Characteristics of Small-Business Owners

The act of breaking away from the masses of the employed to open a small business shows determination. Yet, many other traits of small-business owners, including resiliency, adaptability and confidence, set them up for success as an entrepreneur. According to a study conducted by The Guardian Life Small Business Research Institute, most successful small-business owners share a common set of traits.

Flexible

Striking out to put together a small business takes time, energy and knowledge -- or at least a willingness to learn. During the process of getting a business off the ground and even after, problems and issues tend to appear. Small-business owners are flexible in handling these obstacles and finding workarounds as needed. They don't allow setbacks to stop them from meeting their goals.

Collaborative

Small-business owners know how to effectively delegate tasks to people within their organization. They also know how to build successful relationships with everyone they contact through their business. This includes partners, their management team, employees, vendors, consultants and customers. The ability of managers to collaborate and delegate gives a small business the opportunity to experience growth.

Proactive

Entrepreneurs are proactive. They have initiative and they are ready to use it to further their business. They look for opportunities to improve their company, such as implementing services or marketing products that allow their business to stand out from the competition. They are also open to opportunities that can help them expand their current business into new areas.

Technically Aware

With all of the technology available to business owners, most are at least technically aware, if not adept. The use of software, email, websites and smartphones can make running a small business more efficient and effective. Successful small-business owners choose to use technology solutions that can help them and avoid wasting time and money on options they don't need.

Self-Reliant

Part of the reason people start a business is because of their desire to be self-reliant. Rather than work for someone else, they want to have control of their future. They don't look to others to make decisions. Instead, they make decisions on their own. They realize that the quality of their future is, to a large extent, within their control.

Accessible

While running a small business offers owners the ability to set their own schedule, it's important to ensure products, services and knowledge are accessible to customers. Customers want things as quickly as possible. If a business owner doesn't deliver the accessibility customers have been conditioned by society to expect, he won't achieve success, warns home-based consultant James Stephenson in a book excerpt for Entrepreneur.

Energetic

With all of the responsibilities of running a small business, owners must have a high level of energy. Typically, the hours are longer and the responsibilities are greater as an entrepreneur when compared to serving as an employee for someone else. Small-business owners must be willing and able to give an extra effort at all times since it's their own money and reputation on the line.

Daring

Launching a small business is risky. Even if the business owner has carefully examined all angles of the venture to give himself some assurance of success, nothing is certain. Small-business owners have to be willing to take a certain amount of risk in the face of a possible loss.

About the Author

Based in Texas, Cynthia Measom has been writing various parenting, business and finance and education articles since 2011. Her articles have appeared on websites such as The Bump and Motley Fool. Measom received a Bachelor of Arts in English from the University of Texas at Austin.

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