Do you know it's easier to Set up a new Business than maintaining an old one?. Well different people with
different opinion, some would say it is more difficult to maintain a business
than to set up a new one, others will argue that it is more difficult to set up
a new business than maintaining it.
However, it does not take more energy to set a new business
than it will take to maintain an old one. For those who feel that maintaining an
old business is easier, do you know that statistics have shown that 1 in every
10 new businesses closes at the first 5 years and 1 in every 10 that survives
closes at the next 10 years? Sounds scary right, don’t get scared there is
something they missed. And in this post you will know what they didn’t do right
and how you could avoid the same mistake.
Although, setting up a new business seems more difficult for
most people taking into consideration lots of resources needed depending on the
kind of business you have in mind. Let’s say you want to go into online
business (blogging), you will need several resources. Of course you will need a
blog for your internet business. And in setting up a blog you will need:
·
Computer
·
Domain name
·
Web host
And lots of other tools.
Those are the primary tools you need to start an internet
business. Resources vary as business varies different resources for different
business. You don’t expect to use the same resource for and engineering
business and that of a stock exchange firm.
Although it is necessary to have good resources in running
your business, you must know that no matter how sophisticated the tools might be
it is not enough to sustain your business for the long run… Allow me to share with you these six amazing
things you need to sustain your business far beyond the first 10 years.
WELL DEFINED
IDEAS
This is the driving force of any new or old business. Any
business owner who stops looking for new ideas will surely fail. That is you
must keep learning. Whether you are just starting out in business or you
already have your business, if you don’t constantly search for new ideas and
ways to be different from your competitors, and outsmart them, you will
struggle with your business and if not quickly corrected, chances are that you
are likely to fail with that business.
You must always improve yourself in what you know about the
business, what you can do to outsmart your competitors. You must always try to
find out ways in which you can improve your product or services. “Try
to know as much as you can with what you are doing”.
REALISTIC GOALS
“A précised goal is the springboard of any accomplishment”
Your business will not go beyond the first 5 years if you
don’t learn the act of setting goals, and trying as hard as you can to reach
your goals.
When you create a goal, you automatically based it on
yourself image. Same goes with your business. If you want a brighter future for
yourself, discover your goal and work out how much time and energy you are
willing to channel into reaching them. Consider your own experience s. haven’t
they always been directly linked to your objective? Anyone with a vague,
uncertain target or none at all will get result. On the other hand, anyone who
has a specific goal and puts a
specific plan of action into motion always achieves it.
However when you set goals, set realistic goals and do not
underestimate yourself. You are worth
exactly what you think you are worth.
Goals are the
secretes of successful people. The high goals you achieve, the high you become.
“Shot to the sky, if you miss it you will
land among the stars”
Your goal should not
necessarily be about money. It can be to be the best in your field, or have the
best product, etc in certain period of time. That is what goals are all about.
PROPER PLANNING
Immediately after setting your goals, the next thing to do
is draw out plans to achieve your goals. You must know that your goals set you
in motion while your plan takes you out to take action. You may have set a goal
on getting a certain number of customers at a given time, that goal is lovely
but if you do not set out plans on how to achieve that goal, and not only
setting out plan, but you must put those plans in motion before you can achieve
your goal.
Planning is not enough as I state
earlier you must set your plans in motion but planning however not being the
only thing needed to achieve a goal, it sure go a long way in helping you take action. This is most essential for anyone who wants to
succeed and not be among the 1 in 10 that closes after the first 5 years or the
next 10 years.
THE RIGHT EDUCATION
Some will call it information but I choose to call it EDUCATION. Getting information about something
is like reading a page in a 30 pages book when compared to getting the Right Education about that same thing.
The right education matters a lot in setting up a new business and sustaining
you old business.
Try as hard as you can to keep up with new business trends.
Always check other product related to your product and even outside your field.
Get good knowledge about the business you are into, try not to be left out. If
any new opportunity crops up be the first to know about it. Once you find a new
opportunity, set out plans and get something out of this newly found
opportunity. The world is moving faster than you think don’t be at the back
seat, stay with the driver, know as much as you can with what you are doing. “There
are no guarantees, but being ready sure beat being taking unaware” (Donald
Trump).
RELATIONSHIP
Relationship is something we all know if handled well,
either in our homes, schools, work or in our businesses whether old or new can
take us beyond what we can imagine. You must learn to create a good
relationship with clients, employee and even your competitors that way you will
know what they do that works and how they do it. I know some of your
competitors will not be opened but I tell you with a very good relationship,
you can know a lot about them. And for your clients you will be able to know
how to satisfy them and they will also be able to tell you things you do not
know about market, other products and
ways to improve your product to be competitive. Your employees are very
important to you and with a good relationship they will be happy and grateful
working with you. “Treat men greatly and they will be great to you”
DELIGENT
No matter how sound your ideas may be, or how good the goals
you have set for yourself might be even if you have a well develop plan of action and you get the right education you
may have the best relationship with clients, employees and you
competitors, if you are not ready to work
hard, all the effort you have put in
getting the necessary education will be wasted. You must be ready to give your
best I mean your all “do what others didn’t do (extraordinary) so
you can get what others didn’t get (extraordinary results)”.
Note: do not over work yourself so you don’t
break down, “it is easier to be successful when your are healthy” try as
hard as you can to maintain a good working rhythm but always do more than the
ordinary a little above the ordinary would be fair enough
Building a
successful business entails hard work “Rome wasn’t built in a day” you must
maintain a good work ethics to ensure your business stay strong and stand more
than 10yrs and beyond.
Are you
thinking that I did not talk about what you have used to maintain your
business, feel free to let us know your winning formula thanks. Please use the comment box to make your comment or your suggestion i will be very grateful...
To be successful you must know how to control your buying learn more about buying in my previous post 6 things you don't know about buying and financial freedom.
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