Updated: Nov 11, 2018
“One thing is common with very successful people. On a minute-by-minute, day-by-day practical basis, successful people don’t go around succeeding all day. Successful people actually fail. Only through failure is there a pathway to success.” This quotation of Simon Woodroffe was used in an article by Ian Ashbridge describing the leadership style of the Yo! Sushi founder. In my opinion those who venture into a small business truly have the desire to succeed. The need for achievement is not a personality attribute which is necessary for operating a successful business, because failure can breed success. Those who need to benchmark their professional progress on a personal level may find a greater sense of achievement in a corporate structure, with performance based incentives. A small business may not see a profit or a measurable achievement for several financial periods or even a few years.
When taking the internal locus of control into account, those who believe that they are masters of their own destiny are either on the way to success or somewhat unprepared for the challenges that business can bring. Those who believe that their business fate lies in the hands of others operate with an external locus of control. The factor that really determines the rate of success in a business, concerning both types of locus of control, is the entrepreneurs’ ability to adapt to change, because change is inevitable.
One of the benefits of becoming an entrepreneur is that you can set your own schedule, depending upon the degree of the entrepreneurs’ interaction with clients, employees, and suppliers. In a business model, like a sole proprietorship, in which there are a very limited number of employees, controlled supply line, and targeted client base, independence is indeed a positive benefit.
For small business operators who have the natural need to lead, given the right circumstances, success can be measured by the accomplishments of those who are willing to follow. Although someone has a desire to lead in a small business, if the concept, market position or economic factors involved in running the operation are not aligned then overall success may be jeopardized.
Indeed a successful business person is very much like a “Heffalump” I know one when I see one. The elusive “success image” is as differentiated as the number of individuals who seek success. I believe that a successful business operator is one who possesses an ability to analyze past challenges and achievements for the purpose of goal setting and benchmarking.
Ashbridge, Ian. “Success means stepping outside the ‘comfort zone’.” Farmers Weekly 8 Mar 2018: P 77.