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7 Qualities of Highly Successful Business Owners

Author: Charlie Cook   |   August 9th, 2012

What’s the difference between you and the uber successful?

Here in Greenwich Connecticut, we have more than our share of the super rich. People who make literally billions a year, live in 10,000 square foot homes, have Monets and Picassos in their living room or can afford to drop 4-5 million on a new boat, spare house to renovate, or whatever…Discover what successful business owners doAnd, despite what the stereotype says, there are also lots of people who live in Greenwich who live in your typical 2,000 square foot home and are accountants, plumbers and run small businesses.

So what’s the difference, other than the apparent wealth?

Without getting personal, it’s not about brains. Obviously the super rich are no dummies, but based on the people I know, an IQ test wouldn’t show any differences between the mega-millionaires and the regular Joe’s the people just getting by.

The truth is, some may have been a bit lucky, but luck rewards the well prepared.

Here are seven common characteristics of successful people – success tips you can follow. Take note, all things you could be doing too!

1. They have an absolute determination that their business will not only succeed, but prosper.
When you run into difficult times, and you will, you have to be prepared to fight for your business as if you are a cage fighter fighting for your life.

If you’re easily deterred, you won’t be able to take your business to the next level. Instead, you’ll lay defenseless on the mat, waiting for the ref to blow the whistle. A successful business person puts up their gloves and keeps fighting, regardless of the pain.

2. They know their product, and their market, inside and out.
How is your product or service similar to those already on the market? And, how it is different (better)? How does it benefit the consumers? Most business owners make the mistake of trying to sell based on features, when the key is selling based on benefits.

For instance, someone who is looking for a chiropractor doesn’t necessarily care that you have studied seven different forms of spine correction. What they care about is whether you can relieve their back pain and allow them to stand up straight again.

3. They know their numbers.
Know exactly where your business is in regard to profit, expenses and projected income. It’s amazing the number of business owners who aren’t knowledgeable about this critical information. You can’t devise a plan to get where you want to be if you don’t know where you are. A doctor wouldn’t prescribe a patient medicine without knowing test results first, right?

4. They are consistent.
If you find something that works for your business, keep doing it or do it again. If you tried a promotion two years ago that brought massive amounts of people to your door, do it again. Sounds simple, but a lot of business owners fail to continue to expound on proven methods of marketing.

5. A majority of their time is spent on things that are beneficial to the success of their business.
If you waste time on tasks or items that are irrelevant, like checking email five times a day, you don’t have the time to spend on something that could skyrocket your business, like scheduling a lunch date with a prominent referral partner.

6. They surround themselves with a winning team.

Although some people like to take all the credit for their success, the truly successful know that credit lies with the team.

7. If they are faced with a decision, they make one.

Fence-sitting has no place in business. You end up with nothing more than a sore behind. Any action is better than no action.

Successful business owners know exactly where they started, where they are now and where they’re going.

And, they will take whatever action is necessary to get there.

How about you? Ready to be super successful?

Turn these 7 steps into action items, and you’ll be amazed at how quickly you can grow your business.

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