19 Traits You Need to Succeed in Your Own Business

by Lillie Ammann
Serial entrepreneur

We often hear of the high failure rate of businesses. Perhaps one of the primary reasons for business failure is that individuals go into business who don't have the traits necessary for business success.

They think that because they are good at taking care of children ... or good at lawn care ... or good at plumbing that they will be good at managing a kindergarten business or good at managing a landscape business or good at operating a plumbing company.

However, there are many differences between working as an employee in a business and operating the same business. Business owners, entrepreneurs, must have - or hire - certain characteristics that employees don't.

Not all entrepreneurs have all the characteristics, and some can be delegated. If you are disorganized, you can hire an assistant to keep you organized. But if you are completely disorganized and continue to run your business in a disorganized way, your chances for success are slim.

The following traits and talents are all important and listed in alphabetical order.

* Ability to manage money

* Ability to relate well to diverse people

* Commitment to excellence

* Competitive attitude

* Decision-making skill

* Flexibility

* High drive for achievement

* Leadership

* Organization

* Passion

* Perseverance

* Problem-solving skill

* Responsibility

* Self-confidence

* Self-motivation

* Stamina

* Strong work ethic

* Trustworthiness

* Willingness to take calculated risks

If you have - or can delegate - these traits and talents and want to know more about starting a business, look for other, more detailed articles in this category.