What’s the secret to being a successful owner?
Well, we may not know what the secret is (that’s why it’s called a secret). But having worked with some great founders and owners for years, we’ve discovered five character traits they all seem to have in common.
If you’re an SME owner, here’s a checklist of traits you must have to make it to the top.
1. Be decisive.
As a business owner, you can’t afford to sit on the fence. You need to be decisive. From major strategies to minor operations, you need to make decisions every day and stand by them.
With the business world moving so quickly, you no longer have the luxury of spending a week mulling it over. Delay your decision, and you risk having it made for you.
Making decisions quickly makes you look confident—a characteristic people expect you to have as a business owner. Whenever indecision starts creeping in, just remind yourself of who you are and how you got here. Go with your gut. And remember that consulting an expert about an area you’re not an expert in yourself is still being decisive.
2. Be organised.
While having ideas is great, executing them on a large scale takes a certain level of organisation. The world is full of people with great ideas who can’t execute them. Don’t be one of those guys. Make sure you have:
- a professional-grade schedule that lets to keep track of meetings and deadlines
- other organisational methods (or apps) that keep you up to date with all areas of your business.
3. Nurture relationships
No matter how high-tech your business might be, or how much you’re involved in the detail, never forget that your business is really all about people. Your customers are people, so make sure you not only interact with them, but also get to know and understand them. And the same goes with your staff, because a good leader is only as good as the people under them.
4. Be ruthless
Not in the ‘evil dictator’ kind of way, but rather in the way you run your business. Your goal is to have an efficient, streamlined organisation.
The key to thriving against your competition is to constantly evaluate what your business can do better. Could one of your suppliers be more cost effective? Could a particular division spend its time more effectively? You should always be asking questions about your business—and finding out the answers.
5. Look ahead
Successful business owners are always thinking about the future—anticipating problems and foreseeing opportunities. You need to take chances, step outside your comfort zone, and be a true leader. No-one ever got anywhere by standing still.
Of course, it’s all well and good to say you should do these things. But chances are you’re already time poor developing and growing your business.
And that’s where we can help.
The team at Halkin Group can free up some of that time. We can take care of your business admin and your books, so you can focus on what you should be doing. So get in touch with us today, and let us help you become the successful business owner you’ve always wanted to be.