Earl Chua

I’ve come up with a list of traits and qualities that I feel are essential to build upon in order to ensure that you reach your maximum potential in business. I obviously do not have all of these qualities, but am using this as a goal to help myself improve.

1. Become Opportunity Aware:

Ever think to yourself, “There’s got to be a better way!” Or, “If only there were some kind of business that would help me with my problem, I would for sure use their service!” There are hundreds of thousands of opportunities out there waiting for you, the only problem is figuring out what works best for you and which one do you see yourself enjoying.

2. Take Risks:

No business is risk free and the sooner you realize that, the sooner you will be able to take the next step. The easier it is for you to assess risk, the more potential you will have for success. You’ll be able to make intelligent and bolder decisions without fear getting in the way.

3. Do Your Research:

Research the market; start up costs, potential customers, trends, etc. If you get into any kind of business without doing extensive research first, maybe you are a little too much of a risk taker. Know what you’re getting yourself into first.

4. Become Self-Motivated:

When you start your business, you have no one pushing you, no one telling you what to do, and it’s hard to stay on track. It’s essential that you keep yourself focused and motivated. If you are someone that loses motivation easily, gets easily discouraged, and constantly needs somebody to tell you what to do and keep you in track… maybe you need a boss.

5. Be Determined:

You’re going to encounter a lot of doubters and haters when you first start out. If you truly believe in your idea then go for it. If every person listened to every hater then what would this world be? You also have to understand that starting a business has its ups and downs. You have to be prepared to not make any money for the first couple of months. That’s why it is really important to have a strong will and to be determined.

6. You Must Avoid Procrastination:

If you’re a seasoned procrastinator like myself, then you’re going to have a hard time staying on track and staying motivated. The sooner you complete your task the more productive you will become, which in turn will make you more motivated. Don’t start something else or something new until you complete all you can with the current task.

7. Be Creative:

In business, being creative and standing out gives you the edge needed to set yourself apart from your competition. When you have a handful of businesses offering the exact same service, the one who stands out the most will be the one with the most customers.

8. Learn to Easily Adapt to Change:

The business world, as well as everything else in life, is in constant fluctuation. You should learn to be able to adapt to change quickly, without modifying your main goal or mission. You might be forced to change the way you do things to adapt to changes in the market, but adapting to change is a positive for you and your business. You should read the book, Who Moved My Cheese?

9. Continue to Learn:

Learning is an ongoing process that we go through our entire life. In business, you will learn things not only about the business, but about yourself as well. Just be sure to apply what you learn.

10. Focus on the Business:

Focus on how you can make your business better. How can you improve your service? How can you make the customer happier? Asking yourself questions like this helps you put yourself in your customer’s shoes and helps with creativity.

11. Learn to Welcome Responsibility:

Learn to understand that you are responsible for everything and anything about the business. When you welcome your responsibilities, you gain confidence in yourself and you become a stronger person.

12. Learn How to Market:

You can have the most awesome product, or have the best service ever…without marketing, you won’t have any customers. Marketing is the lifeline of a business and as a business owner, it is key that you develop skills in marketing.

13. Keep Good Books:

Bookkeeping is crucial! Numbers and business go hand in hand. If you don’t know what kind of numbers you’re bringing in, you don’t know what’s going on. You don’t know how much money you’re spending, how much you’re making, and how much money you’re losing by not keeping good books.

Bookkeeping is also crucial because it helps you keep track of your progress. How can you improve if you don’t know how you’re doing to begin with?