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7 Qualities Every Successful Businessman Needs

Today we will discuss the most common qualities required for a businessman to be successful.

In list of successful businessmen we have many people starting from Birla, Tata, Ambani, and Mittal, but do we really know what quality makes them so successful?  We are herewith 7 common qualities of a successful businessman these qualities are being driven by careful research and analysis.

successful businessman

7 Qualities for Successful Businessman

#1 Passion for Excellence:-

Passion for excellence this is an inherent quality of successful people, we don’t know if someone can teach this quality.  But we are sure that passion for excellence is one of the qualities which make businessman successful.

The passion for excellence means whatever work you do small or big you must strive for excellence, starting from the way you write or the way you sign there should be a touch of excellence.

This thing is rightly explained in the Hindi movie “3 Idiots” Don’t run behind success, try to achieve excellence, success will come looking for you.

Example:-

“One artist was making one sculpture &  he was giving the finishing touch to that sculpture’s eyes at the same time another artist told him that the sculpture was already looking magnificent and please come down don’t waste your time.

The answer given by the artist was that sculpture may look magnificent but I know that the eyes of sculpture require a finishing touch and without completing it I will not come, whatever sculpture I make must be perfect in every sense. In the end, I should be able to give a pat on my back that excellent work was done.

If we develop the same approach in whatever work we do we will be defiantly become successful.

#2 Ability to develop Team:-

Only having a passion for excellence will not give you the success you need to have a team of people with this quality. Team means “Together everyone achieves more” Successful people always work in a team and they can develop a team.

Example:-

Every grand slam has come to defeat the team of Mahesh Bhupathi and Leander Paes but they were not able to do that as Mahesh Bhupathi and Leander Paes were playing as a team.

At a later stage, both of them have egos involved with each other and they decide to separate now that they play individually and anyone can defeat them.

Moral you need a team to be successful in business & you should be capable of developing a team.

#3 Master in Communication:-

In order to develop a team you should be a master in communication because whatever ideas you have in you’re mind you should be able to transform your idea into your team.

 Example:-

Mahatma Gandhi as a leader was successful because he was a master in communication his communication was used to influence the masses in India to get Independence.

The second example is a leader like Manmohan Singh cannot win an election alone as he is not a good communicator he needs a spokesperson like Sonia Gandhi to win the election.

The third example is Sachin Tendulkar, Sachin failed as captain of the Indian cricket team because he is not a good communicator, while Dhoni was successful because he was a good communicator and able to manage the team.

Today everything works on communication better you have in communication and presentation skills, your chance of becoming successful is higher.

#4 High Energy level:-

Successful people maintain high energy levels. They start their day with the same energy level and exhibit the same energy level at the end of the day. They always surprise you with their energy level, nothing tires them.

Example:-

Chairman of L&T Mr. A M Naik is a person who exhibits a high energy level. For the first 21 years of his career, he never took leave – not even a weekly day off. That shows his energy level and dedication.

As their body and mind function at high energy levels, they are able to study more and work more. This increases their chance to become successful.

#5 Value-based decision-making:-

The hallmark of leadership is value-based decision-making. You have to be consistent in making the right decision.

Your decision should not be mood-based it should be value-based. You should arrive at a fair decision considering all facts and figures in mind.

If your decision is mood-based people try to manipulate you for their benefit.

So it is very important for you to be a value-based decision maker if you want to be a successful businessman.

#6 Methodology:-

Methodology is another important quality required for success. What is your methodology it is nice to have a goal it is nice to have ambition & big thinking that you are going to do this or do that but how? What is the method you adopt?

Example:-

Dying cricket was revived with a methodology called T20. Its methodology is the same game but with some innovation and creativity brought in.

Cinema was dying but multiplex is an innovation or a method to revive the same. Provision stores is now an old concept new methods now adopted are big shopping malls or online shopping.

Door delivery is another example Pizza Hut uses to deliver pizza in fix time. This is the method to increase sales.

Design & Innovation is Steve Jobs’s Methodology. Style Rajnikant’s methodology, exploration Kamal Hasan’s methodology, dance Hrithik Roshan’s methodology, Entertainment in a sport which is boring Lalit Modi’s methodology, what is your methodology? Keep Thinking keep innovating.

So methodology is another skill required for a successful businessman.

#7 Eternal Faith

Another common quality is all successful businessmen have faith, Faith in god, faith in the system, and faith in the principal.

All of them have faith in what they are doing. They always carry self-belief. A question was asked to industrialist Dhirubhai Ambani about the secret of his success  many people thought that Dhirubhai would talk about engineering or reverse engineering but surprisingly answer was “I am successful because I have my mother’s blessing with me.” So, the mother’s blessing was faith for Dhirubhai Ambani to be successful. Try to find out what is your faith.

Believe me, if you develop the above seven common qualities among you, you will definitely aspire to become a successful businessman.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money.