Factors and Traits of Money-making Men

In a post on this blog, we discussed Find the Determination to Make Money this post will take you through the traits and factors that make a businessman a successful business man. There is an argument about entrepreneurs and businessmen that has often elicited arguments among intellectuals, economists, politicians and even business men. The main reason for this argument is to state if entrepreneurs are born and not made. 

Although most people believe businessmen are made and not born, others disagree. No one is really born to be rich or poor, however, destiny throws people into families on different parts of the social ladder, but this doesn’t mean anything. When one discovers he is born into a poor family, he has to work twice as hard as the man born into the rich family. But sometimes, the people born into poor families are lazier than those born into wealthy families.

The focus of this article will be on the traits and factors that make up a money-making man regardless of one’s family background and challenges. It is no doubt that rich people tend to have more opportunities than the poor, and because of the social injustice and corruption that exists in human societies, poor people are often denied their chances of attaining their goals through different ways of oppression. But even with all these unequal opportunities, some poor men still end up on top of the social ladder.

If a man is determined to succeed, his path to success is largely unstoppable. Even if one doesn’t have these so-called inherited entrepreneurial traits, one can acquire them through socialization. So, this post will take you through the traits that necessitate one’s success in a business.

The Traits and Factors are:

1.       Interest: For one to be successful in his business venture and career, one must have interest in the chosen area and business. One tends to be more successful and persistent if one has interest in one’s area of work and business. If there is interest in a work and business, there would be little or no failure.

2.     

 Self-Confidence: Self-confidence is required as part of the traits that helps money-making men make money in their businesses. Without the believe in oneself and lack of self-confidence, there would be no business in the first place. It is this self-confidence that comes in to rebuild a failing business, and it also helps businesses beat off the stiff competition in the market place.

3.       

Creative and Innovative: One must possess this to be a good money-maker. A businessman without creativity and innovation is doomed; this is because there is stiff competition in the market place. Companies and businesses that do not change and grow with time are abandoned and forgotten by its customers.

4.     

 Flexibility: Money-makers, especially the new ones should try to adapt to changes, because this world is a dynamic one. They should not be stubborn and deaf to all suggestions from experienced people and experts. When one is flexible with his decision, there are more chances of that business succeeding.

5.       

Economical: The reason why people read economics is to master all about scarce resources, demand and supply, opportunity cost and so on. The main reason is to enable one manage the little resources one have. So, a good money-maker shouldn’t be too stingy when it comes to business, but he shouldn’t be a spendthrift. The scarce resources should be highly utilized.

6.     

 Risk Bearer: This is also important. Business and entrepreneurship has to do with risk, because one can invest a large sum of money and the business might fail. One should get ready for negative outcome as well as the positive when one ventures into a business or career. One can solve the problem of this risk and cushion the effect in case it fails by not borrowing to start the business.

7.       

Persistency: Sometimes, things do not work out as planned. There have been cases of businesses which had witnessed failure, yet these businesses were still able to come back to the market. Sometimes also, the business growth might be stagnant; one shouldn’t give up. If one is persistent and strives to achieve his goals and dreams, he will surely succeed.

8.       

Hard Work: Hard work is also the key to successful entrepreneurship. Every culture extols hard work and condemns laziness. With hard work, persistency and self-confidence one is sure to succeed.

There are other traits which cannot really be explained here like charismatic trait, independent minded, focus, courage and so on. Money-makers are made, they are not made. If you have a failing business or failed one, do not give up. Pick up that your tired and confused self and conquer the world. Remember it is he who smiles last, smiles best.

Chinwe O'Brien is a writer and a blogger. He is currently doing a degree program in English and Literature. He blogs at http://www.bettertimes.tk  He wishes to make the world a better place for all.

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