15 September 2021

What are the key qualities of a good business owner?

It’s very important for a business owner to be aware of exactly what his or her obligations are. Yes, sometimes it can be intimidating, but as all my clients know, the business owner’s job becomes much easier when roles, responsibilities, and limitations are clearly defined.

As a Business Coach, I’ve worked with a lot of business owners, and what I’ve learned is that their struggle arises from getting too overwhelmed with everything that’s happening within the business, and that’s because they didn’t know what they should be doing (or not be doing).

The key is to make sure your energy and attention are allotted to dealing with things you should be concerned about, so you still have energy at the end of the day.

Appreciating the roles and responsibilities of your team and of yourself

A business is like a machine, with each part performing a specific function. As the business owner, it is crucial that you understand how people in your team are contributing to the operation of your business. By knowing who does what and how he does it, making decisions and delegating tasks won’t be too complicated to carry out. This also helps build a foundation of accountability and foster teamwork, because as you understand more the function of each person, so does everyone else.

Developing business plans and strategies

Now that you’ve learned about your team’s roles, you now need to turn your attention to the bigger picture. All my clients know how much I put emphasis on encouraging them to work on the business instead of working in the business. It is the business owner’s obligation to make sure that each action, project, or any undertaking is geared towards a macro-level blueprint. It should always be about striving for collective growth as an organisation. The problem arises when business owners keep on wasting time on things other people can do instead of focusing on how to grow the company.

Managing resources

Taking care of physical and financial assets and making sure they are utilised properly is the basic surviving task of a business. Resources don’t only mean money; a business owner also needs to manage human resources as well as other tangible assets. You may delegate specific people to oversee the use of resources, but in the end, it will still be your responsibility to make sure your company still has enough to keep the business afloat.

Making sure everyone is aligned to the personal and business why

On a personal level, business owners also need to master the art of effective leadership and motivation to ensure that the team has its eyes on the goals all the time. Not all managers are endowed with the gift of being able to effortlessly influence people to take action, so as a business owner, you need to find ways to keep your employees motivated. On the outside, you also need to maintain the image that you’ve established for your company, and keep on devise strategies to market your unique selling proposition.

Getting professional guidance when necessary

Running a business requires one to perform multiple functions, but leaders tend to get engulfed in so many things that’s when they need help. Business Coaching ensures that the business owners are focused on working on the right things. It’s the job of the Coach is to ensure that the business owner is held accountable for doing what they said they would.

Our Cycle of Business Success Workshops are game-changers for business owners. They love what they see, and it completely fires them up. You’ve got nothing to lose by coming along to these free events and everything to gain. Why wait? Don’t put off until tomorrow what you absolutely know you should do today. I’ve helped thousands of business owners to build and grow their businesses – and they’ve never looked back.

Free to attend but with limited places! Upcoming dates:

  • Thursday 9th September 2021 – Drayton Manor Park Hotel, Fazeley
  • Friday 17th September 2021 – Yew Lodge Hotel, Kegworth
  • Thursday 23rd September 2021 – Pirelli Stadium, Burton on Trent
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Guaranteed Investment

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Enrich Your Business

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