that is only the tip of the iceberg of what it takes to be a business person. Let’s dive into some of the individual traits you need to be successful in a business!
1. Having Curiosity:
Successful businesses are created when the company has a purpose associated with a problem. Being curious and investigating the issues faced around the world will help jumpstart your entrepreneurial mindset. Curiosity is a vague trait, but if you are the person who will question situations and investigate the causes of events, you are curious.
Quote: “Curiosity is one of the great secrets of happiness.” — Bryant H. McGill
How Can I Develop This?:
Being observant is the best way to stimulate curiosity. You can start with simple habits such as closely observing two things everyday which you normally overlook. For example, the next time you look at the pair of Nike shoes your friend is wearing, you should ask yourself: How did this business profit? What did they do differently?, etc.
2. Identify Your Passion
Oftentimes, we think that making a random business which does not align with our passion and interests will still succeed. The bitter truth is that a business will only succeed if the cause aligns with the values of the creator. People think that they will earn money when they invest thousands of dollars into a business; however, if your values don’t align with the purpose of the business, it will fail when you face obstacles.
Quote: “Follow your own passion—not your parents’, not your teachers’—yours.” —Robert Ballar
How Can I Develop This Trait:
Now, you might be wondering, how do I identify my passion? The answer isn’t simple, but it involves experimenting with your likes and dislikes. Put yourself in different situations and reflect on whether you genuinely enjoy the tasks. Passion is a feeling built over multiple years of consistency, perseverance and dedication. Your passion doesn’t have to be a hard skill; it can be as simple as caring for the environment. ——
3. Being Adaptable
Being able to adapt to changing circumstances and employing strategic thinking to move forward is a crucial business skill. Whether you’re starting your business or trying to sustain one, being adaptable is crucial to surviving in the market. Businesses face obstacles at every step of the way, from initiating an idea to manufacturing products or offering services. Without adaptability, your business will remain stagnant, and innovation will not occur. Individual adaptability is equally important for business owners; this means persevering through obstacles, being prepared for unexpected challenges, etc.
Quote: “Intelligence is the ability to adapt to change.” – Stephen Hawking
How Can I Develop This Trait:
You might think adaptability is often dependent on the circumstances you face, but adaptability has more to do with your reaction to the circumstances. In other words, using decision-making and managing stress under pressure are ways you can enhance your adaptability skills. Most of the time, we already practice adaptability, whether it be using a different bus when your bus doesn’t come on time, or deciding what paragraph you want to focus on in a timed essay assessment.
4. Discipline
Without discipline, there is no consistency to follow through on an idea. Oftentimes, businesses fail when there is no routine which stimulates productivity and actions. Starting a business can be overwhelming, whether it be convincing people to invest or obtaining permits. Without discipline, it is easy to fall behind on your schedule. While many of us think owning a business means we are in control of our time, it also means managing our time in an organized manner. Discipline can be as simple as setting aside at least 2 hours daily to work on your business, whether it be doing market research or setting up systems.
Quote: “Discipline is the bridge between goals and accomplishment.” – Jim Rohn
How Can I Develop This Trait:
Discipline is a skill not only beneficial to entrepreneurs, but it’s also useful to excel in academics and your career. A big part of instilling adaptability is to create a schedule for yourself. This can be as simple as giving yourself allocated time to do homework for each unit. This will help develop consistency, which is extremely useful for entrepreneurs.
5. Embracing Leadership
Leadership is a crucial trait you need to be successful as a business owner. Leading isn’t limited to making decisions on behalf of the company; it is an attitude towards your contribution. In other words, guiding your partners, taking initiative to progress, creating short-term and long-term goals and identifying the problems your business is facing are all a part of what it takes to be a true leader.
Quote: “There are leaders, and there are those who lead. Leaders hold a position of power, but those who lead inspire us”-Simon Sinek
How Can I Develop This Trait:
Leading is a trait that is developed through taking initiative. Think of developing leadership like developing math skills; the more you practice, the better you get! You can start by performing acts of leadership in school groups, clubs, or in the community. Remember, having the position of a leader and performing acts of leadership are extremely different. For example, you do not have to be the leader of your local club to offer a new idea, change the regular methods or inspire others.
TL;DR
- Being a business owner is far beyond what Instagram and Pinterest show it to be
- Be Curious: Questioning the world around you helps you find true purpose in your business
- Identify Your Passion: Passion = Cause = Purpose —> Successful Business
- Adaptability: Being able to respond effectively to unexpected situations is the nature of business
- Discipline: Most Businesses require you to manage your time independently; therefore, maintaining consistency is key
- Embracing Leadership: Being in a position of leadership is different from leading. Leading requires initiative, consideration and dedication