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Characteristics of Ideal Business Owner

Characteristics of the Ideal Business Owner

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“Selling is all about problem solving! We must have the ability to sell ideas.”
The Money Explosion. George “MAC” McArdle.

Are You The Ideal Business Owner?

In the new world of Social Media and AI, the following list is interesting especially when we are told that today’s younger generation has a difficult time looking at the person they are interviewing with for a job.

Do those who aspire to entrepreneurship still require these skills? What other skills are needed?

This document was created by the University of Delaware Business Department and provided for a discussion on entrepreneurship by the University of Delaware Small Business Forum held in 1994.

Characteristics of Ideal Business Owner

(University of Delaware Small Business Forum -1994)

Obviously no one is perfect, but if you really ‘have what it takes‘ to be a successful business person, you will probably find that you possess many of capabilities on the list.

Good sales skills.

A thorough understanding of the business and its products or services.

Experience in the business.

Experience in sales, finance, management and marketing.

Good health.

Can sell anything to anybody.

Intelligence, creativity and resourcefulness.

Good communications skills – both written and oral.

Good math skills.

The ability to sell freezers to Eskimos.

Gets along with a broad range of people, old friends and stranger alike.

A born leader, and has some practical experience.

Able to work long hours without getting tired or discouraged.

Able to make reasoned, thoughtful decisions and follow through on them.

Accepts responsible.

Really loves to sell.

Learns from mistakes.

Could sell life insurance to dead people.

Is willing to take risks – but makes sure the odds are in the business’s favor first.

A self-starter, sticks to a project until it is completed.

Was the boy or girl in school to always sell more magazines, cookies or candy than anyone else.

Competitive but not obnoxious about it.

Patient, and can deal with frustration.

Honest, can be trusted.

Really, really loves what he or she does.

If it seems like sales skills appear on every other line, there is a good reason for it. To be successful in business, you have to have a product or service that people want and will pay money for. That’s the easy part. Next, you’ve got to be able to sell it. If you’re not good at sales or you really hate to sell, turn back now before it’s too late.” Thanks to UD.

Selling Skills

The emphasis on selling skills is really interesting and important. We don’t only have to sell products or services; we must have the ability to sell our ideas.

Selling is all about problem solving!

A good sales person understands how to ask questions and build rapport to discern the customer’s real problems, how motivated they are to solve them including if they have the budget to do so and whether the salesperson has a true solution.

The Money Explosion*

Whenever an honest salesperson sells a good product/service with solving the customer’s problem foremost in mind, a money explosion is created.

The customer benefits by having their problem solved or needs met and their employees benefit.

The sales person makes money, their company makes money, the company’s employees and suppliers make money, and the suppliers employees make money.

An actual money explosion takes place! Selling is problem solving and is a skill worth learning.

How will individuals, young or not so young, learn these skills specially? How have you learned them? How would you advise young people?

*Excerpt of “The Money Explosion” by George “MAC” McArdle

Photo Attribution: Young businessman discussing a document with his colleagues in the office by Jacob Lund Photography from Noun Project (CC BY-NC-ND 2.0)

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