Qualities of Successful Business Owners - Drive

We all have days when we don't want to get out of bed and certainly have no interest in doing anything meaningful or productive. Running two businesses that are based in Australia that has dealings in North America and South-east Asia which calls for extended hours of morning and evening occasionally leaves me in a situation there I am sure I am the hardest person in the world to rouse from sleep at 4.00am to make an important phone call. However, that phone call is important and when no-one else can make that call for me I need to find the drive or motivation to simply do what is required.

We all have days when we don't want to get out of bed and certainly have no interest in doing anything meaningful or productive. Running two businesses that are based in Australia that has dealings in North America and South-east Asia which calls for extended hours of morning and evening occasionally leaves me in a situation there I am sure I am the hardest person in the world to rouse from sleep at 4.00am to make an important phone call. However, that phone call is important and when no-one else can make that call for me I need to find the drive or motivation to simply do what is required.

This article was actually derived from a comment by my husband at a Christmas party. He had been discussing all that I do and commented that 'I was determined' to get what I was seeking from my business. You see, occasionally, when I deal with smaller clients the one of several things I gauge the likelihood of my services providing sustained success after I have signed-off and move on. Every business owner muse have drive to obtain long term success and here are some key indicators that you can measure yourself against.

Business Owners with Drive are Dissatisfied

Successful business people know where their business is at. They know it's faults and flaws, they know its vulnerability to competitors, market changes, and supply issues and customer demands. They demonstrate drive by expressing their desire to extend and grow their business to make it stronger and more robust as well as meeting client needs in a proactive manner.

This is, of course, not to say that they are not satisfied with where their business is today but rather that successful business owners are forward thinkers and look to tomorrow. For many small business owners, planning for tomorrow is what has enabled them to pay themselves today.

Business Owners with Drive have a Goal

Every business owner that has drive has a goal that they wish to work towards. They have looked at their market position presently and have a vision of where they wish to be. It may not be in a 25 page business plan and, sometimes, it is still locked in their heads but they know where they want their business to be, usually have some idea how they plan to get there and what outcomes that will deliver to them both corporately and personally.

Business Owners with Drive Don't Tolerate Rubbish

I have found lower debtor ratios in business who have owners with drive. They understand that cash flow is important. Not only do they track down debtors and keep payment terms to the minimum, they also work closely with their suppliers to get the best terms possible as well as the best possible quality in supply because this is reflected to their customers also.

Similarly, business owners with drive actively strive to choose their customers. In many cases, they cannot simply say no to them (an online store is a classic example) but how they implement their business, how they manage customer complaints and returns and the information they provide serve to encourage their preferred market and deter others. They strategically meet the needs of qualified buyers.

Business Owners with Drive Take Feedback Seriously

Business owners who want to see their business grow take their customer feedback seriously. They want to use it to leverage their business to the next level and create success opportunities where, by meeting the needs of their client, they too win through increased turnover and productivity. These business owners also actively seek feedback on previous sales experiences to get not only a picture of how their business can improve service but also better understand the changing needs of their clients.

Business Owners with Drive know how to Take Advice

Whether it be from an accountant, a lawyer, or a strategic consultant, such as myself, business owners with drive know how to take advice. They can, in effect, place each experts advice in circles around their business circle in the middle. They can see where the advice intersects with each other as well as the future focus of their business. They then exercise discernment for which course of action is in their business interests, either in the long or short term, and discard the rest. They also, in the discarding process ensure that their adviser is aware of the decision and the grounds for it so they better understand the business and can serve it better in the future.

Business Owners with Drive Face Decisions Head On

There is no burying their heads in the sand when business owners with drive have a decision to make. No, instead they are the ones that call together the key stakeholders and advisers and thrash out the options, their pros and cons, and very quickly make a decision on a course of action. They are decisive and they have what I can only describe as ninja decision making powers, slicing their sword through the white noise right to the heart of the matter.

So, how do you rate as a business owner? 6 out of 6, or maybe 2 or 3? Even if you are not intrinsically driven by nature, these are all areas that you can work on and develop - all it takes is practise and finding the tools to helps you learn how. To do this, all you need to do is make the time - if you are not sure where to start then find a mentor or professional coach and discuss it with them. If drive means success or failure in your business, doesn't it make it worth striving for?