10 rules to build a Succesfull Business
1. Build something you believe in because that’s
the first step to building a great brand.
When you’re all alone, sitting in a dark room wondering why your business is failing, there is only one true thing to power you forward you believe in your purpose.
2. “Don’t aim for 10 improvements at ones
Yes in today’s society you dont have to rush for success just like that you have to take steps and dont expect all the 10 improvemet to be a success at ones But, if you look around, we also live in
the land of ‘me-too’ businesses. Don’t fall for it. Dig
deep and decide right now to build something
radically different and radically better.
3. “Prepare to be copied. Don’t start unless you’ll
survive imitation.
If your idea is truly radical and takes off, you can
count the minutes before the copy cats arrive. How
will you survive competition from the most succesful on the block? Or even from the upstart little guys Your key is a system of ‘continuous innovation’. Although you could also take the road of Honest Tea make friends with one of the most succesful person and let them buy you out.
4. “Build up reserves of money and energy for bad
luck and mistakes.
Great advice but sometimes extremely difficult to
do. What startup or growth business has reserves of
cash sitting around? But make a good point run as lean as you possibly can and do not waste money or energy. You will endure
mistakes and bad luck along the way, so having a good war chest full of capital and energy can help handle it.
5. “Never, ever give up control -- until you sell.”
Some high-impact entrepreneurs will readily give up
control in exchange for the lure of high-growth
through venture capital dont be one of them.
Relinquish control and you risk losing the culture
and vision of the business you set out to build.
Raise investment capital from the beginning.
6. “Don’t compromise on the big things --
compromise on everything else.
Vision. Purpose. Core values. Write these things in
stone and never budge. But flexibility in the value
propositions, products and services you build to
execute your purpose is vastly important. Many
entrepreneurs I see fail to ‘bend to the market’ by
adapting to what their customer’s are telling them.
7. “Figure out how to achieve your goals on a tiny
budget -- then cut that number in half.
Yes you’ve heard it said before it will cost twice
as much, and take twice as long as you think. My
recommendation is you apply the principles of lean
to your business from day one. No fancy offices. No
fancy full color brochures. Your goal is to stay alive
until you can nail your secret formula for success.
Blowing the budget will insure nothing but a quick
death.
8. “It’s a marathon, not a sprint.”
Is it ever. Building a business is neither for the faint
of heart or the speed a momkey climbes a tree. Its not done in 3 easy steps: 1.) decide you want to do it, 2.) fly to Nepal with zero preparation, 3.) sprint straight up the tree in 12 easy minutes. Build
9. “Take care of your family, personal and
spiritual health if you aren’t laughing or
smiling on a regular basis, recalibrate.”
Imagine the path to a wildly successful business:
each day, for at least 5 years straight. two reasons to make it through the rough years: first believed in your purpose,
second your drive for personal balance. The notion
we need to kill our family relationships, personal
health or level of sanity to build our own business is
sadly misaligned. Take it from me,don’t go there.
10. “Build the enterprise and the brand as if you’ll
own them forever.”
Will you sell your business someday? Maybe. Should
that be the sole reason you are building it? Probably
not. When you start and build a business based on
passion and purpose, with a burning desire to solve
the pain of your customer through the deliverance of
monetizable value, you build a far more valuable
enterprise. Those in it for the short-term quick buck
rarely succeed.
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Business