What are the characteristics of a successful business owner? This is the million dollar question that if we could know we could replicate and sell. The truth is that we need to access each person within the frame work of their specific business and the environment that they work in. A person may prove successful in Cape Town but fail in Sydney, not because they have changed but the rules of engagement differ in different locations. There are some issues that need to be considered that are constant across all platforms and businesses that an Entrepreneur needs to practise or improve on:

Determination – The one factor that separates sustainable business owners from garage entrepreneurs is perseverance. The determination to keep going and going, when all odds are against you but you believe that you are right, keep going. Vinny Lingham from Yola got funding from his 25^th pitch, what would have happened if he gave up at number 24?

Creative problem solving – When faced with a problem a good business owner sees this as an opportunity to design and implement a solution. A poor business manager will look for someone to blame and hold meetings to determine a process of discipline. I understand the need to correction but how much time and energy is wasted each month on company witch hunts and back stabbing in order to protect positions and jobs.

Risk mitigation – You will be required to look ahead with wisdom and identify both the foreseen and unforeseen risks and then be able to set in motion plans to reduce the impact of possible derailing issues. Risks that are identified require creative actions on a daily basis to keep the business on course.

Team Development – This is the ability to understand self in terms of strengths and weaknesses and develop a team around these in order to build balance and continuity that will cover all aspects of what is required. A well balanced team works together filling in the gaps as they arise with no indication of abuse of power or taking advantage of others.

Process thinking – You will need to understand and be able to think in the form of linear tasks with dependencies and outcomes with deliverables and accountability. This may sound like the opposite of the creative thinker but it is as essential. Knowing what need to be done in what order by whom, to get to a predesigned outcome allows for mental processes that will lead to the development of the businesses Standard Operating Procedures. (SOP)

Do you think you have what it takes to make the move from employee to business owner? Consider the risk and cost then change your life forever. It could become the beginning of a new adventure.