5 Things Successful Small Business Owners Have in Common

5 Things Successful Small Business Owners Have in Common

It’s fairly easy to start a business. If you have a decent idea and can fill a need in the market, most people are quite successful at launching a business.

It’s quite exciting in the beginning as your vision turns into reality and your business starts to operate. You might even get some business right away as news of your business launch spreads and your network sends you referrals or leads to support you in your new venture. This first wave of business can often last a little while, and perhaps for the long term if you’re lucky.

But for most small business owners, achieving consistent revenue for the first few years of business can be quite challenging. Some find their way through this challenging time, while others don’t.

The ones that don’t find their way through often give up. They lose hope in their dream and they lose confidence in themselves. They give up on the idea of entrepreneurship and look for other ways to make an income.

But for those who find their way through and create sustainable long term businesses, there are 5 key things they all have in common.

5 things successful small business owners have in common

Here are 5 key things that successful small business owners all have in common.

1. They address their underlying fears

Small business owners who do personal development work to address their fears and limiting beliefs are more confident, self-assured and authentic. With this stronger foundation within themselves, they’re also able to weather the ongoing challenges of business more effectively and be more agile and adaptive in change. 

2. They create a success oriented mindset

Small business owners with long term businesses are generally more optimistic and they have a strong, unrelenting vision for success. They have a success oriented mindset and are diligent with managing their thoughts. They actively work to ensure their thinking consistently points towards their vision for success. 

3. They take action no matter what

Small business owners who can ride the waves of their own internal challenges as well as weathering external factors take action no matter what. If they feel self doubt, they still take action. If they think they might get rejected, they still take action. If they think their idea might flop, they still take action and try anyway. It’s in the action that business owners can move things forward, move through fears and find out what works and what doesn’t work. Without action, nothing moves forward.  

4. They embrace the long game

Small business owners who have businesses that last embrace the long game. They accept that their efforts today might not be rewarded until sometime beyond tomorrow. They know they have to sew seeds now in order for things to grow next season or even next year. They know they have to keep a steady course, stay on track and be patient. They know that success takes time. They also know there might be many failures along the way. But they stay the course for the long game. 

5. They surround themselves with supporters

Small business owners that have lasting businesses surround themselves with people that support them and have a network of raving fans. They have colleagues and mentors that challenge and grow them and want the best for them. They’ve spent the time to build genuine relationships with others and collaborate in a mutually beneficial way. They give as much as they take and actively contribute to supporting others. With so much support around them, they’re more equipped to overcome the challenges that come with small business ownership. 

small business ownership tips

Building a business for the long term is not for the light hearted. The odds are stacked against you. The statistics for small business success can be a bit discouraging. 

BUT, there are millions of individuals operating thriving and growing small businesses around the globe. And, there are key things that you can start to do to ensure your long term success. 

Rome wasn’t built in a day and neither can your business be. 

Be patient. Stay the course. Keep a success oriented mindset. 

You’ll be surprised at what will start happening for you.