What is the Secret to Success in Business?
So many people dream of being a business owner, they see in the future, fast cars, no worries and freedom and I can’t blame them, as for many business owners this is the dream and for some it becomes the reality… but for so many it doesn’t, what they find instead is pure hard work, no time for family or fun, financial worries and hardship and this can go on for years…
There is a reason why there are so many motivational quotes out there like;
“10 years from now you will look like an overnight success”
“There is no ELEVATOR to success; you have to take the stairs”
“Success is 10% inspiration and 90% perspiration”
It always seems to come as a shock to new business owners, that they are not reaping millions in their first year, but I really don’t know why, the evidence is out there, 4 out of 5 businesses fail, many business owners are flat dead broke, paying their staff more than themselves, but I guess, you have to have belief in yourself to succeed, so in a way I get it.
So what is the answer to building a successful business from scratch?
After speaking to many successful business owners over the years, there is one common thread… They refused to give in, they “found a way” to every challenge that they and their new company faced, they treated their business like their child… never giving in, after all you only fail when you quit, right? Someone close once said to me, you can only stay in business as long as you can afford to pay for your mistakes, and how true that is…
Think about it, if you can afford to keep going, you can try something else, change something, tweak something, until you find the magic formula then you will reach success, but just imagine how many people have to give up, because they run out of money, or they don’t want to take any more risks, or dig any deeper…
So how can you reduce the amount of time it takes to find success?
Well in brief, cut out mistakes, the problem here is at the beginning, nearly every new business owner I’ve met, thinks they won’t make any… understand this YOU WILL!
But you can do a few things to reduce the amount of mistakes you will make and find success quicker and here are my top 5 tips on Success in Business
- Everything has been done before– don’t try to re-invent the wheel, it may be that just part of what your doing has been done before, so why re-do it, this will take time and money, can you buy in experience, buy in that training/product/software… do your research and if something already exists, my advice would be to focus on building your business, not on the xyz widget you need to do something- buy it in.
- Hire the best you can afford– you are not going to be EXPERT in everything, you will have strengths and weaknesses, hire in to cover your weaknesses and get the best you can afford… weak and unskilled staff will drain your time and enthusiasm and steal time from you, which we already know is a precious ticking time bomb.
- Don’t listen to the naysayers… and these will be EVERYTHWERE! Your family and friends will probably be the worst offender, then your bank manager, accountant, the man down the pub, they will all have an opinion, but if you’re focused and you’re sure about what you are doing, don’t let them sway you, you are on a mission, and you need positive FOCUS. Consider WHO you spend your time with, who you talk to about business issues and protect your positivity and mindset- you need it. remember the quote “At first they will ask you WHY you are doing it, then they will ask you HOW”
- Build your TEAM– have a mentor, have a co-director or at least number 2, have a strong determined team around you, to share the highs and lows, the successes and failures, you need support. Business can be an extremely challenging place, maybe join a mastermind meet up group or a forum or two if you can’t afford colleagues, but for me the power of a team is unprecedented, and this is what allows me the head space to be creative and build my businesses.
- Have a mission, a passion or a desire to change the world- It is only when your mission is bigger than you, that you can move mountains, inspire people that work with you, inspire your audience, help them, share your knowledge and your dream, let others know how you feel, and by doing so, you are sharing WHO you are and what you stand for, emotive powerful and REAL wins every day.
But most importantly of all, is to START, get going, don’t wait till it’s perfect, we all need to start somewhere, just get going, get out there, start talking, do something… you must always be doing something to get you where you need to be.
One thing I always say to my team, when we are in the build phase of a company, Success may be our goal and plan, but the joy is actually in the journey, these are the fun times, the story everyone will be interested in and the times we will tell to our grandchildren, so enjoy them.