The Director’s Centre, which aims to help businesses become more profitable and fun to run, ran a survey called the ‘Magic Million Survey’ to try to get to the bottom of what makes one person able to become a millionaire and another not.
High achievers had a strong sense of self belief and a tendency to take responsibility for themselves and the factors around them. Whereas, those who got stuck in a rut and failed to progress and grow their businesses tended to blame external factors and have self-limiting beliefs.
Fear is often the main factor in a lack of success, as people are afraid to risk losing what they have, are afraid of failure or are afraid to relinquish control of any aspects of their business (critical for a truly scalable business).
On the other hand, successful entrepreneurs are usually more self-aware, and know that they are often the bottle neck, holding the business back from even more success.
The successful business owners who took part in the survey all presented the following traits in one combination or another: charismatic leadership, a ‘can do’ attitude, a fast-moving, exciting business environment, motivational rewards systems for staff, a good body of staff… and luck.