Dedication’s what you need
29 November 2007
Motivation, hard work and self discipline most important to business success, say Britain’s SME bosses.
New research from Abbey Business Banking finds that motivation and hard work are the most essential qualities for running your own business. The study was conducted amongst a representative sample of Britain’s SME bosses, of which 95 per cent cited motivation as the most important factor for business success.
93 per cent cited that hard work was an essential ingredient of success, while 88 per cent stated that self discipline was necessary. These were valued above innovation and honesty (86 per cent) as factors in building a winning business.
Despite this commitment to dedication, only 36 per cent of bosses said that being a workaholic was essential – reflecting the importance of getting the work life balance in achieving business success.
Interestingly, ruthlessness – the streak famously characterised in entrepreneurs such a Randolph Hearst and John Paul Getty – is only cited by 38 per cent as essential to success.
Ian Wilson, managing director of Abbey Business Banking, commented: “Our research shows that motivation and hard work are essential ingredients in the successful entrepreneur. These are important values at Abbey Business Banking, and we’re dedicated to supporting entrepreneurs achieve their personal and business goals.
“Running your own business is hard enough so, unlike other banks, Abbey offers business owners free day-to-day banking forever. We also offer 24 hour on-line banking for round the clock access to their accounts, and have been rated top out of all business banks for on-line banking customer satisfaction by Finaccord’s Small Business Metrics Survey.”
