Basic Qualities of a Good Businessman

Business:

The activities or some actions to earn profit through selling and buying goods or sort of services by doing legal activities.

Businessman:

A person who invests money and efforts to rum some legal or lawful activities in order to earn money and profit by selling goods and other useful services.

Types:

There are two types of qualities of a good businessman , That are followings:1. Professional Qualities2. Personal Qualities

Professional Qualities:

1. Knowledge of Business

The Businessman should have knowledge of his Business. He should have the knowledge of finance, marketing, income tax law, etc.

2. Knowledge of Laws

He must be well aware with laws relating to business such as tax law, business, commercial law, etc.

3. Knowledge about Computer

This is the age of computer. Thus, a good businessman must have knowledge that how to use computer's essential application that help in business effectively.

4. Financial Management

An entrepreneur tries to meet the financial needs from internal and external sources. A good businessman manages the finance in such a way that it gives him maximum profit.

5. Ability of Innovation

In this modern age new products and services attract the customer easily. So, a good businessman should have ability to produce and introduce new goods and services according to new idea and need of modern age.

6. Ability of Planning

It is a basic quality of a businessman that he should posses the ability to plan his business techniques for his business. In such say that every decision gives much profit to the proprietor.

7. Ability of Leadership

A businessman has a quality of leadership. He is the leader of his employees and should he able to guide the workers in a good way.

8. Research on Business

A good businessman always pay attention on research work. He also uses his uses his experience to minimize the cost of production and maximize the profit.

9. Responsible Person

A businessman has authority over the workers. He is responsible for various activities of his employees. He can't shift his responsibilities on the head of other people in case of any problem.

10. Marketing Skills

A good businessman must have a marketing skill in order to promote his business. He must know the best target market for his products.

11. Conceptual Skills

The entrepreneur should be able to coordinate and integrate the conceptual skills of organization. The executives should be involved for the achievement of common objective.

12. To Keep Discipline

The Business leader should follow certain principles to perform his duties. He should be punctual and dutiful. A sense of duty is describable for discipline. The absence of discipline is the end of any business.

13. Up to date Knowledge

It is the age of competition. A good businessman must aware and up to date knowledge. Thus he could make better decisions for making maximum profit in less time period.

Personal Qualities:

1. Hard Worker

Being a businessman , it is necessary to must be hard worker and capable of working for long hour. A lazy and inefficient can't compete the market.

2. Good Personality

Good personality is a symbol of success in business. The winning personality creates good impression and makes friendly relationship with customer and buyers.

3. Foresight

A good businessman should be careful about the future expectations. If he fails to estimate the future demand of public then he will suffer a loss.

4. Courageous

A businessman must have the courageous ability. He has to deal with many problems relating to his work. He must be able to solve the various sort of difficult problems.

5. Honesty

A businessman has a quality of honesty that he should be honest and sincere in public dealing. There should be no fraud and commercial bribery in business.

6. Sympathetic Attitude

A businessman always loves his workers. He should be aware of the feelings, problems and limitations of his workers and try to solve them.

7. Co-operation

A businessman is in the grip of so many difficult problems. He should cooperate with employees for better production. His cooperation with customers may increase attraction and increase sales volume.

8. Punctual & Regular

A businessman is the symbol of success in every field of life. So, a businessman must be punctual and regular in his job. He should come to work and perform all the duties well in time.

9. Technical Skills

A businessman should have a specialize knowledge and technical skills for understanding and completing the process of production.

10. Team Spirit

A entrepreneur must build up a team spirit among the group members. He should be aware of the temperament, talent and belief of the working with him.

11. Good Reputation

In business dealings good reputation is an asset for the good businessman. A good person always improves his goodwill and expands the business.

12. Flexibility

A good businessman must be flexible. So that according to circumstance he can change his decision.

Conclusion:

After know about all the qualities weather that is "Professional Qualities or "Personal Qualities", both are essential in running a good business and get a huge profit in terms of spend less cost.