How to Be a Successful Business Person

How do successful entrepreneurs develop? Are they born, or made? That’s a question we’re unlikely to find a single answer for. There are arguments on both sides. Some people point to successes like Rockefeller, or Bill Gates, or Steve Jobs, as proof that entrepreneurs are born with a special combination of traits like ambition, independence, and keen business acumen. They are just somehow different than the rest of us and it is obvious from the outset.

The other take on entrepreneurship is that it isn’t always obvious from the beginning. Sure, there are the Bill Gateses of the world, but alongside these entrepreneurial giants there are also many successful business people who had other careers in the corporate world at one time.

All people who are entrepreneurs, regardless of how they started out, share certain qualities. These qualities seem to be required for someone to have success in this field.

A strong sense of independence is the first requirement. Many entrepreneurs leave jobs at which they are already successful, or set aside promising careers, to start their own businesses. Because they have a fierce sense of independence, and want to control their own workday, they find the risk worth it. Without this drive, an entrepreneur won’t be successful.

The ability to maintain focus is also crucial. To start a new business, it is important to be able to focus on the goal of turning your business into a success. There are many little tasks involved that you have to keep track of. Everything from finances to inventory to marketing and employee issues fall to the person in charge – you.

Being focused on the goal means keeping your business and its success at the forefront of your concerns. If you don’t do this, you end up with your attentions wandering and your profits falling off. It requires sustained, disciplined, focused effort to succeed in business. This is something that is required for any entrepreneur.

A strong drive to succeed is key. You have to be very motivated about your business. If you are not, you can end up astray and lose your heart. If you do this it is all too easy to decide that it just isn’t worth it.

It’s hard to run a startup. In the early stages, it can be very difficult to find clients and to generate business. Plus, then there’s the added burden of having to focus on all of the many tasks involved in the practical running of things.

There are other qualities that are of course helpful in an entrepreneur. Creativity, for instance, is quite useful, as is business acumen. Even luck is helpful. But the three I have outlined above are what really make the difference between a successful entrepreneur and one that fails.

Successful Business Career Building Flows from Building a Successful Business

Successful business career building goes hand in hand with successful business building. Research and analysis demonstrate that four key elements underpin highly successful businesses. Top performing business people know how critical it is for them to pay careful attention to these four fundamental elements from inception through the lifetime of their business.

Regardless of whether the business is a multi-national corporation or a sole proprietorship, these four key elements must be present and properly formulated to ensure their business success. Just as when building a house, whether it is a luxury home or a small cottage, we pay careful attention to the picture in our mind’s eye of the end result that we want, so it is with creating a business. The key undamentals apply.

The four key elements that underpin highly successful businesses and business careers are:

Element One – Clearly Articulated Mission, Vision & Values

Successful businesses have well thought through and clearly articulated Mission, Vision and Values statements. These statements are the visible expression of the “heart and soul” of the business. They point to the business’s aspirations in all of its activities and the way its people are expected to conduct their affairs in relation to each other and to customers. This vital element aligns strategy with leadership and customers.

The words in these statements are not mere platitudes that hang on an office wall for decorative purposes. Successful businesses use these shared understandings to capture the purpose, direction and expectations of how their business is to be conducted. When implemented correctly, they create value-based, dynamic, customer-focused cultures that deliver excellence across the board.

People in high performing, successful companies live their Mission, Vision and Values and drive them into the very fabric of everything that their organization says and does.

Element Two – Strategy Formulation & Business Planning

Strategy formulation is the framework of choices that successful businesses implement to achieve their Mission and Vision. Strategic thinking ensures leaders understand the nature of the business that they are in and precisely where they are headed.

Once they have decided the critical issues that need to be addressed through this process, they create the Strategic Business Plan. This plan ensures that the business is built and operates in the manner that was envisaged and intended.

Element Three – Leadership Development

Successful businesses develop their leaders in a particular way. They ensure that their personal business career building and development is aligned to the Mission, Vision and Values of the organization, that it is part of the strategic agenda and that it focuses on customer need.

As a result of this type of leadership development, leaders in successful businesses are highly self-aware. They are conscious of the impact that they are having on others, and they get results. Such leaders continually build the business and the people around them for the future.

Element Four – Common Tools for Problem Resolution & Decision-Making

Successful businesses adopt common and systematic thinking processes and tools that can be used across the three streams of thinking in organizational life, namely strategy, operations and continuous improvement.

Having a common set of thinking tools that are used by everyone in an organization builds speed in the flow of information and ensures that problems, issues of concern and decisions are visible, rational, collaborative, traceable and conscious. Because they have these tool sets and processes in place, successful businesses think quickly, adapt and innovate.

So, in summary, all successful business career building begins with building a successful business. The four fundamental elements that must be in place for a successful business are:

– Mission, Vision and Values – a shared view of the purpose of the business.

– Strategy Formulation – understanding the nature and direction of the business.

– Leadership Development – building for the future of the business.

– Problem Resolution and Decision-Making Capabilities – building effectiveness and speed into the thinking and decision-making of the business.

Successful Business – Why Some Businesses Succeed And Why Others Don’t

Do you know there is only one ingredient that separates
successful businesses from unsuccessful ones? That
single ingredient is simply none other than how the
business owner(s) think.

The reason why some people succeed in business and
others don’t is that most business owners are negative
thinkers, and they don’t even realize it. They start a
business, but lack confidence in their own ability to
succeed in their business.

A lot of unsuccessful business owners have the
entrepreneurial spirit, but they lack focus – often jumping
from one business opportunity to the next. Most of them
have never taken the time to set clear-cut goals for their
business. They tend to be more concerned about how
much money they are going to make, rather than on what
potential customers want.

On the other hand, if you observe successful business
owners, you will notice how well their minds are focused
on success. They are positive, optimistic thinkers. They
do not jump from one business opportunity to another.

When they first start out, they do not scatter their energy
by starting and running several businesses all at once, but
instead will take the time to nurture and build one
business or product line upward (horizontally). They have
a success-consciousness, and are horizontal business
builders, instead of vertical business builders. They know
that it takes time and hard work to build a successful
business.

Unsuccessful business owners tend to be impatient, and
expect to get rich overnight. They are unrealistic in their
goals, and want instant results. They often blame others
when profits are slow in coming, and will give up when the
going gets tough.

But, successful business people are fearless in their drive
to succeed. They will take immediate, massive, repeated
action to achieve their goals. They will never give up until
they make their dreams a reality.

They are more concerned about customer satisfaction,
inspiring trust in prospective customers, and building long-
term relationships with their customer base… the factors
that create success. They place more emphasis on
selling good products and services, than on making
money. They know and understand that the ultimate
reward of customer satisfaction is financial (monetary)
success.

Some successful business people are well educated and
some are not, as far as a formal education is concerned.
What sets them apart from unsuccessful business owners
is that their mind stays focused on success, regardless of
the obstacles in front of them.

If you are to achieve success in business, it is important
that you maintain a success consciousness. You must
keep your mind focused on the road to success, not the
obstacles you encounter on the road to success.

When you know your purpose for being in business, you
cannot be led astray by circumstances, words, or other
business opportunities that have nothing to do with your
goals. You must train your mind to focus on the end
result – the goals-you want to accomplish, not your
obstacles.

If you do, you will be able to achieve practically any goal
you choose for your business.

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