5 Personality Traits of Successful Small Business Owners

The Guardian Life Small Business Research Institute published a report in June 2010 called Six Dimensions That Characterize Success-Oriented Small Business Owners. The survey is based on analysis of a survey of 1,100 small businesses with between 2 and 99 employees. These 6 dimensions include collaborative, self-fulfilled, future focused, curious, tech savvy and action oriented.

Although I agree that these are important, I have identified 5 more dimensions, or personality traits, that contribute to their success.

Success Traits for Small Business Owners

Creativity

Successful small business owners are always thinking about what  marketing activities will keep them visible to their target market. Savvy business owners evaluate many opportunities to see if they can help their marketing efforts.

Patience

Marketing takes time for it to deliver results and those who are successful realize that marketing is about building relationships with prospects over time in order to turn them into long term customers. They accomplish their goals by investing in a marketing plan that guides and sets the parameters for success.

Consistency

Once they put the marketing plan into action, they stay true to their plan. They are consistent with their messages, their activities and their actions, ensuring that they project a consistent image to the market.

Commitment

Even in difficult times, successful small business owners continue to market their businesses and don’t stop marketing just because the economy is negative. They know that staying visible is crucial when times are tough and that when the economy turns around, they will be that much further ahead of their competition.

Thirst for Knowledge

Not only are these business owners experts in their discipline, they are life-long learners who develop their marketing skills throughout their entire career. Those who shy away from learning how to market their businesses find themselves at a disadvantage when they experience a downturn in the economy. Once that happens, it is very difficult to pull yourself out of it.

What other traits are important to be a successful small business owner?

Other items of interest:


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5 Responses to 5 Personality Traits of Successful Small Business Owners

  1. Barbara Ling, Virtual Coach October 30, 2010 at 11:53 am #

    A strong dose of humor and the ability to laugh at yourself when your WordPress deletes your article *right before you hit publish* is essential.

    Happens to me more often than I’d like….

    • Debra October 30, 2010 at 12:28 pm #

      Oh my! I guess I’m old school computers and save my work every two seconds! Once you do the initial save, the auto-save feature should give you some more backup. But yes, a good sense of humor for whatever reason is important too!

      Thanks Barbara.

  2. Per - Foredragsholder December 1, 2010 at 4:43 am #

    Can I add: An open mind! I have for the first many years disregarded networking as a way to get customers. But lately I was talked into changing this attitude and thank God for that! It certainly seems to lead some very interesting possibilities :-)

  3. Zarina Hussain April 14, 2011 at 4:35 am #

    Absolutely. Dedication and patience are two huge requirements for a business to go successful. Even negative feedback should be taken as a learning tool to change what is going wrong. It is a slow and steady process, but completely worth it, once success starts kicking in.

    • Debra April 15, 2011 at 6:24 pm #

      Hello Zarina,

      Yes, without dedication to your passion, it is highly probable that the business owner will quit when something goes wrong or the results are what was hoped for. And it is so true that when you start to achieve success, it is a wonderful feeling. Stay with it and you will succeed.

      Thanks!

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