Watch Out – You Might Be the One Hampering Your Business!
X is a happy, outgoing person, ready to help others and unconcerned about competitors. Y is secretive and suspicious, and interacts with employees only if needed. Z is a mixture of both: open with his employees but constantly worried about competition. Who do you think is most likely to succeed?
To answer that, you should realize that although your small business can succeed or fail due to many factors, the most important among them is you. Your personality can make or break your business, regardless of how highly qualified and experienced you are.
Many people view entrepreneurship as a team effort. Even if your business is now very small and you are the sole employee, you need to arrange for raw materials, obtain loans and find markets.
It is a given that you will be interacting with others — hiring, organizing and motivating your employees; negotiating for funds from investors; buying things from vendors; and selling your products or services to customers. You also need to connect with most of them via social media.
Studies indicate that if you are open, sociable and energetic, you are likelier to have thriving, profitable and financially secure businesses. This does not mean you can afford to be careless, disorganized and easily distracted. You should stick to plans and be efficient all the time.
Mistakes will be made — by you and by others. Make allowances and learn from them. Similarly, never worry about competition; the only way to be the best is to up your own game.
If you are resourceful and innovative, your business is likely to have greater sales, better employees and considerable profits. To succeed, try out new technologies and welcome changes; for example, create a website or a dedicated account on social media to showcase your products or services, or adopt new modes of payment. However, if you worry, are rigid in your views and are distrustful of others, you will delegate less and cannot take advantage of opportunities for change and growth.
If you feel you cannot change easily, do an honest self-appraisal and choose a team that magnifies your strengths and offsets your weaknesses.
To answer my question, X will certainly succeed. So will Y and Z, but only if they are ready for self-analysis and remedial measures.
HB Hot Rods and Hogs was started by Ed Syer in the back of his auto repair shop in Huntington Beach where Ed was building