7 Attributes of Very Successful Business Owners

Aliko Dangote, President and CEO of Nigeria’s Dangote Group speaks during the final session of the World Economic Forum
Image credit - Ventures Africa

Passion, motivation, persistence and a little bit of luck all play a part in separating the successful business owners from the ones who aren’t so fortunate. But, what makes some business owners super successful?

They possess the following seven habits:

1. They’re up before sunrise.

Successful business owners and leaders are known to arise early in order to catch that proverbial worm. But, they don’t just wake-up early. They wake-up long before the sun rises. The reason? It gives them time to respond to emails, catch-up on the news or workout. Research has found early risers are more productive and happier.

2. They’re not afraid of competition.

Richard Branson, the founder of the Virgin Group, has said, “If you want to be successful in business, you need to welcome your competition with open arms – just don’t let them walk all over you. Strike the right balance between respecting your rivals and focusing on how you can beat them, and you’ll have a winning formula.”

3. They welcome harmless distractions.

Business owners need some time to decompress, recharge and sometimes master a repetitive task. Not only does this help them work on practicing incremental development, it’s a good distraction that will free your mind. Instead of being stuck on a problem, partaking in a harmless distraction gets the creative juices flowing.

4. They know to compensate for their weaknesses.

Great leaders are not well-rounded individuals. They have not become world-class leaders by being average or above-average in different aspects of leadership. They’ve become world-class in a relatively limited number of areas of leadership. They’ve recognized not only their strengths but their deficiencies, and they’ve successfully identified others who can help them compensate for those deficiencies.

5. They’re generous.

Have you ever noticed that the best business owners are very generous? This doesn’t always have to be with money but can be with time, connections or even simply encouraging others.

6. They mostly say “no.”

Business owners have to play nice with vendors and customers, but that doesn’t necessarily make them “yes men.” As Warren Buffett has famously said, “The difference between successful people and very successful people is that very successful people say, “no,” to almost everything.”

7. They don’t waste time with small decisions.

Business owners know how to stay mentally and emotionally sharp throughout the day; they don’t waste their time making small, trivial and unimportant decisions.

Here is to being the best business owners that we can be!




Source: Entrepreneur

Tags : EntrepreneurJohn Rampton

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