Do You Have What it Takes to Be Successful in Business?
Have you ever thought about what you are prepared to do in order to have success in business?
What does it really take to be successful in business, and how can you gauge whether you already have what it takes, or if you need to learn more or do extra work to achieve your goals.
To be successful in your business or career and to understand the values associated with success; here are some questions to ask yourself.
11 questions of self examination.
- Are you disciplined?
- Do you take rejection personally?
- Do object to criticism?
- Do you respond positively when making mistakes?
- Do you make plans or are you totally spontaneous?
- Are you prepared to take risks?
- Do you stay focused until the result you want is achieved?
- Do you have the stamina to keep going?
- Can you delegate, or are you the only one who can do things right?
- Do you wait and see what happens or do you aggressively go after what you want?
- Will you do whatever it takes to achieve your goals or just consider what’s convenient?
These questions are important and l am sure there are many more, to ask yourself in order to understand the true nature of your personality and work behavior in relation to your business succeeding.
Successful people are aware of the consequences of not being resourceful, imaginative and efficient in these areas. They will find ways, resources or other people to help manage and do the work for them. To help them cover for any deficiencies they may have and ensure their business runs smoothly.
The next step to successful business is the ability to problem solve. Each day in business, particularly when dealing with the general public or specific clientele, it is vital to have an understanding and appreciation of the problems you are dealing with. And how you can resolve them?
The better you can solve a client’s problem the more successful in business you will be.
Learning how to Solve Problems?
Through education, most of us have come to accept as true that there is usually a right or a wrong answer to a problem. However, when we find out that our most pressing business problems don’t necessarily have a single “right” answer, we begin to look for the X like we do in a math problem. This can drive you totally mad.
In the business world, many problems don’t become clearer the more we study them. Instead, they may become bigger and more confusing. Problems involving personalities and active markets can be exasperating.
Here are seven steps that you can use to solve most problems that you may or will encounter during your normal business day.
Seven Steps to Successful Problem Solving
When solving problems it’s important to follow a logical process. Most business problems are not solved because people don’t define the “real problem” clearly.
Therefore, the strength of your problem solving ability can be seen by going through the following seven step procedure to solve real life problems.
- Define the problem:
Identify both a cause and an effect in the describing the problem that needs to be solved.
- Define the objectives:
Put in plain words the outcome that is required as a result of solving the problem.
- Generate alternatives:
How many alternatives are there? Do the alternatives vary greatly? Is there a significant difference associated with each alternative?
- Develop an action plan:
Detail an action plan. Most action plans for tough problems involve taking several steps over a period of time. Specify who did what? And by what dates? A detailed action plan to solve problems is usually more effective than a general attempt.
Understand the worst cases scenario to the problem(s). What could go wrong with plan? What might be the side effects? How do you ensure the plan will work? Will there be any unintended consequences?
Getting information to the right people is key to having success. Address individuals or groups affected by the action plan. Explain who was impacted by it and who needed to be informed about it? Communicate with relevant parties when necessary?
The most effective managers are those who can leverage their time and talents by getting things done through other people. This is your opportunity to build your company’s managerial capabilities.
Carry out the plan and monitor its implementation. Who was accountable for each part of the solution? What were the consequences for failure to meet the plan?
Past experience will give you a good idea of how to solve problems in the future. Think in terms of the quality, consistency, and costs for the solutions.
With all that in mind and knowing what it takes to run a successful business, here are some business tactics that can be utilized to give your business an even better chance of success.
Effective Tactics Every Business Should Put into Action.
Tips just like these… that will apply to every market, regardless of the product or service – are great motivators to try.
- Create a Special Offer
A special offer is exactly that… an offer that is special. Normally, customers would not be able to purchase this product or combination of products, and once the products are gone. You don’t have to go out and order a bunch of new products to put together a special offer. Grab a few items that are related, group them together, discount the price, and your customers will be excited to be getting a good deal.
Think about it from your standpoint… you’ve sold three or four items rather than one. Combination offers are winning deals for everyone!
- Address the Small Customer Groups
Niche markets are everywhere! Within the customer audience that you serve right now are groups of people who share common features. Perhaps you have a group who speaks Italian, a group of young adults, and a group of middle class family men and women.
Evaluate different classes of people, and discover the distinctive needs and desires they have. That will help you customize your advertising campaign to speak directly to them. They will be impressed that you understand and appreciate their needs, and the increase in your profits will be a direct response to this.
- Set up a Winning Referral Program
Successful marketers develop the ability to turn their customers into fans. Often, they will to refer you and your business to others. Their willingness to spread the word is due to customer loyalty. Satisfied customers refer to their friends and family to the place that will take good care of them.
Quality service is the first step toward referrals, but you can easily take it one step further. Studies show that every satisfied customer tells three people about you. What would happen if you were to add a little incentive?
Give customers who refer friends a discount, special gift item, or a simple thank you card – and watch the referrals grow.
You can get two birds with one stone by implementing customer surveys. A few quick questions about what the customer does and doesn’t like about your product, followed by a request for the names and addresses of friends and family who would benefit from the product, and you’re all set to go with the contact information of prospective customers!
So do you have what it takes to be really successful in business?
Can you successfully problem solve? And do you understand how effective business tactics can turn your business into a successful one that everyone wants to use.
If you can answer these questions positively then your business will be in great shape. Most start up businesses fail in the first 12 – 18 months from opening. Mainly due to the owner being unable to answer these initial questions. Understanding yourself, your business market, and how you can solve people’s problems is the key to successful business no matter which niche market you are in.