When looking into an industry, there are always a few businesses that stand apart from their competitors. So what is it that makes those few stand out, ahead of the pack? I would say that a great deal of it has to do with how great their management and leadership is. Owning a small business can be very difficult endeavor and there is no secret or one way to run a successful business. If there were a sure way to make your self a successful business owner it would entail these seven habits. Note that I did read this article in Forbes Magazine, but this is my spin on it.
- Take care of your self: Smart business owners understand that in order to have or prolong a sharp mind it begins with the body. They pay attention to their eating habits and make sure they are consuming healthy product. They make time for physical exercise. Lesser business owners would think of this as a waste of time, but its necessary actions to take in order to keep a sound mind.
- Have a life outside of the business: Spending too much time focusing on your business or work is bound to lead to a mental breakdown. This means make time for other interest outside of work. Get out side of the office or step away from your place of business for the day and give your brain a break from work. You never know you might stumble upon a great idea for your business.
- Look Forward: To own a small business means you have to be a great leader. To be a great leader means you have to be bold and innovative. Sometimes you have to dare to take proven business strategies past their limit. Some of the best small business owners are those who experiment, pioneer, and look for new ways to do things. You have to be willing to take chances.
- Organized: Sometimes you can have a million of innovative ideas, but you don’t know which one to run with first, leaving yourself scattered. There is difference between a smart business owner who fails to put their ideas in to action and smart business owner who comes up with an idea and follows through with it. Keeping your meetings, deadlines, and business plans on highly organized schedule is what will separate you from a poor business owner.
- Nurture your relationships: When running a business it’s so easy to get caught up in work and forget to step away from the office every now and then. It is important to make time to stay in touch with clients and professional associates.
- Make Decisions: As a small business owner you have to be decisive. You can’t sit around wasting time, out weighing your options, or questioning your actions, your job is to lead your company and make decisions that will benefit your company. You just have to be confident and believe in yourself. Whenever you feel in doubt remind yourself of your past achievements and tell yourself you are the expert.
- Cut the fat, Slim the process: Business owner need to be proactive. Constantly looking for parts of their business that they can improve upon. Which vendors or suppliers you can switch for greater ones or how to divide work accordingly. Be organized; know how your company’s time, workers, and financial resources are distributed. Making sure that your process remains efficient at all times is how you stay ahead of the game.
In a previous blog I write about common traits of a failing business. Both blogs have a similarity and show you the difference between a successful business and failing business.