Small business owners who have a knack for efficient inventory and supply chain management, strategic planning, and effective promotions would seem to have an open road to success.
Yet, some intangibles can either give merchants an added boost or derail their ability to stay in the black. One of the most critical is personality traits. A small business owner with a proverbial glass-half-full outlook and a resilient disposition is more likely to achieve their goals than someone who sees only gloom and doom on the horizon when sales are down.
The greater a business owner’s positivity and never-say-die attitude, the better they can focus on how to run the business as opposed to those who are pessimistic, distracted, and discouraged.
An encouraging headspace spurs creativity and innovation. For instance, if sales are sluggish at an independent bookstore, an owner predisposed to negative perceptions may believe that their situation is beyond repair. This could result in cutting staff hours, reducing the frequency of sales and other methods of self-sabotage.
Determined small business owners tend to land on their feet more quickly during rough times. For instance, a hopeful owner of an independent bookstore might start a frequent buyer club, host book group nights, and launch a marketing campaign focusing on the advantages of buying local.
An optimistic attitude also motivates staff. Business owners who encourage a team effort instill motivation and excitement among employees. Staff who feel respected are more likely to share their ideas about enhancing revenue.
Employees very often will absorb your character traits, whether you radiate confidence or despair.
Small business owners must especially guard themselves against frustration that manifests itself as rudeness and even anger. Berating your employees and giving terse responses to questions is more than discouraging; it’s demoralizing. Staff will have little motivation to do their best for a seemingly selfish and uncaring boss. Leading to seeking employment elsewhere.
In addition, customers might overhear an outburst and decide to bring their business, and your profits, elsewhere. Business owners who cannot keep their irritation at bay might even be short-tempered with shoppers, leading to an outright loss of respect and reputation. These merchants’ attitudes might also lead to impulsive, costly decisions while managing inventory and finances.
However, a welcome, warm and content atmosphere will figuratively and literally invite consumers through your doors. Friendly, helpful staff, and an owner ready to provide additional customer service are huge factors in winning loyal patrons.
This is especially significant given today’s shopper, who can be tough and demanding. An unmotivated employee may simply point in the general direction of a product rather than give specific directions or walk the shopper to the item.
In the end, small business success relies on a proprietor being a business mastermind who is also mindful of their attitude and its effect on customers and employees. In a very competitive market, having a positive or pessimistic outlook could be the ultimate revenue dealmaker or dealbreaker.
