Actually just to start a business you need only three simple things:
- Know your product better than anyone else
- Know your customer
- Have a strong desire to succeed
Everyone wants to be successful, until they realise what it actually takes.
What is business success?
But before we delve into looking at how to develop a wildly successful business, let’s look at what success actually is.
According to Business Dictionary, success is the achievement of an action within a certain period of time or within a specified parameter. The fact is that success in your business looks very different for each and every single person out there.
Putting together a strategy as well as outlining what success appears to be for you gives you a way in order to gauge your success. The main drivers of success are hard work and determination, no matter what line of work you’re in.
What is does being ‘successful’ look like in entrepreneurship?
Entrepreneurship may feel like you’re sailing a ship all by yourself. During this process, you may not be entirely sure where you’re going or how you’re going to get there. In addition, you’re responsible for all from the steering to ensuring that the ship doesn’t sink. And, during your journey, you start to query if there even is a destination.
A lot of young business owners begin with a goal of “being successful.” However what does “being successful” really mean? The simplest (and most accurate) response is that success is different for everyone. Like with everything else with your business, it’s up to you to define what success is.
Setting your business up for success
Establishing long-term goals assist you with locking in what success entails for you. Occasionally putting your ideas on paper helps to outline a vision for your business and shows you just what you are required to do in order to get there.
To establish these goals, sit down with your business plan and start thinking about your one, five as well as 10-year business goals:
- Where do you see your organisation at each of these stages?
- Is there a common theme between the goals which you’ve set?
Write down your dream of success for each time period and reassess the plan each year in order to see how your vision has altered.
As you’re establishing your goals, keep as objective and clear-headed as possible. One thing that could make or break down a business is the amount of preparation as well as planning which is done objectively. Passion is vital but don’t let your passion blind your objectivity.”
Keep your goal in mind as you establish each goal. Then, think about how that goal can contribute to your idea of success. Consider using the SMART method – specific, measurable, attainable, relevant, time-oriented – in order to establish your goals.
Remember the nitty gritty
According to a study which was carried out recently, 51% of customers will not do repeat business with an organisation after a bad service experience. Other studies have demonstrated that it takes several positive customer encounters to make up for one negative one.
Given that loyal customers make it much simpler to sell, ensure that you make good customer service a priority. Evaluate your current customer service and make the necessary changes which need to be made in order to ensure that your small business is providing service which is superior to that of your competitors. You might need to:
- Spend on staff training,
- Overhaul your return policy, or
- Make fundamental improvements such as responding quickly to voicemails or emails from customers.
Whether you run your business in a small community or in a large urban center, word of mouth is much more important than ever. Most consumers turn to the Internet in order to search for reviews of companies before they decide where to shop. This means that building a good reputation is crucial to the success of your business.
So how do you get positive word of mouth? By offering good, professional service, building as well as monitoring your local (and online) reputation, in addition to gaining publicity by giving back to your community through your support and sponsorship of local organisations and charities.
Contact Future Self Academy
If you want discover more about how to build a wildly successful business then you really need to check out our catalogue of business courses. Developed by people who are wildly successful in their chosen careers, they are sure to set you on the path to success. For more information, please follow this link.