R245 - Two Responsibilities
The How of Business - How to start, run, grow and exit a small business.
Henry Lopez, Levante Business Group
4.7 • 522 Ratings
🗓️ 2 June 2025
⏱️ 11 minutes
🧾️ Download transcript
Summary
The two most essential responsibilities every successful small business owner must embrace: making decisions and accepting personal mistakes.
Show Notes Page: https://www.thehowofbusiness.com/r245-two-responsibilities/
While the list of responsibilities is long for any entrepreneur, these two are foundational to the success of a small business owner or entrepreneur.
On this episode of The How of Business podcast, Henry Lopez shares personal insights and experiences to help aspiring and current business owners understand why the courage to decide, and the humility to own up to missteps, are traits that separate doers from dreamers.
From the pressures of leadership to the fear of failure, Henry offers motivation and practical advice to help you stay on track even when your confidence is shaken.
If you're considering business ownership, or already on the journey, this episode will inspire you to step up with confidence and resilience.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run, grow and exit your small business. The How of Business is a top-rated podcast for small business owners and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com
Transcript
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| 0:00.0 | Welcome to the how of business with your host, Henry Lopez, the podcast that helps you start, |
| 0:05.9 | run, and grow your small business. And now, here is your host. |
| 0:11.8 | Welcome to this episode of The How of Business. This is Henry Lopez. Today we're going to focus on the topic of |
| 0:17.0 | responsibilities. Specifically, what I think are the two most critical responsibilities |
| 0:22.1 | that successful business owners must embrace. And those are making decisions and accepting personal |
| 0:28.8 | mistakes. You know, the list of responsibilities for a small business owner is long. It's definitely |
| 0:34.4 | longer than just two. As small business owners we face and must embrace a multitude |
| 0:39.9 | of realities every day. This requires a set of personal characteristics and skills that |
| 0:44.9 | separate those who succeed in business from the rest who merely talk about starting a business |
| 0:50.3 | someday. There are countless books and seemingly endless supply of opinions on this question |
| 0:56.4 | of what does it take to be a successful business owner? I agree with just about all of the content |
| 1:01.2 | I have read on this topic over the years. And if I narrow my list, however, down to the most |
| 1:06.0 | critical responsibilities that successful business owners must embrace, and I use that word purposely, embrace it, you take it on, you want it, it would definitely include making decisions and accepting your personal mistakes that you're going to make along the way. |
| 1:21.6 | In my experience, making decisions and accepting mistakes are critical to successful business ownership and are the two of them are tightly interrelated. |
| 1:31.3 | You can't really have one without the other, I think. |
| 1:34.3 | If you accept responsibility and accountability for decision making and understand that a business owner has to make lots of those big decisions every day, |
| 1:42.3 | then you must also accept that not all of your |
| 1:45.0 | decisions will be correct. You must, however, have the desire and the courage to make those decisions. |
| 1:52.0 | To become a successful small business owner, you also must accept the responsibility of your mistakes. |
| 1:57.0 | Try to learn from your mistakes and keep charging forward. Hopefully, over time, you end up making more good decisions than mistakes. Try to learn from your mistakes and keep charging forward. Hopefully, over time, |
| 2:01.8 | you end up making more good decisions than mistakes. So let's talk a little bit more about what I mean |
| 2:07.5 | by embracing decision making. Ask yourself some of these questions. Do you enjoy being the one person |
... |
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