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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

  1. The number one thing to avoid doing if you want to be successful
  2. The 3 essential qualities you need to be a successful business owner
  3. 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 when I'm on the call. I love it. And I know I love it. And, you know, I love having conversations with people and I love helping people. It doesn't mean that I never not want to do a call, obviously, but ultimately I do love what I do. I love making a difference. And I think when you have a passion for something, I have seen people in this industry come in and out of this industry because they thought an online business was get rich quick.

They thought I've known people by a course on how to sell a course. And sold a course on how to sell a course based on the course that they've learned. Yeah, work that one out if you can. And they didn't stick at it. Because it wasn't their passion, it wasn't their love, it wasn't their… They thought it was.

They thought it was the thing that was going to make them rich. And it didn't because these things take a huge amount of time. And therefore if you don't have that passion and that love and that drive for it, those hard days are going to be impossible. The best days are going to be just okay. So, when I think about my business, there is nothing else I would rather do.

Like, I can't, no, that's a lie. I'd really like to just spend all day in the garden and get paid for that, but I don't think, you know, I haven't got time to create all that content to try and become popular on that to get an income from it. But like, You know, from a work point of view, there is nothing else I'd rather do.

So having that passion is key. So if you're sat there thinking, I don't love what I do. Like I said, you don't have to like it sometimes, but you need to love it. If I don't love what I do, or I am like finding that I am not enjoying this anymore. Then you can change your mind. You can go, “Do you know what? This doesn't suit me anymore.”

The next thing in the three things that I think is so important is consistency. And I know we talk about it all the time and I know it gets boring and people get fed up of it, but you have to be consistent. I don't know how much like I can say this because what happens is that people start something new and it takes a long while to get going with it.

And in case you're new to the podcast, because one of your amazing friends or business friends recommended it, I'll tell this story just very quickly because probably the person who referred you is… They heard it many times, but I started my podcast. I agreed to do it for 12 months before I would decide whether it worked or not.

And it wasn't until month nine that suddenly it took off. And the only thing I can put it down to was the consistency. So. I didn't miss a day. I've never, ever missed a week, you know, since February 2018. I have never once missed a Monday and we had a tech issue once and it didn't upload, but it wasn't that it wasn't done.

Sometimes I've done it on Sunday night and I've uploaded it and I just did it and it probably sounded awful. But I've never missed a Monday because I decided that I had to be consistent. And it's only that reason that the podcast is still going and I have a following and a consistent number of downloads and yes, I would always love more downloads and yes, please do go recommend this to your friends, but I wouldn't have the downloads if I had that I have, if I hadn't been consistent.

And people like, I see a lot. They just don't want to stick at stuff like they start it and it doesn't change their world and then they stop and it's like the people who they're looking to have been doing this for years and I don't care what industry you're in, whoever you're looking at, the chances are they've been doing it a long time.

So, you know, when you look at some of the like huge people in the world, like Lewis Howes, I have no idea how many episodes he's got now on his podcast. But. A huge, huge amount. I recently downloaded the Growth Day app by Brendon Burchard. As you know, if you listen, I've seen him a few times. I met him in Austin not that long ago and he's excellent and I do really enjoy him and I got his Growth Day app and every day he does this little bit, this little voice thing, this audio thing, right?

And I'm laughing because he starts it off with, Hey, Striver. And I nearly did his accent. I'm not going to do his accent. And the fact that he calls you striver every day just makes me laugh for whatever reason. But anyway, like every day he's showing up and doing that and now he might batch record them and that's fine.

But every day I can go into the app and I can hear a new message from him. It might be that he does. I don't know, two years worth and then runs them again. Like, I don't know. But if I went in and he didn't show up and he was inconsistent, I wouldn't be in that app. So it really is about that consistency.

Now, it's not to say you can never change your mind. It's not to say that you can go, you know what, I've done that. It doesn't seem to work for me or I'm not gelling with it. I'm not loving it. And you can change your mind. That is absolutely fine. But you've got to give it a proper go. You can't do it four weeks, five weeks, three months, and then go, yeah, no, this didn't work.

Like, well, you can, you can do what you want. It's your business. But don't be annoyed by the results you didn't get by the action you didn't take. Let me say that again. You can't be upset about results that you didn't get because of action you didn't take. So you can't be annoyed that you didn't get a huge following when you weren't consistent with the podcast, that people aren't interacting with your social media when you're not consistently showing up and interacting with them.

And I know that might feel a bit harsh, and even I feel a bit harsh saying it, because I know it's not as simple as that. I know it's not as easy as that. It never, never is. But we've got to be honest with ourselves. So consistency, as much as we loathe it, it is important. And then the last one is you need to be relentless.

You are going to fail over and over and over again. And no matter what level of your business you get to, no matter what income you have, you will still fail. I still fail all the time. There are still things that I launch and they fall on their backside. Now, my version of falling on their backside compared to your version might be different.

However, I still have things that fail. I still have things that go wrong. I still fail. It will never change. There are people I look up to and aspire to be like, who are failing every day, who are struggling, but the difference between them and the people that I don't know because they're not showing up in my world is they're relentless.

I've been doing this nine years now and I still keep showing up and I have moments and times where I don't want to and I don't feel like it and things are difficult and I think I'm just going to hide for a little bit and that's fine. But I show back up again. I might take a few days. I might take a week.

I might take even longer than that, but I will show up again. And my level of showing up can look different. So we're always posting on social media. There's always a podcast episode out. I always show up in my club. However, it might look like I don't go on instagram stories with my face on all the time, or I might not do extra things, or I might not be speaking in many places.

That relentlessness, that tenacity to just keep going. I feel like sometimes in our businesses we get a no, or we get a something doesn't work and we just go that isn't going to work. We just fail and we stop and that is the worst thing we can do in the first episode Not in the first episode, in the episode that I re listened to that inspired me to do this one.

I gave some quotes and And they were really, really good. And then I went and Googled a load of them because I was like, I need some more of these quotes. But basically, if you search something like, I can't remember what I searched, but basically people who have failed before coming famous, you will get so many things.

Like Walt Disney being told that a mouse would never work. I also think, yeah, he was, fired from a job because he lacked imagination and had no good ideas. J. K. Rowling was on welfare when she did her books and they were turned down by loads of people. Oprah Winfrey was told she was unfit for TV. I mean, that's just disgusting anyway, but, you know, just proving that if you're not what someone thinks the idealistic look is.

Anyway, that's another complete rabbit hole I can go down to. The Beatles were dropped by their record label, Steven Spielberg was rejected from film school three times. Like what if he hadn't done the fourth time? What if he hadn't carried on? And then in the actual podcast episode, I give this quote, which is so good.

It's from Michael Jordan, and it says, I've missed more than 9,000 shots in my career. I've lost almost 300 games, 26 times. I've been trusted to take the game winning shot, and I've missed. I failed over and over and over again in my life, and that is why I succeed. You've got to keep going. If this is a time where you are like, I can't do this anymore, just try one more time and then maybe that will be the one time that makes a difference.

Honestly, the relentlessness and the tenacity are the things that make people successful. So I really hope you've enjoyed today's episode. I really hope that you're able to share this with someone who you think needs it and will benefit from it. And I know you've got all those three things.

I know you've got the passion, the consistency and the relentlessness to make your business a wild success. Have a great week and I'll see you next week.