Qualities of Good Businessman?

Answer:

Qualities of Good Businessman:

A well-managed business is generally a reflection of a person or persons who have inherent or acquired qualities of leadership and direction. So a businessman to succeed must be a well-balanced and full-fledged man of talent. He must have a consistent mind for clearness, steadiness and firmness in his dealings with others. Some of important and basic qualities of businessman are following:

1.     Business Ability:

For the success of any business it is essential that a businessman must possess the sounds knowledge of market, product, technological development, scientific .inventions, innovation, organization and business laws. It requires an ability to initiate, direct and control, and even more important, the capacity to win and hold the respect and loyalty of fellow workers. It permits the businessman to work efficiently for the prosperity of his business. This type of quality depends first on temperament and second on training.

2.     Good Appearance:

This is a prominent quality required in a businessman. It help him much to win the opinion of the public. Good appearance is a rare quality and depends on a combination of many other qualities of head and heart. It is the capacity of attracting and influencing other people without conscious effort. A businessman with sound personality can easily win the confidence of his prospect and convince him about his point of view.

3.     Spirit to Co-Operate:

This businessman shall be a good Co-operator, and so a good businessman. He must be able to compromise adjust, adapt, and be willing to admit that his judgment may on occasions be wrong. Besides he must be temperamentally fitted to exercise a divided authority.

4.     Well Balanced:

A businessman must be a well-balanced man of talent. He must have a consistent mind for clearness, steadiness and firmness in his dealings with others. He must never be prey to moods, by being of complacent temper today.

5.     Sincerity and Honesty:

A businessman should be sincere and honest in his business activities. His own and the firm’s reputation depends on honesty. This honesty and sincerity which goes with it are attributes of the businessman at his best. Honesty with him is not only the best policy but also the best practice.

6.     Enthusiasms:

The next quality without which no one should consider a profession as a I businessman, is enthusiasm for his activities, for an unsettled life, and for long hours and for the people who is going to meet. Then the knowledge of product, knowledge of the marketing conditions and knowledge of the prospect to enthusiasm and you have unbeatable combination.

7.     Dependability:

The successful businessman should have the capacity of dependability. He should use every effort to hold it constant and dependable, so that those who work under it know what to expect as it remains fluctuating from day today. It keeps him much to win the heart of both customers and workers.

8.     Courtesy:

Courtesy is to business what oil is to machinery. It costs nothing but wins a reputation. So businessman has to win the heart of everyone with his polite manners. Every one cannot know how may down is head before the polite and courteous businessman.

9.     Alertness:

A businessman must be alert to the opportunities surrounding his business. He must keep in touch with the world, and not keep himself to himself. He should move about and see what is going on for he has to estimate new wants and new inventions for creating fresh demands.

10.   Sociability:

Another notable quality of the businessman is ability to mix with anyone within a minute or two. He must get himself introduced to an unknown persons within a short time. Thus a businessman of sociable nature can easily win the confidence of many persons and much popularity among them.

11.   Financial Ability:

Finance is an important factor for successful operation of the business. Without adequate finance no business can smoothly run. So a businessman must possess good financial position. The larger the amount of capital, the larger is the size of business and larger the volume of profit.

12. Accuracy:

The businessman is that who knows what he is talking about, and what he mean, because he deals with a number of simple wants. Accurate actions depends upon accurate thinking. The goods businessman must be able to grasp his problems by treating them quantitatively.

13. Time Sense:

Besides quantity and the nature of his product, the businessman must appreciate time. He must always thinking in terms of time. Actions cannot be taken in complete isolation from each other. There is also a chain of actions, which must fit in with the rapidly changing desires of the ultimate consumer. This makes it vital to be able to visualize the various actions in their places in time. There are no hunches in business, but all actions depend upon figures and facts.The businessman who has given adequate attention of quality and time will always be ready to make the most of each opportunity as it arises, and to look ahead as far as he needs.

14. Energy:

A bountiful endowment of physical and nervous energy is another requisite without which other qualities are hardly of any value. As in any other activity so in business, infinite capacity to taking pains is essential. In addition to possessing an abundance of energy, he should possess forcefulness enough to put across his ideas and suggestions, which he believes to be right.

15. Character:

All talents are greatly enhanced in value when to them is added moral character, because this gives the promise of energy, loyalty and steady growth in ability and economy in supervision. Such a person, in the words of Professor Hocking, will “through his eye, through his voice, through his gestures, through the substance of what to say, through absorption in his work and belief in his mission infuse his own, state of mind into his men.” He will avoid any sort of double-dealing, either with his associates or with the rank and file. All false dealing is futile; and it is absolutely destructive of loyalty.