7 Secrets of Successful Business Owners
I love studying successful people. In fact, I’ve made it a lifetime habit and in doing that, I reckon I’ve uncovered the 7 key secrets to being a successful business owner.
I hope they provide inspiration to you as we enter Q2 of 2016. Yep, Q1 is nearly done and dusted. Arghhhh, the year is going too fast. Do you agree?
Secret 1: Self Belief
Successful business owners always believe in themselves, and often they think BIG! They have great vision. They have an unrelenting belief that they will achieve everything they set out to do. They have a single minded commitment to their dream and vision, and an unshakeable passion for what they are doing.
They also take massive action. They are not afraid of failure. You see, for every mistake they make, they learn the lessons and move on. (Hmmmm……many of us could take a lesson from this).
Secret 2: Set a Goal and GO!
Successful business owners set goals; they make decisions and they act. Then they quickly evaluate the outcomes. If the goal and action were wrong, they alter the course of action, and move on. Movement and momentum are keys.
Successful entrepreneurs are in a hurry. They have a ‘go-for-it’ or ‘get-out-of-it’ attitude!
Secret 3: Stand Out
Successful business owners step outside the box and head the other way – they don’t copy others. They break the rules! They forge new and exciting frontiers, or they find new and interesting ways of doing things.
They also network widely because they’re increasing their net-WORTH in doing so – not just in monetary terms, but as an expert in the market. They build a rock solid reputation as more people get to know them.
They’re strong relationship builders. Have you ever watched a successful business owner at a networking event? They will ‘work the room’, getting to know as many people as possible. They are beginning the process of building relationships that are for two way benefit. They’re genuinely interested in the success of others, and will support others towards their success.
Secret 4: Seize Your Market
Successful business owners have a laser focus on the market that they are in and want to conquer. (Nicheing is key here). Consider the difference between a machine gun that scatters bullets versus a snipper gun that aims and hits the target. They’re snipers!
Most importantly, they give value. For every $1 spent they want to ensure they give at least $5 in value back to their customers. They come from a position of service. It’s all about the customer experience.
Customer profitability is also key; they get to know their customers and in doing so, will understand how they can add further value to their customers, which of course leads to increased profitability, and at times, new product/service ideas.
Follow-up and feedback is key! Successful business owners are fuelled by customer feedback, as it helps them improve their products and services.
Secret 5: Strong Leadership
As leaders, successful business owners impart their vision to staff, customers and other stakeholders. They are positive and they can tolerate ambiguity. They’re very flexible and able to change direction when necessary in order to achieve their vision.
Successful business owners surround themselves with excellent managers; they build top notch business teams. They are not afraid to have very clever people working for them. They are excellent delegators too.
Successful business owners recognise the importance of strong business management, including: financial management, marketing/sales management, operations management and customer service. With the advance of technology, they drive their businesses hard in terms of systemisation, automation and where possible, outsourcing non core functions. They create processes that are replicable through systemisation.
Secret 6: Sacrosanct: Time!
Time is money, and successful business owners understand the value of time. They know how to focus on what is important and where they should spend their time and energy. Successful business owners leverage other people’s time.
Secret 7: Self Improvement
Successful business owners spend time improving themselves. They’re attracted to ongoing learning and knowledge in all its forms.
They also allow time to re-energise. They take time out with family and friends, and for recreation.
These days many successful business owners also take their health seriously, and include exercise as part of their daily routine.
7 Secrets in the 2nd Quarter
As we head into Q2 in 2016, I hope these 7 secrets help you to achieve your business plan for the rest of the year.
One of my favourite quotes is: Dream It, Believe It, Work It, Achieve It! I think that sums up the 7 Secrets in a nutshell. What do you think?
QUESTION: What’s your business vision, and what must you achieve in Q2 to bring it to life? I’d love to hear your thoughts, so please leave a comment below.
Would some guidance from me be helpful to you? If so, please arrange a free 30 mins Skype strategy meeting with me. Here’s my calendar to make an appointment. I’d love to support you in some way to gain ‘seductive clarity’ in any aspect of your business or life.
