Key attributes for business success in

Is it about knowledge, skill and talent?
There are no easy answers to that because you are not alone in that business, and your competitors are not sleeping either and they may have the same traits as you have. The key to beating the competition and achieving success is mental, reflected in one’s attitude, totally controlled by the individual and requires no cash. This holds true in most human endeavours besides business — in sports, the arts and politics.
Attitude also plays a key role in the dynamics as often demonstrated when underdogs outclass their more talented opponents. Writing in the publication, Entrepreneur.com, Rob Reiss presents 12 attributes that can put you in the right mindset for achieving entrepreneurial success.
1. Have passion for your business: Work should be fun. Your passion will help you overcome difficult moments and persuade people to work for you and want to do business with you. Passion cannot be taught. When it wanes, as it surely will in difficult times, take some quiet time.
Whether it be an hour or a week, take inventory of all the reasons you started the business and why you like being your own boss. That should renew your passion.
2. Set an example of trustworthiness: People have confidence in trustworthy individuals and want to work for them in a culture of integrity. The same is true for customers.
3. Be flexible, except with core values: It’s a given that your plans and strategies will change as time goes on. This flexibility for rapid change is an inherent advantage of small over large business. However, no matter the pressure for immediate profits, do not compromise on core values.
4. Don’t let fear of failure hold you back: Failure is an opportunity to learn. All things being equal, venture capitalists would rather invest money in an individual who tried and failed founding a company than in someone who never tried.
5. Make timely decisions: It’s okay to use your intuition. Planning and thought are good. But procrastination leads to missed opportunity.
6. The major company asset is you: Take care of yourself. Your health is more valuable than the most expensive machinery or computer software for the company. You don’t have to choose between your family or your company, play or work. Maintain your health for balance and energy, which will, in turn, enhance your mental outlook.
7. Keep your ego under control: Don’t take profits and spend them on expensive toys to impress others. Build a war chest for unexpected needs or opportunities. This also means hearing out new ideas and suggestions no matter how crazy they sound.
8. Believe: You need to believe in yourself, in your company, and that you will be successful. This confidence is contagious with your employees, customers, stakeholders, suppliers and everyone you deal with.
9. Encourage and accept criticism graciously: Admit your mistakes. You need to constantly work on convincing your employees that it’s ok — even necessary — to state their honest opinions even it if conflicts with the boss’s opinion. Just stating it once or putting it in a mission statement won’t cut it for most people.
10. Maintain a strong work ethic: Your employees will follow your lead. It will also help you beat your competition by outworking them, particularly when your product or service is very similar.
11. Rebound quickly from setbacks: There surely will be plenty of ups and downs as you build the business. Learn from the setbacks and move on. You can’t change the past.
12. Periodically get out of your comfort zone to pursue something important. Many times you will feel uncomfortable in implementing a needed change in technology, people, mission, competing, etc. For the company and you to grow personally, you sometimes have to step out of your comfort zone.
Having a good attitude towards work can help in promoting good organisational and leadership attributes that are required in business. While all the other attributes can be learned, it is the passion from within that can make all the difference. It is the single attribute that will ultimately drive the vision for the business and shape the strategy of the firm.
Businesspeople are encouraged to take time to review their operations from time to time and reflect on some of these attributes.
No man is an island and listening to what others say about you is another evaluation mechanism that can be employed to take stock.
As always, let’s make money.