Habits of a successful business owner

in #business4 years ago

Success isn't so much about luck, it is cultivated and nurtured.

Nurturing is a repetitive task and so needs to become a habit.

Some of us have these attributes naturally, for others we need to develop them.

Below is a list of some of the attributes successful business owners cultivate:

  • Being observant
  • Being curious
  • Being eager to learn
  • Trying to acquire new ideas every day
  • Recognition that business is always a work in progress
  • Recognition that constant refinement is required
  • Acceptance that to start does not guarantee success
  • Being prepared to explore outside the comfort zone
  • Engaging potential customers regularly to seeking input

The market is constantly changing.

If we are not prepared and willing to keep exploring we may soon find ourselves and our business ideas that used to work no longer relevant or profitable.

We need to practice thinking and acting like successful business owners until these thoughts and actions become habits.
Success then has a far greater likelihood of following.

One should regularly practice:

  • Observing and talking to customers focusing on:
    1.Gathering ideas
    2.Understanding needs
    3.Testing and adjusting business ideas
    4.Gathering feedback
  • Writing down
    1.Obsevations
    2.Ideas
    3.Impressions
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I think having a routine for when you start your day is also super important for building some of these habits, too.

I found something even as simple as telling myself "not to do X before noon" was a great way to really ensure my morning were productive.

But overall, I wholeheartedly agree with the theme of this post - learning, being curious, trying new things. If we don't continually innovate ourselves, we get stuck. We become like Blockbuster and the Yellow Pages.

You should make a book on successful business management :)
Cultivation of new ideas and developing the habits you mentioned above is very necessary for sticking to the market developments because market or business nowadays is very quickly adopting new/fresh ideas and styles so if we are not playing according to it or we are slow than there are very high chances of our failure in this race.

I want to ask you a question bro @sme, what type of business you have?
Beautiful advice about cultivating these important habits and will sure try in my next business.
You are one of my favorite steemians. No matter what I daily read your post till end and I am really learning from your posts. Keep it up brother.

Numerous businesses, some worked many failed.

good post.... how does it map to the current Youtube business or Sttemit self-governing business....

I think we've seen the core youtube product remain relatively unchanged for a long time. I mean, aside from YouTube Live, which I haven't really seen anyone do except for the month it came out, there has been any real innovation on the platform since Google acquired it.

What did change with YouTube was the way that they treated their creators... it went from being people uploading random videos to share with friends, to people running whole channels and businesses on there... this brought in advertising dollars, which then brought more creators to the platform.

But, of course, any time you have advertisers on the platform, you have to keep them happy, and so when brands started noticing that their ads were running next to videos and channels that they didn't want to be associated with, they told YouTube they needed to fix the problem, and that's why we've seen such a clamping down on monetisation.

And I honestly think it's a tough position for YouTube - they need to keep their advertisers happy, but they're quickly creating an environment where talent is not encouraged to bring their content to the platform. In addition to DTube/Steemit, Facebook is also making a play for their creators with Facebook TV, so it'll be interesting to see how that pans out.

In terms of where YouTube should go from here, it seems to me that there's an opportunity to create tools to help new creators, or demonetised creators, better connect with brands that might be interested in promoting their channels. Otherwise they're going to see a drop in new channels being created, which long-term will hurt the platform.

In terms of whether DTube/Steemit is the answer, I think DTube in particular has a long way to go before it's a completely viable alternative to YouTube, but in the meantime posting your videos to YouTube and then embedding them in a Steemit post is a great way to double-dip at monetising your videos (YT revenue + Steemit revenue), without paying DTube's 25% author rewards fee.

Anyway, just my 0.02sbd :)

Good point about YT + Steemit revenue (thats assuming one is eligible to get YT monetisation)
heh... YT could always split to two products? YT for casual users and YT for business channels

Apply these to marketing your steemit blog and building your steemit network.

Wow! So inspiring!

Its a good informative post. In this article you have mentioned good rules and habits to get more progress in business. By following the above mentioned habits one can succeed and became a successful business man. Thanks for posting such valuable post.

Routine is key, alongside waking up at 5am and kicking off the day with exercise and a coffee

along with habits, it's important to know how the wealthy spend their money and what's their mindset. I have written on this:

https://steemit.com/business/@honarparvar/how-the-wealth-changes-in-generations

I strongly agree with what they said. I thank you for these beautiful tips. I wanted to go a little further. I wanted to write the ones that are more important for me.
The habit of identifying yourself based on successful financial gain forces you to constantly pursue more. This leads you to a never-ending chase, so success is a concept you will never reach. Get habit of identifying success and happiness with each other.
You can set goals and schedule for the whole week, especially at the beginning of the week. By doing this for each day you can also set your priorities within the day so that you can prepare your plans to accomplish these goals in your free time.
Wake up at the same time each day. Having a good sleep routine, doing more work during the day helps you to have more energy.
Work harder than your competitors. If everyone is working harder, success can never be hidden from you. Make sure you see it.
Surround yourself with only successful people, stay away from negative people. Stay away from negative people trying to get you out of your dreams. If you have such friends, make sure you do not need them. If your friends will cause you to lead a mediocre life, think about it.

Agreed, business and success have to come with a plan. Nothing comes in luck last.

I have a book for writing down these things,planning on distributing Questionnaires soon on solar power

Being eager to learn

I think you listed one of the greatest habit of the most successful, there is alot of potential in learning, I think when we learn more we always discover and recognize opportunities more, those that we were never able to spot.
Good one.

I commend you for giving a vital insight into habits of a successful business owners. In fact, the tips you highlighted is absolutely true, and this is what many people fails to understand. My take is that in every success, planning and hardwork takes 80% while luck takes 20%. Nice post. I follow and upvote.

I am only a worker and I am not businessman. So I should not make these list. :) But thank you..

great write up, you are right on point, you have to work on being successful to be truly successful

I shared your thought @sme, business success is not a luck but results that comes with perpetual cultivation of some basic attributes. Thanks for tips, it's really helpful.

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In business your customer holds the key and you must show them respect they deserve

Good advice. Things change fast, online especially, tough to keep up sometimes! lol Glad to have found Steemit, feels like an awesome place to make some great connections. I already had one commission for a custom painting from a Steemian!

Great advice.

I would add that one should also regularly stay informed about the industry trends, current competitors, and new competitors.

Cheers! : )

Yea ..this habit of a thing is a key role in a successful business. Because you never know who you offend with your habit...most business men and women tends to get angry at customers.maybe cause how the customers ask much question on a certain product...well sometimes the best thing to do is endure and keep up with the customers

@sme Nice post ! I'm a strong believer of creating good habits, because bad habits are hard to get rid off. Best wishes to you. Steem on

I completelly agree. Success has nothing to do with luck. Persistence and hard work, consistence and daily actions will lead to success.

I commend you for giving a significant insight into habits of a made business homeowners. In fact, the guidelines you highlighted is totally true, and this can be what many folks fails to know. My take is that in each success, designing and hardwork takes eightieth whereas luck takes two hundredth. Nice post. I follow and upvote

Again, more great insight I would also add into that the need to remind yourself of your business goals on a daily basis and regularly review progress. Don’t allow yourself the chance to drift off course.

This is a very helpful post. I have a question though, how possible is it to start up a business without being physically present? I have been told that to start up a business, you have to be physically present for the first few months at least, because workers cannot be trusted especially with baby businesses, but this would require me to quit my job, which I love so much. Any thoughts?

Acceptance that to start does not guarantee success

I think this point has a lot to do with my own failures. In today's time people tend to want results as soon as possible. When it does not happen quick enough we move on to something else. Whether its moving from job to job, or trying to pick up a new skill to enhance their resumes the commitment one needs to make is rarely applied. I think that is why people who feel like they have failed in business is because they never accepted the fact that what they started may not necessary achieve success.

Want to give an example of all the points you made.
The example is Steve Jobs openly discussed how one calligraphy class taught made him truly fond of font styles. He later made the MAC will software that allowed users to type in many different fonts. Now it is a standard in every word processor program to have a selection of fonts.

Yet Steve actually dropped out of school and was free-styling with his education. To randomly stumble on the calligraphy class and what he later created great success was all because he did what he wanted to do. He did not follow the systematic rules to being successful. Going to college, graduate, get a job, move up the corporate ladder and so on. He went with a different direction not knowing the results but yet accepted it for what it was and simply worked toward his dreams. Pretty cool and admirable in my opinion. Thanks.