What does it take to start and succeed in business? That’s a question I get asked a lot. Although there is no one answer that fits all businesses, there are a number of practices followed by successful business owners. Below are some common themes.
• Be true to yourself
• Know the difference between starting business, growing and sustaining a business
• Don’t let your dream of business ownership overshadow reality – it is viable (consider the 3-points above)
• Choose products or services that you can sell for a lot more than it costs you to make or buy them. Always!
• Make realistic estimates of your expenses… then double them
• Be true to your customers and prospects. Don’t promise what you cannot deliver
• Understand the importance of marketing and learn how to do it effectively
• Understand the importance of networking and learn how to do it effectively
• Treat your vendors, manufacturers and service providers with respect and let them know you appreciate them
• Embrace technology across the board
• Don’t expect miracles
• Remind yourself that one is the loneliest number in business
Happy to meet to discuss how the above applies to you and your business.