Entrepreneurial Traits That Will Keep Your Business Afloat

 

When you felt the need to start a career as an entrepreneur, what were your initial thoughts about it? Aside from realizing that it could be a rough journey towards your goal, there are so many things that you should slowly learn. What could make it easier is if you have these innate Christian traits? I do believe that when you plant good seeds, the blessings that will come to you will be a hundred folds. However, some entrepreneurs may seem to lost track as problems pour in. And when desperation sets in, instead of creating practical solutions, an entrepreneur may end up just giving it all up altogether.

I had a live YouTube interview a month ago. I featured the President of Acquasuisse Parfums, Mr. John Chung. I was surprised at how he rebuilt the family business. He openly admitted that their business was falling apart after he joined after he graduated from College. They reached a certain point wherein they have totally lost everything and almost just gave up. But he, being a new graduate, full of enthusiasm and hope, struggled little by little. Until he was able to restore their mark in the perfume business, with his concept of being the first perfume bar that offers unique semi-automated bottle dispensers. You would easily be encouraged to purchase from them once you see their kiosks in leading malls. Apart from the high-quality imported fragrances, it is amazingly very affordable, whereby they can tap young professionals.

Keeping his faith that all his efforts would be paid off, he had to really make himself work hard to maintain their family legacy. In children who may have been born with a golden spoon, it does not always mean that things will work out smoothly. We know that only a tiny percentage among 2nd generation businesses can survive. Good thing, John has all the traits that an entrepreneur should have. He is slowly seeing the fruit of his hard work. Acquasuisse now has 64 branches all over the Philippines and one recently-opened branch in California, USA.

Five Traits That Every Entrepreneur Should Have

I have mentioned countless times from my previous articles that money is not the answer to success. Although it is a massive part of setting up a business, entrepreneurs should have positive traits to help them sustain their business.

1. Faith. If you have faith in yourself, there is nothing impossible to happen. Always aim for what you think will bring you up, and constantly be reminded that you are likely to succeed when you have good intentions. Also, you must learn to put faith in the people that help you. Therefore, it is necessary to wisely choose the people that will be part of your business.
2. Vision. Let’s say you are the next person in line to take over the business. You should have the same vision as the founders of your business. It is natural that, being a young entrepreneur, you have a different approach to handling the business. However, sharing the same vision can make your plans work out successfully.
3. Perseverance. Some businesses can hit it big in as early as 6 months of operation, while others may take a year. What is the difference between these two instances? Actually, there are a lot of factors why a business could be struggling. One thing is that the business owner himself may not be well-equipped with the knowledge needed for the company that he has put up. You cannot just think of a business and start with it if you are unaware of how your services work or don’t believe in the products you sell. To become among the successful entrepreneurs, you would need to go through a lot of challenges that will become your pillars of strength so that you may be able to achieve your goals. In business, you need to be patient with how things go. Otherwise, you end up frustrated and just close your business after a few months of operation.
4. Sacrifice. Never think that giving up your 9-5 job to become an entrepreneur would mean that you have all the time in the world. Although you literally don’t have to wake up at 5:00 am each day to ensure that you will reach your office by 7:00 am, you can consider yourself just like a doctor on call. You cannot entirely rely on everything from your staff because, being an entrepreneur, you have a massive responsibility for your shoulder. Thus, working for long hours and even on weekends is not impossible to happen. Additionally, it is essential that your family understands you and realize that all your efforts are for them. Just remember to learn how to balance work and family.
5. Service. I get frustrated when I hear people just wanting the money they earn without even thinking about the customer’s welfare. Some businesses would intentionally scam their customers for their own personal gain without realizing that if they provide better service or high-quality products, they can become much more successful because all satisfied customers would only say good things about their business. A successful entrepreneur serves others, most often at significant risk, difficulty, and cost. Profits signify that the entrepreneur has successfully performed others, but the profits only come after the endeavor. Along the way, the entrepreneur may risk income, financial safety for himself and his family, his retirement, his home, and possibly the same of friends and family. Entrepreneurs should work strategically to serve the best to their customers and make their business grow.

According to John, he still needs a lot of work before totally saying that their business is back to how they were. Still, he is full of hope that everything will be where they want their business to be-a a successful brand in the Philippines and hopefully in other countries.

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You may contact Armando “Butz” Bartolome for questions and more information.

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