Do you have the top traits to be a successful LNC?
There are several common features and traits that successful entrepreneurs share. Even if you don’t have these yet, you can develop them with practice and perseverance.
More than likely, though, you already have some of these traits if you are looking into becoming a successful LNC. Even if you need to work on some of them, you’re on the right track.
They Are Fearless
The truth is – this is a myth. No one is fearless, but they can push through boundaries and do things through the fear. The first Americans to walk on the moon probably weren’t truly fearless, but they felt the fear and then had enough confidence in their convictions to work through the fear and do it anyway.
They Make Actionable Plans
An LNC entrepreneur plans to do things, but they don’t just make plans – they make actionable plans. Making plans, setting goals – that’s just part of the process. Doing is more important than any of that. Without action, nothing becomes a reality. At some point, making plans has to become taking action to get things done.
They Understand Cash Flow
Many new entrepreneurs think that income is an indicator of success, but the truth is, without adequate cash flow, a business that earns money can still fail. Cash flow management is a critical element in running a successful business. Your bills are due at a specific time, and billables are due at a specific time, but you know it doesn’t always work out. So, work hard to understand cash flow so that you can be truly successful.
They Know It’s Not About Them
You’ve heard it before – the client is always first. But, it never will really hit home until you’re an entrepreneur. You have to learn to separate your wants and desires from your clients’ wants and desires. The client should drive your services and even price point more than your passions and dreams should.
They Aren’t Afraid to Self-Promote
As an LNC entrepreneur, you have to let go of shyness and promote yourself. Become an expert. Be known as the “go-to” person in your niche, and you’ll have people pounding down your door to get what you have. You can’t get there if you are too afraid to be a self-promoter.
Tip: Build an LNC business that you’re proud of, and it’ll be easy to promote it.
They Take Action
To take action, you need a clear vision, and you must be willing to overcome obstacles that get in your way. Taking action alone won’t get results, but taking smart action that has a reason will. You must know the difference.
One skill trait that an LNC entrepreneur has that really helps them succeed is shut up and listening to what their client is saying. Open your ears and listen to other people’s ideas, listen to their criticisms and their desires.
They Keep Learning
Knowing how to research and evaluate the market, their customers, and competitors is an important skill that LNCs have honed. It will help them avoid making errors before they even start providing a new service. Plus, once they do, they’ll know how to promote it best.
Developing an LNC entrepreneurial mindset and building your skills can be a process that you work on as you start your new business venture or continue in a business you’ve already started. Identifying where you are deficient will help you move forward and become more successful as an LNC entrepreneur.
Pat Iyer is president of The Pat Iyer Group, which develops resources to assist LNCs in obtaining more clients, making more money, and achieving their business goals and dreams.
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