Traits of a successful business owner

Becoming a successful business owner means finding a unique product or service you can offer customers, while simultaneously doing something you’re passionate about. The decision to start your business and invest your time and money into it takes confidence, strength, and a willingness to take risks.

Here are some traits among successful business owners.

Accountability

A successful business owner is focused and accountable. You accept responsibility for yourself and everything that happens to you. You are the source of your success, you acknowledge your mistakes and failures and use them as opportunities for growth.  You are a leader and are constantly innovating and considering ways to improve and build upon your business. You always follow through.

Engages learning

Success entails being a learner who is always learning. You are always working to improve your knowledge,whether it is discovering new skills,researching competitors, finding a mentor, going to training sessions, workshops and classes, or exploring new technology. You consider how you can implement advice from others and new knowledge into your business and determine what will work best for you, and what doesn’t. Today, businesses are constantly evolving to meet increasing consumer demand, so education and innovation are key to having real impact and success.

Offers solutions

A successful business owner offers solutions. Today customers have access to more information than ever before. What problem does your product or service solve? What is going to separate your products and services from your competitors? Are you transparent and responsive? Do customers find it easy to communicate with you?  Whether you’re just starting out, an aspiring entrepreneur, or business veteran, it’s important to constantly ask how your business is contributing to and solving problems for customers.

Learning from mistakes

Success involves acknowledging failure. You are constantly learning and growing from mistakes. You refuse to make excuses or blame others. Instead, you look for ways to overcome obstacles, improve and progress forward.  When things aren’t working the way you want, ask, “What am I not seeing?” Owning a business brings victories, chaos and setbacks with it. Celebrating your success whilst acknowledging and learning from failure, is essential to continue improving and growing your business, and staying ahead of the curve.

Keeping financial score

And, a successful business owner keeps their finances in check. Many people go into business because they want to make a difference. Keeping a profitable business allows for growth and to make a difference. Money allows you to buy products, services, marketing, as well as you and your employees’ salaries. Stay on top of your finances. Keep track of where and when you’re spending money, and when and where you’re earning it. Money management is just as important as your passion and goals for your business. Ask the question, “What income streams can I tap into to create more?”

Business owners never give up. There will be ups and downs along the way, but if you stay true to yourself and your business, there’s no limit to what you can achieve.

Arlene Schmidek, Access Consciousness Being You and Joy of Business facilitator, www.accessashift.com

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