One thing about being a business owner: it’s not easy! As I am sure most of you have discovered, running a business means overcoming adversity and side-stepping challenges – and that’s before you even eat lunch!
If you’re not prepared for these challenges, it can wear you out. I’ve experienced plenty of wear and tear myself, and I’ve unfortunately known plenty of business owners who eventually called it quits because they couldn’t take it any longer.
That’s why it’s not surprising that one trait most successful business owners share is that they are extremely mentally strong. Today, I’d like to share seven specific traits define these mentally strong business owners and set the stage for success:
1) Don’t let change scare you. Change can be scary, you’ve worked hard to create the systems that keep your business running, and change can threaten the status quo. But without change, you can’t grow.
2) Don’t be afraid to take a risk. Many business owners are risk-averse, and while it is certainly wise to be cautious, the fear of even a calculated risk will make you stagnant.
3) Keep failure in perspective. Everybody fails from time to time. Individuals that are mentally strong get back up and keep going. Many others stay down – and before long, their business goes down too. Understand that failure is inevitable. When it happens, learn your lesson and move on.
4) Take criticism in stride. As a business owner, you’ll be subjected to plenty of criticism – from competitors, from employees, from customers. Don’t ignore it (there’s often much to be learned), but don’t let it drag you down, either.
5) Be “in it” for the long haul. Understand that building a world-class business takes time. Overnight successes happen, but very rarely! Steel your mind for a tough (but rewarding!) road ahead, and don’t lose sight of the big picture.
6) Keep an open mind. An open mind is critical for success over the long run. No matter how much you know, you don’t know everything. If you’re set in your ways, eventually you’re going to fall behind. Keep an open mind and look for opportunities to adapt and innovate as they arise.
7) Build a good team around you. Finally, recognize that you can’t do it by yourself. You need a support system – employees, family members, fellow business owners, a coach… whatever the case may be. Build a team of people around you that you can turn to for advice, insight, and encouragement. “No man is an island!”