Patience

If patience is a virtue, impatience is a vice.

The small business owner is probably someone whose personality is already formed. He or she would describe themselves as either "I am a patient person," or, "I am very impatient."

The former is more likely to reach success than the latter. Why? Because starting, growing and sustaining a business is hard work and takes diligence, focus, drive and nerves of steel. It is not for the person who wants quick fixes and quick riches.

Achieving success in your small business is hard. It takes time to reach a breakthrough. There is a bestselling book on the market right now, From Good to Great by Jim Collins that talks about how certain personality types are more inclined to lead companies to greatness. He never comes right out and uses the word "Patience." But if you think about what he is saying, he's saying that the way companies go from "good to great" is they are lead there by CEO's who are, among other things, patient; these men (he only identified men in these positions) by making adjustments, changes and innovations, finally reached a breakthrough that changed the direction, scope and reputation of their companies.

As a small business owner, it is a critical trait - Patience. A small business owner needs stick-to-it-ness, grit, determination. The one thing Collins says in his book that is interesting is that these companies did not go from good to great by making big, loud splashes and calling a lot of attention to themselves. They did it quietly, and patiently.

Donald Trump seems to be a very patient man. Sure, he runs the Trump Organization. That is not a small business. But the scale of his business is not the point. He has revealed in some of his books that he is a very patient man. He has waited years sometimes in order to purchase a piece of real estate for the right price and under the right terms. If he was rash and impatient, it could have cost him not just his reputation, but probably a few of his billions.

Are you patient? Or impatient?