Experts believe that everyone has what it takes to become a successful business leader if one is interested in a challenge wrought with risk and a high potential for financial and moral rewards. Business icons must be resilient enough to handle challenges. This passion is one amongst many traits that most successful entrepreneurs and financial leaders in India, such as Kumar Mangalam Birla, Mukesh Ambani, and Sanjiv Bajaj, share. So, what are these traits? ‘ ‘Let’s dive deep to know more!
What Makes a Good Business Owner?
Having the right goals is extremely crucial. Tenacity isn’t enough to make someone the best businessman. A business owner is communicating effectively and assembling a team to achieve a common aim that energizes and enables them to work cohesively toward the goal.
Take famous Indian businessman Sanjiv Bajaj, for example. As the Chairman and Managing Director of Bajaj Finserv, he has often relied on achieving synergy in communication and action as well as giving the right people the ownership to innovate. This transpires to the achievement of extraordinary successes. With him being at the helm, , Bajaj Finserv has become one of the leading financial services players in the country by connecting ordinary Indians with tech-based financial freedom.
By demonstrating positive work qualities and confidence and cultivating a team environment that propagates these values, an owner earns respect and confidence from the team. A good business owner has a burning enthusiasm and a curious nature. Ideas and planning are what excite them. Leaders since the gap in the market and consumer needs before everyone else. This intuitiveness, as displayed by Mukesh Ambani while launching Jio to give a billion Indians access to the internet and digital empowerment, is also one of the chief leadership skills for entrepreneurs.
8 specific traits of every successful business icon and top financial leader in India have been identified and are mentioned as below:
1. Confidence: Taking an idea towards execution in a business needs confidence. One has to be bold enough to take the required steps for the company. A confident boss makes the workplace more positive and mentally secure. A sure business owner quickly gains the trust and respect of customers. If you meet a successful business leader, you will notice their extraordinary level of confidence.
2. Focus: There is no doubt that a business owner has to look after many responsibilities, but the best businessman handles everything with focus. Besides this, when the business experiences difficulties, an unbreakable focus is crucial. Best entrepreneurs didn’t lose their focus when they got successful or when the business was suffering. They always think about ”what’s next?’
3. Self-reliance: The ability to take control over everything is what self-reliance is all about. A person can only depend on himself, not on others. Working hard by yourself is another form of self-reliance, and that is very important.
4. Resilience: The capacity to quickly get up despite challenges represent a resilient personality. Problems are inevitable, but to become the best businessman, resilience is paramount while handling problems. A successful business leader is what he is because he is resilient.
5. Accepting change and challenge: The unavoidable truth of business careers is that thousands of challenges arise every time. There is an endless demand for continuous change as well. These two things test the business owner’s quality, and whether he/she is a suitable candidate for success. Accepting the challenge at the right time, changing according to it, and executing of it according to the new terms is what all top financial leaders in India do for success.
6. Visionary and futuristic: Vision is another crucial factor that makes a business owner successful. A sustainable vision where things turn the tables can be seen benefits every business owner. Remember, the basic framework to design a strategy and plan for the company’s success arises from its vision, and it’s also the guiding light during the challenges.
7. Continuous learning: When the growth is so rapid in the industry, the only thing that can keep you ahead of the curve is continuous learning. Anticipating emerging and dying trends quickly allows successful business owners to adapt to them and that is possible only when they are continuously learning and re-learning about the industry.
8. Collaboration: Successful business owners always collaborate with their employees and other industry stalwarts. This enables them better to communicate their ideas and vision to the team, thus enabling everyone to execute it flawlessly. The development of this is through the creation of an excellent and motivating boss-employee relationship. They can follow this collaborative nature towards ensuring better customer relationships as well.
Not all leaders are born with the traits required to become successful. It is indeed possible to inculcate these traits in your entrepreneurship journey and chart your own course as a successful business leader through determination and discipline. Just like there is no limit to the success you can achieve, there is also no limit to the kind of business owner you can become. Choose your principles wisely and stay committed to your end goal. Success is bound to follow suit!