How To Be Successful: The Essential Qualities Every Business Owner Needs

Today’s episode of the podcast is all about the key qualities that every business owner needs to have, to succeed. In this episode I dive into the things that you need to do to succeed and the common problems that stop this from happening.   KEY TAKEAWAYS COVERED IN THE PODCAST The number one thing to avoid doing if you want to be successful The 3 essential qualities you need to be a successful business owner The key difference between a business owner who fails and one who succeeds Know another business owner that needs to hear these things, and maybe needs a bit of motivation? I would love it so much if you would go and share the podcast with them!   LINKS TO RESOURCES MENTIONED IN TODAY’S EPISODE Episode 247: Why real joy can be found by staying in your own lane Connect with Teresa on Instagram, LinkedIn, Facebook or Twitter   Transcript Welcome back to another episode of the Your Dream Business Podcast. And I am your host, Teresa Heath Wareing. So this week, I mentioned last week that I had been and had a listen to some of my old episodes and I was just trying to get a bit of inspiration of what to talk about of the next few episode. And I did an episode right back, I can't remember what number it was in like the first 15, and it talked about what I thought makes a business owner successful. And I listened to it and I was like, Oh, that still stands. I still pretty much, there's a few tiny tweaks that I'd make, but that's pretty much what I still believe to this day. And it was actually really useful because sometimes I'm not, you know. In business, this is a lonely game and we all have bad days and we all need gentle kicks up the backside sometimes or reminding that actually we are so privileged to have a business and to not have to go out to work and even though it's incredibly difficult sometimes we are still really privileged and therefore we need to work at this and not take it for granted and all those various things. So it was quite nice to re listen back to my episode and kind of get inspired by myself, which sounds a little bit weird. But that's what I want to talk about today. And I want to talk about the key things that I think every business owner needs to have to succeed. So if you think that this episode is going to resonate with someone that, you know, or another business owner that needs to hear these things and maybe needs a bit of motivation, then please do go and share it because this is going to be a good one. Okay. So I was, looking back through that episode, and I talked about various different things, and one of the things I talked about was almost some of the myths or some of the things that stop us from maybe becoming as successful as we'd like to become. And again, they still stand today. So some of the things we talked about is the comparison thing and how we shouldn't be comparing ourselves to others. And although this wasn't one of the three things that is on my list of what makes business owners successful, actually, this is something that they do in the sense of they don't compare themselves. They almost put themselves in a lane of one. So they're not looking at other people in the race. They are the only person they're racing with. And when we compare ourselves to other people, we make it about them alongside us. And that is just a disastrous things to do. Because there are so many reason, probably, well, I think podcast on this and if the lovely Becci who's listening to this can remember it, she'll link up to it in the show notes. But the whole reason we do not want to be comparing ourselves to other people is because one, The first one, you don't know the truth. We never do. Had a really interesting conversation with someone the other day. And we were talking about, you know, being a six figure business owner and what absolute BS that is because it doesn't tell you how much money someone made. It doesn't tell you how much profit they made. It just told you what they turned and it's all just rubbish. So even when people say stuff online like that, or when people go look at, you know, I've had all these people join my membership or I've had all these people buy my course. No one knows that for real. You don't know that. So. Actually comparing yourself with someone else is the biggest waste of time that you can do and leads to such sabotage. Like, I purposely mute a lot of people on my social media feed, and when I say a lot of people, I mean a lot of people who do what I do, even friends who do what I do, I have muted some of them, because I get too distracted, and then I start beating myself up and going, look, they're doing this, because of course they might post the day they're feeling really productive, and look how much they've just done, and I might look at that the one day that I wanted to sit and watch Grey's Anatomy all day on the sofa. So, It's just bad news. Don't, don't compare yourself to other people. The other thing that we do, and this is a little bit alongside the comparing things, is we think that other people are an overnight success or that other people just got it so much easier. And there's obviously some secret that we're missing. There's some magic tool or special hack that we are missing that they've got to become really, really successful. But what we are missing is not that magic hat, because there isn't one, is the knowledge that they have been doing this for a long time. And in that episode, I give lots of examples about, and I think I gave the example of like, go back and look at Jasmine's Star and the amount of followers she's got, but look how many posts she's done. And that would have meant that if she posted once a day, that she was consistently doing it for like six, seven years, which now would be more like 15 years, I guess, or something like that. So it's not about that, you know, they weren't an overnight success. You found them at the point that they're there, they became successful, but they'd already been doing it. They'd already been showing up. They'd already done those things. Now, there are some people who get really successful really quick. You do have to ask yourself how and why and what's the longevity? But again, I'm not even sure I'd be interested in that and and worry about that myself. So the other thing that sometimes can come and scupper us as business owners, And it again is all kind of attached that comparison thing is shiny object syndrome. Okay, it's a proper syndrome. I'm being facetious. I'm joking. But it is something that lots of us have where we see something and think, Oh, we need to do that. I need to do that. I've got to show up on that platform or I've got to, and again, I did a episode not that long ago about threads and why I wasn't joining it and it died down within a very short space of time. So I'm glad I didn't make the effort. But like we do look at all these things that other people are doing and think, Oh, I must do that. I need a YouTube channel. I should probably start a podcast. I should do this thing. I should do that thing. And the problem is we let all those things distract us and the other thing that we do, and I am guilty of this, FYI, I am guilty probably of lots of these things, some I am better at now than I was, but is that instead of just going all out on one thing and selling it and selling it and selling it and selling it, we actually... Create something else, and then we create something else, and then we create something else. And, unless your avatar's changed, unless your perfect customer's changed, unless your product offering's changed, you probably don't need to change those things as often as maybe we think we do. Now, reviewing them, yes. We need to review these things, as in, Is my perfect customer still my perfect customer? Are my lead magnets still appropriate for those people? However, We don't need to necessarily create a new course every six weeks. Absolutely not. And again, when I look at the amount of content I've got, and that's where I did the summer sale because I've got all these courses sat there that I wasn't doing anything with that now wasn't serving the people who I want to serve. And I just wanted them gone. So I did the sale, got rid of them done. So. Trying really hard not to get distracted by a shiny object syndrome, by other things, by other people and just be staying in our own lane is super, super important. So what are the three things that I think make a business owner successful? The first thing is passion. You have got to absolutely love what you do. At times we can dislike what we do. At times we can feel like not doing it, but you've got to believe and love what you do. Like I can be getting to do a coaching call with my executive club or with the club, and I could be getting ready to do that call and thinking, Oh, I'm tired. I don't want to do this today. But...