1 – They Closely Monitor Their Finances
Always be aware of your finances. Successful owners can determine the health of the company by knowing the profit margin.

2 – They Are Collaborators
You don’t need to be a business genius or have an MBA from Harvard to own successfully and run a business. But you need to know how to work with other people. That’s the secret of success for most small businesses.

3 – They Are Committed to Lifelong Learning
It’s never too late to learn and grow as a small business owner. Successful
entrepreneurs are always looking for ways to improve their skills, increase their knowledge, and keep an open mind about new ideas.

4 – They Are Confident
They are certain of themselves and their abilities to give them an edge for
success as a small business owner. This certainty gives them the confidence that breeds success.

5 – They Are Customer Oriented
Customers look not only for solutions to their problems, they want a great
experience throughout the buyer’s journey, to the eventual use of your service or product. They’re looking for someone who is knowledgeable and trustworthy; someone who’s not just going through the motions but understands their needs and delivers on their expectations.

6 – They Delegate
Technology has made it possible to do more than ever before, but you are only one person. Delegate tasks to others by hiring virtual assistants, using
outsourcing, or delegating work internally.

7 – They Are Passionate
You may wonder what it takes to start a successful business. Well, I’m here to tell you that there is no secret formula or magic bullet. It’s all about being passionate about what you’re doing. That passion will translate into working smarter, and will eventually lead to success.

8 – They Are Flexible
Every successful business is constantly evolving. The best small businesses are those that embrace change and use it to their advantage.

9 – They Focus on Goal Achievement
What is a goal? They simply define a goal as an event, or a result that is
attained by effort. The more you work towards achieving something, the closer it becomes and eventually happens. They know it’s important not only to focus on how they will achieve their goals, but also why they want them.

10 – They Focus on Priorities
Startup businesses face a lot of challenges and distractions. With all the work to be done, it’s tempting to get distracted by small, time-consuming tasks that don’t really matter in the grand scheme of things. However, if you’re able to stay focused on what is important and prioritize your workload, then you’ll be more successful as a business owner.

11 – They Invest in Marketing
Marketing is a key component of the success of any small business. Successful owners want to make sure that people know about their company, what they do and why people should use their product or service. Successful owners always see this as an ‘investment’, and not a ‘cost’.

12 – They Invest in Technology
The success of your business calls for having the right tools. To be successful, you need to invest in technology that will improve your business management and productivity. This is another area where they see it as an ‘investment’, and not a ‘cost’.

13 – They Keep Work and Family Life Separate
One of the major ‘Why’ reasons for being a business owner is family. When at work, running a business, the successful owner is there and focused 100%, because of their desire to provide for their family. When they are home, and with family, they are there 100%, because that’s one of, if not the main reason, they are business owners. Successful owners have control of the ‘SPDT toggle switch’.

14 – They Are Motivators
The successful small business owner is a motivator. They’re the ones who have an endless supply of energy and enthusiasm for their work, which they use in order to get others excited about what they do.

15 – They Are Open Minded
To be an entrepreneur is to take risks in order to succeed—but many people don’t realize that being open-minded is just as important as taking risks. When you think about it, how can you take risks if your mind is closed off?

16 – They Have Patience
The thought of being patient in your business is a tough pill to swallow. You want success now and are too busy with other areas of your life that need attention. Patience pays off tremendously in business, whether it be your attitude or how much time you spend on marketing.

17 – They Are Psychologically Resilient
What is resilience? It’s defined as the ability to recover quickly from difficulties; toughness; power of endurance or recuperation. The most important element of being resilient is your mindset: What do you think about yourself and your life? If you believe that your future success depends on external factors such as luck, then your level of resilience will most likely be low.

18 – They Are Relationship Builders
The most successful entrepreneurs are relationship builders. They build
relationships with their clients, customers, and suppliers. The risk of NOT
building a relationship is that your customer or supplier will take their business elsewhere. Relationship building takes time, but the rewards are worth it.

19 – They Are Risk Takers
This is important for new business owners, entrepreneurs, and solopreneurs who may be timid or have a low tolerance for risk in their own lives. It’s also worth noting that the people who make it big often do so because they will go all in and take some enormous risks.

20 – They Seek Advice from Experts
Sometimes it’s just too hard to figure out everything yourself, or even worse—sometimes you’re not aware of all the things there are to know. Successful owners reach out to more knowledgeable colleagues and mentors for input.

21 – They Are Self-Motivated and Self-Reliant
Self-motivation means being proactive and having a plan, so there are no
surprises when it comes time to execute your strategy. The successful small business owner doesn’t wait around for other people or things outside themselves in order to move forward in life; they just take action. When you’re running your own show, the buck stops with you.

22 – They Seize Opportunities
A successful small business owner can recognize opportunities and quickly take action. They are constantly looking for ways to make their business more profitable, by implementing new strategies, finding new customers or markets, testing new products or services that will improve the customer experience.

23 – They Are Success Driven
Working long hours, sacrificing personal time, taking risks; they’re willing to take on all the steps in order to achieve their goals. With persistence and the will to do what it takes, there is nothing stopping them from achieving success.

24 – They Think Outside the Box
As a small business owner, you’re constantly faced with new challenges. It’s your job to find creative solutions that help your business thrive and grow. One of the best ways successful business owners do this is by thinking outside the box and approaching problems in unconventional ways. Think creatively so that you can keep up with all of those unexpected curveballs life throws at you.

25 – They Have Unique Perspective
Successful Business Owners have figured out how their business operates
more distinctively than other companies in their niche market. They can
articulate why people should choose them over anyone else who offers similar products or services. They know how to set themselves apart from their competitors by offering something different.

26 – They Are Visionaries
Become the successful small business owner that is a visionary thinker who can see what’s coming before it happens, and changes things up in order to stay ahead of the curve. Become a farsighted businessperson.

27 – They Know the Difference Between Failing and Failure
If you believe in the adage ‘Back to the drawing board’, then you believe that failing is an important step towards eventual success. If you decide to abandon your goal because of a failed attempt or several, then unfortunately, you will be a failure.

A Word About Timely Decisions
Where ever you see yourself in life, you’re there as the result of YOUR decisions or indecisions. Many of the 27 Essential Traits are realized after a timely, well advised decision is made.
Improve upon your business related decisions by connecting with experienced business people. People who donate their time and expertise to help you through Mentoring and Consulting services.

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