If someone runs a thriving small business, you know they’ve got something special. If a business owner consistently succeeds, you can bet they’re doing something right.
So, what’s their secret? According to psychology, it’s not just about business acumen or financial savvy. It’s deeper than that.
In fact, research suggests that 98% of successful small business owners share 8 specific personality traits.
These traits aren’t just about how they run their businesses, but how they navigate life as a whole, fostering resilience, balance, and deeper self-understanding.
Now, I’m no psychic, but I’m willing to bet you’re curious to find out what these traits are.
Well, buckle up, because we’re about to dive into the minds of successful small business owners and unearth these golden nuggets of wisdom.
1) They’re masters of balance
Running a small business is a juggling act.
You’re constantly switching between roles, managing finances one moment, brainstorming marketing strategies the next, and dealing with customer complaints in between.
It’s all in a day’s work.
But here’s the thing. Successful small business owners don’t just survive in this chaos – they thrive. How? By mastering the art of balance.
You see, these individuals have a knack for maintaining equilibrium amidst the whirlwind of responsibilities.
They know when to push forward and when to take a step back, when to take risks and when to play it safe.
They understand that running a business isn’t just about relentless hustle. It’s also about taking time out for self-reflection, rejuvenation, and planning.
In essence, they’ve got their work-life harmony down pat. The result? A thriving business and a fulfilled personal life.
Sounds like quite the feat, doesn’t it? But remember, balance isn’t something you achieve overnight – it’s a skill that’s honed over time.
2) They’re relentless learners
If there’s one thing I’ve learned from my journey as a small business owner, it’s that you never really stop learning.
I remember when I first started out, I was so sure I knew all there was to know about running a business.
I had a solid business plan, a clear vision, and enough drive to power a small city.
But then reality hit, and boy, did it hit hard. I quickly realized that running a business was more than just numbers and strategies.
It was about dealing with unexpected hiccups, adapting to changing market trends and never-ending problem-solving.
Did I falter? Absolutely. But did I give up? Not on my watch.
Instead, I embraced my shortcomings as opportunities to learn and grow.
I attended seminars, read countless books, sought advice from mentors and even went back to school for a short course in business management.
Through it all, I developed an insatiable thirst for knowledge. A trait, I later discovered, shared by 98% of successful small business owners.
In the world of small business, learning isn’t just an option – it’s a necessity.
Keep those books close and your mind open!
3) They’re exceptional at networking
Building a successful small business isn’t a solo act. It’s an ensemble performance that requires the support and collaboration of others. This is where networking comes into play.
Did you know that 85% of all jobs are filled through networking?
The same principle applies to small businesses. A strong network can open doors to new opportunities, provide valuable insights, and even help you navigate challenges.
Successful small business owners understand this. They’re not just good at networking, they’re exceptional at it.
They know how to build meaningful relationships, not just business connections.
They also understand that networking isn’t just about taking, it’s about giving too.
They’re always ready to lend a hand, share their expertise, or offer words of encouragement.
In essence, they’ve mastered the art of networking – and it pays off big time!
4) They’re resilient
In the world of small businesses, setbacks are a given.
Whether it’s a failed marketing campaign, a product that didn’t take off as expected, or a sudden cash flow problem, hurdles are part and parcel of the journey.
But successful small business owners don’t let these setbacks deter them. They’re resilient. They have a knack for bouncing back from adversity stronger than before.
How do they do it? By adopting a positive mindset, being open to feedback and seeing every setback as an opportunity to learn and improve.
They understand that failures aren’t the end of the road but stepping stones on their path to success.
And this resilience, this ability to weather the storm and emerge stronger, is what sets them apart from the rest.
It’s not about how hard you fall, but how quickly you get back up.
5) They’re deeply passionate
When I think about why I started my business in the first place, one word comes to mind – passion.
I was passionate about my idea, passionate about making a difference and passionate about carving out my own path.
And this passion wasn’t just a fleeting feeling. It was a driving force that kept me going during the toughest times, igniting my determination and fueling my perseverance.
As it turns out, this fiery passion isn’t unique to me. Nearly all successful small business owners share this trait. They’re deeply passionate about what they do.
They’re not in it for the money or the fame. They’re in it because they genuinely love what they do, and they believe in their ability to make a difference.
Passion is what wakes them up in the morning and keeps them going late into the night.
It’s what pushes them to go that extra mile and gives them the courage to dream big.
Let me tell you from personal experience, there’s no stronger driving force than a heart filled with passion.
6) They know when to say no
In the hustle and bustle of running a small business, it’s easy to say yes to everything. Yes to every opportunity, every client, every project.
But successful small business owners understand the power of “no”.
Saying no isn’t about being negative or close-minded. It’s about setting boundaries, prioritizing effectively, and understanding your limits.
It’s about knowing that not every opportunity is the right fit and that chasing after all of them can leave you spread too thin.
These business owners know when to turn down a project that doesn’t align with their goals, or a client that demands more than they can give.
They understand that saying no to others often means saying yes to their own growth and well-being.
In other words, they’ve mastered the art of strategic refusal – a trait that’s as empowering as it is essential in the world of small business.
7) They’re adaptable
In today’s fast-paced world, change is the only constant. This is especially true in the realm of small businesses, where trends change at the drop of a hat and adaptation becomes a survival skill.
Successful small business owners are masters of adaptability.
They have an uncanny ability to pivot when circumstances demand, to embrace change rather than resist it.
Whether it’s adopting new technologies, adjusting their business model, or changing their marketing strategies, these individuals are always ready to adapt and innovate.
They understand that staying stagnant in a dynamic world is a recipe for disaster.
Instead, they choose to flow with the tide of change and use it as a catapult towards greater success.
In essence, their adaptability isn’t just a trait – it’s their superpower.
8) They’re self-aware
Self-awareness is the cornerstone of success in any domain of life, and small business is no exception.
Successful small business owners have a deep understanding of themselves – their strengths, their weaknesses, their motivations, and their limitations.
They know what they’re good at and where they need help. They’re not afraid to face their shortcomings or seek guidance when needed.
They understand their values and let them guide their decisions.
They know what drives them, what fuels their passion, and what keeps them going in the face of adversity.
In essence, they’ve mastered the art of looking inward and using this introspection as a compass guiding their path to success.
Reflecting on the journey
As we reach the conclusion of our exploration into the traits of successful small business owners, it’s clear that success isn’t a singular destination.
It’s an ongoing journey of growth, resilience, and self-discovery.
These traits aren’t just about running a successful business. They’re about living a fulfilling life.
They’re about understanding that success doesn’t just come from what you do but who you are.
So, whether you’re a seasoned small business owner or just starting out, remember this – your journey to success is as unique as you are.
There’s no one-size-fits-all method to achieving greatness. It’s about embracing your individuality and using these traits as guiding principles, not rigid rules.
As the famous author Maya Angelou once said, “Success is liking yourself, liking what you do, and liking how you do it.”
Keep striving, keep learning, and most importantly, keep being you.
As you reflect on these traits, take a moment to think about your own journey. Every step forward, no matter how small, is progress.
