5 Traits of High-achieving Small Business Owners.

5 Traits of High-Achieving Small Business Owners

Whether you're just starting out or looking to grow your business, you can learn from the most successful small business owners.

➤ They focus on their strengths.

One of the biggest mistakes new business owners make is spending too much time learning new skills without fully utilizing them. For example, think of basketball superstar Michael Jordan when he tried to play baseball. He did not succeed, because it was not his true talent.

By focusing on your strengths, you can make better use of your talents and maximize your success.

Better to be really good at one thing than try to be good at everything! Customize your services of focus on one area of expertise, then focus on being the best at that.

If you own a bakery, for example, you might not have the best bagels and muffins and donuts in town. But if you have great bagels, you're going to have a loyal customer following of people who love bagels!

➤ They surround themselves with high achievers.

Choose highly successful business owners as mentors. As your businesses grows, your network will provide support and help you fill in the gaps in your own knowledge. To reach your business goals, you'll need the help of others - you can't do it alone.

In the early stages of your business plan, go to every networking event you can and introduce yourself to as many people as possible. Aim to get 10 new business cards during the Chamber Dinner. Or identify three people you really want to meet and don't leave until you've introduce yourself.

➤ They see failure as a lesson.

Risk is essential to success, and the fear of failure holds many business owners back. You need to take some risks to find out what works and what doesn't.

➤ They have a plan.

If you want your business to grow, you have to think about the big picture. Stop planning growth and you will stop growing! At any given time, you should have a current business plan for both short-term and long-term growth and expansion. Update it regularly.

➤ They constantly evaluate their performance.

The most successful business owners set metrics, and they also evaluate whether their efforts are effective. Your estimate should be realistic. Take a look at what you're doing, and the effort you're putting into it, and ask if it makes sense. When something isn't working, smart business owners adapt.