I have compiled a list of “success snippets” from various sources and on occasion my own experiences and advice I received.
I believe that these are essential to becoming a successful business owner and entrepreneur. Some are related to each other — to be sure — but each has something significant to impart.
- Take that first step; take action
- Learn to take the “No”s with the “Yes”s
- Stay true to your mission (statement)
- Ask for what you want
- Find a way to differentiate what you do or your products
- Treat others with respect, always
- Trust your instincts
- Sell yourself first, no one will buy from you if they don’t like you (period)
- Start small — Dream big
- Ensure your business model is scalable
- Choose your company name wisely
- The single most important business activity is - Networking
- You must believe in (and use if applicable) what you are selling/offering
- Know your customers
- Listen to your customers — give them what they want
- Word-of-Mouth is still the best advertising method
- Reinvest most of your earnings into the business
- Don’t try to do it all by yourself; Find and hire experts
- Get a mentor
- Understand and apply the basic principles of money management
- Be Persistent
- Study other successful people
- Invest in yourself - get more skills, education, and knowledge
- Learn something new everyday
- Know the difference between risk, and calculated risk (i.e. research beats luck)
- There are riches in niches - find an unfulfilled desire or a problem in that niche and solve it
- Focus on your core offerings - don’t spread yourself too thin
- Communicate thoroughly, clearly, and frequently with team members, employees, and customers
- Choose your partners wisely
- It’s not just about the work - Play, Have Fun
- Surround yourself with the best people
- Never underestimate the power of a good idea
- The only way to conduct business - is ethically
- You are your brand!
- Always aim for the win-win
- Do what you love
- Don’t second guess those tough decisions
- Do what you say you are going to do
- The trend is your friend
- Study other businesses and learn how they make money
- Identify spin-off opportunities
- Don’t let your expenses outrun your income
- Adapt or die
- Identify mistakes early and change course
- You have 2 ears and 1 mouth, so - Listen twice as much as you speak
- Establish rapport upfront
- Seek continuous incremental improvement (kaizen)
- Be willing to make mistakes; be willing to fail
- Always have a backup plan
- Follow-up is the key to great customer relations
- The world is Flat
- When speaking: make eye contact; use their name; smile
- Quash instant-gratification: don’t let short-term rewards distract you from your long-term goals
- Pay attention to the details
- Sell more by removing people’s obstacles
- If something works, do more of it (and vice versa)
- It’s cheaper to keep a current customer than acquire a new one
- Under-promise and Over-deliver
- Give something back
- Believe in yourself!
BONUS:
Read The 4-Hour Work Week