10 Traits of a Successful Business Owner
Would you make a successful business owner? Often the the people I am counselling say that they are thinking about self-employment and wonder if this is a viable option for them. For some it may be, for others it is not a good choice.
To be a successful business owner, you must be able to explain your vision well and lead your team to the finish line. In other words, you must be a good leader. Leaders possess traits that allow them to be successful in business.
1. Leaders are goal-oriented
Leaders always set SMART goals, so they have something to achieve and work on with a plan in mind. Setting goals often inspires one to work harder because they have a clear plan of action to work with.
2. They are passionate
Having passion for something means you have a strong emotional connection to it that often controls your desires. Passion often motivates individuals to accomplish their goals and is what defines their determination for something. To be successful, you must care.
3. Leaders have confidence
They know they can do anything that they set their mind to with the right education or resources. The confidence they have comes from within and not from others. They understand their importance while not undermining the value of others.
4. They are determined
No matter what comes at them, successful business owners are determined to be successful. They will do whatever it takes, within their principles and values to succeed because they have a fixation on that goal. If you are not willing to continue something even if it is hard, you are unlikely to be successful.
5. Leaders are amiable
They will often be enjoyable to be around naturally. Leaders are good-natured and just naturally easy to get along with, or they know how to appear that way. Even if you are an introvert, you can learn to control your body language so that you appear as friendly as you are.
6. Leaders are approachable
Being approachable is a valuable trait because it allows your employees, contractors, followers, and customers to feel like they matter. A great leader knows that all their employees, contractors, and customers are worth the time no matter the skill level they possess or the price they paid to make a purchase.
7. They lean towards positive
Any situation will be a positive one eventually (even if at first, it’s not) because successful business owners believe there is always something to learn from any situation. They know that if you show the world good, they will receive good.
8. Successful business owners are intuitive
Intuition is having the ability to know when something is true or right without fully thinking about it. It is automatic to them, but it’s not based only a gut feeling. It’s based on knowledge too. They are very in tune with their emotions, which often allows them to know what's right for them instinctively, but they also do their research so they understand there are things they may not know.
9. Good leaders are full of integrity
This is by far one of the most critical traits because it always ensures the right thing will always get completed. If you continue to lie and steal to get your way, eventually it will come around to hurt you. Those with integrity don’t care who is watching or what the reward is. They want to know they did what was right with-in themselves because it feels good.
10. Successful business owners are generous
Research shows the more you give, the more success you will see. This is because of the fundamental philosophy of a successful business is to provide value. If you look at anything you have done throughout your life, it is usually about what you can bring to the table. Being generous is not always monetary, either. In fact, it’s paying attention to who needs help and offering that help, even if you do get paid for it.
Beyond these common characteristic traits, successful business owners also value education and learning, sticking to budgets, and following a well-written business plan based on information. They are also never afraid to take risks based on that information. Risk is always a part of a business, and they understand it’s unavoidable. If you exude these traits and do the work, you, too, can be a victorious business owner.
If you are thinking you might like to be self-employed, message me for an Entrepreneurial FAQ
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