3 Simple Ideas That Made Me a Successful Business Owner

Last Updated: 

July 17, 2025

Why do some entrepreneurs seem to succeed effortlessly while others struggle? After years of building my business, I’ve realised that success isn’t just about luck or hard work—it comes down to a few key principles that make all the difference. Here are three simple but powerful ideas that have helped me create a profitable, scalable business, and how you can apply them to your own journey.

Key Takeaways on Becoming a Successful Business Owner

  1. Embrace Action Over Inactivity: True entrepreneurial success stems not just from ideas, but from consistent, impactful action. The key differentiator is often the volume and quality of real-world activities, like consultations and outreach, rather than passive online branding.
  2. Cultivate a Survivor's Mindset: To build a long-lasting business, adopt a 'survivorship bias' mentality. This involves committing fully with no 'plan B,' securing a financial cushion for at least six months, and focusing on long-term sustainability over short-term wins.
  3. Leverage an Action Bias: Avoid analysis paralysis by taking immediate steps. Engage in market research by talking to potential clients, start selling your product or service before it's perfect, and use early feedback to iterate and improve your offering.
  4. Focus on High-Impact (Kairos) Time: Prioritize the quality of your activities over the quantity. Identify the 20% of tasks that yield 80% of your results, such as strategic partnerships or high-value lead generation, and eliminate low-impact work to maximise your effectiveness.
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The Importance Of Action

In my early coaching days, I had a conversation with a fellow coach who was struggling. She told me she thought I was a better coach than she was, yet I was more successful. When I asked about her activity levels, she mentioned she had only done four or five consultations in the past year. Meanwhile, I had completed 125 consultations, 44 podcast interviews, and held numerous speaking engagements. The difference? Action.

Many entrepreneurs hide behind screens, focusing on social media and branding, but they forget to take real, impactful actions. It’s not just about being busy; it’s about being effective.

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Survivorship Bias

One of the first concepts I want to share is survivorship bias. Did you know that only 5% of businesses make it to the 10-year mark? I’ve run two businesses that are nearly a decade old. The key to my success? I had no plan B. When I started coaching, I committed to making it work, no matter what challenges came my way.

This mindset is crucial. If you’re constantly worried about short-term wins and losses, you’ll never build a sustainable business. Instead, focus on the long game. Here’s how:

  1. No Plan B: Commit fully to your business.
  2. Financial Security: Build a rainy day fund to cover at least six months of expenses.
  3. Long-Term Thinking: Focus on staying in business as long as possible.

Action Bias

Next up is action bias. Many people spend too much time planning and not enough time doing. They get stuck in a cycle of procrastination, fearing what others might think or worrying about failure. But here’s the thing: if you don’t take action, you’ll never know if your idea will work.

Instead of waiting for the perfect moment, start small. Here’s a simple approach:

  • Market Research: Talk to potential clients about your ideas.
  • Sell Early: Don’t wait until everything is perfect; start selling your product or service.
  • Iterate: Use feedback to improve your offering.

Kairos Bias

Finally, let’s discuss Kairos Bias. This concept comes from Greek philosophy, contrasting two types of time: Kronos, which is about filling your time with activities, and Kairos, which focuses on the quality of those activities.

In business, it’s easy to get caught up in doing a million things. But what if you focused on just a few high-impact activities? Here’s how:

  1. Identify High-Impact Activities: Find the 20% of tasks that yield 80% of your results.
  2. Eliminate Low-Impact Tasks: Cut out activities that don’t contribute significantly to your goals.
  3. Focus on Partnerships: Build relationships that can lead to significant opportunities, like podcast interviews that can generate leads.

For example, one podcast interview I did led to 3,000 leads and £250,000 in new business. That’s the power of focusing on the right activities.

Conclusion

To sum it up, if you want to be a successful entrepreneur, remember these three ideas: survivorship bias, action bias, and kairos bias. Stay committed, take action, and focus on high-impact activities. If you do this consistently over time, you’ll find success.

If you have an idea that’s been holding you back, don’t hesitate to reach out. My goal is to help you overcome those fears and achieve your entrepreneurial dreams. Let’s chat and see how we can unlock your potential!

FAQs for 3 Simple Ideas That Made Me a Successful Business Owner

What is survivorship bias in a business context?

Survivorship bias in business is the tendency to focus on successful entrepreneurs or companies while overlooking the vast number that have failed. The article suggests countering this by adopting a long-term mindset, committing fully to your business without a 'plan B,' and building a financial safety net to ensure your business can endure challenges and outlast competitors.

How can I apply the 'action bias' principle to my startup?

To apply the action bias, you should prioritise doing over excessive planning. Instead of waiting for a perfect product, start by talking to potential customers about your ideas, selling a minimum viable product early on, and using the feedback you gather to continuously iterate and improve your offering.

What is the difference between Kronos and Kairos time for an entrepreneur?

In a business context, Kronos refers to chronological time, the hours you spend being busy and completing tasks. Kairos, on the other hand, refers to opportune, high-quality time. The article advises focusing on Kairos by identifying and prioritising the 20% of activities (like strategic partnerships or key marketing efforts) that generate 80% of your results, rather than simply filling your schedule.

Why is taking massive action more important than just having a good idea?

A good idea is only a starting point; success is determined by execution. The author highlights that their success came from taking significant action—like conducting 125 consultations and 44 podcast interviews in a year, while others with similar skills struggled due to inaction. Consistent, impactful action is what turns an idea into a profitable business.

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