Introduction to Successful Small Business Entrepreneurs
Are you considering starting a small business? Also, are you wondering: “Will I be a successful small business owner?” Successful small business entrepreneurs have something to sell, be it a skill-set, product or service. Furthermore, you need an innovative mindset, courage, passion, leadership, self-discipline and more.
Many small business owners find that time is one of their worst enemies. Considering that most small businesses fail due to a lack of business acumen, you must invest time in self-development. In addition, a positive state of well-being is essential for success as a small business owner. Therefore, you also need to invest time to be mentally, emotionally, spiritually and socially anchored.
Due to time pressures, some small business owners choose to integrate their social and business lives. Often business clients become social friends. These successful small business entrepreneurs build their lives around their business. Whatever your strategy, you provide the strategic direction and significantly impact the success or failure of your small business. Likewise, your capabilities determine, in most cases, the capabilities of your small business.
You are on our online Roadmap to Small Business Success (click here) for successful small business entrepreneurs. This section of the road map deals with:
- Traits of Successful Small Business Owners (read blog for more detail),
- Small Business Owner Development (read blog for more detail) and
- Small Business Owner well-being (read more on the human body systems and healthy living).
Traits Successful Small Business Owners Have
Starting a small business is an enormous challenge with both tremendous risks and great rewards. Successful small business entrepreneurs are a special breed of people. Indeed, they are prepared to fail and keep on going despite difficulties and challenges. Needless to say, being successful as a small business owner is far more than having a great idea.
Fortunately, many successful small business entrepreneurs have no previous experience in the fields in which they are successful in. In addition, they did not have any financial backing to get them going. Given these facts, if you have the required traits and are passionate about business, small business ownership might be for you.
There are common traits successful small business owners share that makes them triumphant. If you do not have them, you should probably re-consider starting a small business. Take look at the following traits of successful small business owners:
- Innovative, creative, curious, visionary, future-oriented, adventurous, optimistic and resourceful
- People person, relationship-oriented, persuasive and flexible
- Independent and self-reliant, self-motivated, passionate, driven, determined, self-confident and unafraid of risk
- Respectful, ethical and possessing integrity
Is that you? Read the detail in our blog 14 Characteristics of a Successful Small Business Owner – Click here
Small Business Owner Development
By now, you probably realize that running a small business is not that straight forward. Indeed, it is demanding and requires business savvy. Small business owners often lack business and management know-how initially. In many cases small business owners are the only ones with any business savvy. Although they have the skills to produce and sell viable products or services, it is not enough to become a successful small business entrepreneur.
Considering this, finding help isn’t an indication of weakness or inadequacy. In fact, getting help is a smart business move.
Besides getting help, successful people surround themselves with others who are successful. As a small business entrepreneur, you should actively grow your network with people who are positive, experienced, knowledgeable, talented, helpful, caring and inspirational. Take the time to network, it is time well spent, and it makes a difference.
To be a successful small business entrepreneur you have good options to develop as a small business owner. These include education/learning, coaching, mentoring and small business consulting. Read our blog to learn more about these options for Small Business Owner Development – click here
Small business owners in Wilmington NC have numerous free opportunities to learn and participate in events for personal and professional development. You should also capitalize on these.
Small Business Owner Well-being
Being one of the successful small business entrepreneurs takes enormous effort and long hours. Therefore, it is common for small business owners to sacrifice their personal well-being to achieve business success. However, this proves to be counter-productive and it is just a matter of time before you develop relationship, emotional and physical health problems. This will directly impact your workplace relations and business sustainability. Furthermore, if your physical health is compromised you may not be around long enough to enjoy the fruits of your hard work or see your business dreams come true.
There is a direct correlation between your well-being and your performance. By taking care of your personal well-being, you as a small business owner will be more productive, be able to focus longer, make good decisions, and achieve more. In addition, you will lead a fulfilled life, have more energy, and be happier. Your well-being as a small business owner should be one of your top priorities.
What is Well-being?
Well-being is being in a positive state, characterized by overall contentment and balance in your life. Well-being is being mentally, emotionally, spiritually, and socially grounded. It is all about positive emotions, feeling good and living with a purposeful life.
Elements/Types/Components of Well-being
The various components of well-being are as follows:
- Well-being Purpose: Your purpose reflects your value and belief system and the meaning of life to you. Who do you want to be? What are your goals in life? What do you want to do? What lifestyle do you aspire to?
- Mental/Emotional Well-Being: Mental/emotional well-being deals with your ability to realize your full potential; cope with life stresses and difficult situations; work productively; and develop high confidence and self-esteem levels.
- Social Well-being: Your social well-being is the extent you feel that you belong and are socially accepted. In addition, do you feel loved and how are your relationships with others?
- Financial Well-being: Financial well-being goes hand-in-hand with being financially secure for now and the future. It also includes not having to stress about money and being able to have choices about how to spend your money.
- Community Well-being: Your community well-being reflects your engagement within the area where you live. Do you feel safe? Do you like it? Are you proud to live in your community? Are you eager to join hands to improve your community?
- Physical Well-being: Physical well-being is connected to your lifestyle choices to ensure your health and avoid diseases. In essence, it is about physical exercise, good nutrition, and healthy lifestyle choices! Do you have enough energy to get through your typical day?
Taking Care of Your Well-being
To be a successful as a small business entrepreneur, you should take care of all the well-being elements outlined above. Become more aware of what you think and how you feel. Make time for yourself, be active and keep on learning. In addition, build positive relationships and be kind and giving to others. Seek help from a physician, health coach, counselor, psychologist or psychiatrist as necessary. Enroll in online self-help interactive programs to improve your well-being.