Characteristics of Successful Businessmen and Women

While a great service, product, or idea certainly doesn’t hurt, your success as an entrepreneur relies on a lot more than just what you’re trying to sell. ‘Entrepreneur’ is more than just a title — it’s a mindset.

Are you considering starting your own business or joining a franchise? If so, now is the time to take a look at some of the top characteristics of successful businessmen and women!

They’re Self-Motivated

When you’re “the boss,” there’s no one there telling you what to do and when to do it. While this may sound like a dream come true to some people, it can be a recipe for disaster if you’re not self-disciplined.

If you purchase into a franchise, it’s still important to be self-motivated., however, you’ll often have a dedicated business consultant to help guide you through your lifetime as a business owner. Whichever route you go, if you want your business to succeed, it’s important to push yourself.

They’re Risk Takers (to an Extent*)

A successful entrepreneur needs to be willing to take risks. Whether you’re opening a new franchise location, pursuing a new audience, or selling a new product, there’s always the chance that your time, money, and energy won’t pay off. Then again, there’s a chance it will.

The best way to minimize your risk is to do as much research as possible and talk to people who have been in your position before — a reason why having a national network of franchisees at your disposal is a huge bonus!

They’re Decisive

As an owner, you’re the decision maker of your business. While you should always consult with other people on your team before making a decision, ultimately the choice is up to you.

They Have Strong Money Management Skills

When you go into business for yourself, you’ll quickly realize that needs and wants are two very different things. If you don’t spend your money wisely, you may find yourself in a tough situation before you’ve even opened your doors.

They Know What Skills They Lack

Even the best entrepreneurs don’t possess every skill necessary to run a successful business — that’s why they hire people who will complement their skill set. Great entrepreneurs don’t fear strong leaders, they hire them.

Are you passionate about making a difference in your community? If so, consider joining our The Little Gym franchise family! If you want to know more about our children’s gym franchise opportunity, check out our Steps to Ownership page to learn about our process.