3 Things Wealthy Business Owners Do Differently

Much is made of analysing the personality traits of successful entrepreneurs and business owners. Some appear outgoing. Others are introverts. Some lean right, others left. Some are flashy. Others are monk-like with their money. Their diversity can lead one to the conclusion that there are no common personality traits among successful founders.

Rather than trying to understand who they are, let’s look at what they do.

1 They read business books. My clients know that the Business Coaching programme includes reading a number of books or listening to audiobooks, or getting information through webinars, podcasts or YouTube. What’s consistent is their continuous learning pattern and the desire to leverage other people’s smart ideas and put them to work in their own company.

2 They join masterminds. In the absence of having a board of directors, successful founders often use a peer board to gain an outside perspective and share business best practices, I facilitate one on a monthly basis.  Initially popularised by Napoleon Hill in his class book, Think & Grow Rich, a mastermind gathers a small group of peers to act as one another’s board. These groups become lifelines for owners as they navigate big decisions in their businesses and personal lives.

3 They ask questions. The character trait that makes successful entrepreneurs inclined to read business books and join peer groups is their natural curiosity. They have an unquenchable thirst for knowledge. No matter how successful, they never get full.

You may be surprised not to see the stereotypical attributes of successful entrepreneurs. Many founders are also action-oriented, competitive, tenacious, etc., but all those common personality traits are who they are. My interest is what they do. Actions are the measure of a person. Take a look at what a founder does to stay sharp, and you’ll see a consistent pattern among the most successful entrepreneurs you know.

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