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Five Behaviors of Successful Business Owners

Nov 15, 2018
Posted by: Stearns Bank

Many small business owners are born with an entrepreneurial spirit, possibly tasting success with their first lemonade stand.

Others may have reached a crossroads later in life, after years of working as an employee. Frustrated with their job or excited to try something new, they start their own business.

Whatever path you followed, venturing out on your own as a small business owner can be very exciting.

Many would-be small business owners are intimidated by the pressures and responsibilities of being their own boss. Instead of taking the risk, they may choose to stay where they are. We’ve compiled a list of qualities that describe the typical mind-set of a successful small business owner:

1. Vision

Vision is not just about ideas, but also the ability to create the plan to make it happen.

New business ideas are often inspired with the realization that a product can be improved, a service enhanced or a company can run more efficiently. Take that awareness and build a strategy that includes specific steps and a game plan. Share your vision and plan with others and see if they share your optimism.

2. Passion

Successful entrepreneurs are purpose-driven. They understand and truly believe in their product or service.

Entrepreneurs are motivated. Without motivation, the enthusiasm and energy needed for your start-up can fade. Focus on your purpose and your vision for success, repeat them to yourself and tell everyone involved about them. Your passion to impact the world around you will inspire others.

3. Drive

Some call it goal-oriented, others say obsessed.

Drive is the focus that helps new small business owners keep moving forward when they’ve heard “No” for the 20th time.

It takes determination, discipline and resiliency to make it to “Yes.”

4. Strength

“A diamond is just a lump of coal that stuck to its job.” - Leonardo da Vinci

You will find many entrepreneurs have a competitive nature and are results-oriented.

Perseverance combined with passion and drive strengthens character. Your character and overriding sense of purpose will help you through early frustrations and difficulties.

5. Leadership

When you lead by example, you create a picture of what's possible.

Whether it’s investors, customers or employees, knowing how to communicate clearly is an essential skill for leaders.

It enables connections with those who can help turn your vision into reality. True leaders also encourage others by mentoring with integrity and sincerity.

Know that most successful entrepreneurs didn’t have these characteristics right out of the gate. You can develop skills, improve processes and learn to be adaptable and open minded for inevitable changes.

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