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The Five Habits You Need to Be a Successful Business Owner

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By Kayla Matthews

Success as a business owner entails developing great habits that promote efficiency and productivity, as well as an ability to fairly and effectively communicate. Acquiring these traits is easier said than done, but entirely possible for a motivated business owner seeking success.

Efficient, professional business owners share several habits and traits that contribute to their success, including:

1. Enthusiasm for Local Partnerships

Business owners should play a strong role when partnering with local establishments, which can build local buzz and attract loyal customers. It’s a good idea to strive for exposure that fosters word of mouth exposure, which is what partnerships can accomplish. For example, a Nielsen report found that consumers are 90 percent more likely to trust a brand recommended by a friend.

Local partnerships and engagement can provide personal recommendations, both by using opportunities to connect with new customers and showing a genuine passion for the local community. Owners seeking to have a more prominent presence locally should work on their habits relating to community involvement, specifically outgoingness and openness to partnerships.

2. Learn When to Move On

Stubbornness is not a good trait for business owners to have, especially when it comes to sticking with a particular business strategy that’s not working for too long. A good business owner works on their habits of prudence, especially if they identify key performance indicators and conclude that a specific strategy is not working well.

Similarly, a savvy business owner adjusts with trends in their industry, instead of stubbornly clinging onto relics of the past. Business owners should be progressive and quick-thinking while embracing the learning experience aspect of failure instead of lingering too long on that failure.

3. Opportunistic Drive

Being opportunistic is another habit you need to be a successful business owner. A great way to work on this habit is to set aside time each week to educate yourself on new technologies, in addition to examining emerging trends in your industry.

Although the day-to-day tasks of a business can drain an owner into focusing on the now instead of future opportunities, savvy business owners always take some time to examine new technologies with the potential to save time, reduce operating costs and take the business to the next level.

4. Willingness to Hear Advice

Even very successful business owners can learn something new by speaking to others, from fellow business owners to younger consumers who may provide insight regarding a specific demographic of which the business owner may be unaware.

Business owners that close themselves off to new knowledge and rely fully on their own experiences are likelier to fall behind in their industry. Embracing advice or a mentor figure, in the form of a local mentor or business advisor, can provide additional perspectives that help aid important business decisions.

5. Boost Your Mental Health

Business owners often have a whirlwind of tasks and obligations, which can cause long-term stress that impacts both physical and mental health. It’s a good idea to develop habits that help in boosting mental health.

Eating breakfast is a habit that many overlook, despite breakfast being great for mental and physical health, resulting in improved concentration, enhanced memory and advanced cognitive abilities. Only 33 to 48 percent of Americans regularly eat breakfast, so business owners should strive to ensure they are part of that group by eating a healthy breakfast.

Help Yourself and Your Business

Business owners that aspire to greater success should work on these five habits, which promote quality exposure for their business, in addition to greater opportunities and a better foundation for mental and physical health. The result will be someone running the business who is equipped to handle anything that comes their way.

 

About the Author: Kayla Matthews writes about communication and workplace productivity on her blog, Productivity Theory. Her work has also appeared on Talent Culture, MakeUseOf, The Muse and Fast Company.

 

Featured image: Photo by Brooke Lark on Unsplash

The Secret to Progress You Can Start Today

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Rosemary O’Neill

There is one tiny change you can make to your daily life that will have a huge impact on your success. In work, in relationships, and in family life. Lean closer, because I’m going to have to whisper it.

Look back.

The Secret to Progress You Can Start Today

My car has one of those built-in video screens so that I can see what’s behind me when I’m backing up. Skateboards, basketballs, and even the occasional kid have all survived my driveway because of this rear-vision feature.

We’re all told constantly to plan, set goals, look ahead. And in these next few weeks you’ll be barraged with people telling you to sit down and create a roadmap for 2013.

But before you do that, it’s essential to grab a cup of coffee and review 2012. How can we ever savor life, see our progress, and learn from our mistakes and successes if we don’t ever take a moment to look for them?

Daily Gratitude

At the end of every day, as you’re settled in bed and closing your eyes, take a couple of minutes to think back and be grateful for the day just passed. Give yourself a high five for any accomplishments.

Weekly Review

At the end of every week (I do it on Sunday afternoon), sit down and actually write out your successes. Write down lessons you learned during the week. Write down things you meant to do but didn’t and figure out why. Write down things that happened that made you feel awesome.

Monthly Check-in

At the end of the month, glance through your weekly review notes, as a reminder of your progress and things you’ve learned. It will solidify the lessons learned and give you a boost going into the coming month.

Yearly Wrap-up

Almost everyone starts the year with some sort of vision or goals (let’s not say resolutions anymore, ok?). But do you ever sit down at the end of the year and see how you did? So maybe you didn’t finish that novel, but you did publish your blog three times a week. It’s ok to celebrate that. And since you have your weekly reviews in front of you, you can really see and remember everything. Before I started writing these things down, I wouldn’t have remembered some of the minor victories that really stack up.

Do you take time to look back? Do you have any review tips to share?

Author’s Bio: Rosemary O’Neill is an insightful spirit who works for social strata — a top ten company to work for on the Internet . Check out the Social Strata blog. You can find Rosemary on Google+ and on Twitter as @rhogroupee

Thank you, Rosemary!

You’re irresistible!

ME “Liz” Strauss