1.

Physical appearance
If he has good appearance and commanding personality, it impresses the employees and makes him a
successful businessman.

2. Education
Today business is a complex activity and demands the services of educated and skilled persons who
especially know the tacts of business.

3. Technical Skills
Today every business demands some sort of technical skill. So a good businessman must know all
those technical skills required for that particular business which he has started.

4. Honest
He should not deceive any one. He should not mix up inferior quality in his own. People will trust
him and his business will develop.

5. Hard working
He should be habitual to work for a longer time to develop and look after his business.

6. Courteous
A businessman must be a cool minded person and should talk with his subordinates, colleagues and
customer politely, in this way can win the hearts of his customers and can develop the business
relations.

7. Steadfast
A goof businessman is always steadfast in his business (dealing) affairs; he is not disturbed by the
usual business hindrances and small losses. He works hard honestly and steadily to develop his
business.

8. Endurance Power
The endurance power is an asset for a businessman. He has to meat and talk with so many other
people. Some time during discussion, something’s are disliked by him but in spite of this, he does not
get angry and deal with others patiently.

9. Discipline
It is the quality of a good businessman that he must have a disciplined personality. He must be
regular, punctual and dutiful. He must not leave today’s work on tomorrow. He should present
himself as a role model for other employees.

10. Decision power

Many business decisions are made by a businessman. It is necessary for a good businessman that he
must have quick decision power. He should not make delay in important decision and it is only
possible when he has quick decision power to settle the matters.

11. Cooperative
It is necessary for a good businessman that he should have passion of co-operation for his colleagues
and employees. He should trust on teamwork. When he cooperates with others in the best interest if
business then he can also expect their cooperation, which is necessary for the success of the business.

12. Trustable
A businessman should be honest and fair in dealing with others, people will trust on him and they will
come again and again with deal him and he will earn more profit.

13. Ability To Plan

Planning is an essential element of business activity. A successful businessman always first
determines the targets for future and then prepares plans and budgets to achieve these targets. At the
end of each year, he compares the actual results with predetermined targets and points of efficiency
and deficiency are nominated in order to get help from them in future planning. So a good
businessman must be an expert of business planning and organization.

14. Managerial Skills

A businessman has to manage all the business activates. So he should be an expert of managerial
skills. It is often said that a good manager is good businessman, so management skill is necessary for
successful businessman.

15. Innovative
New changes and development are taking place in business like very other field of life. It is all due to
new inventions and scientific and technological developments. So a businessman should always be
ready to develop and apply new rules for the advancement of the business.

16. Sightedness
A good businessman always has an eye on his past performance and thinks about his future. He
should be able to forecast his future demand. He should properly plan and produce goods and services
to meet his future demand in order to earn maximum profit.

17. Financial Soundness

The success of the business mostly depends upon the financial soundness of the businessman.
Without sufficient funds no business can be run properly. As the business extends, it earns more and
more profit and the extension of the business demands excessive finance, so the good businessman
should not only be financially sound party but should also know the skills of financial management.

18. Experience
It is rightly said that an old is gold. So it is necessary for the smooth running of the business that a
businessman should have vast experience of business. An experienced person can earn more profit as
compared to a new one and can become a successful businessman.

19. Communication Power

A number of times a businessman has to address his employees attend important meeting and has to
contact with customers and with other people. If he has effective communication power then he can
impress and convince the others and it is very important for the business.

20. Leadership Qualities

A businessman is the leader of this concern and leader should lead from the front. When the leader is
competent, every business activity is performed smoothly. So a good businessman is that who has all
the qualities of leadership in order to extend the business and to earn more profit.

1. Ability to Plan
A businessman, if he wants to shine in business, must have the ability to plan and organize it.
2. Activator
He had to activate his workers. If he activates his workers then this is good for business.
3. Bold or Courage
Courage is a great asset of a businessman. A good businessman should be a courageous
and bold person. May be his some angry decisions gave him loss in future, so he has to be
courageous and be bold.
4. Cooperation
A good businessman should have to cooperate with his workers. With the help of cooperation
with his workers he can run his business well.
5. Courtesy
Courtesy is to business what oil is to machinery. It costs nothing but wins a reputation. So
businessman has to win the heart of everyone with his polite manners.
6. Decision Making
A good businessman should be a good and quick decision maker. Quick decision of a
businessman is an important asset of businessman. And businessman has to know that his
quick decision will give him benefit or not.
7. Discipline
A good businessman should have to care about the discipline of the business. If he doesn’t
care about the discipline then nobody (who concern to his business) obeys the discipline and
business can’t go well.
8. Evaluator
A businessman has to check himself that how he is working. This thing can make the
business good in progress.
9. Foresight
A good businessman must have the quality of foresight. He must keep in touch with the
business world. He should move about and see what is going on for he has to estimate new
wants and new inventions for creating fresh demands.
10. Honesty
A businessman should be honest in dealing with others. Honesty of a businessman helps him
in his business.
11. Hardworking
A businessman must be hard working. Without have working no business can be successful.
If the owner is not hard working then other workers of the business can’t be hardworking.
12. Initiation
The business world is moving at a very fast speed. A businessman should have the ability to
take initiative by producing new things and new methods of marketing the products and
services.
13. Knowledge
A good businessman should have knowledge of his business. It should be supplemented by
the knowledge of trade, finance, marketing, income tax, etc.
14. Leadership
Leaders are not made, they are born; but the businessman has to get some qualities of a
leader. With the help of leadership a businessman can control his business and workers.
15. Negotiator
If a businessman is a good negotiator, then he can run his business well, because without
good communication he can’t impress his consumer.
16. Personality
A businessman should have a graceful personality because it can impress his customers. If
his personality is not good or not graceful then his business can’t go well.
Introduction to Business –MGT 211 VU
© Copyright Virtual University of Pakistan 8
17. Quick Decisions
A businessman has decision-making power. He decides on all matters in the best interest of
the business. A businessman must have technical knowledge, judgment power and
intelligence to take sound and quick decisions.
18. Responsibility
A successful businessman should have to realize his responsibilities. If he doesn’t do his duty
then his business can’t go well.
19. Reviewer
A good businessman has to review his mistakes, which he committed in the past, and try his
best never to do it again in his life.
20. Sound Financial Management
Sound financial management is an important factor for successful business. Without it no
business can go well. So a business must possess good financial position.
21. Self-Confidence
A good businessman should have self-confidence. Without self-confidence he can’t make
quick decisions and business suffers a lot.
22. Tact
A good businessman should be a tactful person. He has to handle persons or his customers
very tactfully. It helps to earn profit in future.
23. Technical Skills
A good businessman must have the knowledge about technical skills. He should have
complete command of specialized knowledge in his field, which he has to perform.