When it comes to running a business, many things play a role in its success. One of the most major factors is the business owner’s personality traits. With that said, here are some traits to get rid of when running a business, as well as traits that a business owner should develop or keep.
Traits to Get Rid Of
The top traits to get rid of are:
1. Enlarged Ego
One of the most toxic traits you should get rid of is an enlarged ego. When a business owner has a big ego, they tend to not listen to anyone who tells them what they don’t want to hear. This is regardless if it’s their own employees or customers. Unless someone is thinking along the same lines as them, they won’t listen to anything. If this sounds like you, then kick this trait to the curb.
2. Being Close-Minded
Being close-minded is a quick way to not grow a business. Business owners who are close-minded tend to point fingers at anyone other than themselves when things don’t go their way. Not only that, but they are rarely or never open to new ideas, regardless of how much sense it is to implement those ideas.
3. Lack of Empathy
As a business owner, one of the worse traits to have is a lack of empathy. It doesn’t matter what type of business you run or the industry you’re in, you need to connect to your customers, employees, and anyone else who plays a crucial role in the success of your business. People are naturally drawn to people who have empathy or at least can express empathy when it’s appropriate.
When running a business, honesty is of the utmost importance. This is especially true if the company is traded publicly. If a business owner does insider trades, then they have to be very careful and do everything in a legal way. By being dishonest, their business can suffer irreparable damage and their customers and shareholders may never trust them or their company again.
Traits to Develop or Keep
The top traits to develop or keep when running a business are:
1. Being Ambitious
Being ambitious is one of the best traits to have when running a company. Part of being ambitious is planning ahead of time for business finances. The same goes for other business goals. When you run a business, the more ambition you have and the more time you take to plan ahead, the higher your chances of succeeding are. The bottom line is to set business goals and be determined to reach them.
There’s a difference between being confident and having an ego. However, having a tremendous amount of confidence means you believe that you can do anything you set your mind to, and you believe those who work alongside you or for you can too. It takes a lot of confidence to start a business, run a business, and to continue to grow a business.
In business, anything can happen and at any given time things can go from good to bad. When running a business, you need to be resilient and just keep going no matter what. Successful business owners know that hard times are only temporary and with strategic planning and hard work, they can succeed.
Not only is it important to be resilient, but you have to do your best to remain calm at all times. If you panic and become stressed out, then those who contribute to your business (partners, customers, and employees) will take notice. This will only lead to a negative effect on your business.
Business owners need to be self-motivated because the truth is nobody cares more about the business’s success than the owners themselves. Some of the most successful business owners don’t just simply focus and complete tasks on-hand. They also have a long-term vision and goals that drive them and motivate them to become even more successful and/or to take their business to the next level.
The bad news is it can be difficult to get rid of toxic traits. The good news is it’s quite easy to develop the above good traits, and if you currently have those traits, then keep them.