Everyone, when they are first starting out with a business idea, wants to know what they can do to be successful. You can read a hundred different articles and while the explanations may vary in wording, the bottom line ideas remain the same. These are:
• Do what you enjoy – It doesn’t get much simpler. If you know and love biking, think about opening a bike store or starting a biking charity. There’s no point in trying to start a business doing something you have no experience with, because unless you have the capital to hire all the pertinent people with experience to run the entire business for you, it’s most likely not going to work.
• Have a business plan – It can’t be stressed enough. You need a business strategy to help you create a visible map of where you are, where you want to go and how you are going to get there, addressing all the minute details that will pop up along the way.
• Be prepared to put yourself out there for the world to see – What does that mean? You need to be visible. You are your business and the more you put yourself out there, the further of a reach you will have.
• Prepare for mistakes, be ready to keep pushing forward – What this means is there are risks to any business and especially in the forging of a new business. Mistakes will happen. Bad days, bad years – they are going to happen. You need to be ready to work through the bad moments to regain your footing and push through to the good.
• Customer relationships mean everything – Customers are your key to success. Everything you do should revolve around the end result of customer satisfaction while still being able to pay your overhead and make a profit.
• Know your business – Know your brand. Sell what you know and avoid getting lost in trying to have your finger in ten different pies. People would rather find one good product then ten mediocre products. And, if your product is inferior, your competitors will pick up on that fact quickly ad advertise it to all of your potential customers.
• Don’t get stuck in the owner’s seat – If you don’t know what the means, it means don’t forget who is the real driving force behind the success of your company, your employees. It’s imperative that you make your employees feel as if they are integral part of your business, because they are. Don’t allow yourself to become so lofty that you can’t find the time to come down out of the office and mingle with your workers.
• Recognize your limitations – If you want to own a business but realize you don’t have the managerial skill set needed to make it a success, you can always hire someone to be the company CEO and manage the running of the business for you.
• Know when to cut your losses – This can mean that when you do business with a particular person or company and it just isn’t working out, you should know when to walk away. But, remember this, when walking away from a business try to ensure that you remain civil in your relationships with those you are parting ways with.
For more information on how to run a successful business check out my Boot Your Boss & Start a Booming Business guide.