4 Traits Of Every Successful Business Owner

Business owners who strive to be successful need to be at the top of their game. They need to own their role and put in the hard work that’s necessary to drive results from their business. If you want to be successful at running a business, here are some key aspects that you need to incorporate into your everyday life.

Common Traits Business Owners Share

  1. Not Afraid Of Hard Work

Image 1Successful business owners are accustomed to managing high-pressure situations and unexpected challenges that may arise from time to time. While these challenges may create unwelcome stress and anxiety, you need to remain calm, measured and respond to the issues at hand with a clear, methodical focus. To help maintain a clear head during difficult times, consider the following tips:

  • When faced with a challenge, work on analysing the situation before making a decision about what to do. It may help to make a list of the issues you face and to categorise them from low to high priority, and then by urgency – from time-critical through to less time-critical. This can help to determine which issues need to be addressed first and by when, making the tasks at hand easier to manage.
  • Ask for help if you feel like you’re stuck. Team meetings can help with brainstorming ideas and potential solutions. This can help take the edge off the intensity of the situation, and as a combined team, you’re more likely to arrive at a creative solution to solving the issues at hand.
  • Focus on one task at a time before moving onto the next one. You’ll feel overwhelmed if you have too many things to do at once.
  • See the new challenge as a way to grow, learn, and improve your business and yourself. See challenges as a new opportunity rather than a hindrance.

Commitment is key to your success, ignoring issues or obstacles is a sure-fire way for minor problems to escalate into major problems in the future.

  1. Eliminate Needless Work and Become More Efficient

You may have already thought to yourself, ‘it’s impossible to get everything done!’. While it may seem like you’re up to your neck in endless piles of work, you’ll find if you stop and think for a moment, a good proportion of the work probably isn’t really as time-critical as you might think. For instance, can you outsource some tasks in order to meet deadlines? Are you able to push something back to a later deadline? Here are some tips that may help you to become more efficient:

  • Setup milestones and a set amount of work that you’re going to complete in one day. Setting up a work schedule will help you to know what has to be done each day and will help you to stay focused and in control. If something non-urgent comes up, leave it for the following day. Prioritising your day will help keep your work in check without being overwhelmed.
  • Eliminate distractions that may be causing you to stop and start your project. This may be the phone ringing non-stop, watching TV (if you’re running an at home business), or do you have people always asking you questions? Limiting the amount of distractions will help you to be more efficient with your projects.
  • Avoid procrastination or spending too much of your time on non-essential tasks.

Eliminating needless work can help to give you more time to focus on the main core areas of your business. Don’t say to yourself ‘can you make something efficient’ before you ask yourself ‘do I really need to do it at all.’

  1. Learn From Previous MistakesImage 2

Mistakes are a fact of life. The key to being successful is to learn from previous mistakes and to recognise the warning signs in the future. Here are some questions you can ask yourself if you want to learn from your previous mistakes:

  • What could we do differently if we were faced with this same situation?
  • Is there new information now that we could have used to overcome this challenge if we had known about it during this difficult time?
  • Were there any warning signs we should have been aware of?
  • Were the goals that we have in place the right ones? Are we solving the right problem?
  • What can we do in the future to avoid making these same mistakes?
  • Given all of the circumstances, was this situation possibly avoidable?

Learning equals personal growth, the more personal growth you have the more you’ll be able to push yourself and your business. Don’t worry if you stumble a few times, challenging circumstances all help with your personal and professional growth and development.

  1. Stay Positive and FocusedImage 3

The key to becoming successful is by staying positive and focused throughout your career. Positivity is power and the more positive you become about your business and its growth, the better chances you have to succeed and drive your business in the direction you want it to go. Some of the best ways to stay positive while running a business include:

  • Surrounding yourself with positive people and team members who share the same aspirations and goals that you do.
  • Analyse negativity and work on turning it into positive solutions that can help to improve your business productivity and profits.
  • Ask for help from experts who are specialists in your industry.
  • Pay attention to your thoughts and push out negative thinking patterns. It may take a while but you’ll start to look for the positive in most negative situations.
  • Continue to look for new business opportunities that can help grow and bring profit to your business.

Staying positive and focused during difficult times is essential to your overall success. If you flounder in a sea of negativity, it’s time to stop, reassess your situation, and look for ways to improve it.

Conclusion

Successful business owners generally share these qualities. The question is, are you going to work on becoming a successful business leader and start to incorporate these into your everyday life?

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Steven McMeechan is a strategic marketing and communications specialist with over twenty years’ experience in senior marketing management roles across a range of industries including Information Technology and Financial Services. He works for Capstone Financial Planning and lives in Melbourne Australia.

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