18 Successful Business Owner Traits
18 Successful Business Owner Traits
- Honesty
One of the essential traits when it comes to creating strong, trusting relationships, as well as a positive reputation at work and beyond, is honesty. In a recent study conducted by a US Research Centre based around the subject of “what makes someone a good leader”, results showed that over 80 percent of participants surveyed believed that honesty was the most important trait in a successful leader. This is especially true because honesty in all relationships promotes a comfortable setting and makes one more approachable.
- Competitive Drive
A little (friendly) competition never hurt anybody. For successful individuals, the success of others is often a push to do better; to keep up with (or ahead of) the pack. These people have a dream and won’t let others get in the way on their path to success. Most Successful business owners find themselves thinking “I can do better than that!!”… and that simple unconscious thought is a sign of a competitive nature.
- Devotion to Improvement
Being “good enough” is never really an option for successful business owners. There is always room for improvement, whether it is a new idea, better work ethic, or whatever it may be. Successful people are never content with just what they have and what they are, but are constantly problem solving and trying to better themselves in any way possible. The only way to improve is to constantly seek to raise standards.
- Desire to Give Back
Truly successful business owners realise that with the any kind of power, there comes an opportunity to effect some sort of change on a bigger scale. Giving back, no matter the form, is a way to motivate others and help them to realize their own potential and make the most of their own opportunities. Successful business owners feel an obligation to help others, and are unselfish. This may be surprising – but it’s true.
- Commitment to Networking
Those who achieve success know that you can never really build too many connections. Being able to build and maintain relationships of all sorts is a major component to maximizing success in the future, since you never know when you might need a helping hand or could potentially parlay a relationship into a new opportunity. Successful business owners don’t see networking as a chore – they relish it, and enjoy any opportunity to talk to people about their business.
- Open-Minded
Some of the greatest innovations have come from the “craziest” of ideas. Close-minded people are missing out on so many opportunities by failing to accept the full potential of even the most unusual ideas. The reality is that one small, creative idea can become a massive opportunity in the future; it’s giving the different ideas shots, and keeping your mind open that helps successful business owners to find great success.
- Attentive All Details
Minor details can end up creating something major in the future. Some of the most successful business owners in the world are very attentive to everything that goes into their work, down to the very last detail, because they know that in order to move forward and succeed, it’s important to take pride in every piece of work as a whole, right down to the smallest components.
- Not Afraid to Fail
It is okay to make mistakes, and it’s most definitely okay to fail. Successful people take those moments in their lives, learn from them, and use those lessons to help themselves succeed in the future. It’s rare to find a successful business owner who hasn’t experienced at least one major failure or roadblock, and it’s important to remember that success just doesn’t come over night. Rather, it takes multiple attempts, a ton of hard work, and plenty of “dust yourself off and try again” moments. Not being afraid to fail means that a good business owner is not afraid to take risks.
- Calm in a Crisis
Being under pressure ignites a fire under determined business owners; instead of surrendering to stress, they take that stress and use it to drive them to work even harder. A crisis doesn’t get the best of them. If anything, it motivates them to work even harder and more meticulously as they turn their attention to troubleshooting and getting over the hump.
- Being Grateful for the Help of Others
In most cases, success comes with the assistance and support of others, from friends and family to mentors and co-workers. Respecting the people who help you along the way and showing thanks for them is a great way to keep those positive relationships strong and to ensure that the people in your life who motivate you and push you forward the most remain by your side for the long haul.
- Responsibility
Successful business owners share one unusual trait, they take responsibility for EVERYTHING. Even if it’s not really in their power or control, successful people always own the outcome, and never “pass the buck”, or make excuses.
- Positive Mental Attitude
You never hear successful people complain. They just get on with it, and get things done. Have you ever met a self-made business owner with a bad attitude? It’s very rare. Most successful people have a great attitude, and a strong sense that they will prevail eventually. Of all the attributes of a successful business owner the Positive Mental Attitude (or healthy mental attitude) is the strongest. A positive outlook is where confidence grows from, and confidence is contagious and influential.
- Determination
That strong sense that they will eventually prevail, is where great business owners get their determination from. They know that their plans and goals are sound, and achievable, and so all that they have to do is execute the plan, and the results will follow. That’s where the determination comes from – knowing that what you are doing is going to work.
- Craves Learning
Have you noticed that the successful business people are the ones who are always learning, always challenging themselves, and always at conferences and seminars. Great business owners know that you never stop learning, and they are happy just to pick up one or two small ideas, and the time spent learning was worth it.
- Passionate about his or her business
Sometimes it’s hard to know if the really successful business owners are passionate about their business because it is successful, or if the passion is what has led to the creation of a successful business. Whichever it is, it is clear that successful business owners just love their business, and what has been achieved. For some people their business defines who they are, and how they see themselves. That means that the idea of leaving their business scares them, because they feel that they will lose their identity. Do you know anyone like this?
- Highly Adaptable
Truly successful people (in all walks of life) know that flexibility is required to be successful. The ability to quickly adapt to changes is what separates success from failure. Winston Churchill made such a statement nearly 80 years ago…. And it has proven to be very true.
- Good understanding of money management
Great businesspeople really understand and know exactly where their money is, at any moment in time, and what is happening in their business. They understand money management incredibly well, and know where income comes from, how profit margins are derived, and they control every cent of expenditure.
- Ability to sell and promote
Good business owners are not always great sales people, but they can sell and promote themselves, their business, their products, or their services because they know what they are talking about, and they are passionate about what they do, and that makes them good at selling and promotion.
