Succeeding in business in a global world is largely dependent on the business owner. Markets rise and fall, products and services will surge and ebb in popularity, but the way that a business is run, the approach to planning and structuring that a business entrepreneur takes along the way, and the unique characteristics that a business owner brings to the table, these are the elements that will determine how successful a business will be.
These characteristics of success will exist in a business owner to varying degrees and in a wide variety of combinations. There are some characteristics, however, that are necessary and consistently seen across the board.
Top characteristics of successful business owners
Building a business from the ground up or stepping into an established business in need of rejuvenation may mean that difficult decisions will have to be made about where the business is going and how it will get there. A successful business owner will not necessarily find these choices easy ones to make, but the ability to see the big picture for the business and its employees, while also focusing in on the details, will ensure that these choices are effective and the outcome successful for the company.
Business owners who function in this global economy need to be capable of making fearless and decisive choices for their company, all while maintaining a balanced perspective. They need the flexibility to see alternative views and paths for the company, as well as the determination to hold the line when they believe a particular choice is right for the company, no matter what.
Successful business owners are self-possessed, have excellent communication skills and have the ability to sell on multiple levels, whether it is their vision for the company or the products and services offered. Above all, successful business owners have a will to succeed that cannot be quenched.
Difficult times occur for any business and how a business owner deals with these situations can determine their long-term success. Resilience is a vital characteristic of a successful business owner; learning from the mistakes of the past and moving forward with fresh determination to succeed and conquer obstacles is not only the mark of a good business owner, but also of strong personal character.
Success story: Francesco Corallo
One businessman who understands the importance of these characteristics of success is Italian international businessman Francesco Corallo. Through his international company B Plus Giocolegale Ltd., Corallo has become a market leader in the entertainment and gaming industry in Italy and around the world. From placing high-quality machines in shops and gaming halls in Europe and the Americas to embracing online technology and applications to bring the world of gaming to online and mobile users, Corallo’s pursuit of innovation has guided through his career and the accompanying ups and downs.
For Corallo, the key to success for a business comes down to the individuals who are employed there. He advocates a company culture that is relaxed and personal, with an emphasis on encouraging new talent and ensuring that the quality of life for all employees is high.