Knowledge, skill, talent, and to some extent, resources are important success components for Small Businesses.
However, many competitors have equal or more of these components than you. The key to overcome competition and attain absolute success is mental, which is reflected in one’s attitude and is totally controlled by the individual and requires no cash. This holds true in most human endeavors besides business like sports, the arts, politics, etc.
How many times have we seen the underdog team or player win over the more talented opponent? The difference is attitude.
Here are 15 Attitude Attributes to keep in mind in pursuing Entrepreneurial success.
1. Have a 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 can’t be taught. When it wanes, as it surely will in difficult times, take some quiet time, whether it be an hour or a week and think of all the reasons you started the business and why you like being your own boss. That should recharge your passion.
2. Set the example from Day One that you and your company are trustworthy.
People have confidence in trustworthy individuals and want to work for them in a culture of integrity. Ditto for customers.
3. Be flexible except with core values.
It is a given that your plans and strategies must 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. Never let up on Quality.
Quality is essential for Repeat Sales.
5. Don’t let fear of failure hold you back.
Failure is an opportunity to learn. Venture Capitalists would rather invest money, all things being equal, with an individual who tried and failed founding a company than someone who never tried.
6. Make timely decisions.
It’s okay to use your intuition. Planning and thought are good. But procrastination will make you miss opportunities.
7. The major company asset is you.
Take care of yourself. Maintain your energy level. Your health is more valuable than the most expensive machinery or computer software for the company.
8. Keep your ego under control.
Don’t take newfound profits and spend them on expensive toys to impress others. Build a war chest for unexpected needs or opportunities.
9. Believe.
You need to believe in yourself, your company, and that you will be successful. This confidence is contagious with your employees, customers, stakeholders, suppliers, and everyone you deal with.
10.Maintain balance.
It doesn’t have to be your family or your company. Play or work, etc. This will enhance your mental outlook, which is what we’re talking about.
11.Encourage and accept criticism graciously. Admit your mistakes.
You need to constantly work on convincing your employees that it’s okay even necessary to state their honest opinions even it if conflicts with the boss. Just stating it once or putting it in a mission statement won’t cut it for most people.
12.Create an environment where innovation can flourish.
This means hearing out new ideas and suggestions no matter how crazy they sound.
13.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.
14.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.
15.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.
Many of a company’s or leader’s shortcomings can be overcome or mitigated with the good attitudes described above. All can be learned except passion which comes from within. Periodically take time out from your hectic schedule and reflect on these attributes, and you may draw inspiration from them that can translate into favorable action.