Article Promotion

Small business owners have traits that include character, attitude, passion, skills, talents and the dedication to gaining the necessary marketing knowledge and business principles. No on can succeed without a proper combination of these traits. They are imperative.

Passion for a particular industry or business is important, yes, you you can’t do it on that alone. You have to have the aptitude and skills. Your natural talents that have been enhanced through experience and education and skill development are required to build your business. Then you must find the under-served market that you can cater to.

When I talk about character, I do mean honesty but also extreme patience. It can take five years to truly get a business off the ground. You need courage and confidence as well. If you do not have a calm, but driven center in as part of your character, you are going to face undo stress and are likely to inflict your frustration and fears on others.

A small business owner must commit to being a learner for life to be successful. Ongoing study of marketing, new technologies, HR basics, communication and accounting are required to stay proficient. This includes learning and updating software skills as well!

Your small business startup will have an impact on everyone you love and your friends as well. With a proper plan in place, it shouldn’t be like this but in the first year or so, you can expect to have minimum spare time and more stress.

Your spouse is the person who is likely to be the most impacted by your startup. It can be a financial and emotional strain. You have to set expectations in advance, have extra support on hand for child care and transportation, and address fears and concerns up front about how the two of you will spend time together.

To preserve your significant relationships, you need to set up expectations ahead of time. You, personally, must set boundaries around how much time you spend on the business and encourage others to express themselves when it it too much. Communication and time management are the keys to making this work.

A lifestyle issue to watch involves your spending habits. In the early phase of starting your new business cash will be tight. I don’t know many people who know how to start business without cash issues. Since cash is tight it’s best to get a real handle on what you spend and make sure in the start up phase that you are keeping personal spending to a minimum. The more cash you need for personal spending the greater the strain on the business.

Watching personal spending is a commitment both you and your spouse or partner need to have to give your business the best chance for success. It’s always a good idea, no matter what stage of business you are in, that you manage your personal spending well.

It doesn’t mean you won’t have a life. It just means that your business will be a big part of your life. So, if you’re married, don’t forget that your spouse should be involved at some level. Many very successful small business owners tell me that their spouse is a big part of their success. I know it’s true for me too.

Filed under: Communications