The difference between a business owner and a successful business owner is night and day. Being your own boss and owning your own business is something that a lot of people dream about. However, a lot of the time those dreams of becoming a successful business owner either don’t become reality or they don’t succeed for the long term. When a business fails it can be a devastating experience for the business owner. After an extensive study, the Guardian Life Small Business Research Institute has come out with a report explaining why only 1 in 2 businesses will survive longer than 5 years.
One of the main things that they pin point are the character traits of the business owners themselves. It takes a special kind of person to successfully run their own business. Here is a shorter version of the traits they discuss in length:
Successful business owners love what they do and the value being able to be their own boss and being able to determine their own worth based on the work they produce. Successful business owners thrive on being able to be self-sufficient.
Business owners who are more likely to succeed excel at both long term and short term planning. They are organized and will most likely have a plan for the next 5 years as well as for the next 24 hours.
Successful entrepreneurs never stop learning. They are constantly reading and asking questions, learning as much as they can about their business and other businesses like theirs. This type of knowledge seeking gives them a basis for other businesses that may have failed, why they failed, or what their competitors are doing and how to do it better.
Some of the best business owners around know the benefit of using technology and will invest time and money into ways to make their company more efficient as well as using technology, like social media, to boost their brand.
You have probably heard this before; that pro-active people get things done. It is no different with business owners. When a successful business owner sees something that needs doing they don’t waste time talking about doing it, they find the most efficient way to get it done well and quickly.
There are, of course many traits that make for a successful business owner and these are only a few. As a business owner, brushing up on these skill sets will get you farther along the path of successful business ownership.
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