Key Features of A Successful Trader
Basically, a trader must find these features:
Enthusiasm and risk-taking ability are found in very few people who have this ability, they move forward in the field of development. These are the people who have the ability to take the initiative, which is essential for success. The business process is full of risks.
Including deficits, bankruptcy, fire, competition, new inventions, constant changes in government policies, falling prices, death or resignation of a key employee or manager, customer breakdown and theft, etc. Included. So in all these situations, a trader has to work very riskily and bravely, and at that time he has to show courage.
For a successful business, it is important to set your goal in advance and then work on it to achieve that goal. This destination can be a business reputation, customer service, innovation, development and promotion, improvement of society, creation of a pollution-free environment, and enforcement of national laws. The destination of new business is usually profit when these businesses grow, their destination comes to higher goals, for example, public guidance. Microsoft, for example, has now reached the point where the public is provided with the most advanced information technology.
Informed and well-informed
This is the age of IT, where every entrepreneur should be far ahead in the field of information. The guarantee of business success lies in how much information the trader or administrator has about the following:
Inventions, potential inventions, government policies, national budget, political situation, international situation, information technology, constant changes, increasingly complex business trends, changing consumer trends, fashion, employee issues, business cycle, consumer needs And their purchasing power, competitiveness, market conditions, various business-related environments, and business internal issues, etc. In order for the trader to be aware and have extensive information, it is necessary for him to set up a management information system. Keep an eye on the current situation, continue the research process, and do forecasting through statistics.
A competent and competent trader always monitors his performance, which is a continuous process. He constantly monitors his personal performance, employee performance, and overall business status. He reviews the results of the work and makes future plans. Establishes standards for measuring work, and tests actual performance from those standards. If there is a difference in standards and performance, it eliminates it through practical measures. In other words, the trader must be a practical and hardworking person.
There are constant opportunities in the business process. A smart entrepreneur keeps looking for these opportunities, and when they are born, he takes them and drives his business towards growth. These opportunities include climate change, government initiatives and incentives, encouraging price changes, new inventions, new technologies, and innovative approaches. He continues to modernize his business over time by replacing obsolete methods, stereotyped machines, obsolete and obsolete equipment.
Unbeliever of Mystical Forces
It is important for a businessman to never believe in secrets and mysteries. Rather, run your business based on planning and research. Its style and practice should be scholarly and based on facts. Don’t leave matters to chance. He has to get to the point where the future will come according to his will and for that, he will have to struggle, become a practical person, and have a scientific mindset.
Rational Not Emotional Instead of Emotional
There are ups and downs in business. Based on these changes, he should not lose his sanity. Don’t give up under the pressure of circumstances. All decisions must be made with reason, intellect, balance, courage, risk-taking, risk-taking, hard work, and dedication. Emotional, violent, and angry people are useless in every field.