Small Business Ownership: Do You Have What It Takes?

Small Business
Small Business

For many people, owning their own business is an exciting dream. Of the millions of people who dream of business ownership, though, only a small fraction of people actually see that dream come to life. Small business ownership is a unique way to earn a living, but the benefits are practically endless. Let’s take a look at a few of the qualities required to successfully run your own business. Do you have what it takes?


One of the driving forces behind business ownership is self-confidence. There are going to be plenty of people who try to discourage you along the way. Your self-confidence may be the only thing that stands between you and failure.

Self-confidence is a funny thing, though. There is a great misconception when it comes to confidence. Many people believe that confidence comes from always succeeding. The exact opposite is true, though. Confidence is actually the product of failing, re-evaluating, trying again, and later on succeeding. Confidence is the knowledge that you will eventually succeed even if you fail a few times. If you never get up the guts to try in the first place, then you will never start to build this essential confidence.

Realistic Goals

Another trait of successful business owners is the ability to set realistic goals. Of course, everyone has their set of end game goals, but you need to be able to set realistic day-to-day goals in order to achieve your bigger goals. If you only feel successful when the big goal is met, you will always struggle with success.

Instead of obsessing about bigger goals, make it a point to celebrate all of your little successes. These little successes are the stepping stones leading you to those big dreams.

One good way to help yourself with realistic goals is to create vision boards or goal journals. These can help you document in a tangible way what it is you are hoping to accomplish. Even accomplishing something small like establishing a company name with a free business name generator such as that provided by Namify, can help you with a sense of accomplishment.  When things are visible and tangible, you can evaluate your little successes in a real way.


Success takes patience. Nowhere is this better seen than in small business ownership. Building a business is a lot of hard work over a long period of time. If you get in a hurry, you will be more likely to get frustrated and give up. Set your expectations realistically. You can’t expect to be turning huge profits right out of the gate. I’m sure there are a few stories out there of people who did that, but those are exceptions to the rule. The rule is that success takes time. Have patience. Give yourself time. Celebrate the little successes each day and pretty soon you will see those bigger successes rolling in.

Being a successful business owner takes more than just having a great idea and enough money to invest in that idea. These character traits are the foundations of the true success of small business owners. You can find more resources for business owners such as their free business name generator, at Namify.

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