3 Traits Successful Small Business Owners Share
Being a small business owner is no walk in the park. Every entrepreneur faces tough challenges, especially in this new economy. However, it turns out that there are some common traits that truly great small business owners share. Are you one of them?
- Bold decision-makers. Great business owners know that they have to make bold, strategic decisions under pressure. Avoiding a tough decision – like letting an employee go, confronting a vendor about an issue, or severing ties with a bad supplier – can negatively impact your business. Quick decision-making can make or break a business, especially when it comes to jumping on potential opportunities quickly.
- Organized. Exceptional small business owners know that they can’t and shouldn’t “do it all.” Being well-organized helps them delegate work and prioritize tasks. Those who don’t feel that organization is their strong suit are quick to hire employees who can help them get there. It’s also possible to outsource some of this work. For instance, partnering with a company like Ohio Valley Goodwill Industries for fulfillment tasks like assembly, packaging, and kitting services can effectively free up you and your staff to focus on core company operations and business development. Ask for a free tour of your outsourcing company’s facilities to ensure they can get the job done.
- Forward-thinking. It’s easy to get caught up in the moment when you run a small business. Every day can feel like a new crisis. But it’s important to stop and reflect each quarter on where you want to take the business in both the short and long-term. To achieve your long-term goals, you should also have a step-by-step plan in place that you return to again and again to keep your business on track.