Businessman means a person who runs the business for earning profit. He invests his efforts or money in business.
Qualities of a Good Businessman
Following are the general qualities of a good businessman.
- Knowledge of business
A businessman must have proper and complete knowledge of business in order to operate it well.
- Planning ability
A businessman can enjoy the benefit of business if he is able of making plans before taking any step.
- Leading ability
A businessman must be a good leader. He must be able to lead his staff in order to make progress.
- Controlling ability
A businessman must have the controlling ability. So that he can control his operation in a systematic manner.
- Balanced person
A businessman must be a balanced He should not be too hard nor be too polite person.
- Hard worker
A businessman should be a hard worker. He must say welcome to challenges with open arms.
- Reader of market situation
A businessman should be a reader of market situation. He should have current knowledge about the economic condition of the country.
- Creative mind
Good businessman must be creative minded. He must develop new ideas and make changes according to the new demand.
Honesty is the best policy. A businessman should be honest in dealing with others/
- Delegation of powers
A goods businessman should delegate the power to his staff in order to get desired result. He must have good understanding with his staff.
- Knowledge of economics
A good businessman should have a little bit knowledge of economics in order to operate the business well.
- Knowledge of accounting
He should possess the knowledge of accounting for the documentation of business transactions.
- Marketing skill
A good businessman must have a marketing skill in order to promote his business.
- Cost of capital
Good businessman must have the ability to calculate the cost of capital and return of capital employed in order to judge business success.
- Knowledge of law
A good businessman must be well versed with the laws relating to business such as Business Law, Commercial Law and Income Tax Law etc.
A good businessman should be person who provides better and quality products and services to the community. He must be an asset of the society and not burden on society. He must start the business for the purpose of creating boom in the country and to have reasonable profit not for looting purpose.