The Habits of Successful Small Business Owners
What makes a small business successful
I bet almost everyone of us knows at least one small business that has been there ever since we can remember — whether it be a small shop, a small diner or maybe even a bookstore.
Luckily, one of those businesses was owned by my grandparents — it was kind of an all-in-one store, where they tried to sell everything to everyone.
I was basically raised by my grandparents and had the opportunity to watch that small store grow and induce other sources of income; currently, because of that small store, they own a few commercial and residential real-estates, a gym, and two internet cafes.
I’ve seen and lived along side that small store’s growth and I know that the habits of my grandparents are what made it successful.
With that, I’m going to share with you the habits of successful small business owners:
Waking up at 4 AM? What’s that?
The only time my grandmother ever wakes up at that ungodly hour is when she’s about to buy stocks for the store or if one of her grandchildren is being a pain in the ass (yes, it’s me).
I’ve heard and read about waking up at 4 or 5 AM to have a more productive day.
I call BS.
It would only make sense if it contributes to your bigger goal or maybe even your end goal.
You may have more time spent awake, but that’s not what’s ultimately important — it’s what you do with your time.
Weigh the options out — getting enough sleep or doing what needs to be done on a very early morning.
Sleep the remaining hours if you need to. It makes you energized and focused for the day ahead.
Make a to-do list
My grandparents wrote one every single morning during breakfast. A to-do list helps set your priorities straight within the day.
The amount of time spent thinking about what the next step should be takes away time that can be used to do something more productive.
A to-do list gives you a clear focus on what should be intended to do rather than doing things randomly then cramming at the end of the day.
Try to add value to your products and services everyday
Quality is how your customers apprehend the value of your products and services.
This doesn’t have to cost you money, here are some examples:
- Increase delivery speed
- Give out additional expert advice to your customers
- Improve your product’s packaging design
- Make the process of buying your products or availing your services simple for your customers
Motivate your team
Since we’re talking about small businesses, I’m guessing yours function with a small team or maybe a one-man team.
Heck, our business’ in-house team literally all lived in the same house.
Here are some ways on how you can motivate your team:
- Define clear goals
All members need to understand what the business’ small and big goals are, and there has to be a clear function for each member of the group in order for them to know what they should do.
- Give simple rewards
This doesn’t have to be costly. Maybe the best performing member of the month gets a little something, or if everyone did a good job for the week, take them out to dinner, a few drinks, or just cook for them at home.
It builds rapport among the whole team, including you.
- Build a good relationship
It’s important that both parties can be completely honest with each other. Communication is one of the major factors of a successful business.
- Promote a positive working environment
I’ve literally stayed at a company just because it has such a fun vibe and everyone got along very well. Yes, even the boss.
A positive working environment is one that has the right balance of respect and fun. It would be easier for people to get up in the morning knowing that they’ll see people they actually like and that they’ll be working in a non-toxic environment.
Listen to your customers and staff
Again, communication can get you far in the business game. Having good rapport with your staff can induce morale and productivity leading into good customer service and work ethic.
Your customers are what drives your business, get to know them. Even in the simplest ways. Be genuine and kind. They appreciate that more than you know, and in the business game, words spread quickly.
Take care of your body
What’s a successful business if you’re not there to enjoy it?
Work hard but take a break if you have to. You can have multiple successful businesses but you’re only given one body. Take good care of it.
Spend time outside the office
Cultivating and taking care of your relationships are arguably just as important as having a successful business.
Make time for you friends, family and, of course, yourself. Thinking about work all the time is stressful and may lead to decrease of productivity.
It’s important to have a life outside your business — it’s beneficial for your mental and even physical health.
But even working outside the office has it’s benefits:
- Working outside the office can reduce stress
Animals have been found to be more stressed and anxious in a caged environment and at ease with their natural habitat. Same goes for humans; your office desk isn’t your place in nature.
- Distraction is sometimes good
In order to get work done, we all know that we need to be clear-headed and focused. Being stuck doing something for a long time can get mind-numbingly repetitive.
Go for a walk.
Drink mimosas at 11 AM.
Look up at the clouds.
We all need a cool down period.
Starting a business is a big step for anyone to take but it’s something I personally recommend everyone to do at some point.
Working for other people is fine but ultimately, you’re dispensable, no matter how good you are at your job. There are many stories about scenarios like that. It’s always better to have a landing spot.
Big or small, starting a business is hard work, it’s late nights, it’s a long game but it’s yours.
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