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

Advertisements




Happy New Year 2012

17 01 2012

Happy new year to one and all.  Now is the time we all take a moment, assess where we have been and set goals for where we want to be in the new year.  Granted, 2012 has been here for all of 17 days, but that really means there are 349 days (remember, this is a leap year) left to make the year really successful. 

Image

This week we are going to address the question of success.  Do you consider yourself successful?  Do you consider your business successful?  Even if you think both you and your business are successful, what do you plan on doing this year in order to become more successful? 

The first thing we all need to do is to assess our own personal definition of Success.  Success for some may refer to a level of social status, achievement in business or school, or that you didn’t fail at doing something.  The Cambridge Academic Content Dictionary defines success as:  “the achieving of desired results or something that achieves positive results.”  So, success for one person may not be successful for someone else. 

To start your new year out right, you need to define your version of both personal and business success.  It is important to define both because if you achieve success in one and not the other, you will probably not be happy with your overall results.  If you expect your business to be successful, you should be successful in your personal life. 

Where is your life headed right now?  Is this the direction you want to go, if not, why not?  If you want to go in a different direction for 2012, what do you need to do in order to get there?  Do not try to overhaul your life in one big swing.  If you are not where you want to be now, it probably occurred in a series of small changes, not one big change.  So, if you want to put your life back on a successful path, you will need to make small changes that will ultimately add up to the large, successful change you desire.  Making this goal is no different than setting goals for your business plan.  You have the ultimate goal in mind, but you cannot get there from where you are right now.  In order to get to that end result, you will need to set a series of much smaller, and easily attained goals. 

These smaller steps are all to be designed to keep you not only pointed in the right direction, but to keep you motivated while you are ever so slowly marching towards your main goal.  How many times did you set a goal, and after months of hard work, still don’t seem any closer to that goal?  Don’t you get demotivated at that point?  Odds are that you become so frustrated with the lack of progress, you toss the whole idea out the door and quit.  By setting smaller, easily achievable goals, you can reward yourself and your business quicker and remain motivated and moving toward your major plan. 

Even after you have set your goals, are you happy with the path that you have taken?  Is this REALLY what you want to do and is this the direction you feel your business should be headed?  True success is loving what you do.  If you have your own business, you should be in it because you LOVE to be there, not just because it pays the bills.  There is nothing wrong with working in order to pay the bills, but you need to find something that will assist you in gaining financial freedom too.  You can work a regular job, but if you begin to work towards financial freedom, you may discover that you start enjoying what you do because you are getting closer to your goal.  Once you start enjoying yourself, you are becoming successful.  The world’s most successful people definitely love what they do.  They may be working insane hours in their business, but since they are doing what they are passionate about, the hours are not a burden.  That is true success. 

So, keep on plugging away with what you are doing, but perhaps you will want to start building towards your own personal success.  Don’t just set goals to achieve, but be sure those goals are what you are passionate about.  Without passion, you will never feel like you are successful.

Until next week.