Guardian Life has a new index that identifies the characteristics of small business owners who exhibit a strong success orientation. Success orientation is defined by their desire to enjoy longevity in their businesses, expand revenues and grow the size of their companies.
The six dimensions as described by the Guardian Life Index:
The six dimensions as described by the Guardian Life Index:
Collaborative. Success-oriented small business owners learn how to delegate effectively to others within their business as well as build strong personal relationships with their management team, employees, consultants, vendors and customers. They are more committed "to creating opportunities for others."A summary report of the index and be found here.
Self-fulfilled. Success-oriented small business owners place a high value on the personal fulfillment and gratification that their companies provide them, relishing the self-determination and respect that come from being their own boss and being in control of their personal income and long-term net worth. They are more desirous of "doing something for a living that I love to do," "being able to decide how much money I make" and "being able to have the satisfaction of creating something of value."
Future-focused. Planning for both the short- and long-term future are key traits that characterize success-oriented small business owners. They are more focused on cash flow and more likely to have "a well thought out plan to run our business for years into the future" as well as "a well thought out plan to run our business day to day."
Curious. Success-oriented small business owners are more open to learning how others run their businesses. They actively seek best practice insights regarding management, business innovation, prospecting and finding / motivating / retaining employees.
Tech-savvy. Technology is a key point of leverage for success-oriented small business owners. They more intensely value their company's website and are significantly more likely to "rely a great deal on technology to help make our business more effective and more efficient."
Action oriented. Success-oriented small business owners are more proactive in taking initiative to build their businesses. They are more committed to "taking the business to the next level," "differentiating ourselves from our competitors" and "having something to sell when I'm ready to retire." They also see adversity as "a kick in the rear to help move you forward." Not surprisingly, they are less concerned than other small business owners about the overall state of the economy.
Very interesting article! I really like how the 6 dimensions were concise and right to the point. Being an 18 year old entrepreneur, I can say that those qualities are definitely crucial in the make up of an entrepreneur.
Just love your business it will surely be successful! Cooperation with all your management people will make it more better! Always make new or different things in your business example if you are in food business, make sure you have new recipes or a new style of your restaurant! Just don't make your costumers sick of your business because it is always what they are seeing.