There are many factors that come into play and contribute towards a successful business. Every entrepreneur will have his or her opinion on which formula’s work best and what should be avoided. In no particular order, here are five keys which I feel play a major role in contributing towards the success of a business:
1: Failure – What??!! Yes failure. If you never fail at anything you will never learn how to make certain decisions that contribute to success. Many of the world’s best business men and women have hit rock bottom before climbing to the top.
2: Nerves Of Steel – There are times that entrepreneurs get close to bankruptcy before a contract deal or sales come through to lift the bank balance again. Staying calm in these times requires nerves of steel.
3: Patience – Somewhat related to needing calm nerves I suppose but patience is often required in board meetings and dealing with clients who insist you need to hear their life story! (Personal experience and I won’t go into detail).
4: Sense Of Humour – In my humble experience I have found that cracking the odd joke with a client can lighten the all too corporate mood and even be the deal clincher when competing for new business.
5: Persistence – A business person needs to be persistent in almost every area for things to run as smoothly as they can. Marketing, management, administration, production, every part of a successful venture needs to be running constantly. If one link gets rusty, the chain eventually breaks and the machine stops working.
As I said, there are many other factors that contribute towards the success of a business and these are just a small handful I thought about today.
If you would like to add any of your own then please do so from the comment box below this post.