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18 Habits of Successful Small Business Owners – Find Out

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Habits of Successful Small Business Owners
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One unique class of business people who are contributing massively to the progress of nations today are small business owners.

Similarly, over 75% of big companies today still depend on small business owners for distribution, marketing and sales of their products and services.

Its also important to recall that the big industries we see today all started as small business owners who gradually grew to become world class business cooperation.

These are entrepreneurs who took the pain of starting a business from scratch and growing it to become multi-billion and trillion dollar companies.

Also, if you’re in between the lines of quitting your job to start up a business, here are some 8 killer truths to know before quitting your job.

In this article, you’ll find 18 habits of successful business owners you can cheaply model to become successful in your daily living.

These habits will reveal to you on how to run a successful small business and how to make your small business successful, so let’s get started.

18 Powerful and Unique Habits of Successful Business Owners:

Habits of Successful Small Business Owners
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18 powerful habits of successful entrepreneurs who run big and small businesses.

1. They face and conquer criticisms and misunderstandings:

Starting up a business and running it successfully demands some level of abnormalities.

Similarly, you might find critics who simply don’t understand what you do and find a way to bad mouth it.

A large percentage of small business owners today get misinterpreted for several reasons. It could be because their business ideas sound crazy, impossible and unrealistic.

Many others will misinterpret you because of your marketing style, sales techniques and product and service branding.

The bottom line is simply, not everyone out there is meant to understand why you do things the way you do them, Hence, don’t get angry when people go against your will.

Therefore, it’s recommended you don’t back out from your plans, visions and goals to become a successful business owner.

Successful business owners keep up the good job.

If you don’t want to be criticized, don’t do anything new or interesting.

Jeff Bezos, Multi-billionaire E-Commerce Giant, Founder of Amazon and Blue Origin

2. Become your own cheer leader:

Successful small business owners are always their own motivator and cheer leaders.

They are self encouraged, energetic and willing to carry out their day to day business operations without any external push from people.

If you always need encouragement to carry out any task then don’t go into entrepreneurship because you will surely give up within a short period of time.

You might encounter troubles, difficulties and challenges that would almost break you down, however you must learn to always stand high to take your business off the ground.

I like the story of Robert Kiyosaki when he started his first business in his early days with his friends whom he thought were entrepreneurs.

According to Robert Kiyosaki, this failed business leads him to pay a huge debt of $800,000.

However, he moved on while his friends whom he thought were entrepreneurs failed and went back to their jobs.

Therefore, he took the knowledge he acquired from his crashed business to his new business and that was how he paid off his $800,000 in debt.

Keep your face always towards the sunshine and shadows will fall behind you.

Walt Whitman

3. Small business owners keep late nights:

How often do you sleep? How long do you sleep? When do you wake up?

Ask most successful entrepreneurs and business owners today, you will discover they have one thing in common; they kept up late at night.

Hence, don’t try to run a business if you sleep too much, you can’t afford to dive into something you’ll not hold for a longer time.

Successful business owner’s sleep late at night, they must balance their account for the day and plan for the next day.

They must reply to emails, attend to customer queries, hence you might even wonder what time they reserve for their personal life.

That’s the price of success in business and entrepreneurship.

4. Early mornings:

Just don’t think after sleeping late at night you will be free enough to wake up at sunrise in the morning.

Oh no, don’t even think about that, you must get yourself off bed early enough to get ready for the day.

You are the boss, you wouldn’t want your management to fail, and you’re the head of human relations, marketing and sales. You check the income and expenses of your business.

Also, you still keep to appointments booked by your secretary.

It’s now obvious that all these responsibilities require time and dedication to arrive at success.

5. Successful small business owners beat stressful situations:

It takes the heart of a lion to win your challenges. Many times you might feel overwhelmed and stressed out.

You could be stressed out by your digital marketing needs, management plans, customers retention scheme, getting new customers and fixing a clients faulty job.

Whichever way it is, don’t feel strange, many entrepreneurs and business owners have managed to survive it, you too can.

The best way to overcome this challenge is to create a productive work plan, make daily schedule of your activities and follow suit on them.

Therefore, I prefer you use the principle of scale of preference as used in economics, just do the most important task first before others.

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6. Questioning your sanity:

There are no limits to what you can accomplish except the limits you place on your own thinking.

Brian Tracy.

Some ideas look too crazy to be true. Just imagine the invention of the first aircraft. Am sure the inventors sounded weird to negative minds when they thought about a flying machine carrying people

You’ll have to think outside the box to create your own dreams as an entrepreneur, you will sometimes wonder if that is the right step to take.

That’s the power of entrepreneurship. Ideas will flow in dimensions that will make your families and friends see you as a crazy person, but that’s the deal.

7. Small business owners wouldn’t sell their integrity, no matter your offer:

Successful business owners and entrepreneurs value their reputation and integrity. They will never do anything to destroy their good name.

This is why it is common among small business owners to detest from offering inferior services or less quality products to customers.

It takes more time to build a good name compared to the time of destroying it, hence entrepreneurs and business owners protect their reputation as a business property.

Lack of integrity in a place of financial transaction is one of the 6 most painful ways people lose money without knowing.

8. They outsource jobs to provide more time for important work:

Both big and small business owners outsource jobs because they might have little or no time to do menial task.

Outsourcing some less important jobs affords them the opportunity to devote more time, energy and resources into the most important aspect of their business for greater productivity.

Most small business owners barely have the time to even create a mere business Logo. Others are too busy to even prepare their account sheet, hence they seek for outsourcing.

They outsource jobs in categories such as human resources (HR), advertising, graphics, accounting, sales and marketing.

9. Entrepreneurs and small business owners are book lovers:

Highly successful business owners, entrepreneurs and investors are known to be book lovers.

Warren buffet still reads about investing in-spite of being called the world most successful investor.

Bill Gates, the founder of Microsoft still reads daily, he studies books on detailed researches, technology, health and inventions to best improve mankind living.

Therefore, it’s easy to pick this trait as one major habit of successful business owners.

10. They are highly hard working:

According to Thomas Edison, “there is no substitute for hard work”.

If you can’t work it you can’t earn it. As an employee, you only need to work for 8 hrs per day; however both big and small business owners work a minimum of 12 hours daily.

They work for 12 hours; other even go crazier working for 16 hours per day. This is one reason they are always occupied and requires a well schedules appointment to do business with them.

Entrepreneurs are the crazy people who work for 16 hours a day because they don’t want a paycheck.

Elon Musk, CEO of Tesla, Space X, The boring company e.t.c

11. They work on giving more value to customers:

Real business owners understand that customers are the life wire of a business.

Also, a business that lack customers will likely die, hence they invest in customer’s satisfaction to keep bringing them back.

Most of the big business brands today have little or no time to attend to customers on social media platforms because of their busy schedule.

One of the major habits of small business owners is their ability to maintain their customers even one on one communications.

Small business owners are good players in customer relationship management.

Hence, they take advantage of this business skill to competitive favorably with big brands.

12. They love what they do and are naturally motivated:

It takes passion to do business and succeed in it.

The passion to work serves as a booster for small business owners.

Business owners turn their passion to income streams. It takes passion to do entrepreneurship, ask many business owners about their early days and they would tell you shocking stories.

Many successful business persons you see today failed and failed in their businesses till they learnt how to succeed,

They are always motivated to work on their dreams till they arrive at success.

13. Successful entrepreneurs and small business owners are good team builders:

Entrepreneurs are good team leaders
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A photo of Jeff Bezos with a team of working staffs. Photo Credit: Google

Successful business owners and entrepreneurs never work alone, they build a team.

They build a team or call it a network of competent personnel who join them in carrying out the task to succeed in their businesses.

These team or network of people put hands together to create their own vision and bring impossibilities to reality.

Team building is one of the most valuable traits of leadership, hence successful business owners are good leaders.

14. They always have a schedule so don’t think you can ever bump on them:

Don’t think you can always bump on business owners without a planned scheduled appointment.

Do you schedule your daily activities? If no then I advice you start now. This is one unique habit of successful business owners.

They schedule their appointments, outings, meetings and engagement and plan them according to time.

It’s a very bad idea to jump on an entrepreneur or a business owner for an un-booked appointment because you’re likely to get turned down since they might be fixed up already.

15. They believe their dream is worth it all:

Have you ever felt like giving all you’ve got in pursuit of a particular vision? This is one habit I cherish so much about business owners.

They hardly quit when in pursuit of any given task. It’s easier for an employee to drop a task all in the name of stress or too much workload than for a business owner to do the same.

These are people who are dodged focused, you can’t push them back, and they are ever ready to win at any mission.

16. Get ready to lose friends:

Its sounds crazy to know that successful business owners are people with fewer friends, they keep less companies and work with common minds.

Hence, as they grow in business, it affects the kind of relationship they keep, who they plan with and who they sign deals with.

This will ultimately reduce their friends and define the standard of people they mingle with on a daily basis.

No wonder a common proverb that says “the association you keep determines what accompanies you”.

Therefore, sit quietly to examine the first 5 friends you have today, it’s likely that your life can’t be better than the life of the people on that list.

17. Business owners always show up even when the odds aren’t in their favor:

WHEN SOMETHING IS IMPORTANT ENOUGH, YOU DO IT EVEN IF THE ODDS ARE NOT IN YOUR FAVOR.

ELON MUSK, CEO OF TESLA MOTORS

Business owners are always available to deliver values to customers at any given time. Successful business owners are known to always show up.

It takes the heart of a lion to turn up even when things are bad.

Not minding the circumstances, they are ever ready to give their time, energy and resources to solve a problem.

18. They pay attention to unhappy customers:

Bill Gates once said your most unhappy customers are your greatest source of learning.

Hence, real business owners pay attention to all customers but put more interest on feed backs from unhappy customers.

The negative feed backs from unhappy customers are used as a growth measurement tool for improving products and services.

Your most unhappy customers are your greatest source of learning.

Bill Gates, Co-founder of Microsoft

ALSO READ THESE ARTICLES:

Sales and Marketing Management Tricks that Works

20 Hidden Characteristics of an Entrepreneur with Proven Success

Difference between Assets and Liabilities that makes the rich richer

How to become a Network Marketing Professional in 12 Months

12 Fantastic Ways of Getting Money to Startup a Business.

Final Thoughts:

It has become normal to see successful business owners and entrepreneurs exhibiting these unique business attributes that aren’t common to all, however it takes the mindset of entrepreneurship to rule your business.

What aspect of this habit are you currently exhibiting? Hope you don’t mind sharing it? Drop it at the comment session.

Also, what aspect of the 18 habits listed here is already common to our ways of doing business?

Did I miss anything; contribute by dropping it at the comment section.

Also kindly share this article to loved ones; you might be helping someone without knowing. Remember to also hit the share button, thanks.

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2 Comments

  1. Considering that eight out of 10 businesses fail in the first 18 months of operations and only 4 percent of businesses make it to the 10-year mark, the habits you employ in business can quite literally make or break you. This isn t some subjective list. Rather, it s based on empirical data from the world s most successful entrepreneurs.

    1. Thanks for your comment Nijel, you made a good point, it’s no doubt that businesses succeed faster by reason of the habits of those in charge, what do you think can lead to failures in business within their first 18 months of operation?

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