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7 Skills of Successful Businessman

Many people used to think that business is some kind of talent that every successful man must be gifted to have. I personally think that some people are really gifted when it comes to managing money while others do not have an innate ability to grow money. However, managing money is also a skill that one can learn and with consistent practice and years of experience, this skill can be something as natural to you as well. So here are 7 skills of successful businessman that you might already possess or may want to learn acquiring.

1. Adaptable. Being adaptable is a quality and skill that every successful businessman has. They do not easily get shocked or panic when the problem arises. They manage to keep calm while resolving certain problems and because of this skill that they have, it’s easy for them to think clearly when sudden challenges in the business occur.   

2. Strong Connections. A good businessman is completely aware of his circles and take care of them like assets. A good network is a strong support to any business that you may have. Some businessmen though don’t really aim to have more friends. They could go for few friends as long as they know that these people are trustworthy. However, a very good skill in profiling people attributes to network expansion thus, it helps so much in building strong connection.  

3. Discipline. This is also one important skill that good businessmen naturally have. They have a very good discipline in managing money, managing their people, discipline in tracking their goals and discipline to separate leisure and work. Without a strong sense of discipline, it is impossible for the business to prosper and run for a long time.

4. Good motivator. Being an effective motivator doesn’t only mean motivating and handling your workforce but also having the ability to motivate yourself. Most of the good motivator I know can motivate others easily while find difficulty in motivating themselves. As a business owner, you are a leader whom your employees look up to. It takes extra effort to convince or influence people to be something you are not. You have to make yourself motivated first before you effectively motivate your employees.

5. Laser-like focus. Having a laser-like focus means everything you do are towards your goals and count the rest of activities as distraction. One of my favorite motivators once said that you can’t watch tv and be rich at the same time. You just have to choose one. It’s true because what draws your attention basically occupies your thoughts and what occupies your thoughts attract your reality. Human beings are all powerful that they can almost bring about whatever they keep their focus on.  It could be poverty or wealth. But sadly, majority choose the latter.

6. Reducing Risks. This is also one skill that a good businessman seems to master of; and that is the art of reducing risks. Many people think that the wealthiest are the bravest when it comes to taking risks and investing. In the contrary, these successful businessmen know exactly what will happen when their investment has failed. They also calculated the odds and looked at the probabilities carefully before investing into something. They don’t decide overnight and they have figured how to reduce the risks even before signing their major investment. This is one skill that is hard to acquire or practice. It needs a lot of analysis and knowledge on the business product or service before you will be able to come up with a reducing risk plan.

7. Creating a Back Up Plan. The ability of creating a good back up plan is one good skill not everyone has. Business is not something a hundred percent successful guaranteed. Some business fails and creating a back up plan is genius. Even the most successful businesses do not last for ten years, unless of course it is a corporation. Some businesses last for five years, then they change everything, relaunch and start again. It’s good if you have a back up plan. You have to know the best time to exit. It’s either you continue dumping money into a hopeless business or try something new instead. The most successful people in the business world are the ones who had a couple of business failures who chose to cut their losses and start anew. -M.D.



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