5 Great Tips For Success In Business
If you ask a dozen people what they think is the key to success it is likely you are going to get a dozen different answers. Are they all wrong? Not at all because everyone is different. Different backgrounds, different personalities and different areas of expertise. The entrepreneur with a financial background will see the huge importance of Knowing Your Numbers while someone with a creative background will see Innovation and Fun as key. However whatever your background or type of business some aspects remain key.
Today I invited Erick Rainey from Rainworks Training and Development to share his 5 Keys To Success In Business. As usual on my blog you can watch the video below or skip just below the video player and read on.
5 Keys To Business Success http://youtube.com/watch?v=Aasuyz9t8m4
What Is Your Desired OutcomeIt may seem strange obvious but you need to know where you are going and yet many businesses do not take the time to define their goal nor set their business compass. Take some time out, consider your business goal and give yourself and your company a clear direction. Knowing where you are going is important and do not keep it to yourself. Share that outcome with your staff, if they do not understand where the business is going they will hardly be able to help you get it there.
Take ActionIt is all very well having a direction for your business but if you do not take action you are going nowhere. Just continuing to do more of the same old do not be surprised when you get the same old results, or lack of results. Lots of people have massive amounts of procrastination and they will find all kinds of excuses why they are not ready to take the next step in business. It is important that you understand when you are ready and then take that next step, holding back will scupper your chance of being successful.
Have sensory awareness
This is really all about the power of words; knowing what your internal dialogue is doing. Marshalling that internal dialogue is critical so that it has positive effect and not a negative one. Also be aware of how you come across to other people, this is so important.
If you have been doing business for a little while make sure you can change those business habits. Just because something has always been done that way does not mean it is the right way to do it today. Look around and look how other successful businesses or individuals are operating and learn to model what they are doing and apply that model to your business. Studying the way successful businesses work is a superb strategy because their triumphs and failures provide you with an incredible shortcut to where you want to be without wasting a lot of time and money.
Get A Mentor
You do not have to do it all alone, get yourself a mentor. All successful achievers, all successful people in business have a mentor or coach. According to Mike Southon, a highly successful entrepreneur and recent contributor to this blog, there should not be a fee for mentoring. Choose someone you respect and can get on with, someone who is interested in your enterprise and you but can tell you exactly how it is. When a fee enters the equation how honest and useful will the advice be.
Mentors should be a great source of knowledge and experience. They have been there, done it and got the T-shirt and will help you through the inevitable lows. More importantly, because mentors tend to be further along the entrepreneurial road they will also be a fantastic source of contacts and potential customers.
It’s About The Profit
Know your numbers and keep your eye firmly fixed on your profit figure. Turning over lots of cash ultimately does nothing for your business. It is a simple rule that more money has to come in than goes out but surprisingly too many business miss this point. Unless your profits can justify it keep your spending under a tight grip. You need the money, firstly to pay yourself and secondly to reinvest so your business can move forward and continue to be a healthy enterprise.
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