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Home Business Possibilities 6
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Reprinted with permission from Janet Attard* Copyright 2004. All rights reserved.
Are there any special character traits I'll need?
People who have bootstrapped their way to success in homebased or other small businesses point over and over again to the importance of the business owner's enthusiasm and dedication.
"Textbook businesses always seem to have investors, be highly capitalized, and have sophisticated business plans," says Duane Long, owner of Long Transportation Services, Inc., a trucking and transportation brokerage in Raleigh, North Carolina. But, while those things are important, says Long, "the textbook scenario is far different than the way the majority of small businesses start."
Long speaks from experience. An entrepreneur himself, he launched his transportation brokerage from his kitchen table in 1984 with only $500. The company, which is no longer homebased, now grosses close to $20 million annually.
As Long sees it, the two traits needed for success in business are knowledge and commitment. "You have to know the product, know what the business is all about, and then put your blood, sweat, and tears into it. You have to become almost obsessed. If you don't, it will fail."
Is it still possible to start a business from the kitchen table?
Yes. There are still businesses that get started with little more than a manila envelope, a notebook, an index card file box, and the family telephone. Some run that way forever. Others move their businesses into a spare room or out of the house as the business grows and add phone lines and equipment to manage the business.
Beside the willingness to work hard, what other personal character traits do I need?
Enthusiasm and belief in your product or service are critical to building a successful business. Your ability to convince customers to buy from you, suppliers to sell to you on credit or at a discount, and family and/or friends to loan money to you all depend on your ability to sell others on the value of your offerings. If you dislike the business or what you have to do to make money in the business, your ability to make the needed sales, contacts, and loans will be crippled.
In addition, most successful business owners generally possess the following characteristics:
They are self-starters. They don't sit around waiting for someone else to tell them what to do or when to do it.
- They get along with most other people.
- They believe in listening to and learning from others.
- They set long-term goals as well as short-term goals.
- They look to the future and live for the future, not the past.
- They are optimistic and realistic.
- They like to take charge and make decisions.
- They don't complain about life; they make life happen.
- They are flexible but not wishy-washy.
- They are honest and considerate in their dealings with other people.
- They believe in themselves.
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