Everything Financial


What It Takes To Be A Successful Small Business Owner

Written on the 16 March 2017

By Glenn Ebersole

Did you ever wonder why some small business owners are so successful and are always steadily growing their business, as compared to others who constantly struggle to manage and grow their business? In my research and in reflecting on my own business coaching experiences I have found that there are several key characteristics of successful small business owners:

  • They are visionary and have the ability to create a clearly defined vision for their business. They see the value in clearly defining the strategic focus for their business.
  • They are never 100% satisfied. They are committed to continuous improvement in their business. They are aware of their successes and do celebrate their successes, but they are always looking for ways to improve their services and products, their systems and processes, their customer service and other aspects of their business.
  • They are lifelong learners and always look for the "lessons learned." They are not afraid to make a mistake or to fail. Truly successful small business owners rarely, if ever, experience a "straight path" to their success. More common is a "hazardous and winding road" with failures and obstacles along the way.
  • They seek advice from business coaches, mentors, and experts. The successful small business owner realizes he or she cannot be an expert in every aspect of their business.
  • They are optimists. This is especially true of entrepreneurs who own small businesses. They seem to always see the glass as half full, rather than half empty.
  • They hold themselves and others accountable. This is a rare characteristic of small business owners. Most small business owners are accountable only to themselves, which means they are not held accountable.
  • They continuously build relationships. One of the key marketing strategies deals with building relationships and this must be a continuous activity.
  • They create opportunities rather than waiting for the opportunities to come to them. Even in crisis situations, the successful small business owner will look for and create opportunities.
  • They are effective strategic thinkers and planners and apply the principles of strategic thinking and planning to their business on a daily basis.
  • They are excellent listeners and really hear what their clients say. They have a commitment to understanding what they have heard.