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Do You Have the Right Stuff
| Guest post by: Rex Beach |
Article Overview: This article explores the key personal qualities - the right stuff - that are necessary (but not alone sufficient) for personal and professional success. These qualities must be complemented by the business essentials that insulate a career, a department, or a business from the repeated shocks of competition and economic reversal. By combining both the individual and business essentials, you can "shockproof" your entrepreneurial endeavors and achieve the greatest likelihood of success in good and bad times.
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Do You Have the Right Stuff
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Do You Have the Right Stuff?
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Can we say that you’ll likely succeed in business if you can create and sustain a competitive advantage?
And can we say that you’ll likely succeed in business if you’re able to hire and retain quality people?
Further, can we say that you’ll likely succeed in business if you can create an internal environment that rewards high performance?
In addition, can we say that you’ll likely succeed in business if you’re tied to your client base and know instantly how to change your product or service to meet shifting market demand?
Therefore, can we say that your personal qualities matter little if you have these management essentials in place?
The answers are yes, yes, yes, yes, and no.
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THE RIGHT STUFF
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Consider for a moment whether you possess the following personal qualities:
* Desire;
* An understanding of the fundamental purpose of a business;
* Vision;
* An understanding of your strengths and weaknesses;
* An ability and willingness to learn quickly from your mistakes;
* Tenacity.
We all have our preferred list of necessary personal qualities, but let’s review this list and see where it leads us.
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DESIRE
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Nothing in business comes easily, as we all know.
Maybe you can create an impressive competitive advantage or hire better people than the competition.
But if you don’t have a burning desire to succeed, you’ll watch your competitive edge slip and your best people drift away.
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PURPOSE OF A BUSINESS
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The fundamental purpose of a business is to solve a specific problem. If you forget that, and focus on making money, forget about success. The competition will solve the problems you fail to recognize.
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VISION
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You must be able to picture a better, cheaper, or faster solution to a specific problem. If you cannot, all your hard work and burning desire will come to naught.
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STRENGTHS AND WEAKNESSES
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If you want to succeed in business, never fool yourself. By whatever means, clearly identify what you do well and what you do poorly. You can hire to your weaknesses, but you need to admit them first.
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LEARNING FROM MISTAKES
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You will make mistakes – likely more mistakes than you ever dreamed possible. Success, however, is closely linked to learning from each mistake.
Blame is not the issue when mistakes occur. Learning is, so you won’t repeat the mistake.
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TENACITY
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Running a business is an exhausting task. You must be tough enough mentally to withstand the inevitable daily challenges and setbacks. And you must be tough enough physically to withstand longer hours than you ever anticipated.
Tenacity is the critical counterpart to desire. One without the other won’t work.
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OBSERVATIONS AND CONCLUSIONS
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So, do you have the right stuff? Only you really know. But think about it carefully. If the right stuff is missing, and can’t be learned or acquired, then business success may be very elusive.
© Rex Beach. All Rights Reserved
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