Do You Have What It Takes to Run a Successful Small Business?

Confident businesswoman looking awayWhat does it take to run a successful small business these days? It turns out that there are some traits that great small business owners share. While it may seem like the traits you need to succeed are inherent in your personality, you can actually cultivate many of the these habits.

Financial know-how. How well do you manage your personal and business finances? Great business leaders know that if financial know-how isn’t their specialty, they need to bring on a partner they trust to help – in addition to getting a better understanding of their own finances. Don’t go it alone, here – hire an accountant to help manage your finances, and get organized early. While a solution like Quickbooks can help you early on, ensure that you are giving yourself room to grow. As your business starts to get larger and more complex, you must be able to ensure that your financial organization can keep up.

Creativity. What makes us creative? Human beings are naturally creative, as it’s our inquisitive and experimental nature that helps us make sense of the world. It’s only as we grow older and learn “the rules” that we start to cement our thinking. Sometimes creative thinking requires thinking both outside the box or beyond your current pool of talent, too. Choosing to outsource some tasks with a company like Ohio Valley Goodwill Industries during a business rush can help you and your core team stick to what you do best – while meeting your production goals. Contact Ohio Valley Goodwill Industries for a free tour of their facilities. Tackle tough challenges in new and unexpected ways and you could uncover huge savings for your company – or even invent new products or methods of operation.

Grit. What is “grit”? It’s the ability to dig deep and keep going when other people quit. Many studies have found that it’s not intelligence or even wealth that’s the key to a person’s success, but their ability to stick to a task until they achieve their goal. Grit is more than just persistence, though. It also means being able to walk away from a bad deal or change your goals as the environment changes. As the old song goes, successful business owners know when to hold their cards, when to fold them, and when to run. How can you cultivate grit? Here are some great exercises to get you started.