The question of why some businesses succeed, where others have failed can be a fascinating topic for review. Take for example a simple restaurant operating in the local area. The establishment opens its doors and the business appears to have all the makings of success. And yet, no one comes to eat. The pristine tables and chairs remain empty while the waiters stand around in bored desperation. Six months later in the exact same location, under a new name and new management team, a fresh new establishment opens its doors.
This time, people are cramming to get in and the new owners can barely keep up with the rate of bookings and significant table turnover per night. The hottest new eating place in town has become an overnight sensation and everybody wants to get in.
The answer to the restaurant conundrum may have more to do with the business owners themselves rather than whether the restaurant was Italian or Chinese.
Over the years Flexible Workspace has had the opportunity to work with a wide variety of small businesses, and in particular those small business owners that establish their premises within our fully-serviced offices and make use of our virtual office facilities.
This has provided us with some unique insight into the entrepreneurial personality, revealing some of the most significant personality traits associated with those people that turn everything they touch into gold.
Besides the obvious and traits such as reliability, flexibility and innovation – what are the five consistent personality traits of brilliant entrepreneurs?
- The Nike Motto:
Entrepreneurs are dreamers and schemers. And I mean that in the most respectable sense. They’re highly creative personalities with a never-ending list of new ideas for business opportunities. What separates the fly-by-nights from the success stories is the ‘Just do it’ mentality. Successful entrepreneurs will stop at nothing to acquire the necessary resources to get on with the task required.
- The X-Factor:
Successful entrepreneurs radiate confidence, as opposed to arrogance. They leave clients feeling comfortable and confident in their abilities, knowing that even if they have never dealt with this supplier before, the supplier will deliver as promised. These entrepreneurs are also completely at ease with their ability, taking the “under-promise and over-deliver” approach at all times.
- The answer is no:
Successful entrepreneurs develop a gut instinct for risky, crooked or low-return business opportunities. They’re not afraid to turn down proposals or even business, which they believe could end up being to the detriment of their companies.
Successful entrepreneurs are honest in all of their business dealings and believe that integrity is quality that can never be compromised. They know that the consequences of dealing in unethical practices will attract further unwanted attention to their organisation. They will advise clients on what they believe is the best way forward, without forcing them to make a decision.
- Fresh functionality:
Successful entrepreneurs are constantly looking at newer, faster and more efficient ways to deliver, while remaining one step ahead of competitors to offer something that’s just that little but different to the rest. One of their most important key differentiators is exceptional service at all times, no matter how big or small the client.
By Brad Porter