WHEN IT COMES TO THE POWER OF A SUCCESSFUL BUSINESS, most people think "it's a nice thing to do", or "I just want to try it out"... especially people with surplus money in their hands.
And you probably already know that in order to succeed in the business world today, you're going to need a lot more than just commitment. You'll also need to be highly flexible, have a good strategy in place, and exceptional organisational skill. Being multi-talented also help a lot of course, but only for starters and small businesses, if you're looking to grow, you'll have to leave some tasks aside for someone else to handle - like paperwork, inventory, and other mundane work.
But like I said, you probably already know that they're the fundamentals of running a business.
Now, what if I told you, there are other individual powers that, when combined, can significantly contribute to the success of your business. Yes, I call these 'powers' as they are, more or less, a part of human personality and developmental traits which you can achieve over time, or read on to learn right away.
Here goes -
- The Power of Trust – I believe that financial success in any business is the by-product of a successful business, and a successful business is the by-product of outstanding relationships. Ultimately you want a business where everyone around you is someone you have a great relationship with, and trust is the mother of all those outstanding relationships. Any type of a successful business requires trust, be it between buyer and seller, or between a seller and another seller. Although, for a buyer to seller, the trust is on the 'brand', or 'goods', whereas, for seller to seller, the trust is based on the 'relationship'.
- The Power of Belief - This takes me back to my first point, don't just build a business simply because it's "something to do", or something to "try out". Actually, believe in your product. If you believe in your product strongly, 3 in 5 people are bound to listen more intently to you. The other 2 may come around later. Here's an easy way to do that, when you're building a business, it obviously is for a reason - to feed your children, to secure your family’s future, or maybe just to travel the world... but whatever it is, hold it close and let that fuel you. Build your brand as if you’ll own it forever.
- The Power of Competition - I have seen a lot of people get put off by competition, especially when it's unfair to you. For example, you have a radical idea and it took off almost immediately, your local Facebook or Social Media page starts getting people to talk. You're on a roll! But as we all have seen time and again, within seconds, copy-cats have arrived (especially in India). Doesn't feel so good when these are bigger brands with chains of stores across the globe. In most cases, these people cave in and sell their product over to these big brands, only in very few cases do businessmen not do so, and still thrive by being continuously innovative. My only advice is, think of your competitors, as your teachers.
- The Power of Compromise - For anyone who's starting a business, you most probably already have a goal set in your mind, even if it's not on paper - your vision, your purpose, your core values - don't ever compromise on them. These are the big things, these are your reasons for even daring to take a step towards a better financial future. Yet, at the same time, compromise on everything else - and by that, I mean be flexible enough to bend to the market, learn to adapt to the customer’s needs and woes, stay up-to-date with your line of entrepreneurship, be involved with the technological aspects of it - that's all. Don't compromise on the big things, compromise on everything else.
- The Power of Family - We are not robots, hell, even if we are, we'd still require time to recharge ourselves on a regular basis. Imagine operating a wildly successful business by working at a feverish pitch for 21 hours each day, for 5 years straight! This kills your personality, and all other relationships you have, particularly family relationships. It also affects your personal well-being and your health - both mental, emotional, and physical. At some point, it can even reach some levels of insanity - the only situation that comes after that is the ultimate downfall. Don’t go there. Yes, it's a rat race out there, but run like it's a marathon, not a 100m dash. The trick is to stay alive until you can figure out your secret formula for success.
To sum it up here's a graphical representation of the above points -
These are just a few basic topics I'm covering on this blog. Some of you may already have known them, which is great! You're already on the right path. Some other topics I've covered more extensively in my Business Empowerment program include -
- The Power of an Exceptional Business Plan
- The Power of Your Why
- The Power of Purpose
- The Power of a Great Mission
- The Power of a Great Team
- The Power of Effective Leadership
- The Power of Cashflow
- The Power of Financial Intelligence
- The Power of Clear Communication
- The Power of Legal
- The Power of Effective Systems
- The Power of a Great Product
- The Power of Excellent Customer Service
- The Power of Generosity
- The Ultimate Power of Continual Action
- ...and more!
If you're interested in my video sessions, sign up here and check out the first video preview for free.