"Within one month our revenues had jumped over 50%."

5 Characteristics Of Successful Business Owners

Successful business meeting handshake

Get ahead in your business.

Leadership, goals, priorities, dedication. Words such as these come to mind when thinking of the characteristics of successful business owners. In fact, success is not a science, it’s not a formula, and it’s certainly not easy to achieve. Some successful business owners may even contribute their success to luck. But when it comes to success, there seem to be particular characteristics that almost all successful business owners and entrepreneurs hold.

Set Challenging Yet Attainable Goals

Dream big, right? Well yes, but not too big. According to an article published on  BusinessManagement.com, “It’s better to set attainable goals, don’t aim too high or too low. Setting overly lofty goals, can leave you overwhelmed and frustrated. Overly humble goals can leave you bored and uninspired. The key: finding something that’s just out of reach.” Aside from creating attainable and challenging goals, successful business owners are sure to ask themselves, “Does this goal help the present reality?” By asking yourself this question, you can be sure to weed out goals that you don’t benefit from in the near future anyway.

Listen to Customers

While it’s difficult to please everyone that you do business with, successful business people never forget that their customers are the blood of their business, and without them, they wouldn’t exist. Customers provide valuable information about the products and services they receive from you. After all, a customer’s voice and word of mouth is often more powerful than your own.  The bottom line is this: Without customers, eventually there would be no company.

Never Stop Learning

Think of the most successful companies in the past few years: Apple, Target, and IBM. These companies have remained successful because they never stop learning about the latest trends in their industries. They provide their customers with exactly what they want and need. Staying up to date with the latest trends while remaining educated on the direction of your industry allows you to have a competitive advantage over the rest. Be sure that you subscribe to business journals published for your particular trade. Read the newspaper to find local events you may want to attend or sponsor to get your name out. Successful business owners never stop learning.

Great Problem Solvers

Most of the time, the road to success is paved with endless problems. However, successful people realize the importance of finding the “simple solution” when challenges arise. They focus on the end result and spend their time on what it takes to achieve the main goal. Once the clutter has been eliminated from a problem, it makes it much easier to visualize the end result and remain focused.

Are Diligent

Diligence is defined as, “Having or showing care and conscientiousness in one’s work or duties.” And Benjamin Franklin once said, “Diligence is the mother of good luck.” While those who contribute their success to the power of luck may disagree with this, diligence is a characteristic that is required no matter what kind of business you operate. Obviously, characteristics of successful business owners vary, but almost all of them have an idea, goal, or vision that they’ve nurtured from the beginning.

About the Author

Lauren Rockwell is a business writer and marketing staff at Liberty Capital Group. She writes about wide range of financial matters from international economics to business funding and financing.

Image License: Royalty Free or iStock source: http://www.istockphoto.com/

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Author:Globial International Business Team

The Globial International Business Team researches, analyzes, and reports on all things related to global trade and business.

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4 Responses to “5 Characteristics Of Successful Business Owners”

  1. May 28, 2013 at 5:03 am #

    RT @Globial: 5 Characteristics Of Successful Business Owners – http://t.co/LVi02of66s

  2. June 5, 2013 at 10:20 am #

    Never stop learning is right – as your business grows, you may end up following the same old processes you’ve been using since day 1 and spending valuable time on inefficient processes. Make sure your learning is fed back into your business so it performs as well as it should.

  3. June 6, 2013 at 9:00 am #

    Attainable Goals are goals that are neither out of reach nor below standard performanc http://t.co/GqtzcW99w3http://t.co/xegrtIpiOD

  4. June 7, 2013 at 7:35 am #

    RT @gulfcoastwebnet: Attainable Goals are goals that are neither out of reach nor below standard performanc http://t.co/nLxeSlirDF

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