To your business success

1 02 2012

“Success on any major scale requires you to accept responsibility …In the final analysis, the one quality that all successful people have   is the ability to take on responsibility.” – Michael Korda

Striving for Business Success

Two weeks ago, we discussed the meaning and definition of success.  This week we will continue the discussion of success along with responsibility, and what you need to do to attain success in your business.

As indicated in Michael Korda’s quote at the beginning of this post, successful people always seem to have the ability to take on responsibility.  To be successful, you have to be responsible; that once you start a business, it is your responsibility to yourself, your employees and your customers to keep that business going.  You are responsible for the proper development of a business plan, correctly marketing your products, and taking care of your customers.  If you have a product or service that your customers absolutely love (and what business doesn’t have a product or service that customers love?), it is your responsibility to continue to provide those customers with those products and services that they have come to depend on.

Ultimately, if you do not feel responsible for your customers, your business will inevitably suffer.  The old adage, “the customer is king”, still holds true even in this electronic day and age.  If you alienate your customers, they will not purchase your products however good they may be, nor will your customers utilize your services.  It is your responsibility to listen to what your customers wants and needs are and then to take that knowledge and assist those same customers.

By listening well to your customers, you will learn where and how to increase the sales of your business, and subsequently make your business more successful.  But growing sales does not necessarily guarantee business success.  You are still responsible for keeping track of the additional costs involved in increased sales.  It is your responsibility to grow your business in a manner where it becomes more profitable, not less profitable.  There are some so-called business people out there that believe just because their sales are up, their business is growing and succeeding.  That may not even be close to the truth.  As a business owner, it is your responsibility to not only understand what it is you offer to your customers, but it is your responsibility to understand what it means to be profitable.

Just because sales may increase, you need keep a close watch for extra costs not associated with the increased sales.  If you are in a business that allows customers to purchase on credit, this is a huge area that can really damage your profitability.   Great, your sales are up, and your customer credit is also up.  Now, how are you planning on paying your bills if your customers have not paid their bills to you?  It is your responsibility to both yourself, and your business to understand the dynamics of the whole business.   What may also come with an increase in sales is an increase in staffing costs.  You need to be sure that the additional costs you are bringing on do not outweigh the increased sales.  You need to act responsibly with regards to increased sales because your ultimate goal is to have more money going into your bank account than out of your bank account.

It is your business responsibility to increase your business bank account month over month.  By doing that, you are insuring your business success.

If you are looking for an additional income stream to supplement what you currently have, take a look at our website, we may have something that would compliment what you are currently working on or inspire you towards new goals.

“Success is peace of mind in knowing you did your best.” – John Wooden

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Finding your Passion in Business

24 01 2012

Last week we discussed reviewing where we were in business and setting goals for where we want to be by the end of this year.  While we were discussing goal-setting, I mentioned that it was not only important to set obtainable goals, but to set goals that you were passionate about.

This week we are going to explore a some possible ways that you can find your passion in business.  Let’s first define Passion:  “Passion is a term that is often applied to a very strong feeling about a person or a thing.  It is an intense emotion, compelling feeling, enthusiasm or a desire for something.” – Wikipedia definition.

“What is passion?  It is surely the becoming of a person.” – John Boorman

If you are in a home-based business, or are managing a small business. it is highly likely that you were extremely passionate about the business you got involved in.  The problem is that running a business, especially a home-based business, can be very time consuming and tiring.  After a while, you may start to wonder why you ever thought you wanted to be in business for yourself in the first place.

If you are still working your business, you may need to rediscover the passion in your business.  It could be helpful to sit down and write down all the reasons WHY you got involved in that business originally.  Sometimes, when you go back to the beginning, you can rediscover the passion that inspired you to start your own business.  As you rediscover your passion, write down the points that you feel very strongly about.  You want to remember those aspects of your business when times start getting difficult again.  Do not focus on the negative aspect of your business, everyone has tough times, and focusing on the negative will not allow you to capture the passion (positive passion) that you were hoping to discover.

Once you are able to rekindle the passion you had at the outset, now would be the time to start setting goals for the future.  If you had focused on the negatives of your business, odds are that your goals would not be all that they should be and you could very well start a downward spiral of your business.  As you start defining your goals, always be sure to verify that you are passionate about the goals you are setting.  You should be very passionate about all of your big, long-term goals because if you are not, there is a very high likelihood that you will not achieve those goals.

Make sure your goals are realistic, but that they are also designed to push you and your business to greater heights.  If you can set long-term goals that you feel very strongly about, then it will be so much easier to remain motivated and passionate  as you work towards those goals.  After your “big” goals are set, then you can start designing those smaller, stepping-stone goals, that will help you to attain your “big” goal.  Again, if you are passionate about the end result, you will find a much stronger motivation to continue working towards that goal, despite any road-blocks that will appear.

Sometimes you may discover that you cannot recapture the passion you once had.  If you feel you are in that position, before you do anything rash, talk to some other small business owners.  Ask them how they managed to work through their challenges.  As we discussed last week, talk to successful people.  Do not waste your precious time and energy talking to people who feel your passion is misplaced or misguided.

Continue to strive to be passionate in your business, and strive to provide the best services to your customers.  By providing the best for everyone, in the long run, your business will prosper.    One critical key to success in business is finding your passion in business.

If you are looking for some business opportunity to get involved with, perhaps we can be of assistance.  If you do not see anything that triggers your passion, perhaps you can use some of the ideas from the website to discover what you are truly passionate about.  As always, if you have any questions, please feel free to contact us.

Until next week…keep the passion