Regardless of your definition of success, there are a great number of common characteristics that are shared by successful business people. There are certain musts that have to be fully developed, implemented and managed for your business to succeed.
What you get out of your business in the form of personal satisfaction, financial gain, stability and enjoyment will be the sum of what you put into your business. If you don’t enjoy what you’re doing, chances are you won’t succeed.
Take what you do seriously
You cannot expect to be effective and successful in business unless you truly believe in your business and in the goods and services that you sell. Far too many business owners fail to take their own businesses seriously enough, getting easily sidetracked and not staying motivated and keeping their noses to the grindstone.
Planning every aspect of your business is not only a must, but also builds habits that every business owner should develop, implement, and maintain. The act of business planning is so important because it requires you to analyze each business situation, research and compile data, and make conclusions based mainly on the facts as revealed through the research.
Manage money wisely
The lifeblood of any business enterprise is cash flow. You need it to buy inventory, pay for services, promote and market your business, repair and replace tools and equipment, and pay yourself so that you can continue to work. Therefore, all business owners must become wise money managers to ensure that the cash keeps flowing and the bills get paid.
Be customer focused
Your business is all about your customers, or clients, period. After all, your customers are the people that will ultimately decide if your business goes boom or bust. Everything you do in business must be customer focused. One of the biggest features and often the most significant competitive edge a small entrepreneur has over the larger competitors is that he can offer personalized attention.
Project a positive image
You have but a passing moment to make a positive and memorable impression on people with whom you intend to do business. Business owners must go out of their way and make a conscious effort to always project the most professional business image possible.
A business must have a clearly defined unique selling proposition. This is nothing more than a fancy way of asking the vital question, “Why will people choose to do business with you or purchase your product or service instead of doing business with a competitor and buying his product or service?” In other words, what one aspect or combination of aspects is going to separate your business from your competition? Will it be better service, a longer warranty, better selection, longer business hours, more flexible payment options, lowest price, personalized service, better customer service, better return and exchange policies or a combination of several of these?
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