5 Qualities of Successful Small Businesses

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What are the most important qualities for small buinesses?

1. Produce Results.

In your small business or practice, it's results that matter more than anything else. According to business consultant Nancy McKinstry, CEO of Wolters Kluwer, a consulting firm based in Holland, no matter how much clients or customers like you and trust your capabilities, you must demonstrate that you can produce the order, treat the ailment or put on the show.

2. Determine Your Direction.

The second thing you must have to thrive in business is direction. Set a direction for your business from the outset, create a plan, and get engaged in it. In a sense, what your business is, is who you are, so invest yourself fully and revel in the experience.

3. Develop Perseverance.

Ms. McKinstry also says that, because perseverance is so important, if you can find your way around or through the obstacles you encounter along the way, and keep moving ahead, that's just the quality you need for success.

4. Overcome Adversity.

Nobody drives straight forward all the time -- in setting up any business you’re going to be confronted with challenges. To persist when things go wrong is vital to your ability to survive and grow. What do you learn from adversity and setbacks? You find, McKinsky points out, that you're able to fall down, dust yourself off, and keep moving forward the next day.

5. Become a Problem-Solver.

Are you a good problem solver? Because starting your own business is like inviting a new set of problems into your life. But if you have -- or can learn -- a problem solver's mentality, you have a shot at reaching any level you aim for.

These are not necessarily qualities you have to have before you begin a business, but to consciously set out to master them is one of the best ways to keep yourself from becoming discouraged and giving up when the going gets tough.