Here are the eight things highly successful business owners do differently from their not as successful competitors.
A trend I noticed a few years back seems to be gathering steam. My business clients seem to be doing either exceedingly well or just barely surviving. Those in the middle appear to only be there while they are either growing rapidly or continuing a long-term slide to elimination.
Granted, my client base is a small sample. But my online research and talks with other CPAs seem to back up a trend that is basically being ignored.
I believe that it is no accident that this separation of businesses into the extremes is occurring. In the past you could just operate your business and make a decent living. Now what I am seeing is that every niche is being dominated by one or two companies who have acquired 85-95% of the customers. All the other business owners are left fighting over the scraps.
So what do extremely successful business owners do differently?
What I have noticed is that extremely successful business owners do the following eight things that are critical to their massive success:
- Successful business owners set SMART goals.
- Successful business owners eliminate all excuses that stop them from reaching their goals.
- Successful business owners are committed to constant improvement.
- Successful business owners are committed to lifetime learning.
- Successful business owners constantly work to identify and eliminate their profit killing mistakes.
- Successful business owners maximize their profits from their current business. They don’t leave any profits on the table whatsoever from their current assets.
- Successful business owners understand the profit formula and how to apply it to their business.
- And finally, successful business owners set a weekly appointment with themselves to systematically improve their business.
So what does this mean for you?
What are you doing this year to ensure that you are one of the successful business owners?