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 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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Permalink Reply by Barb Sibbing ~ Add Me as a Friend! on -
Thanks for a great article.
Barb Sibbing
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Permalink Reply by Christine Triffet on -
Hi Nathan,
I liked everything you said in your 5 elements. One thing I am finding however, is the sense that I really can't do this alone.
I used to wonder why there were so many thank you's mentioned when an actor or actress, received an academy award. I went for years not paying much attention to the credits, since so much of the time, I'd be focused on the main characters. It took me many years of personal experience to help me understand how important even the smallest role someone would play either in front of or in back of the scenes.
As time has gone by, I've noticed that there is a common thread that permeates an entrepenuerial mind and spirit as opposed to the opposite spirit. The attitudes and thought processes, along with HOW one's subconscious mind works, will most often determine and even predict an future outcome. Although thoughts are unsee, and unknown I find it odd that the energy created by those thoughts will often dictate the development of the circumstances.
I've worked in many industries, with different people, in a number of counties throughout California and have met so many people from different cultural backgrounds. I have surmised that sheer belief, along with true vision, determination and a "burning desire" more than "know how", possesses in itself, the accomplishment even before it occurs.
Well now, that might sound like a lot of mumbo jumbo, but it's almost as though we predict or prophesy our own results depending on our outlook and willingness to become part of the solution rather than remain part of the problem.
Hope you enjoyed reviewing this review.
Thanks for sharing your thoughts. I'm really enjoying the internet interaction I'm having in this community.
There is none quite like this one.
Wishing you the most positive of outlooks in all circumstances as you assist others in creating their own desired reality and while you journey down the path you've chosen.
Sincerely,
Christine Triffet
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Permalink Reply by Hans Mertens on
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Permalink Reply by Hans Mertens on
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Hi Nathan,
Thank you for these words of wisdom.
An artist from Holland wishes you good luck en till soon?
Best regards,
Hans Mertens
www.absolutearts.com/portfolios/a/aragorn
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Permalink Reply by Hood on -
I find this source of info, very knowledgeable. I don't know to much about the business world, but it sure helps to give someone a kick start into the steps of success. One thing for sure about me, I listen to everyone opinon's. You never know what kind of idea(s) you might get out of it to help you further seek your goals.
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Permalink Reply by Kathy Mercurio on -
I am blessed to be your friend and I loved your article.If you can please keep them coming,I am new at my business and it is overwhelming trying to learn so much and every day I am learning more,networking, and trying to do the best I can. Have a wonderful day and Thanks again kathy
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Permalink Reply by IndigoBlue on -
Nate, thank you for this. So often simplicity is overlooked, but a 2 x 4 often helps bring it back into perspective. I like what you wrote about the failing mindset. It is so easy to "give up" if one doesn't see their success happening when they think it should. But what one doesn't realize is there needs to be time for their business to grow, time for that "seed to germinate".
I also thought this quote was appropriate for your article: "The secret to success is making your vocation your vacation."— Mark Twain. HAVE FUN!!! ~Kathleen
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Permalink Reply by Dodo on -
Hi Nathan,
Thank you for your advice.
I'll keep it in my mind.
Have a nice week end.
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Permalink Reply by Audrey Louise on -
Hi everyone!
You know why I think this is such a great discussion? Because it allows for the expansive creativity of all of our successful thinking minds to collaborate together in thinking of even more ways to bring success into our business.
And really, I feel like as "critical elements" these can certainly be harnessed, interpreted to a person's own needs, and expanded further upon for even more success.
As conscious creators we are always expanding our awareness and there is nothing wrong with finding new and improved ways of doing things, and I am loving this discussion for this. It has opened the doors for some fabulous ideas with its starting principles.
THANK YOU!
"Of course there is no formula for success except perhaps an unconditional acceptance of life and what it brings." – Arthur Rubinstein
In all of this, I think we can realize that there is certainly no one formula for success, however there are certainly many workable, proven methods. What feels good for you? What brings that unconditional acceptance of life to you in all your endeavors? And those are the steps you can use over and over and over again.
Most of those are basic life steps that we do to make us feel good inside anyway.
Honesty....thanks, Nathan. We create and plan....thanks again, Nathan. We fulfill our basic needs, which can include coexisting with others (that's kind of a psychological basic need, but it is one), thanks again! We are certainly always advancing, expanding our awareness (as conscious creators, this is our inherent ability), thanks again! And we don't give up.....even when one road ends, it is simply a transition into something else, thank you again Nathan!
"Always bear in mind that your own resolution to succeed is more important than any other." – Abraham Lincoln
Great topic!
Much Love,
Audrey Louise
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Permalink Reply by Audrey Louise on
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And having fun....lol...I forgot that basic life step/need that we all seek, too! Thanks again. And this really is critical. I know I mentioned what feels good for you, but it deserves more detail.....
You know, thriving is so very important! There was a study done in China where they took hundreds of infants and gave them ALL of their basic needs (food, shelter, clothing, etc...), and then they took other babies and gave them all the same things BUT denied them a CRITICAL ELEMENT ~ interaction (touching, holding, smiling, cooing, and playing.) And many in that "control group" died. They did not thrive. We THRIVE for a number of reasons and interaction is one of them. Having fun/being in passion causes us to thrive, as well. We are truly enjoying living. When we don't thrive, we die. A similar study was done on the elderly in nursing homes, and you can guess what happened! Those that played games and interacted with others showed signs of IMPROVEMENT and lived longer than others with similar conditions.
I just wanted to reply to my own post. LOL I just thought this was a pretty important element that did not deserve to be left out (or at least warranted more detail). So, thanks again, Nathan! :)
Much Love,
Audrey Louise
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Permalink Reply by Nancy Vacin on -
Hi Nate,
This is a great post. It reminded me to review my business plan and adjust my goals and especially my budget. It confirmed for me that my plan was a good one and just needed tweaking.
I would like to just add that the one main thing that has helped to grow my business is "relationship" with prospects and members. If you members are willing to give 100% then you have to be willing to give 100% to them, especially if you tell them you will match their efforts. This develops trust and friendship. And I also agree with responses you have had, that it pays off to keep a data base of all your prospects, because they might be ready at a later date.
Thanks for the contest. This is fun.
Nancy
Let's Get Growing
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