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?

Strategy

What is your strategy? What is your business about? What are its values? What is it's mission? What is your brand image? How do you define your company? Why do you exist as a company? Are you adding value to the industry you are in? Why should a client or customer come to you and not the other small business down the street? What is your purpose for running this business? And you. Are you a good leader? No strategy can be implemented without a good, appropriate leader and project manager. How are your managerial skills? What is your vision for your company? What are your specific step by step methodology for the implementation of your strategic goals? What is the "DNA" of your mission and strategy? Have you broken down what you are trying to accomplish to its nucleus and have put each component together to visualize a architectural prototype for success? Have you given yourself a time frame to accomplish your objectives? Have you set measurable goals? Do you have an organizational chart? Have you done your research? What role will you play? What will be your business personality? Ally? Provocateur? Apprentice? Boss? Arrogant? Confident? Humble? Cut throat?