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Characteristics of a Successful Small Business Owner in 2013

There is no doubt that an entrepreneur or small business owner/operator must possess a great deal of skill. When we think about the characteristics that are required to become a successful business person, some clichés may come to mind. You have to be a “people person,” you have to charge forward no matter what the circumstances. While these things can certainly still ring true, I think there is a whole new set of characteristics that small business owners really need to possess if they want to be successful.

Here is my list:

1) Perseverance

We all know about the economic woes of our country, and really the world, through the past five to seven years. I highly doubt that anyone who has owned or currently owns a small business could have missed that. I think that the economic crisis has forced small business owners to really buckle down and work hard, really hard, to make a successful business. You can’t be weak in the economic times that we live in. To be able to persevere, even through the hardest times, is a hallmark trait of a successful small business owner in 2013.

2) Social Media Smarts

It’s no secret that social media has pretty much taken over the world. Many, if not most of us, spend our days attached at the hip to devices that connect us instantly to the world around us, via social media. It’s critical for small business owners to know how to use social media effectively and not just on a surface level. Understanding stats, what the value of a social media follower is to your company, and how to market legally and successfully on social media networks are all 100 percent necessary to the success of any small business. Otherwise you may be destroying your social media credibility.

3) Flexibility

Small business owners absolutely must be flexible. Sometimes, renting office space and buying office equipment isn’t feasible, so you have to make do with what you have. You hired a web designer and you don’t love what they came up with. Time to figure out how to tweak your site to make it what you really want. Situations like this will arise every day when you own a small business. Many small business owners also have other parts of their lives tugging them in different directions; some may have other jobs or be stay at home moms who have kids to watch while they work. Being flexible is a key characteristic of a modern small business owner.

4) Being Aware

The world around us is changing so incredibly quickly. It’s so important for small business owners to keep abreast of any new developments, laws, or regulation changes in their industry. The excuse “but I didn’t know” is not a valid one. As a small business owner, it’s up to you to pay attention and dedicate time to finding out what’s new and different in your industry. No one is going to do it for you, that’s for sure!

These are just some of the characteristics I think it takes to drive successful entrepreneurship. Feel free to share what characteristics you think a small business owner should possess in the comments!

Published: June 7, 2013
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Megan Totka

Megan Totka is the Chief Editor for ChamberofCommerce.com. ChamberofCommerce.com helps small businesses grow their business on the web and facilitates connectivity between local businesses and more than 7,000 Chambers of Commerce worldwide. She specializes on the topic of small business tips and resources and business news. Megan has several years of experience on the topics of small business marketing, copywriting, SEO, online conversions and social media. Megan spends much of her time establishing new relationships for ChamberofCommerce.com, publishing weekly newsletters educating small business on the importance of web presence, and contributing to a number of publications on the web. Megan can be reached at megan@chamberofcommerce.com.