Key traits of successful entrepreneurs

I was just thinking about what I need to do to get my business to the next level this year and thought I’d share with you what I’m telling myself. I’ve realized that as small business owners we’re basically all the same. A lot of people think that everybody’s different, that some people are just luckier than others or that they were just in the right place at the right time. On the surface that might seem to be true but the reality is, it is not true. The difference comes down to perfecting the fundamentals, planning and focus. These are the essentials.

Successful entrepreneurs know what they truly want. So let me ask, what do you truly want? The first thing people think when you say that is, what do I truly want in my business, but that’s not really it. It’s what do you truly want in life? That’s what you need to be focusing on. Your business is just a tool to help you achieve that.

What you want needs to be something that you want “more”, not just something you’re going to do. What do I mean by that? You have to want it so bad it’s like you’re drowning, and you need a breath of air. It’s not just something that you think you want or something you’d like to have. That’s not good enough. You’re never going to do the things necessary and become the person you need to become to achieve your ultimate goal if there’s not a burning desire within you and what you want you can’t live without it. Whatever it is, you need to want it “more.” More than anything else and you need to be driven. It needs to drive you.

Next, you have to always be striving to get better. Not to be better than somebody else but to be better than you. Try to improve on yourself a little bit each day, each week, each month and before you know it you’re going to look back after a few weeks or a few months and say to yourself, “Okay, I’ve got this.” You have to strive to get better all of the time. If you don’t, you won’t, it’s that simple! Your self-improvement must include not only your attitude and thinking but your ordinary skills as well, and that comes from hard work and practice.

Most successful entrepreneurs do ordinary things better than everybody else. For example, when a ball player gets really good at shooting free throws, and dribbling they don’t miss on those things. It becomes natural, automatic. It’s constant improvement and constant practice. It’s the same in your business; you need to practice the fundamentals all of the time. How do you run your office? How do you run your day? How do you interact with people? These are all ordinary and simple things that consistently need to be done well every day. And “consistently” is the key word here. It’s not just doing ordinary things well it’s doing them “consistently” well in most businesses, you don’t have to do extraordinary things. It’s the ordinary things that matter most. Also, you need to focus. A lack of focus is usually the key factor in failure. What are the key things you need to be doing in your business to achieve success? Focus on these as a priority.

You need to be strong. It’s amazing how some of us let small things cloud the big picture. Minor employee issues, clients saying no, or just not having your way are all common things you have to deal with and not let them distract you from your ultimate goal. You’re going to have setbacks. You’re going to have things you thought for sure were going to work out and don’t. People will let you down and disappoint you, but you have to stay focused on the task at hand and your ultimate goal. That’s what makes a winner a winner! Stay strong and mentally tough and know that you’re going to make it.

Where does this come from? It comes from knowing why you are here, what you’re trying to accomplish and, having the confidence to know that you’re doing the right thing for all concerned. Some people might be predisposed to mental toughness, but for most of us, it needs to be developed. Some call it hardheadedness, but I call it being focused. Now, once you have all of these things under control seize the moment. Take action, don’t stop, and don’t quit. The more you do it, the easier it will get. It won’t be easy, but it will be easier.

Right now it is an amazing time to be in business. Whether you are starting a new business or you have been in business for years, take advantage of what’s going on. Be a leader, move forward and don’t look back!

Jay Thompson is a Business Consultant with the CSU Bakersfield Small Business Development Center. The CSUB SBDC provides premium, one on one, no cost consulting to small business owners in Kern, Inyo and Mono Counties. For more information visit their website at http://www.csub.edu/sbdc.