“What makes some owners successful and others not?” This is a common question. While there is no one single answer, as Business Coaches, we commonly see that employees and owners think differently in a number of areas.
Owners aren’t better than employees however, successful owners generally do think differently than many employees and it’s important to be aware of the differences. In this article, we’ll take a look at 3 ways owners think differently than most employees.
1. Personal Interests
The first area is "personal interests". Employees tend to focus on their personal success within their area of responsibility. Their managers usually evaluate and reward them for this. As an employee, work relationships, internal politics, systems, processes, bigger budgets, and more responsibility are important areas to excel at for career advancement. Employees look at these from a self-centered perspective for career growth.
Owners need to focus on actions that will grow the business by serving customers. Yes, as a result, this will include improving work relationships, systems, processes, increasing budgets and expanding responsibilities. But, all of this growth is only after the business grows. Owners must focus their actions on improving how the business serves customers. This is what causes growth and creates bigger and new opportunities for all the other areas. Customer focus causes business growth and business growth creates opportunities for employee advancement.
2. Personal Roles
The second area is “personal roles”. As mentioned earlier, employees are typically evaluated and rewarded on how well they "do their job”. Do your job “faster” or “better” and you can expect positive career results.
Owners are always looking to grow the business and opportunities to attract more customers and improve their experience. While owners’ complete tasks to serve the customer, they are also looking at more than any one role. “How can we serve more customers? How can we serve them better?"
3. Efforts and Results
The third area is around “effort and results”. Employees look for promotions and raises in advance of, or simultaneously with, new responsibilities instead of demonstrating their ability, improving their skills or getting results first. This could be summarized as a reward before results.
Owners understand that investment in effort always precedes results. Often that effort is done for extended periods of time before any results are realized. Unfortunately, there are times when efforts are done with nothing more than learning as the achievement. The effort isn’t the reward. Results provide rewards and results always require effort first.
Success as an owner is incredibly rewarding and the three areas we covered above are crucial to that success. Owners focus on customer success for business growth. They look beyond any one role and keep the customer at the center of the business to ensure ongoing growth. And finally, they understand that effort must precede results. You can’t expect rewards before putting in the effort.
All three areas can be stated this way:
- Business growth provides opportunity for personal growth.
- Customers are the center of everybody’s role.
- Effort is the first step for rewards.
Success as an employee is enhanced by these. Success as an owner requires these.
Do you stand out from an employee and think like an owner? If so, it may be time to consider being a business owner. There has never been a better time to run your own business.
If you have questions or want more information on how owning a FocalPoint Business Coaching practice makes being a business owner possible, let us provide you with some additional information. If you are looking for tools, training or Coaching on ways to improve in any of these areas, let’s connect. The next step would be to set-up a 10-15-minute call to clarify if what you’re looking for is something we can help with. Contact us today!