Learn From Your Mistakes: There is not a single successful businessman out there who never made mistakes. Maybe there was a market trend they were following and did not see a bend in the road, or it was a failed venture that never took flight. One of the most successful entrepreneurs out there is Richard Branson. If you follow the Virgin brand closely, you will see as many start-ups that worked were also start-ups that nose-dived. But you never hear Mr. Branson cribbing about it. Taking it with a shrug and good humor, he looks ahead to the next potential business opportunity. True, he has the finances to afford a minor slip-up, but it is more about the never-can-die attitude that gets successful businessmen going.
Prioritize: This is a super important “secret” of successful people in the biz. As an entrepreneur you will be inundated with emails, calls, meetings, updates, news and what-have-you. There will be individuals taking your time all the time and you will feel it is your responsibility to answer to every disturbance. This is absolutely false. Your concentration should be on one thing at a time. You’re here because you want to build your venture. Anything else that doesn’t fit into that description has got to go. Start every morning by setting a timetable and figuring out how your day will be spent and then stick to that.
Keep Researching: Another success secret is all about knowing your market. No business has ever prospered by staying stagnant. You need to make sure that you learn from your peers, read magazines, research trends and stay abreast with the latest news. Markets are changing on a daily basis, so start your day by reading the newspaper and coming up with a plan. You will find that as your business starts to take on wings, you will need to customize your vision for what suits your enterprise the best at this moment.
Hire The Best: Bill Gates famously said: “I will always choose a lazy person to do a difficult job…because he will find an easy way to do it!” The best part about owning your own business is that you get to hire whoever you want to work for you. ALL successful business people surround themselves with those they work well with and who have the same wavelength for thinking up ideas and strategies. This is key because firstly, you spend so many hours with them and you want to gel well with your colleagues and secondly, they are the catalysts who will improve on your ideas as well as come up with brain sparks to boost your business. You need allies in business and if you can hire them, you are sorted!
Have Fun: Do not think that just because you are running business means that you need to sit in front of your computer or at meetings all of the time. Thank God the age of the BlackBerry has passed! All successful entrepreneurs make the time to relax because this helps them rejuvenate and come back with brand new eyes. Tycoons like Richard Branson take it a step ahead by working from their place of vacation, but if you are not able to do that, at least plan a holiday over the weekend. A change of scene always helps with refreshing your brain. Encourage your employees to take days off as well as they will come back with renewed energy to help you run your enterprise.
Have any other tips on how to make a business a success? Maybe you have your own victorious story that you would like to share. Comment below!