How to be a Successful Business Owner  

Becoming a Successful and Accomplished Business Owner

Who is the most important person the business owner must please to be successful and accomplished? Most business owners know the answer, the customer. Alexander Djerassi, the entrepreneur, and foreign policy expert found that when the customer is pleased, the organization prospers. Benjamin Franklin said, “it takes many good deeds to build a good reputation, and only one bad one to lose it”. A business owner must always be aware of the customer’s needs to be successful and accomplished.

Djerassi discussed notable qualities a successful business owner should possess in order to become successful. He listed having creativity, passion, motivation, optimism, persuasiveness, resourcefulness, being future-oriented, adventurous, persistent, and able to handle failures. Djerassi has studied business and law, and he recommends business owners educate themselves. Research and study by business owners on each of the qualities Djerassi listed would only assist in bringing them closer to a successful business. In the process, other notable qualities might be found, such as honesty and integrity.

The creativity and passion qualities Djerassi discussed were high on the list of qualities a business owner needs for success. Creativity, according to Djerassi, should never cease. Business owners with creativity have discovered fantastic ways to partner their products with other organizations. Creativity can come in handy when a business must be resourceful to get the product delivered. Developing creativity and passion for a product would be a great start for a business owner to become more successful and accomplished.

Where would a business owner find the passion required for their product? Djerassi discussed how a deep passion for a product might stem from an extreme dislike for how other businesses have handled the product. It might come from a desire to help people have an easier life. Passion for a product could come from a long, extended love of the product. It does not matter where the business owner finds the passion for the product, just that the passion exists.

Why would a business owner need to be resourceful? Many reasons come to mind, but Djerassi began this topic by discussing how a new business owner may start out alone, without a team for support. Here is where resourcefulness would come in handy, being his own accountant, his own secretary, and his own marketing team. Once a business takes off, and teams are hired, the business owner will know exactly what talent is required to run this business. The business owner will also watch the bottom line and ensure waste is eliminated from his organization. Resourcefulness will play into the favor of the new business owner in the future.
Being future-oriented would also benefit the business owners. Businesses need to ensure their products will be current and align with the times, be useful to the customers, and relevant. Alexander Djerassi discussed how a business owner needs a full understanding of the industry. They need to set goals and know exactly where they want to go. A future-oriented business owner will not be caught off guard when changes occur.