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5 key characteristics which define the entrepreneurial spirit of successful small businesses!

According to a recent survey of 2000 businesses in the US and UK by Xero, here are the 5 key characteristics which define the entrepreneurial spirit of successful small businesses…

1) It's not all work work work!

They don't work around the clock. They make time to spend with those important to them and to enjoy hobbies.

2) They don't pretend they have all the answers!

Always be learning and if you don't have the answers, it's ok to ask questions. Most even had a mentor who they sought advice from.


3) Spend that money where it counts

They're not afraid to spend money where it counts whether it's to kick off a marketing campaign, get organised with good financial software or invest in a good website. What is the saying? You've got to spend money to make money!

4) Keep your finances in order

Make goals, be accountable and track your finances well. We don't plan to fail, we fail to plan. Have a good financial plan and stick to it.


5) Be brave

The study showed that the successful entrepreneurs were brave and believed in themselves. They were courageous enough to walk away from good jobs and were willing to take a chance. If you have a vision and passion for what you want to do, be brave and be courageous!




Taken from a survey of 2000 business in the US and UK by Xero – xero.com/make-or-break



 

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