6 Habits of Highly Successful Business Owners
Throughout our lives we all pick up habits, good and bad. Good habits are what make some of the most successful business owners stand out from the crowd and thrive in their careers. It’s not just the decisions they make that got them to where they are, but the way they run their businesses and live their lives.
Fortunately, habits are something anyone can adopt with a little effort and a lot of repetition. Below are six habits of highly successful business owners. Consider how they fit into your routine.
- Self-Motivation | Owning your own business means working on your own, and working on your own means you don’t have anyone else to hold you accountable. This makes it tempting to slack off and procrastinate. Successful business owners are self-motivated. They do what they choose and choose what they do. They set goals, track progress, and stay on top of the bottom line -without relying on someone else to tell them what to do and when to do it.
- Know Your Strengths & Weaknesses | Everyone has strengths and weaknesses. Smart business owners know how to leverage their strengths and rely on others where they are not-so-strong. Unlike last century when business owners had to be jack of all trades, today’s successful business owner leverages technology, independent contractors, advisors, and networks to grow their business. Don’t go it alone – particularly when there are over 30,000 free and low-cost public small business assistance programs that you can take advantage of through America’s Small Business Champions Network.
- Prioritize | Whether you are a one-person show or a CEO of a global corporation, successful leaders know the importance of prioritizing. This means ensuring that the most important tasks are done first and done well. Avoid the common pitfall of putting off what you might not like to do, like closing sales, for the more fun stuff, like perfecting your business logo. In business, each day needs to begin with “how will you make money today?” Everything after that is a support function.
- Learn to Earn | The most successful people in the world aren’t just willing to learn. They seek it out and routinely apply it to generate revenue and grow their business. There’s new information available constantly about your industry, technology, and winning strategies – particularly from your industry peers who likely leverage social media to share valuable tips about their own experiences. Socrates said, “Unless you do, you don’t know.” Stand on the shoulders of those who came before you.
- Live Healthy | Your physical and mental health play a more significant role than you may realize in the success of your business. Studies continually show that when you are healthy, your brain performs better. That’s why successful business owners make a healthy lifestyle a priority. It may seem difficult, but you can find ways to stay healthy in between your busy schedule. Choose better lunches, take 15-minute walking breaks, and go to bed earlier. The options are there. You just need to choose – and act upon – what works for you.
- Track (and Celebrate) Success | One of the laws of nature is that what you track expands. In business, this means tracking performance against goals. This may include tracking sales, productivity, marketing impact, customer satisfaction and inventory turns. Whatever defines success for you, your business and your life, find a way to track it and celebrate every accomplishment along the way.
Just talking about success won’t get you there. How do these six habits of highly successful business owners fit with what you’re doing? Ask yourself. Adjust accordingly and reap the rewards!