7 Common Characteristics of Successful Small Business Owners

7 Common Characteristics of Successful Small Business Owners

Small business owners must embody and use various skills and traits to keep their businesses in operation. Every business is unique and poses its challenges, but there are traits that many successful business owners have in common. 

Whether it’s struggles over payroll, disappointing results from a marketing campaign, or just bad weather that ruins an event,  hardship is a day-by-day experience, not a rarity. Good business owners get back on the horse when they fall off; great business owners can fall off the horse a thousand times, and on the thousand-and-first time, climb back on board more determined than they were the first time. Below, we look at common traits of successful small business owners.

1. A Collaborative Spirit

Small business social media collaboration is the process of cross-promoting content. This involves sharing, liking, retweeting, etc., each other’s posts and pictures to reach the largest audience possible. Combining each other’s fan bases increases your exposure and the likelihood of your customer base growing.

The ability to work and play well with others is critical for a business to succeed. Business owners who can see how their business is a group effort are far more likely to make full use of the people’s talents.

2. Self-Starters

Self-starters have the drive, passion, and will to succeed. They have developed an intrinsically motivated behavior skill set. A self-starter is motivated without needing a person to stand over them, consistently encouraging them to take responsibility with passion.

A self-starter is a person who is motivated to set and achieve goals and takes the initiative within the workplace. Self-starters are especially important in the workplace and highly sought after by employers because they can get their job done with supervision, work through issues, and perform tasks independently. Being willing to shoulder the burden of running a company doesn’t mean not accepting or even planning on the help of others. It means being able and willing to do it yourself if need be.

3. Highly Motivated

Every business owner has a unique set of motivators that trigger them to start and maintain their business. Whatever it is, you can bet that small business owners have no problem staying motivated to grow their business. 

Whether you call it drive, determination, or motivation, it’s one of the non-negotiable elements of business success. Nobody slacks their way into success in the long term. Running a successful business requires being a self-starter, capable of taking action for one’s reasons without needing an external prod.

4. Passionate

While it may not seem like it, all big businesses started small. One of the reasons the business grew was the small business owner’s passion for doing. They have energy, courage, passion, persistence, which gives others energy, courage, passion, and persistence. Without them, we big business would not be around.

It is possible to do good, even great work that one does not care about—perhaps out of a sense of duty or obligation or as a matter of professional pride. However, the only way for us to do well at something is to care deeply about it over the long haul. Passion is what inspires the extra hours or the sleepless nights fretting over details.

5. Goal-Driven

Being goal-oriented works directly with persistence to keep your business owners heading towards success. Creating goals, however, includes more than just the outcome. If you’re a good goal-setter, you know that achievable goals come from careful planning, research, and honest communication with everyone involved. Even with the main goal in mind, it’s important to focus on each step to reaching that goal by creating micro-goals along the way.

Goal-setting can help your business feel more organized and unified, whether you have a team of 10 and more or it’s just you. When you’re a goal-oriented leader, you show others that you aren’t just driven but have plans to succeed. With attainable goals in place for your business, you know what your next step needs to be – even when the future is murky.

6. Humble

As in every profession, humility is an important trait a small business owner should possess. Being humble takes one ahead in the long run in their personal as well as professional life. In entrepreneurship, humility takes a greater role.

Humility does not mean thinking little of oneself, putting oneself down, or underestimating one’s talents and skills. Those things are just insecurity. Rather, humility is being aware of one’s fallibility and knowing one’s actual limitations. Humble business owners can ask for help when needed, accept legitimate criticism and feedback, and remain grounded even in success.

7. Confident

For small business owners, business confidence indicates expectations based on production, orders, and overall performance. Confidence can also be used to check growth and anticipate issues that could affect the company’s sustainability. It’s more than just a characteristic or inherent trait.

Confidence is a powerful character trait that can instill trust, facilitate respect, and often lead to increased success. The most successful business owners have steady, quiet confidence that doesn’t border on arrogance or egotism.

Contact Insurance Enterprise for Premier Health Insurance

If you have questions about group or individual health insurance and need health insurance quotes, contact Insurance Enterprise at 888-350-6605. Speak to a licensed agent and find out more about how you can get an affordable health insurance plan.