What Does It Take To Be A Success In Business?

by Sharon Michaels (Read about her here.)

(Listen to it here.)

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Financier, entrepreneur, educator and founder of Babson College, Roger Ward Babson said:

Experience has taught me that there is one chief reason why some people succeed and others fail. The difference is not one of knowing, but one of doing. The successful (wo)man is not so superior in ability as in action. So far as success can be reduced to a formula, it consists of this: doing what you know you should do.

American Heritage Dictionary defines an entrepreneur as: A person who organizes, operates, and assumes the risk for a business venture.

Between 1997 and 2006 women-owned businesses grew at nearly twice the rate of all U.S. firms. If you currently own your business or are thinking of starting a business, you may be wondering, What exactly does it take to be a successful entrepreneur?

The United States Department of Labor has something it calls the “Entrepreneurial Quotient.” It lists common characteristics that successful entrepreneurs share in common.

1. Self-discipline

2. Motivation

3. Internal locus of control

4. Comfort with risk

5. Ability to handle stress

6. Money management skills

7. Organizational skills

8. Sense of humor

9. Financial goals

10. Personal support network

As you can see, many of these traits and characteristics are fully under your control. Others, you can delegate to experienced professionals.

Looking at the “Entrepreneurial Quotient,” a successful business owner’s mindset emerges. Let’s look at the traits that are internal—the ones over which only you have control. The ones you cannot delegate.

1. Self discipline. To paraphrase the above quotation, this means doing what you know you should do when it should be done.

2. Motivation. Your compelling “why” for wanting to succeed and thrive is a powerful inner motivator. It’s this motivation that keeps you going when the going gets tough.

3. Internal locus of control. This is a psychological term relating to a person’s belief that they are responsible for their own actions—and for the positive or negative results of their actions.

4. Comfort with risk. Entrepreneurs realize and emotionally accept that risk is a part of being in business. There are many variables over which we have very little or no control—the economy, the weather, the political situation, etc.

5. Ability to handle stress. The ability to handle stress in positive, productive and healthy ways can often make the difference between a business owner who is thriving and one who gives up before pay day.

6. Sense of humor. The ability to laugh, especially at yourself, is a powerful success trait. Happy, healthy and well-balanced entrepreneurs enjoy being in business for themselves.

So, it turns out that of the ten traits and characteristics of the “Entrepreneurial Quotient,” six are more personal than professional. A very interesting internal mindset for success! Take a minute to read the quotation by Roger W. Babson again. It’s a fairly good definition of a successful entrepreneur, wouldn’t you agree?

Listen to today’s podcast here.

Be sure to visit our site, WomensMedia to get Expert Advice for Business Women.

On our website, WomensMedia you should read this: Ten Success Strategies for Women Entrepreneurs or The Power of Accountability

For quick updates for Business Women you should follow NancyFClark on twitter here, or SharonMichaels here.

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Tags: business,, women,, success

For Business Women: Does your Posture Communicate Confidence?

By Stacey Hanke (Read about her here.)

(Listen to it here.)

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Do you walk into a room like you belong there? Does your posture communicate confidence—or uncertainty?

Last week I attended a conference and was observing individuals as they walked into the room. The individuals who caught my attention walked into the room as if they were saying, “I’d rather be having a root canal than entering this room.” Their posture conveyed a lack of confidence and credibility. Not only did they walk with hesitation, but their seated posture communicated uncertainty.

If only we could see what others see when we enter a room, sit in a meeting, or participate in a face-to-face conversation. If you want to be taken more seriously and have more impact and influence, a powerful place to begin is with your standing and seated posture.

The challenge with communication behavior is that there is no right or wrong. Throughout this year’s podcasts, I’ll give recommendations on what I’ve found are the most effective ways to communicate with impact and influence.

Posture is a Confidence Skill
Since posture is a confidence skill, begin by improving how you carry yourself.

If you are somewhere where you can stand while you read this (or listen to the podcast), please stand up now. Try this posture: Distribute your weight evenly on both feet with toes forward and legs hip-width apart. Relax your arms at your sides to avoid fidgeting with your rings, fingers, notes, etc., which may distract your listeners.

How do you feel? You’re probably feeling uncomfortable if this is not how you normally stand. Therefore, you’re tempted to go back to your previous posture. However, remember that changing communication behaviors is not about comfort—it’s about effectiveness.

This posture is called the “neutral stance” or “home base.” You don’t need to stand in the neutral stance at all times. Instead, when you complete a gesture or movement, come back to your home base.

At some point during your talk or conversation, you need to be quiet and still by relaxing your arms at your sides in home base. When you are fidgeting, rocking back and forth, or pacing, your mind can’t work effectively, which prevents you from thinking on your feet. You are trying to do too much at one time. As a result, you may lose your train of thought and not be as effective as you could be.

You also need to be quiet and still for your listener. When your posture becomes a distraction, listeners will focus on what you are doing rather than what you are communicating. Returning to home base gives you time to think on your feet..

The neutral stance also applies when you are seated. Give this a try:

Uncross your legs and place your feet flat on the floor. When you slouch or cross your legs, it’s more difficult to breathe from your diaphragm, which negatively impacts your voice.

If you are seated at a desk or table, keep your gestures above the table to add emphasis to your words. When you gesture underneath the table, your listeners may wonder, “What is she doing under there?”

When you’ve completed a gesture, relax your arms on top of the table. If you are seated without a table, relax your arms in your lap or on the arms of the chair.

Most importantly, avoid fidgeting with your pen, fingers, rings, etc.

Where should you sit?

When possible, avoid sitting directly across from your listener. The table, desk or podium becomes a barrier between you and your listeners. Instead sit next to your listener, creating an open posture to enhance the relationship.

If you’re facilitating a meeting with a group seated at a conference table, sit at the head of the table. This position makes it easier to connect and increases listener participation.

Practice the neutral stance whenever you are standing or sitting, talking to co-workers, friends or family members.

Business Women’s Tip of the Week:

Twice a day for a week, pay attention to what your posture communicates. If you begin to fidget or slouch, move to the neutral position. Begin creating new habits.

Be sure to visit our site, WomensMedia to get Expert Advice for Business Women.

For quick updates for Business Women you should follow NancyFClark on twitter here, or StaceyHanke here.

Sign up for the WomensMedia Newsletter.  We make it easy!
On our website, WomensMedia you should read this: Table-Talking Your Way to Networking, or this: 8 Tips for Fearless Communication in the Workplace .

It may help to listen to Gender Communication with Authority And Care —A Business Woman Can Be Careful Without Losing Her Authority
or read it here.