The Intrinsic Qualities of a Successful Internet (Virtual) Business Owner
Posted by Craig · Leave a Comment
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In my previous post, we talked about the wonderful freedoms of being a Virtual Business Owner. While we have certainly enjoyed many freedoms, there have also been a good share of challenges and "gut-check" moments that have stretched my skills and intestinal fortitude beyond what I thought was possible. I am always fascinated by the rise and fall of Internet Start-up companies and why some succeeed and others fail. The same applies for Virtual Assistant Business Owners - why do some VAs seem to experience a continual dose of growth and success in their business where as other flounder and float along? Well, there are certainly many reasons for this, but today I want to specifically look at a few of the intrinsic qualities or elements that are commonly held by successful Internet (Virtual) Business Owners. (Again, there are ALWAYS exceptions to the rules, but this is what I have seen based on my own observations and experiences). 1. A Significant Purpose For those embarking on the volatile journey of starting an Internet Business (Virtual Assistant Business), I believe there has be a highly significant purpose, motivation or expected outcome for starting this new business. Without a clear purpose or motivation driving the Internet Entrepreneur, I believe that when the "storms hit", they will be more likely to crumble, then the entrepreneur that has a clear purpose that defines what they are doing. For example; your purpose might be tied to the new found freedoms and opportunities a Virtual Assistant Business might have for you and and family. You might see this Internet opportunity as providing some financial stability in your current situation. A significant purpose whatever that might be will give you what you need to successfully navigate the stormy waters that often comes with new Internet Businesses. Again, with no significant purpose, I think the endeavor is more likely to falter. (IMHO!) Now, here’s an interesting debate…..Is the desire to be filthy rich and famous a significant purpose that drives the succesful Internet Entepreneur? While I am sure that some Internet Business Owners have been driven to success solely by their ambition for wealth and fame, no doubt…. I personally don’t classify the ambition for wealth as a significant purpose. Furthermore, I think that many Internet Entrepreneurs with that sole focus of making money may not effectively handle the stormy waters when they come, as they won’t have any significant purpose that propels them to rise above their adversity. Again, people might disagree with me on this, but that is my perspective and experience. 2. An Extraordinary Portion of "Sticktuitiveness". Now, this certainly can be tied to #1, but from my own experiences, I believe the successful Internet Entrepreneur has an extra measure of perseverence (sticktuitiveness) to overcome the obstacles that can often come with starting a new virtual business. "I give up" is not really apart of their vocabulary and they seem to actually have the ability to increase their focus and intensity when the going gets tough. I am an avid sport fan and love watching athletes that have the rare ability to elevate their game to new heights when faced with adversity. If you have ever watched Tiger Woods go into the 4th round behind at a major PGA event, you will see a mental toughness and focus like very few people have as he single handedly propels himself to the winner circle. Similarly, I believe that successful Internet Entrepreneurs have an extra measure of mental toughness and focus to effectively manage the set-backs, disappointments and everyday adversity they experience in their businesses. 3. Clear Recognition that Pitfalls are a part of the Journey. A successful Internet Business Owner does not have a "pie in the sky" mentality, but is realistic about the inevitable pitfalls that will come along the journey. For many, their ability to overcome some of the big pitfalls or setbacks has served as a springboard, catipulting them towards great success. I know from my own experience, the set-backs we have overcame in early days of our first Internet Business were real milestones and "defining moments" in our journey. It is important to keep clear mental notes of the little and big victories you experience in the early months and years of your Virtual Business as they will help to sustain you during future set-backs and disappointments. 4. Ability to Adapt on the fly. A successful Internet Business Owner needs to be pliable like clay and easily adapt to new challenges, changes and opportunites in a rapidly evolving Internet Landscape. This rings true for the Virtual Assistant industry as the needs of your Internet Clients continue to evolve at rapids rates and you need to continually learn new skills in order to remain competitive! 5. Adopting a Internet Business Champion So, what do I mean by that? Well, from my own perspective, I believe that Virtual Business Owner needs at least one person that champions their business endeavor. This person will be their #1 encourager, supporter and regular supplier of "reality checks." For myself, this person is my wife. I certainly have a share of family and friends that have been hugely supportive, but my wife has been the stabilizing force and champion for our business endeavors especially during a few of the dark days. While some entrepreneurs maybe so independent they don’t require a "Champion", I think the average person needs a sounding board or individual they trust that will give the encouragement and support they need to endure some of the difficult times. I can honestly say that without my "Internet Business Champion", I am not sure I would have been able to overcome a few of the obstacles we experienced! So, those are just a few of the Intrinsic elements that make up a successful Internet Business Owner. I am sure there are many more and I would love to hear from you as to some of the other qualities and characteristics that should be added to this list.
