#Success formula for a small business owner or #entrepreneur is in their ability to learn, understand and manage the below 4 aspects.
Firstly they need to work on their #emotionalinteligence. It is their ability to learn, grasp, synthesise, identify patterns, become self aware, self regulate, visualise, understand mindsets etc. Some of it can be born trait but a lot of it can be learnt.
Secondly they need to work on their #strategicplanning and #execution. It is the ability to look beyond few years and objectively set a #vision for their business. Small businesses fail due to lack of this intent. This has to come naturally to them. Business coaches can help them but it is the business owner who needs to see that future vision and they need to believe in it.
Thirdly they need to work on their #financialliteracy. It is their ability to understand how the business is making money. This sounds simple but as the business grows it all becomes complicated. So, by having right financial literacy they can relate back to those basics.
Fourthly they need to work on their #speciality. This might sound too obvious but often either completely ignored or spent all their time on it. With technology disruption this is in constant focus.
#smallbusiness #growthmindset
4 Important faculties to master to succeed in business
