Defining the Road to Business Success !3 years ago Guest - Mehak Narula
There’s no specific way as such to define the path to business success when it comes to an entrepreneurial journey. Still, there are some common parameters, dos and don’ts, even tips and a similar pathway in every business type that one has to follow no matter what. That doesn’t mean your business process has to be aligned in the same manner or you go by rules. That’s a big NO. Remember, entrepreneurs are known to break rules and come out of their own comfort level to do what it takes to reach where they got to!
So, below are some time tested ways to ensure your business hits the success road….
- Long shot or Short…It has to be a sure Shot!
Whether you are thinking about starting up or your baby is in the early ages, just make sure your goals are clear. Your idea does not have to be one of a kind; all top companies today have a past history of starting up something conventional and ending up different yet big. Nintendo was originally founded as a purveyor of handmade hanafuda playing cards before it became one the biggest players in the video game industry.
- Building your Key Strategy
Defining your starting point and the goal is simple enough but what takes place midway is the tough job. The timing, the chain, linking, series of decisions, analysis and setting up the framework. Even if you already have designed your business strategy, the main focus then shifts to its implementation and deployment which seems like a never ending cycle.
- Know that it will Take Time!
It’s completely alright to aim high, expect big bucks but know that it’s a slow and steady process. So, if your revenues aren’t turning up as you quiet likely expected, don’t fret ! Not all start-ups earn their stars in a short span of time. In addition to this, every start-up has its own success points, say getting your brand identified, delivering your promises, achieving market share, being the top notch. Pepsi Co and Coca Cola are in constant competition with each other, the day one of them earns or wins a place in some segment they define it success. In short, be patient and persistent. Yeah that’s pretty easy saying (not in real ha!).
- Keep Learning…
Oh no, I’m not going to repeat what you’ve already heard – Learning never ends and blah blah! The tip here is, while your handling multiple tasks here and then and getting the gears right, try working for someone else too and you’ll see that you’ll have an add on to the experiences and knowledge you gain out of it.
- Listen to your customers….
Customers are no longer just observers, they are now active and learning about each brand and what it’s got to offer. Social Media has brought in more transparency, let alone the review websites. In the past, all those companies who have been on their toes to find out what their customers actually need, are making big. Amazon, which was once just an online book seller, is now a full-fledged marketplace for nearly any product available in addition to entering the market of cell phones. Almost half of the ideas to diverge into something new will come from your customers.
- Last of all…Network, Network and Network!
Networking is the beginning of ideas and conversations that happen over a simple coffee turn into business deals when least expected. It is also the key to finding your potential investors, finding what business honchos think about how you are doing and what better can be done!
There is always room for improvement, learn to be flexible and not just focus on one thing at a time. Success is all about doing many things to make your business flourish!