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Eight Habits of Successful Business Owners

There are some businesses that really stand out ahead of the pack. So what exactly goes into making some more successful than others?

While there is no manual outlining what makes someone successful, the most successful business owners all seem to share these 8 habits.

They are focused on delivering value

A product/service that doesn’t deliver much value will only run for a while and then fizzle out. Successful business owners measure the value of every customer-facing aspect and truly treat the customer as king.

They set goals

They constantly set and meet new goals to build success. They pursue their business goals with passion. It’s what keeps them and the people around them motivated.

They research, investigate and ask questions

They conduct extensive market research to formulate winning strategies. They then seek feedback from customers to improve their product/service or explore a different approach.

They build strong teams and hire people who’re smarter than them

They also take the appropriate measures to retain their best employees, the backbone of their business. They lead from the front and recognize they do not have all the answers, but utilize the expertise around them. They know where to look to get the advice and skills the business needs.

They are fit and healthy.

They know that a healthy mind and body improves their productivity and well-being. By keeping themselves fit and healthy it enables them to cope with the pressures of running a business.

They build valuable connections

Even before the early stages of their business. The relationships they’ve nurtured serve them well in times of need. Highly successful business owners are not fair-weather associates, they’re reliable friends.

They are efficient time managers

Learning how to manage time effectively is a critical skill that successful small business owners quickly develop. They prioritize tasks and spend time on important projects first. They are not afraid to make decisions and take action.

They are eternal students

Thriving business owners seem to have a natural enthusiasm and appetite for learning about their industry. They invest time to expand their knowledge, get out there and understand customer pain-points, and more often than not, have a mentor to bounce ideas off.

Author:

All the thoughts, ideas and musings from the Moula team! Covering everything from work/life balance to general finance tips plus everything in between!

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