5 Traits of Highly Successful Business Owners

What makes some business owners more successful than others?

Over the past 20 years, I’ve worked with nearly 400 business owners.

I’ve noticed that there are certain traits associated with stand-out success.

The owners who triple the size of their business, or 10x it, or simply free up their time have a few things in common.

Here are 5 of those “success traits.”

How many do you have? Do you see anything you need to work on?

1. Willing to Grow and Change

“What got you here won’t get you there.” ~ Marshall Goldsmith

Successful owners realize that they need to grow and change.

They’re willing to step outside of their comfort zone and do things they haven’t done before.

This might mean holding a daily huddle, learning how to read financial statements, or putting more time and energy into sales.

Building a successful business requires a commitment to life-long learning.

2. Willing to Take Risks

Growing a business requires some risk-taking.

You take a risk when you hire a new employee: will they work out? Will you continue to maintain the revenue you need to pay them?

You take a risk when you take on a new contract for a project you haven’t done before: will you be able to deliver? Can you build the capacity?

Successful owners trust their intuition and take measured risks.

Then they do what they need to do to make it work.

3. Don’t Let Perfectionism Get in the Way of Action

Some people pay lip service to change.

They say they want to change but they don’t take action and do what is necessary.

Often this comes from wanting to get everything perfect before starting – which leads to procrastination and over-thinking.

Successful owners recognize that perfectionism is a type of fear and they move forward in spite of it.

4. Have a Strong “Why”

People can stay stuck in bad situations for a very long time before finally taking action.

They know they should do something different, but they don’t because fear gets in the way.

So they put up with it until one day it gets so bad that they finally say: “I don’t know what’s on the other side of this, but I can’t do this anymore.” And then they finally make the change.

Successful owners understand the formula for change.

They know that they need to have a “why” or a greater benefit that is more important to them than the fear associated with the actions they need to take.

5. Value Accountability and Outside Support

High achievers value accountability. They want outside perspective and feedback.

Successful business owners hire business coaches for the same reason that people who are serious about getting fit hire personal trainers.

They understand the importance of having someone to hold them accountable, to challenge them, to give them perspective, and to push them beyond their comfort zones.

The value you get out of a coach or a personal trainer is the appointment. Someone’s going to hold you accountable. It’s 10 o’clock, it’s your time, let’s get to work.

Are you ready to get to work?

Book 15 minutes on my calendar to talk about coaching: Book a Call with John