As a business owner, your company ultimately takes on your values and priorities, be that good or bad. Just as your outlook on life sets the tone for how happy and successful you can be, your motivation and perspective with respect to the business establishes the operating direction and performance expectations. Your view frames the values and practices of your business, which in turn impacts profitability, efficiency, enthusiasm, innovation, customer satisfaction, and the sustainability of success.
Your relationships with family members, key managers, employees, strategic vendors, creditors and franchisors are all significantly affected by your attitude towards the business. Communication of your goals and priorities to all those involved in the business is critical to achieving buy-in to your vision of success. As the business’ owner, you establish both the limitations and possibilities of business growth on longevity through multiple generations.