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Are You Up to the Challenge of Owning Your Own Online Business?

Each of us has our own unique set of personality traits. To a large degree, they define who we are. Changing ones personality characteristics is difficult, if not impossible. We are who we are.

These personality traits allow some individuals to thrive and succeed in a particular job or profession better than others. The best policemen, for example, are those who easily convey confidence and authority, and also deal well under the stress of life and death situations. A person with low self-esteem or someone who avoids conflict would not make a good policeman.

Starting and operating a business is no different. Some individuals inherently have the requisite traits while others do not. Simply wanting to run one’s own business is not necessarily the same thing as having the kind of personality that thrives well in that environment. Of course, having the desire is a good first step.

As I go through some of the following traits that make for a successful business owner, ask yourself, “does this sound like me?”

Are you goal oriented and self-motivated? Most successful businesses owners are; they have to be. Their strength comes from within, not from external sources. Having goals is the first start. The critical aspect is having the tenacity to do whatever it takes to reach those goals.

Do you have determination and drive, or are you easily discouraged? The nature of running a small business often leads to setbacks and disappointments. People who are easily discouraged do not last long as entrepreneurs.

Are you willing to work long hours, often longer than those of a “regular” job? Many business owners work 20 hours or more a week longer than someone with the typical 9-5 job. That reality becomes even more complex with an online business since it is open “24/7”. As an online business owner, you can also forget about the phrase, “the weekend”. It is a huge mistake to think your business venture will be easier than your current job.

Are you willing to take risks? As a business owner you are not only investing your own money into the enterprise, you are doing so without knowing how much income you will realize each month, if any. Most of us may not like the idea of a regular 9-5 job working for someone else, but at least there is a paycheck at the end of the week. As a business owner, each time you introduce a new product or spend money on an advertising campaign, you are taking a risk. Running a business is not for the weak of heart.

Do you know your limitations? As the saying goes, the person who is a Jack-of-all-trades is rarely a master of any. The individual who believes they can do it all, or knows it all, rarely succeeds when faced with the reality of running a business. The time commitment alone can be daunting. Outsource when necessary. Knowing your limitations doesn’t mean you lack confidence. It’s called being smart.

Are you willing to explore new ideas? Being set in your ways or unwilling to change is not a conducive trait in the dynamic world of online business. In the online environment, the successful business is the agile business. The market is constantly changing. You need to be flexible enough to adapt accordingly, and to shift your focus with the ebb and flow of consumer demands.

Are you creative and innovative? If you are going to be successful you can’t be satisfied to just be part of the pack. Look for ways to set yourself apart from your competition. Always look for opportunities. Find ways to improve your own business efficiency. Never be satisfied with the status quo. Never.

Are you organized? The absent-minded professor type is usually a very nice person, but he would be terrible at business.

If you meet most of the criteria on this list you have a good shot at being successful. Conversely, if this list doesn’t sound much like you at all, you should probably reconsider the idea of starting your own business.

But it’s in your hands. If you make the decision to pursue an online business then do it 100%. There are no short cuts around hard work and perseverance. Make the commitment. And then get out of your own way and SUCCEED.

About the Author: Ray has a 30+ career in the Computer (IT) field. He has been a Systems Analyst, DB and Network Administrator, Website Project Manager, IT Architect and Director of IT. He has owned several successful business. He is also the author of several books related to technology and business..

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