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11 Traits of a Successful Business Owner

In 2021, there were 5.6 million businesses active in the UK; 5.5 million were considered small businesses (between 0-49 employees), 35,600 businesses were medium (50-249 employees), and 7,700 were large (250+ employees). This number has dipped and soared throughout the years, but there has been a considerable increase since the beginning of the 2010s.  

Many business analysts believe that this will continue to increase, with changes in attitudes towards work-life balance since the pandemic began, making it a regular occurrence for people to quit their jobs and start their own business venture. 

However, starting a business can be a challenge, and to truly thrive in the industry as a business owner, it’s advantageous to have crucial traits and attributes. 

  • Discipline– a successful entrepreneur can focus on their business and not let distractions get in the way. Discipline allows a person to maintain focus on their goals and not steer themselves away from success.  
  • Confidence– to achieve your goals, you must believe that you are worthy of them. A positive attitude towards yourself and your business will make the difference between a business that thrives and one that struggles.  
  • Flexibility– in business, it is important to understand that everything is an opportunity, and sometimes things don’t always go as planned. Flexibility is crucial in starting a business, as it is necessary to adapt to any given circumstance.  
  • Bravery– entrepreneurship is all about taking risks, accepting rejection and learning from your past to make a brighter future. A tremendous amount of courage is needed to realise that a knock to your business is not a knock to you personally and to believe that you can come back from setbacks.  
  • Competitiveness– to be the best, you must genuinely believe that your business is better than your competition.  
  • Kindness– showing compassion towards your community, customers and employees is vital to becoming a successful and respected business. Nobody wants to celebrate a business that got successful through cruelty and bullying.  
  • Determination– a good leader never accepts loss and defeat as the end of the line. Persistence, even in the wake of failure, will truly help a business thrive. 
  • Creativity– a business requires creativity, not just to set it up, but to continue its success. Coming up with new ways to progress, bounce back from mistakes and market your business all require creativity.  
  • Work ethic– a good boss doesn’t just sit back and wait for other people to do the work. They will know what everyone in the team is doing, understand how the business is working and set an example for those they employ.  
  • People skills– communication is incredibly important to running a thriving business. A boss who works hard and engages positively with their customers and employees is much more valued than one who keeps themselves distanced from their business. 
  • Passion– if you want your business to flourish, you have to believe in it yourself. Having no faith in yourself or the company will come across to customers and employees, and you will likely fail. 

It’s advantageous for franchise owners to have many of these qualities too. However, the great thing about owning a franchise is, we’re here to support you, so you don’t need every single quality listed above. Our brilliant head office team and amazing network will have your back and support you through the highs and lows of running your franchise. Our unrivalled franchise package makes a We Love Pets branch a brilliant option if you want to hit the ground running with a successful pet care business. Our business method is proven to work and guaranteed to help maintain good business growth.  

Our We Love Pets Franchise package sets you up for all that you need to run a business that blooms. We work with you to provide territory mapping where your branch operates, rights to trade, and show you how to market to your area, ensuring you get all you can out of your location. The first year of licensing, insurance, branded uniform, and social media is covered by us to kickstart you to success, so you don’t have to worry about funding it whilst you start your business. We give you professional training in business and pet care, along with supporting documents, so you can feel happy knowing you’re qualified to do what you love. We also provide ongoing support from an expert network, including regular check ins with head office and the franchisee network.  

Click here to download one of our brochures to find out more about owning a We Love Pets Franchise.