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3 things all successful business owners share in common

Written by Michael Rodriguez • Senior Accountant
Published on 06 Feb 2019

Owning a business is something that is perfectly achievable for pretty much anyone and everyone at some stage in our lives. What is actually tricky however is owning a business, and being successful at it. While no two business owners can be said to be the same, there are a few key things they all do share in common.

Below are 3 things all successful business owners share in common.

 

1. They never forget to plan

They say that people who fail to plan, plan to fail. Creating a plan of action is the first step for all successful business owners.

Many compose a mind map to help get their ideas out onto one place. This helps them to identify and visualise the process required to bring their ideas to fruition.

To do this yourself, write down what you believe the challenges will be for whatever task you are looking to undertake.

This is also a great exercise to perform for those who wish to begin formalising a business plan.

Planning is the first tool in all successful business owners respective toolkits.

 

2. They follow their passion (and have lots of it)

Obstacles are common in both life and the business world. There will be hard times along the way, which is why passion and having belief in what you are doing will give you resilience others might not have. Passion also lends itself to confidence and drive. Confidence and drive will lead you to better communication allowing you to sell your businesses services and/or products to clients and potential investors more easily.

 

3. They listen to Professionals

The most successful business owners know what they don’t know.

It could be something as simple as figuring out whether you are employing someone or utilising a contractor.

Learning and having the ability to access knowledge and experiences from entrepreneurs on varying life cycles in their own business is invaluable. Listening to real-life experiences gives insights that will help you better prepare for the obstacles and challenges you will face along the way.

Remember that it’s not all about directly utilising their experiences as each will be unique, but it’s the ability to connect, understand and recognise how such learnings can be applied to your business journey.

Check out another recent blog in this category.

Michael’s extensive experience in financial accounting, business advisory services and technical advice and support give our team and his clients a wealth of experience and knowledge that he loves to share. Authour \u2022 Michael Rodriguez

Senior Accountant, Fitzpatrick Group

Post Categories: Managing Business | Small Business

We’ve been building better businesses for over 35 years.

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