5 golden rules for a successful business

Comments · 139 Views

Responsibility, perseverance and constant dissatisfaction with the results achieved are the key concepts that unite the approaches to their business of an entrepreneur and a professional translator actively working in the market.

I bring to the attention of my colleagues those arguments of G. Kasson, which at one time helped me quickly gain a market position in my translation activities. I hope that these tips will be interesting and useful to others as well. Here they are in an abbreviated form.

Every person running or planning to run a business should ask himself: "What advantages do I already have, and what advantages can I get over other people? What are the undeniable strengths?"

If a person does not have any advantages, then whatever he does in business, everything will turn against him. His business will most likely always remain small. Reason sufficient for growth, in this case, simply does not exist. And use the business directory to find new partners. 

Five factors that are fundamental to success or failure:

Location

Special knowledge

Personal popularity

Personal qualities

Efficiency

Superadvantage

Location

The main thing is not the size of the store, but the number of passers-by. A person must persistently seek the best place available to him for his business. On the bizstanding.com site  you will find many companies for cooperation. 

Special knowledge

A person who has the innate or acquired qualities of a businessman is able to succeed in almost any business. Why? Because he will give priority to sales in his business. And that's just the right way to do business.

Personal popularity

An endearing person who is widely known, who has many friends, has a clear advantage in his business. In business, a lot depends on the location and support of others.

Personal qualities

This is one of the best benefits a person can have. If a person is known for his honesty and reliability, his integrity, his business may start slowly, but most likely it will be solid.

Efficiency

It is this quality that will most of all help a person create a real business. It will turn him from an amateur into a professional. Instead of randomly throwing, he will study the conditions in which his business develops. He will plan and make informed decisions. He will do exactly the priority things first and concentrate his attention on making a profit.

Any ambitious businessman must be a professional in one way or another. The firm must constantly strive to increase its advantages. Every businessman would most like to have a monopoly. This is the only thing that can save him from competition. But a monopoly is rare, and it is impossible to maintain it for any length of time.

It is advisable for any company to have its own specialization, which should be the face of the company. If this specialization is well advertised, then it can become a major source of profit. Having specialization provides almost the same benefits as having a monopoly.

Anyone who sells only what their competitors sell is at a huge disadvantage. Prices for its goods are set as a result of competition. It won't help lowering the price. It will increase his sales, but at the same time may decrease his profits. It is necessary to distinguish in some other way, to make your business special. You need to keep thinking about it until your business is somehow superior to the business of competitors.

Even the smallest advantage can make a businessman a leader in his area, city, and even industry. The audience is always attracted to something special. If a person cannot do anything special, he will either fail or have little success.

It can be seen that in small businesses, the main thing is that they make ordinary things in the most ordinary way. This is the main reason why this business remains small. Another thing is also visible: without exception, every big business has some kind of superiority, a distinctive feature in products or in methods of doing business.

Superadvantage

Superadvantage - this is what lays the foundation for a major success of the company.

Most people, when they start their business life, imitate their competitors. They aim for uniformity. They want to be "normal". They are afraid to experiment. They do the same thing as others. This is mistake.

What is generally accepted and does not go beyond the usual ideas is simply not noticed. An unremarkable business is always shrouded in a fog of oblivion. He never arouses the favor of others, and to achieve it is the main task of a person in his business life.

Very few people are endowed with a desire for originality. By themselves, people are ordinary and do not see the essential value in making their business unique.

But it also needs to be said about something else: it is quite possible for a normal person of average ability to create a big business with many distinctive features. You just need to have common sense and ambition.

A person's business must be smart. It must have distinctive features. This is the first thing to emphasize. Any business that is in every respect ordinary will never be able to withstand the blows of competition. He will only fight for his survival.

In the business world, as in nature, the fittest survive. The business continues to grow as long as it develops its advantages.

A smart manager spends a certain amount of time every week thinking about how to improve his business, how to make it more visible, how to increase its advantages. He knows that improvements can be made endlessly. And he knows that they need to be done constantly. What was an advantage yesterday may not be tomorrow.

Small businesses need to be pushed forward today, tomorrow and every day of the year. In order to create a real business, continuous efforts are required. This process is more like not even building a house, but the work of a farmer.

Business is created by constant increase of advantages. The main guiding principle should be to create optimal conditions for success. Purchasing labor-saving equipment.

Experimentation in the field of finding new customers. Signage update. Advertising activities: spending at least 2% of the turnover on it. Special staff training and much more, which is a super effort to win the goodwill of the public.

Comments