7 Habits of Successful Business Owners
The elusive dream of business success captures the imagination of aspiring and existing business owners everywhere. A vision of flowing profits, industry respect, thrilled customers and a balanced life. This vision is only possible by developing habits that drive business success. Take the time to learn these seven habits of business success.
Habit 1. Cultivates Inner Networks
Entrepreneurs practicing the art of business success know the power of networks. They take the time to identify and build relationships with key peers, mentors, and advisors. This inner network provides support, direction and an increased number of people to assist. Having an inner network of five people who have a network of five more, grows the network exponentially.
Habit 2. Becomes Customer Centric
Business success requires an unwavering commitment to the customer. This commitment encompasses a mindset of understanding the customers' world. Understanding the customers wants and needs provides the business with a greater opportunity to earn a loyal customer base. Focus away from business and profits, and toward what you can do to improve the lives of your customers.
Habit 3. Acts with Humble Honesty
Business success requires the ability to know your strengths and weaknesses. Being open and honest about yourself and your business creates growth as an individual and as a company. Don't spend time developing weaknesses. Find help for weak areas, enabling you to focus on strengths. In the book, "Now, Discover Your Strengths," Gallup Organization reveals that building our strengths instead of fixing our weakness is the path to mastery and success. Take the time to know yourself and business.
Habit 4. Fosters Adaptability
Business success requires the ability to adapt to changing situations. Nothing ever goes exactly as planned. The world of business is full of surprises and unforeseen events. Using the habit of adaptability allows business owners to respond to circumstances with the ability to change course and act without complete information. Being flexible allows us to respond to changes without being paralyzed with fear and uncertainty.
Habit 5. Focuses on Opportunities
Problems are a regular part of business life. Staff issues, customer misunderstandings, cash crunches -- the list is endless. To achieve business success, look at both sides of the coin. Every problem has an opportunity. Being opportunity focused makes the game of business fun and energizing.
Habit 6. Finds a Better Way
Productivity is the cornerstone of business success. Formulate the habit of finding a better way to make your business more productive. This will create more time to focus on the critical issues that drive sales and profit. Productivity can be enhanced by technology, automation, outsourcing and improving business processes.
Habit 7. Balances Lifestyle Management
A business can consume an owner's time and energy. It's easy to allow the business to take control of your life. Business success requires the habit of balancing all aspects of your life. Separating time for daily business tasks, profit driven tasks, and free time is a habit that will make your business and life more enjoyable. Take the time to plan each week.
Learning and instilling new habits in your daily business life can have a dramatic effect on your level of success. Review each of the seven habits, and choose one habit to focus on for a month or until you achieve mastery. Gradually incorporate each of the seven habits of business success into your life and you will attain your business dreams.
Edited by Alyssa Gregory.