10 Qualities of High Performance Small Biz Owners

1. Internally - Personally and Self-Motivated
Everyone knows that you need motivation and drive to be successful in life. However, when you are running a small business, you will need to be able to not only motivate yourself, but motivate your employees as well. The best small business people realize you are often your highest and best resource. They've embraced and deal with it daily and keep themselves and their team thinking "We can!"

2. Goal Oriented
Successful business owners are always goal oriented - they know what they want to achieve and they have a sense of how long it will take them to get there. Moreover, they have learned that visionaries think critically and create the path...the baby steps and short-term goals to get to the biggies.

3. Personal Management & Prioritization Skills
When you own a small business, time equals money. If you want your business to be a success you will need to understand the concept of "first things first" and,
What do I need to do next in order to ensure the ongoing success of my enterprise?" Having said that, do not take take personal management to mean time management nor either to mean they control time or have priorities you and I would embrace. To the contrary many great small biz whizzes simply have one set of priorities that are wholly self-serving.

4. Fiscal Capability and Allocation Skills
In addition to managing their personal and business priorities, as a small business owner, you also need to be able to properly manage your monetary resources. The best have a timing sense about spending and holding. Oh by the way, if your passion is operations then you better get a great numbers person you can dance with...who will speak so you will be motivated when change is needed!

5. They Take Personal, Physical Care of Themselves
Too many small business owners often forget to take care of their health when things get busy. Poor nutrition can lead to a lack of energy and being susceptible to colds and the flu and being put on the sidelines in an untimely manner.

6. Nimble for The Times They are ALWAYS A'Changin'
Having the ability to adapt to changing market conditions is critical and a habit shared by the small biz whiz community. Products and services are quickly part of the fading landscape of the desires of a fickle market. You must be prepped to read the market and understand where it is planning to go.

7. Step Outside of Their Comfort Zone REGULARLY
Successful business owners need to be confident in taking risks. You have to take risks to reap rewards. This means controlled failure and the best of the best get that.

8. Communication Skills
Being able to communicate well with others is a must. In addition to communicating with your staff and customers, you also need to be able to network with other business owners.

9. An Unusually Wide Range of Interests
In addition to being able to communicate with others, you also need to be able to listen. But beyond that the very best are able to take the analogy of success and failure from a wide range of subject matter and apply it to their situation. The ability to associate truth, market conditions, opportunities and see beyond the narrow scope of ones own workspace is rare and unique and leads to an endless world of business possibilities. No one is ever-right 100% of the time, and there are times that even the most successful business owner will need to heed the advice of others and see things from a completely different perspective.

10. Work Right Not Just More!
If one of the reasons you are going into business is to work less - think again. Similarly, if you think you have to work longer, harder and more often then you are missing the point. The point is to focus attention, time and energy where you maximize your opportunity and create the largest possible audience for your goods and services. Make no mistake the best small business owners are committed to their business and frequently work 60 or even 80-hour weeks. But the key isn't the hours. The key is a concerted effort to do what the business needs you to do and train others to do the rest with the same fervor, intensity and pride you take in your work.

If you are challenged in your current small business give me a call and we can discuss your situation. I would be honored to be of service.

John is a 26-year professional in the franchise industry. He has been a franchisee, a franchise executive and an advocate/consultant to the public and to dozens of franchise companies. He is the founder and managing partner of Wilson Associates and can be reached at dr_franchise@consultant.com