Businessman is a person who is engaged in buying and selling or in production of goods and services to earn profit.
What qualities should a good businessman have to be successful in his business, if you are a business you should know the basic but major qualities of being a good businessman.
Qualities of a Good Businessman
Due to scientific and technological advancement, it is necessary that a businessman should possess the basic skills and knowledge about his business. the success or failure of a business mostly depends on the person who runs it. So, a businessman must have the following qualities:
A good businessman should be careful about the future expectations and has the ability of foreseeing. If he fails to anticipate the demands of his goods he will surfer loss.
A good businessman must have the quality of courtesy. It means he must be polite with his employees and costumers in any personal or business deal. Is this way he can win there trust and can earn more profit.
A good businessman must be industrious and hardworking. He should be well balanced and cool minded and have the ability to work for long hours. A lazy person can be harmful for business.
4. Man of Principles:
A good businessman must follow the basic standards and principles of morality and ethics in business dealings. This strategy helps to expand business fast.
A good businessman must be confident. This personal quality puts the businessman in a position where he can work with great determination even in hard circumstances.
A man who wants be successful in business must have the qualities of leadership. The workers and subordinates work wholeheartedly if they have the influence of there owner in business.
Patience is an asset for businessman. He has to meet with many persons for the business matters. So, there is always a need of patience. If trader looses his temper then he may face problems and suffer loss.
A good businessman must be honest and sincere in his dealings. Good will of business depends on his honesty . There should be no fraud or deceit in the business.
1. Ability To Plan:
It is essential for a businessman to have the ability to plan and organize the business affairs effectively. He should consider all different available alternatives before making a decision. A good planner can make the best decisions for his business.
Capital is necessary for business. A good businessman gets capital from all available resources according to need of business because capital is key to success.
Experience in managing business affairs and dealings is necessary to run a business successfully. An experienced businessman can never earn more profit as compared to an inexperienced trader.
4. Desire of Progress:
A good businessman always desires to earn huge profit by expanding his business activities. The desire of progress of trader puts the business on the path of progress and prosperity.
5. Social Responsibility:
A good businessman tries to provide quality products at low price to his customers. Because he thinks it is his social responsibility to earn profit at low price.
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Usama Arshad is a Tech Geek and Student of $Commerce$. He loves to write about Business and Tech news. He is active author at KIP