The Key Elements of Building a Successful Business

If you are like most new entrepreneurs, you will most certainly make many mistakes in the process of building a successful business. You are human…and you will falter. Be ready to humble yourself, accept that you will fumble and fall, learn from your failures, pick yourself up, brush the dirt off your back, and continue to look in the only direction that will bring you success…Forward.

“Failure is the tuition you pay for success” ~ Walter Brunell

In the last 4 years I have surrounded myself with many successful small business owners. I have taken notes, asked questions, investigated their tactics, picked their brain, silently watched and have done everything humanly possible to follow in their footsteps. In the process I have discovered the key ingredients of creating a business that can, and will survive in any economy…online or offline.

Putting People First

Putting your needs aside and putting people first is the foundation of any successful business. Building concrete relationships with your customers will create trust. Once your customer trusts you, they will refer you to others, buy your products and continue using your services. Without trust and customer loyalty..businesses don’t have a fighting chance.

In the Internet Marketing arena, thanking people may be as simple as retweeting an article, commenting on a comrades blog, or sharing their post on Facebook.

Zig Ziglar said it best when he said:

“You will get all you want in life, if you help enough other people get what they want.”

Market Yourself, Not Your Business

Spamming and slamming everyone you encounter with a sales pitch about your new product or business is not only unattractive…it’s completely ineffective. People can smell the desperation all over you. Cold calling strangers, neighbors or old friends, and pitching your network marketing business opportunity to them in the first few sentences of a conversation, is not only self serving…it’s downright annoying. You may not realize this…not only are you wasting your time, you are also wasting their valuable time too.

The great leaders of the most successful businesses today didn’t get where they are by jamming the phone lines and filling people’s inboxes with useless and self serving sales pitches.

Remember what we all learned from our parents as a small child?

“You only get one chance to make a first impression” ~ Mom and Dad.

Learn the simple principles of Attraction Marketing. Not only will you see positive results in your business, but you will begin to see a difference in yourself as well.

Do Business With A Conscience

Your reputation as a person will become the fuel and driving force behind your business’s success. Be honest and forthright. If you lose the trust of one associate or customer, it can only take a few minutes, a few phone calls, or a few quick conversations…to lose them all.

One of my community’s most prominent and successful business owners has this sign in all of his stores.

“It can take weeks and months to gain a customer…but only seconds to lose them”

Self Education

Self education is inarguably one of the most effective tools in creating a successful business. Becoming a business owner puts you in the driver’s seat. You no longer have anyone leading the way. It’s up to you to seek out all of the quality information you can get your hands on to implement your business plan. Invest in yourself. It will prove to be the best investment you will ever make.

“Formal education will make you a living, self-education will make you a fortune” ~ Jim Rohn

In A Nutshell

The holy grail of running a successful business doesn’t lie in the product you are Marketing or the service you offer. Implementing these key elements and tweaking them as you go along, is what most successful business owners focus on.

Surround yourself with leaders, listen to leaders…and learn from leaders.

And at the end of the day, after you’ve learned how to implement these basic business building principles, chances are…

You will be able to sell pet rocks to the President…or ice to an Eskimo.

Keys to a Successful Business

Running a successful business is no easy task. There are many things that a business owner can do in order to make, and keep, their business successful. On the other hand, there are exponentially more things that a business owner can do wrong which can hurt their chances at becoming a powerful and profitable force. If you are interested in some ways to make your new or growing business a success, here are some things to consider.

First and foremost, you must have a vision. Get a clear idea of what you want your business to be like. What products and services do you want to offer? What type of customers are your trying to gain? How do you want to be known in the industry? Once you answer questions like this you can gain insight into what direction you should take your business. Laying out a path before you start your journey is imperative to being successful. This includes writing out a business plan and noting your goals and desires.

Next, you must know your market. It is a wrong assumption to think that anyone and everyone is in your market. As an old saying goes “if everyone is in your market, no one is in your market”. Unfortunately, your business cannot be everything to everybody. Focus on a group, type, or specific niche that you’d like your business to benefit. The best way to do this is with market research. Doing qualitative and quantitative market research will do worlds of wonder when it comes to finding and understanding your market. Whether you just starting your business or you are wondering if it’s time to release, or retire, a product, market research will help steer you in the right direction to help ensure success.

Once you find out who your market is, it’s time to take a very focused marketing approach. Research the best ways to market to the people you’d like to reach and begin your marketing campaign. Some methods will work better than others, and some may not product instant results but will instead gain confidence and build reputation with potential clients. Don’t expect to do someone once than give up if it doesn’t produce immediate spectacular results.

Finally, you must be consistent. This is your business and you must be in it for the long haul. Don’t give up on working hard once you see a bit of success. Building and maintaining a profitable business requires constant attention and work. You will be required to keep up with changing times and adapt to new economic situations, etc. If you are able to follow the right path and keep going even when times get tough, you will be a happy and successful business owner.

5 Ways Top Home Business Entrepreneurs Fight Procrastination

You ever go to bed at night exhausted from trying to figure out what the deal is with Lost? You were so bent on understanding this island of confusion that you started watching DVD’s of the first season to hopefully shed some light on this nonsensical cluster of darkness. Now, all this would be OK except that you were supposed to be working on your home business. It was, however, no fault of your own that the phone rang and the subject of Lost emerged innocently in the conversation. It was then completely logical to assume that you deserved a break and one episode wouldn’t hurt. Five hours later, it really made sense to get some rest and commit deeply to “making it all happen” tomorrow. Sound familiar? How much actually “happens” tomorrow? Usually not very much.

To be successful in home business today requires action. Though some people were just born with massive action, like the kids that started their own businesses at 9 and were millionaires before they graduated high school, most of us need to develop the skills for high productivity. Here are 5 things you can do right now to make yourself more productive and help guarantee success in your chosen home business today.

1. Be crystal clear about what you want- This may sound obvious but one of the primary reasons for procrastination is lack of clarity. If we aren’t sure about what we are doing or what we need to do next, we tend to do nothing. Write down your goals!

2. Start each day with a plan – now that you’ve got some goals, you should be able to sketch out a plan of how to achieve them. Back into it like this; Start with your primary goal and then figure out which tasks you’ll need to complete over the year (or the expected duration) to reach it. Then break down tasks over the next few months… you can change this as you go but its important to have a starting point. Now list the tasks for the next week. Now from what you have planned for the week, select the tasks for tomorrow. Simple… now follow your map.

3. Use the 80/20 rule – We all know that 20% of our actions typically counts for 80% of our results. Look at your activities and decide what the top 20% of them are and then commit to doing them before all else. NEVER do lower priority tasks before the more important ones.

4. What will happen if? – Think about every task you do before you do it and ask your self that question. “What will happen if I do this today? What will happen if I don’t?” Now compare it to the goal in your head. For instance, if the answer is that you will be less confused about Lost but tomorrow you’ll have twice as much work to do, you may want to go another route. Again, the key here is to be clear what you have to do and WHY you are doing it.

5. Do what Brian Tracy calls the ABC method – Simply put, this method allows you to prioritize your tasks to ensure that you take care of the most important tasks first. Look at your list of tasks and mark an “A” next to the tasks that, if not done, will have serious consequences. If you have a few, mark them “A-1, A-2, A-3” etc. “B” tasks are important but there is significantly less of a consequence if it’s not completed; returning some email and phone calls might be “B” tasks. As a general rule, don’t do a “B” task if an “A” task is left undone. “C” tasks are things that you’d like to do, but there really is no consequence at all if don’t; like if you missed lunch with a co-worker or another exciting discussion of Lost with your friend. “D” task are tasks you can delegate and should delegate if the option is open to you. “E” tasks don’t need to be done at all. Usually they are either no longer necessary or just something you’re in the habit of doing. Let them go.

Running a home business successfully requires a lot of self discipline and action… hopefully one or more of these tips will help you with your journey to success. I wish you prompt and timely success!

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