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The difference between success and failure in business?

As a business advisor, I often get the question: what makes the difference between success and failure in business?

As a business advisor, I often get the question: what makes the difference between success and failure in business? In my experience working with all kinds of businesses around the globe, I find that it often comes down to the business owner’s attitude. Over the years I have seen that the most successful people have the following in common:

1. They're resilient All successful business owners I've met have an extraordinary resilience, they simply won't give up. When most people would abandon after 10 closed doors, resilient people keep pushing. If door 99 closes, door 100 might be the breakthrough. It is this kind of resilience, of almost naïve belief in their business offer that eventually brings results.

2. They admit when they're wrong The ability to accept being wrong, to take responsibility and ownership for our mistakes is an attribute that makes a huge difference in the business world. It allows us to adapt and reconvene. It opens the door to deeper changes, whether it is a change of attitude, a different way to deal with employees or clients, a review of the product offer or a total change of strategy.

3. They master listening Successful people have an unusual capacity to listen – listen to their clients, to their employees, their mentors and advisors. They transform every human encounter into an opportunity to learn. They surround themselves with smart, talented team members and take their suggestions on board. Someone said that if you hire smart people to agree with everything you say, you’re wasting your money, you could pay anyone minimum wage to do just that. Successful business owners see the value in others. they recognize that they do not know everything and that when working together, the output is greater than the sum of the individual inputs.

In the current challenging times, it becomes even more important to practice resilience, accept when we’re wrong and embrace the idea that others can help. It might make the difference between business survival and having to admit defeat, between seizing opportunities and counting our losses.

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