5 Characteristics of Successful Business Owners
Success can be measured in a multitude of ways. It may mean different things to different people, but in business, the owner defines what success means to them and then leads others with that definition. No matter how great an idea, if the business is led with a mediocre mindset, there is little chance for long-term success. Successful businesses begin and continue with consistently great leadership. We’ve compiled 5 common characteristics of successful business owners:
1. Do What You Love & Love What You Do
Successful people are always working towards a goal. Business leaders need to define success, individually, and then create a goal to work towards. To create a goal: find a dream that inspires you, that you are passionate about, and that you are talented at. The business plan is the roadmap to achieving that goal. When you are an entrepreneur, you essentially become what you do. You put every ounce of energy into building up that idea. Therefore, it is very important to make sure that the business you choose to put your time and energy into is something that you truly believe in. There is an inherent desire and fire within successful people to succeed and constantly work to achieve their goals.
“If you work just for money, you’ll never make it, but if you love what you’re doing and you always put the customer first, success will be yours. – Ray Kroc
2. Lead by Example
Being a leader means building your business by hiring, training and recruiting other leaders. You need a clear goal for others to work towards, but developing and encouraging them is a whole other part of leadership. From a very young age, we learn from example. In business, a successful leader is one that leads by example. As a business owner, you need to create a picture of what is possible in each of your employee’s minds. People follow in the footsteps of those who live the life they teach. You can show your team the way by teaching them through your actions. If you don’t lead by example, then your team will likely no longer trust or respect what you say, and productivity will then decrease.
“If there is such a thing as good leadership, it is to give a good example.” – Ingvar Kamprad
3. Attitude is Everything
The success of your business is dependent on your attitude. Between your circumstances and your actions is the ability to choose. It is the freedom of choice, and a large factor of that is choosing your attitude. There will be plenty of ups and downs when starting an online business, but the choice is yours on how you handle it. Successful leaders view everything as a learning experience, and press on towards their goal.
“Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations.” – Steve Jobs
4. Take a Chance
Successful leaders tend to be risk-takers and extremely creative. They take chances, and they don’t stay inside the box. Their business’ progress is built on taking calculated risks. Leaders must leave their comfort zone in order to scale and grow. Successful business leaders say ‘Yes’ when someone proposes a challenge or an opportunity. Taking a chance has the power to change industries. No matter how stable the business is, though, every business involves some sort of risk. The question is: How much are you willing to risk? If you don’t take a risk, you won’t have much to gain.
“The important thing is not being afraid to take a chance. Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.” – Debbi Fields
5. Just Do It
Why don’t we all follow Nike’s advice, and “Just Do It?” It is because it’s not easy. Successful entrepreneurs share a similar quality that they don’t let anything stop them. Rather than planning themselves into paralysis, successful business owners act on their ideas. Successful business owners go out and fulfill the idea that they are most passionate about. Whether it is based on a passion for an idea or a desire to help others, successful people do not let fear of losing money, the threat of failure, even difficulties or roadblocks stop them. They don’t take ‘No’ for an answer. If you want to start a business, then start a business. For most people starting is the hardest part. Getting past that initial roadblock is the launching platform to success.
“To think is easy. To act is difficult. To act as one thinks is the most difficult.” – Johann Wolfgang Von Goeth