5 Powerful Lessons That Every Business Owner Should Learn

Being a business owner is hard.

Now, don’t get me wrong! I love it. I love the creativity and talent I see every day in my team. I love the passion I see in our clients. I love the daily challenge I’m presented with to lead and grow my business to new heights. And I love having flexibility with my family to live a life I love.

And while these things don’t necessarily make my job any easier, they do make it so incredibly worth it.

So, while I could give you all the helpful business advice on how to start, grow and accelerate your business - I’m not.

At least, not today ;)

Because what I want most for you is deeper than that.

I want you to enjoy what you do wholeheartedly. To wake up on a Monday morning and start your day with excitement and confidence.

I want you to be unafraid to lead your business forward with the vision you have for it. And I want you to build healthy habits and relationships with your team.

I want all this for you.

So, in this article, you won’t find fluffy encouragements or empty sentiments. Mostly because I don’t believe you can stand firm on fluff. And also because everyone knows you can’t go very far on an empty tank.

Instead, I’m giving you a behind-the-scenes look at owning a business - the pretty and the not-so-pretty.

I hope you learn some of the most impactful lessons I have had to unpack and digest over the years. Because I believe It’s truths like these that impact our success the most.

The Buck Stops With You

This is one of the first things you’ll learn - and it’s not a fun one. It is, however, necessary to understand.

As a business owner, the buck stops with you.

In other words, your business is your responsibility. So whether the result is good or bad, you must be willing to accept the criticism - regardless of whether that critiquing is constructive or not.

Nobody likes the blame game. And frankly, it will get you nowhere.

So while nobody likes to hear the words “it’s all your fault”, sometimes that's what we have to accept. Only then can we take the necessary steps forward to healthy reconciliation.

My advice? Be the bigger person.

Kind Candour Is Necessary.

Who here loves confrontation and conflict resolution?

(I’m not expecting a lot of hands to go up)

If you’re like me, the resolution part is easy! But getting there is less than fun.

I used to shy away from confrontation because it seemed like a more peaceful solution.

But if you want to build a successful business based on your and your company's core values, you must face the issue head-on.

Otherwise, what started as a simple disagreement could lead to a very unnecessary argument.

In my experience, learning to be upfront and kind is the best approach to confrontation - AKA cultivating kind candour!

Your Best Work Comes From a Place of Rest.

Do you ever feel guilty for taking a break?

For setting a strict boundary on your schedule?

Or for limiting how much time you spend at the office?

You’re not alone!

In North America, we are taught to EARN our rest.

In our fast-paced world, getting as much done in as little time as possible has become more than a social norm. It’s become the goal of most career-focused individuals!

But in reality, this mindset is causing increased stress, anxiety and burnout - especially as businesses recover from the COVID-19 pandemic.

According to a CFIB and Nexim Canada study, 66% of small business owners are close to burnout.

And this burnout is precisely why boundaries and rest are so necessary.

To work on and in your business effectively, you need to learn how to approach it from a place of rest - not exhaustion.

Habits Outweigh Goals

In my experience, a solid vision and healthy habits always outweigh a goal.

You might be shaking your head in disbelief right about now. After all, how can a company move forward and grow without a goal in mind?

But I’m not telling you to stop making goals.

In truth, I love goals!

But I believe the habits we build and implement in our daily lives hugely impact these goals.

I believe practising core values and implementing healthy routines are the ONLY way to effectively achieve these goals.

Every company has a vision. And everyone in that company needs to understand the direction that vision is taking them.

But what are you and your team doing to get there?

How can we build strong, healthy habits that support our vision?

Not Everyone Is Going To Like or Understand You.

We touched on this topic briefly in our 2022 Social Media Engagement Guide. But, as a business owner, I believe this is one of the greatest lessons you can learn.

Here it is:

Not everyone will like you.

And not everyone will understand you.

But, regardless of who does or doesn’t, you must stand firm on your values. You must treat others as you would want them to treat you - with respect.

Let’s Keep This Conversation Going!

At OSM, we love connecting with and supporting local businesses. 

Our VISION is to help you cultivate, grow and thrive.

And we make it our DAILY HABIT to give you the practical tools and creative solutions you need to do just that!

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