What It Really Takes To Be A Successful Business Owner — Ep. 139

by | Mar 16, 2022 | Podcast

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Between my clients, colleagues, and friends, I have had the pleasure of getting to know a lot of business owners really, really well. And, it’s always interesting to see that the business owners that are making things happen and creating the success they want in their business all have some things in common. It’s undeniable that there are certain characteristics of a successful business owner that go beyond personality or just “who they are.” but more so as a role they step into that takes them to the next level. Let’s chat about what it really takes to be a successful business owner in today’s episode.

“You are in control of what is being stored in your subconscious mind and this is very powerful to know about yourself.” – Shawn Mynar

“If you really get in touch with your intuition, you’re always going to be intentional and purposeful.” – Shawn Mynar

“Failures are just learning experiences. They are just giving you these spaces for growth.” – Shawn Mynar

“Entrepreneurship is a big, huge game of risk… Successful business owners know that with that risk comes some of the biggest rewards you could ever experience.” – Shawn Mynar

FULL EPISODE TRANSCRIPTION BELOW: (transcription is auto-generated so expect errors in grammar, punctuation, and spelling)

Between my clients, colleagues and friends, I’ve had the pleasure of getting to know a lot of business owners really, really well. And it’s always interesting to see that the business owners that are making things happen, and creating the success they want in their business, all have some things in common. It’s undeniable that there are certain characteristics of a successful business owner that go beyond just personality or who they are. But more so as a role they step into, that takes them to the next level. So let’s chat about what it really takes to be a successful business owner in today’s episode.

Hey, hey there, friends, welcome back to the unstuck entrepreneur podcast. So grateful, and happy to have you here, checking out this episode, which is all about what it really takes to be a successful business owner, I have created a list of nine, we’ll call them characteristics, for lack of a better word, nine characteristics that pretty much every business owner that I know, that has created the success they want has. And that’s not to say that this is 100%, every single successful business owner has all nine of these, this is just in my own experience, what I know to be true about myself, what I know to be true about the clients I have that are crushing it. And my colleagues and friends that I also have that are entrepreneurs, those that are doing the thing, what sets them apart, or what characteristics do they have, that not everyone has, that kind of really makes it so that they are in or really have created the right environment for them, and their business to thrive. And really, as you’ll see, when we go through the list, it’s kind of this way of being.

And that’s really what I wanted to make sure to share with you all before we get into this list is that these traits, these characteristics, they’re not ingrained personality traits that you either have or don’t have. So it’s not like, Oh, you have brown eyes. So you’ll never have a successful business or you’re introverted, or you’re talkative, or whatever. These like personality traits or characteristics about yourself that aren’t changeable. They were the way you were when you were born. And they still are the same way. Although of course, even things like that can change, Hey, I’ve even seen people’s eye color change over the course of their lifetime. So nothing is static. But all this to say that these business owners that are achieving the success, really creating the business that they want, it’s part of an identity or a mindset, or an internal representation that they have created for themselves. So really what I’m saying it’s just a really long way of saying that this is changeable, it’s changeable.

And let’s have that discussion really quick, because it’s something I just talked about on a coaching call in holistic business starter with all the members there. And I think it’s a really important one, to continue to remind all of you the whole talk of an identity. Or we can also call it an internal representation, which is what I do a lot, because I think it gives a better idea of what I’m talking about. So those two things are interchangeable. But what happens is your subconscious mind, which is 95% of our mind has a representation of you that it has identified that it has created for you, based on your beliefs, your stories, things that you have seen things that you have felt, and it creates what it thinks is this internal representation or this identity of you. And then we have our conscious mind, that is the gatekeeper to your subconscious mind. So the conscious mind, which is only 5%, although it’s a very powerful 5% Because it is the one that determines Yes, this goes towards my internal representation. So I’m going to take this in, or no, this doesn’t go along with my internal representation. So I’m not going to let this in. And then so all of the information that you receive throughout the day, which is millions and millions and millions of bits of information, the only ones that you take in the only ones that really get absorbed by you or even noticed by you, is what your conscious mind has determined can get into your ex experience based on the identity that your subconscious mind has created. I hope I have not lost you.

But the whole point of this conversation is to say that the identity that you have created for yourself or your subconscious mind has created for you, is based on your beliefs and your stories, things that you potentially have never even experienced. But you heard from your parents, your grandparents, your siblings, your cousins, your uncles, and aunts, obviously, family, but also your friends, your teachers, people that you grew up and kind of got this sense of what life is, and also the experiences that you’ve had and how that has shaped and formed your identity, most of which happens early on in life. So we’re talking adolescent years, even baby years, and teenage years, where we’re really still forming our identity. That is where all of this comes from. And so now here you are 2030 4050 years later, creating a business and deciding whether you will be successful or not based on that old identity. And that is changeable. Because we can change our beliefs, we can change our stories, we can change what we have determined to be true or false about ourselves, you are in control of what is being stored in your subconscious mind. And that is very powerful to know about yourself, you are not stuck with all of the traits and characteristics you have held on to your entire life, you are not stuck with all of those, you have the ability to change what you want to change, shift what you want to shift and show up in a different way.

And alter your identity or your internal representation to be true with what you desire. And that is the work that we do together in holistic business starter. There’s also a lot of information here on the podcast that you can refer back to. That’s not what I want to get into it to today, because it’s not the point of this episode. But the whole reason I’m saying this is so that you know that the list I’m going to share with you today, based on what I have seen come through from successful business owners is really just a list of ways they have shifted their identity to be that of a successful business owner, which means that they now have the traits that we’re going to talk about today, because they got themselves out of a space where they were fighting against them, and allowed themselves to let go of what was holding them back. So they can grow into the space where they could take on this identity. Let me repeat that successful business owners have shifted their identity to be that of a successful business owner, which means that they now have the traits that will help build that success. Because they got themselves out of the space where they were fighting against those traits. They allowed themselves to let go of what was holding them back. And now they can grow into this space where they can be a successful business owner. It is changeable, my friends. And that means that this conversation may be very, very clear this conversation is not meant to be a conversation of are you or are you not cut out for this gig for this role of successful business owner. That is not what I’m saying at all, this is a conversation way for you to see where you may still have some areas of opportunity, some things that you need to work on beliefs that are no longer serving you and identity that you would like to shift. And you may not even know that any of this is there right now.

And so you have these blinders on and you’re trying to work towards your business, you’re trying to do what you’re supposed to do. But you have this subconscious programming going on that’s working against you, when really you have the ability to change that we all have the ability to change that and then you can get into alignment with the success that you want. Okay, now that we got that out of the way, let’s move on to this list. I hope I didn’t lose you in that talk of subconscious mind conscious mind is really important to know about yourself and it is really super cool to know and to think about. So let’s get into this. These are in no particular order. Just as I thought of them I wrote them down. So no particular order of importance number one is successful business owners take inspired Weird action.

Now, this seems probably like the most obvious one like, of course, if you are a successful business owner, you work at your business, you take action, you do the things that you need to do, and you go for it. However, it is one of the biggest blocks that I see, it’s really truly one of the biggest differences I see between those that are having success. And those that aren’t. Because those that are struggling to find the success and to build the business, are potentially taking action. But that action is busy work, it might be intermittent, it’s not important, it’s definitely not inspired, it is a way for that person to potentially feel like they’re taking a step forward. But if they were to really, truly, truly sit with it, and really get in touch with what needs to be done, and what would be the best way to move their business forward and build that success. It’s not what they’re actually working on. It’s the safe thing that they are working on that they are spending their time on, which in my world, I classify that as busy work. So in order for your action to be that of a successful business owner, it needs to be consistent. It needs to be intentional, it needs to be purposeful action towards your business growth. And that’s why I call it inspired action, in my opinion, inspired really kind of clumps all of that together into one because you’re always if you really sit with it, and you really get in touch with your intuition, you’re always going to be intentional and purposeful.

And because it’s always there, that means it can be consistent. And that’s what’s required, you have to be consistent. And we’ll get into more talk about consistency in a little bit. But it cannot be intermittent. It can’t be like one thing here and one thing there. And then I’m just going to disappear for a month because I got scared. And then I’ll come back and try again. But then I got scared again. It’s consistent, intentional and purposeful. So it has a purpose behind it. Like you can actually see how, when I do this, my business will grow in this way. That’s what we’re looking for. All right, number two, they are committed to their business. So successful business owners have a level of commitment that not anyone has. And this is really obviously as all of them are. But I’m gonna just say every time I think, really super important because you have to want it. You have to want your business in such a deep, profound way, not just the idea of having your own business, but the true desire to make it work no matter what. So yes, you want the schedule, you want the lifestyle, you want the income, you want the freedom, you want the impact, and to help and to connect with these people. So much so that you remain committed to the vision, even when it doesn’t happen immediately. And that is the commitment. That is where the consistency comes back in.

Because I can tell you that very, very, very rarely does the success that someone wants happen immediately or happened in the first month or happen in the first year. It takes that commitment to see it through, remain committed to the vision, even when it doesn’t happen immediately. You still want it. And what I see is that most people just don’t want it that badly. They want it if it happens easily and quickly and there’s no stress and there’s no waiting. And they don’t have to be consistent even when no one is reading their stuff or liking their posts or all that stuff that we take to mean things when they don’t really mean anything that committed business owners see it through even when it’s hard, even when it’s not so great even when it’s taking a while Even when something flops, or there’s a failure or something didn’t go as planned, they’re committed to their business, because they’re committed to every single thing that that business is going to bring into their lives. And they know that it will happen, even if it doesn’t happen immediately. And that is where that commitment comes in. Number three, they take failure as feedback.

Successful business owners are willing and able to fail and fail, often, they are willing to fail, and then take what they learn from that failure, get back up and try again, and then fail, and then learn and get back up and try again, and just rinse and repeat that over and over and over again. And they know that that cycle isn’t going to stop, no matter where you’re at, no matter how much quote unquote, success you’ve achieved, it’s still going to require failures, you’re still going to come up against these failures all the time, that is just part of having a business and then to No, and you have, you are in complete control of how you view failure to know that those failures are just learning experiences, they are just giving you this space for growth, and they are actually really, really profound situations for you to be in as a business owner. Because you can take that feedback, you can learn and grow and adjust and make something even better out of that what once was a failure, and a business owners that have success and make it happen.

They know that and so they’re not afraid of it, they’re not afraid of failing because it just gives room for growth and expansion better than you could have had without that failure. Number four, successful business owners have a deep desire to help others. And I know a lot of you listening right now have this already. This is why you’re here doing what you’re doing and building the business that you’re building, you have a deep desire to help others, every single business that I can think of, and I would challenge you to do this to just think of any random business. The whole goal is to help someone with something. So it could be to help them decorate or to help them clean, to help them dress stylishly, to teach them something to inspire them to do something to be of service to them. A lot of you listening want to help people get well whether that be physically, mentally, emotionally, spiritually, with their money with their time with their family. Just everything, there’s this goal to help someone else.

And this really then comes back to that level of commitment that successful business owners have because one of the biggest reasons for this level of commitment is because they have such a deep, profound desire and knowing that they are here to help others to be of service to someone else. And that is why so many people get into business, and maintaining that desire. And having that commitment in order to do that for someone else leads to success. Number five, they are willing to take risks, oh my goodness. Entrepreneurship is a big huge game of Risk, constant risk, every single thing is a risk. And successful business owners know that with that risk comes some of the biggest rewards you could ever experience. And it’s worth it to go up against those risks. And so that business owner can see the reward, and sets their sights on VAT reward instead of focusing on the risk or the potential loss or what could go wrong. So for me personally, I have a high level of risk tolerance. I just don’t really see that much as being an actual risk. And I think you know, I’m also a natural optimist, and I think the reason that I have a high level of risk is because I can really hone in on and really visualize and really get excited about what could Go right, much easier than I am thinking about what could go wrong. Like, yeah, I know it’s in the back of my mind. Yeah, I know there’s that possibility. But I really put my energy just very naturally towards what could go, right? What could go well out of this risk? And how much greater would my life would my business with my finances, would everything be going towards that end. So this is, again, something that can be learned, I was not always this way by any means. And I’m still not this way. Like, I am not adventurous, I am scared of most things. Because there’s a risk involved in in that case, I think more about what could go wrong.

But when it comes to business, and success, and finances and things like that, I can very much see what could go right in a very clear picture. Because I’ve been able to train my subconscious programming to feel that way about those things. And you can do that too. And I think the business owners that are really going for it and really making something out of their business, they are willing to take those risks because they see those rewards. So clearly. And I just want you to know that being in business means that you are going to have to take some risks. And so if you are super, super, super worried about taking any risk, like if you just want to play it safe 100% of the time, then you have some subconscious reprogramming to do that’s all that means it doesn’t mean you shouldn’t have a business, it doesn’t mean you’re never going to be able to grow, it means you have some inner work to do. All right, moving along. Number six, they’re tenacious I wanted specifically to use this word instead of using the word determined, which is kind of the same thing. But tenacious takes it to the next level is also a super cool word.

But tenacious in the dictionary means that they are not ratably relinquishing a position, principle or course of action, which kind of goes along to having that level of commitment. And being consistent, even when things aren’t building or out, aren’t growing, aren’t changing as quickly as they want or hope. That means they are tenacious, they are determined to make this thing work. Again, that’s something that I grew into being I wasn’t always this way, but I am now like, Heck, I am doing what, whatever it takes, whatever I need to do, to keep my business humming along, to grow it to what I want it to be, it’s happening, there is no giving up there is no throwing in the towel, there is no saying it just isn’t possible. Tenacious being tenacious, having tenacity is something that successful business owners have, because they have that level of determination to know that they are going to make this thing work, they are going to reach that level of success. Number seven, successful business owners love learning and growing, which you absolutely need. Because having a business means that you learn and grow every single day. And this kind of goes back to those failures. And what those failures actually are, are just great, amazing learning experiences that you will grow from.

So you have to be able to do a both and not just with failures, but just with every moment or every day, every month, every year, knowing that you are growing and expanding as a human, and really enjoying that process. Because that means that you can learn and grow as a business owner, as a service provider as someone who is helping another human. And I think the opposite of this would be either, quote unquote, knowing at all which, as a business owner, you just have to remain humble and know that you don’t know it all. Things literally could change overnight, and you’re learning and shifting and growing again. So remaining humble remaining open to receiving new information and to kind of always feel like you’re a beginner like you’re just figuring things out as you go, which I think is so fun. And it really helps to feel like you don’t have to be an expert. You don’t have to know everything because it’s all just going to change anyway with how fast you know, tech changes and situations change, just remaining open to that, but then also complacency. There is no room for complacency as a business owner, because then that means that you’re stalled out. That means that you’re not learning and growing and expanding and evolving, as the rest of the world does. And that’s when things can really head south really quick. So again, remaining open and eager and willing and excited to learn and grow and do that at any given moment and make it a continuous process. And really enjoying that process is so important to be a successful business owner.

Okay, number eight, we’re almost there. They invest in themselves and their business, ooh, this is such a big one, such a big one. Because what I see so often are people who are trying to build a business, specifically in the online business space. But I don’t think that it is only in that space, but from what I see, and that’s where I work most. They rely on a bunch of free information, and then expect to take what they just learned in that free information and turn it into a successful business. And I have yet to see or know of anyone who has been able to build a successful business that they love, based strictly off of free info. I mean, even from an energetic perspective, that just does not make sense. And so successful business owners, they know the difference between spending and investing, and they have a healthy relationship with money, too. They acknowledge the flow of money and the exchange of money and don’t hold too tightly to their money out of fear. And that is what I see a lot of new business owners doing. And then it creates an environment where financial success literally can’t flourish in this space of holding on to the flow of money, not understanding the energetics of money, the exchange of money. And successful business owners have figured that out, and they are willing to invest in their business, in their success, and in themselves. All right, the last one, number nine, successful business owners have integrity, perhaps the most important one, right here, integrity, meaning they do what they say they’re going to do, both in the case of talking to another human, but also with themselves. So if you say you’re going to be there, you’re going to be there, if you say you’re going to do something, you’re going to do something.

And the same thing as a goal that you set for yourself. Even if no one else knows about that goal, you haven’t told anyone else, it’s just you that you’ve created that plan that idea, you still have integrity with yourself. And that really comes into play as a solopreneur. When you’re trying to build a business by yourself, you have to have integrity with yourself. Alright, so that will wrap up my list of what it really takes to be a successful business owner. And now it’s time to get real honest with yourself. And if you’re a business owner, who is currently not seeing the success that you want, I would recommend you go through this list and give yourself a rating in each of these characteristics. Like on a scale of one to 10. How much is this characteristic showing up for you right now, specifically as it relates to your business. And as I mentioned, at the beginning, I am sharing this list with you not to call you out in any way not to say hey, you shouldn’t be a business owner. But instead with the hopes that you will see some of the opportunities to do some more growth, some more inner work and to really shift some of the beliefs and the stories that you have that your subconscious has taken to be true. And then if you heard this list, and you’re nodding your head in agreement, like yes, I have that that’s so great. But you’re still not seeing the success that you’re looking for with your business. Then your question becomes, am I putting this into practice? Because you can be tenacious, you can be great with money, you can love learning, you can love helping people, but are you actually putting it into practice in your business right now, and that is something for you to get honest with yourself about. And if this is you and you’re ready to step into your role as successful business owner, then head over to shawnmynar.com/selfstudy and you can get started on the holistic business starter self-study option. Right now I have it open for another week. So you have a few more days to go Get started on your business journey, starting with inner work, and then heading to the outer strategies and we do it all together in one class. And be sure to head over to Instagram send me a direct message and let me know what you thought of this show or any of your favorite episodes. I love hearing from you all. You can find me over at unstuck Entrepreneur on Instagram, and until next time, take care

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Hey there, I'm Shawn!

I’m obsessed with nitro cold brew, 90% dark chocolate, and helping coaches and practitioners build a business they love. With nothing but a passion for helping others and the desire to never have a boss again, I quit the corporate world and built my own million dollar coaching business over the past decade. Now, I help others do the same.


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