Leadership traits that keep the business going

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For entrepreneurs to achieve success, they need to understand, learn, apply, and improve the following leadership traits, which should be applied to the management of their business and teams they supervise:

Confidence: Self-belief is as important as any characteristic in the business world, especially when working with a team. By trusting personal abilities and those of individual members of the team, leaders can boost team and company morale.

Persistence: Not giving up following setbacks or failures has helped the most iconic entrepreneurs, such as Bill Gates and Steve Jobs.

Creative thinking: Problems naturally occur but great leaders see them as opportunities to succeed through learning. Identifying root causes and formulating and implementing creative solutions should be welcome challenges.

Calculated risk-taking: Risks are inextricable from business expansion. Successful leaders understand, without being reckless, how to evaluate the most profitable risks to take and how to follow through on that opportunity.

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Team building mindset: While most entrepreneurs establish their business on their own or with a small group of people, expanding it will entail building, supporting, and effectively managing teams.

Initiative: To become effective and efficient in handling the business, a leader needs to be self-motivated and have the desire to better himself, learn new skills and knowledge, and generally perform well.

Enthusiasm: Maintaining a high level of energy and enthusiasm allows leaders to brush off the pitfalls of doing business, and to encourage their followers to keep a positive attitude, too.

Goal-oriented: Successful entrepreneurs view the bigger picture and come up with strategies to reach realistic and well-defined goals and objectives.

Dr. Joe Johnson, founder of Welfont and GoodField Foundation, is a seasoned entrepreneur who spends equal time on his business endeavors and philanthropic causes. He holds a Ph.D. in entrepreneurial leadership and authored the book, “The Science of Why Most Entrepreneurs Fail and Some Succeed.” Follow this Facebook page for more discussions on leadership and entrepreneurship.