5 Critical Elements that Every Successful Business Owner Needs to Know.
Today I am going to discuss a very important topic in the world of business.
If you do not believe you are in the world of business just because you may not own your own business, you may want to re-analyze your thinking. Nearly everything in this world is currently based upon business.
Even if you dont own your own business, you can take these aspects I am going to talk about, and implement them into your daily life, or into your work life. They are all around good principles and ideas that can help us in all areas of our lives.
Furthermore, if one day you are ever interested in becoming an entrepreneur and adventuring into the world of business on your own terms, than this will give you a huge head start.
And if you currently own your own business, and you are just starting, have 1 year under your belt, or are a million dollar giant, these are always good principles to go over from time to time.
"The 5 Critical Elements that Every Successful Business Owner Needs to Know."
1. Be honest.
This is a highly debatable topic for sales people and business owners around the world...(why it is even debatable should be a huge question for people.) But the truth is, many people may intend to be honest and truthful with their clients and customers, but because of the many techniques that they have learned, and the various habits that they have developed, this is actually much harder for most people than it seems. When you are totally and completely honest in all aspects of your transaction and dealings, your results are always going to be tremendously more fulfilling.
2. Create a Plan
I remember when I opened my 1st company with 6 other successful business owners, and the very first thing we did for 4 months straight, was come up with a plan. We sat night after night around a large table, covering every aspect of how we thought the business should be structured from the ground up. Additionally, what I learned from that, is that you dont need to cover every little aspect of how you are going to do business... but yes, you do need a solid outline and game plan to guide you in the right direction, and from there, you can fill in the details as you go along. (Make sure to continuously fill in the details!)
3. Cover Your Needs
If you are depending solely on your new business to cover all of your expenses, you may have a surprise coming for you, (Unless of course you have investors, or you are already generating enough consistent income to not have this worry.) This is so important, but many people forget to absorb the importance of this principle. As long as all of your basic needs are covered, and you can continue to invest additional money that you have into your business, you can always keep going and growing, no matter how little, or how big you are.
4. Keep Advancing Your Goals
When you start your business, you have goals. When you move through your first months, and your first years, and of course into your later years, you will always need to continue analyzing, re-analyzing and resetting your goals, hopefully higher than they were the last time you set them. Set a realistic goal, but out of reach, so when you reach it, you will know that you worked extremely hard to do so, and you will benefit tremendously from the outcome. When you come close to reaching that goal, again, reset your goals and always continue moving forward, and upward.
5. Never Give Up
I have read quite a few different forums lately that have mentioned something I think is pretty outlandish, they say "fail quickly, so you can move onto the next one faster." Personally, I have never found that to be a helpful mindset in becoming personally and professionally successful. Yes, I have failed many times before, and failure can be a very good thing. But if you go into a project, business or life mission to own and create a very successful business, and you have the mindset that you could possibly be failing, so you should do it quickly.... what exactly do you think is going to happen? Of course you are going to fail quickly. You need to have a perseverant mindset, especially if you have a burning desire inside you to make this company happen! Dont plan for failure, plan for success. If you encounter failure, that's no problem... I have decided that failure is just a confirmation that success is possible. And in my experience, that is absolute truth.
I invite you to take these 5 critical elements, and implement them into your business, and into your life.
They have really helped me to not only make things happen in my personal and professional life, but to become more fulfilled within myself.
I guess I should have named this the 6 critical elements, because I just remembered the most important of all.
HAVE FUN! Enjoy what you are doing, this is your life, and your business. It is always going to be challenging, but you can make those challenges become enjoyable by seeing them as missions, tasks and lessons that need to be completed for you to move onto the next level.
And always remember to Smile, it's a great day to be alive!
CONTEST
There is a challenge happening right now for the best posts left below, sharing your knowledge, experience and input about what you believe it takes to be a successful business owner! The winner's will have their names and websites selected and promoted in the next discussion! You will be receiving high quality free traffic to your sites! Plus you will be helping many people in multiple ways!
GUIDELINE
Only One post per person please.
Make it your best.
Add your own content, experience, wisdom or knowledge on any subject, technique or principal(s) that you believe it takes for somebody to be a successful business owner.
Let's see who's got the most unique and dynamic stuff!
"Create a miracle today...
and if you dont believe you can, you better double check the mirror."
~Nate Crane
P.S.
"MASSIVELY INCREASE the amount of Your Personal SALES, WEALTH And M...
Enjoy
**Many posts and articles nowadays are just copied, edited, and reposted. This article is certified original from it’s author, Mr. Nathan Crane.
If you do not believe you are in the world of business just because you may not own your own business, you may want to re-analyze your thinking. Nearly everything in this world is currently based upon business.
Even if you dont own your own business, you can take these aspects I am going to talk about, and implement them into your daily life, or into your work life. They are all around good principles and ideas that can help us in all areas of our lives.
Furthermore, if one day you are ever interested in becoming an entrepreneur and adventuring into the world of business on your own terms, than this will give you a huge head start.
And if you currently own your own business, and you are just starting, have 1 year under your belt, or are a million dollar giant, these are always good principles to go over from time to time.
"The 5 Critical Elements that Every Successful Business Owner Needs to Know."
1. Be honest.
This is a highly debatable topic for sales people and business owners around the world...(why it is even debatable should be a huge question for people.) But the truth is, many people may intend to be honest and truthful with their clients and customers, but because of the many techniques that they have learned, and the various habits that they have developed, this is actually much harder for most people than it seems. When you are totally and completely honest in all aspects of your transaction and dealings, your results are always going to be tremendously more fulfilling.
2. Create a Plan
I remember when I opened my 1st company with 6 other successful business owners, and the very first thing we did for 4 months straight, was come up with a plan. We sat night after night around a large table, covering every aspect of how we thought the business should be structured from the ground up. Additionally, what I learned from that, is that you dont need to cover every little aspect of how you are going to do business... but yes, you do need a solid outline and game plan to guide you in the right direction, and from there, you can fill in the details as you go along. (Make sure to continuously fill in the details!)
3. Cover Your Needs
If you are depending solely on your new business to cover all of your expenses, you may have a surprise coming for you, (Unless of course you have investors, or you are already generating enough consistent income to not have this worry.) This is so important, but many people forget to absorb the importance of this principle. As long as all of your basic needs are covered, and you can continue to invest additional money that you have into your business, you can always keep going and growing, no matter how little, or how big you are.
4. Keep Advancing Your Goals
When you start your business, you have goals. When you move through your first months, and your first years, and of course into your later years, you will always need to continue analyzing, re-analyzing and resetting your goals, hopefully higher than they were the last time you set them. Set a realistic goal, but out of reach, so when you reach it, you will know that you worked extremely hard to do so, and you will benefit tremendously from the outcome. When you come close to reaching that goal, again, reset your goals and always continue moving forward, and upward.
5. Never Give Up
I have read quite a few different forums lately that have mentioned something I think is pretty outlandish, they say "fail quickly, so you can move onto the next one faster." Personally, I have never found that to be a helpful mindset in becoming personally and professionally successful. Yes, I have failed many times before, and failure can be a very good thing. But if you go into a project, business or life mission to own and create a very successful business, and you have the mindset that you could possibly be failing, so you should do it quickly.... what exactly do you think is going to happen? Of course you are going to fail quickly. You need to have a perseverant mindset, especially if you have a burning desire inside you to make this company happen! Dont plan for failure, plan for success. If you encounter failure, that's no problem... I have decided that failure is just a confirmation that success is possible. And in my experience, that is absolute truth.
I invite you to take these 5 critical elements, and implement them into your business, and into your life.
They have really helped me to not only make things happen in my personal and professional life, but to become more fulfilled within myself.
I guess I should have named this the 6 critical elements, because I just remembered the most important of all.
HAVE FUN! Enjoy what you are doing, this is your life, and your business. It is always going to be challenging, but you can make those challenges become enjoyable by seeing them as missions, tasks and lessons that need to be completed for you to move onto the next level.
And always remember to Smile, it's a great day to be alive!
CONTEST
There is a challenge happening right now for the best posts left below, sharing your knowledge, experience and input about what you believe it takes to be a successful business owner! The winner's will have their names and websites selected and promoted in the next discussion! You will be receiving high quality free traffic to your sites! Plus you will be helping many people in multiple ways!
GUIDELINE
Only One post per person please.
Make it your best.
Add your own content, experience, wisdom or knowledge on any subject, technique or principal(s) that you believe it takes for somebody to be a successful business owner.
Let's see who's got the most unique and dynamic stuff!
"Create a miracle today...
and if you dont believe you can, you better double check the mirror."
~Nate Crane
P.S.
"MASSIVELY INCREASE the amount of Your Personal SALES, WEALTH And M...
Enjoy
**Many posts and articles nowadays are just copied, edited, and reposted. This article is certified original from it’s author, Mr. Nathan Crane.
Replies to This Discussion
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Permalink Reply by Lori Arriaga on -
Wonderful principles to be reminded of to live by in business as well as personally! Thank you.
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Permalink Reply by Angie on -
This is a great article.
One of the things I have done with regards to my own business is to constantly re-invest my profits directly back into the business. This has really helped me. I don't spend my profits, I re-invest them.
My profits from one order, help to fill the next order and so on. My business is both on line and off line. And when it comes to dealing with potential customers I try to keep the mindset that my ideas are not going to be for everyone and to never be offended by a 'no', never take criticism personally and always remember that there is enough to go around for everyone and therefore I would never have to take from another to further myself along.
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Permalink Reply by Brandon Avery on -
Thanks Nathan. I really found your information very motivational. I've learned a lot from it. Thanks again.
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Permalink Reply by Ben wood on -
Thank you Mr. Nathan Crane for sharing the 5 critical elements with me. Most invaluable indeed. I copied and pasted them to hard. They are printed out and displayed on my office wall so I can read them every day. Smile. Be Happy. I am.......
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Permalink Reply by Denise Lize on -
Great post Nathan, those are very important elements.I posted a blog about The Dream Circle, which contains very important elements as well.It's very good to always get reminded to what we need the most as business owners and in private life.
Thanks so much for sharing with us.
Love,Peace and Blessings,
Denise
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Permalink Reply by George on -
Thanks for the information.
I would like to add that it is also to listen to your customers and make sure you give them what they need and not what you think they might need or should need.
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Permalink Reply by Gopal-theVFusionGroup on -
Running your own business is incredibly tough but can also be incredibly rewarding. Keeping these 5 critical elements in check will definitely help you navigate life's many challenges and keep the deck stacked in your favour. Best, G.
www.boom.thevfusiongroup.biz
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Permalink Reply by Amy on
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I believe these principles to be true and would like to expand by saying that honesty starts within yourself. People will detect to some extend if your intentions are not true or well.
Another key is to learn about rapport and use it to really listen and find out what they need and what would benefit them in any transaction. You share something that would work for them instead of selling it to them.
Creating a Plan A, B, and C is definitely needed these days because times change, people change, and if we don't follow trends or have an easy time flowing in and out of markets, then we are out of business before we even start.
Take care of your own needs first, so you can take care of everything else around you, including others. Pay yourself first, and make sure you plan for business expenses.
We cycle as people and as professionals, so ride those cycles for your own benefit by recognizing when you are in a swing and just go with it. If you play your cards right, you can ride any cycle to it's highest benefit. Acknowledge your own changes and cycles and keep growing personally, this will benefit you, your business, and everyone around you in many ways.
Fun and consistency are keys to success, but so is selling trendy products. Just love what you do, work on yourself daily, and the rest follows. It all starts as a choice, and what you do with it after that is up to you. Your mind is powerful and can make or break you. What's your choice?
Amy
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Permalink Reply by Merry Conner on -
Nice post Nathan. I would like to add to it if I may. Not only do you have to be honest when doing business, you really do need to put your client or leads wants and needs before your own. Give them the opportunity to make qualified decisions. If you play on their emotions and lead them to making a quick and emotional decision to purchase or join your opportunity you could lose them as quickly as you got them.
Another important point when doing business here; if you make a commitment to be there for them and give any help they should need BE THERE! If they have made a purchase of your product and are having difficulty, or perhaps you have just signed them in your opportunity....if you want repeat sales or more active participation you really need to keep your word. All part of the honesty step Nathan, but something so many forget as they get busier in their business's.
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Permalink Reply by Nicholas Frank Russo on -
Report: Offline Ads Are Heavy Drivers of Search Aug 20, 2007
From The Desk Of Nicholas Frank Russo CEO
Designs For Better Living
While many search marketers understand that there is a connection between online and offline marketing, some may not understand its full extent. According to a new study by Jupiter Research and search marketing agency iProspect, a surprising two-thirds of searchers are led to search on a given keyword as a result of offline marketing.
Specifically, 37 percent of respondents said that in the last six months, a television ad prompted them to conduct a search on a particular company, service or slogan, while 20 percent said a magazine or newspaper ad led them online. Twenty percent said a company's store drove them online, and 17 percent were influenced to search by a radio ad. A smaller number were influenced by outdoor ads.
Only 33 percent of respondents said they had not been influenced to search by any offline media in the past six months. For daily searchers, the influence of offline media was even more apparent, with only 28 percent of searchers saying they had not been prompted to search by any offline media in the past six months.
"Today, it's incumbent upon marketers to integrate search with their offline efforts," said Robert Murray, iProspect's president. "Quite simply, their offline messaging needs to be memorable and facilitate search, and their search efforts need to echo that messaging and integrate those keywords. The bottom line is that integration is no longer optional."
The most common keywords searched were company names, or names of products or services mentioned in an offline ad. In 44 percent of cases, the keyword was the company name. To take advantage of this, marketers should prominently feature company and product/service names in their offline advertising, and make sure their sites are organically optimized for those keywords, and they are showing up in search ads on those keywords as well.
If an offline ad features a tagline or slogan, search marketers should also ensure they are showing up in either organic or paid results for that as well, Murray said. "Offline ads have a short window of time to get the message out to the audience. People often tune out ads, but remember snippets of them. That makes search even more important," Murray said.
Besides driving traffic, offline media tends to drive quality traffic, according to Murray. The study asked those users influenced by offline media if they had ultimately made a purchase at that site as a result, and found that 39 percent had done so.
That 39 percent conversion rate is generally higher than the rate achieved by either search or offline channels alone, Murray said. While the offline ad gets attention and creates demand, it's search that can harness that demand and drive the potential customer to the company's site and turn it into a sale, he said.
"Sure, offline channels can drive traffic, but at the end of the day, it's pretty much meaningless if a purchase isn't made," said Murray. "Marketers want to know the pay-off. And the data from this study suggests that search and offline produce extremely impressive results."
While many marketers are aware of the relationship between online and offline media, it can still be difficult in some organizations to coordinate online and offline campaigns, due to the siloing still present in many marketing departments, Murray said. Many offline marketers don't want to give up any control to their online counterparts, but Murray has found that laying out the situation clearly can help both sides adopt more of a team attitude.
"Search is no longer an add-on consideration for marketers," said Murray. "It is front and center. And while it is a powerful channel on its own, it's clear that its efficacy is multiplied when combined with offline channels."
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Permalink Reply by Carolyn Smith on -
I love the challenge and would like to add a number 7. S"Not right now" does not equal NO. As a new business owner I am encountering a lot of "not right nows" when asked to review my business opportunity. I am excited because I see the BIG PICTURE and want to share it and have it received with the same energy; but what has been happening is I am being slowly contacted by previous "nrn's" and now is their time. So keep your energy up even if you hear a not right now because it is only on the side burner for some people... they are not saying No to you.
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Permalink Reply by Faye on -
Nathan, You are right-on with your 5 points.
I will add a few more.
First, it is important to be opening to learning all the time. Even when you think you know everything, there is always more. Seek out others with experience in various aspects of your business or a similar business. Take folks to lunch or breakfast, ask a few questions and LISTEN, take notes. There are bound to be some gems that you will want to remember.
Listen to motivational CD's, sales training CD's, and personal growth CD's. Go to seminars too.
Network with other business people. You never know who you will meet or who will know someone that can use your services. The best sort of advertising is word of mouth, whether it's in person or online... statistics have shown that person-to-person advertising is absolutely the most effective. People buy from people they know and like. Think about your own buying habits and you will likely see what I'm talking about.
One more thing... Going along with the necessity to be honest -- that is: Keep Your Word. If you say are going to do something, do it! People need to know they can count on you. If you agree to something and don't follow through, word will spread very quickly that you are unreliable and your reputation will be shot. When in doubt, say, "No" right from the beginning. "I'm sorry, I'm not available at that time." "I'm sorry, but the project will take longer than that." Whatever it is, let folks find someone else to do what needs to be done or offer them alternatives, but don't agree if you're not going to get the thing done.
If you're looking to create a splash! and become a recognized expert in your field, consider writing a book. No matter what your business is, being an author can get you much more recognition than you ever dreamed. Free publicity, additional income, more customers... the list goes on.
And it's not as difficult as you might think. There's a great free 7-part ecourse on my website that will help you formulate your thoughts and get started. (Alright, this is a shameless plug, but it's still true and it's free!)
And one final tip: Business is work and business should really be fun. If you don't love what you do, you won't get through the difficult times. Choose something you enjoy and work it baby, work it!
All the best to you!
Faye Levow
www.WriteYourBestSellerNow.com
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