Three Traits for Long-Term Business Success

By Angie Hicks | Posted: 09/18/2013 9:14AM

 

Angie's List  home improvement  Angie Hicks 1. Passion: To survive the initial stages and future ups and downs of building a business, you need a good reason to get up every morning and keep plugging away. So what drives you? Whatever it is, that’s your passion. And it’s a necessary fuel. Over time, the mere need to pay bills or be your own boss might not be enough to sustain you over the long haul. So think about what motivates you, and tap into that energy. It might be the thrill of building an enterprise that didn’t exist before, or practicing a craft you truly love, or providing a service that helps others or building an effective team. Maybe all of the above.

2. Perseverance: No matter how much you enjoy running your own business, there will be times when you’ll be tempted to quit the whole thing. Take my word on this. Some challenge or obstacle will appear insurmountable. This will happen especially in the early days of building a business, no matter what type of work you’re doing.

3. Focus: People are the heart of a successful business, and you should be focused on creating a team that shares your goals and balances out your weaknesses. As part of that focus, make sure you're clear about your own and your staff’s strengths so you can put the right people on the appropriate tasks. A good team can execute a mediocre idea better than a mediocre team can execute a good idea. The bottom line is that while smarts, training, personality and other factors are wonderful qualities to have when you’re running a business, your most prized assets are passion, perseverance and focus.

Angie's Advice to Small Business is part of our Summer of Small Business at Angie's List. Follow Angie Hicks on Twitter @Angie_Hicks.

 

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