8 Tips to Help You Become Extremely Successful in Business 43

8 Tips to Help You Become Extremely Successful in Business

This is a guest post by Brian Loman.

If you want to be truly effective when it comes to your business dealings, you will definitely want to keep some of these tips in mind.

There are so many different things to consider when it comes to succeeding in business that you will want to really take your time with getting this sort of information.

1. Stay focused on your ultimate vision.

It can be easy to get caught up in the minutia of everyday life and forget about your ultimate goals and vision, but it’s something that you will definitely need to keep in mind at all times.

As long as you stay focused on your long-term goals, you will be able to make the best decisions for getting you to where you need to be on a regular basis.

The last thing you want is to lose track of your vision when it comes to any sort of business venture.

2. Get a loan if you need one.

If you find yourself unemployed out of work, it is important that you look into the benefits of emergency loans.

With the help of a loan you will be able to get the funds you need to cover basic expenses and pay your bills.

A lot of people who fall on hard times end up getting loan, so you should therefore take the time to consider this option.

Being unemployed can be very difficult and financially straining, but a loan could help you get through.

3. Always keep moving forward.

What An Incentive Program Can Do For Your Business

Perseverance is the key when it comes to being truly successful in business.

Those who allow themselves to get stuck in one place always regret it at some point. You should make it your goal to always keep moving along, making progress every step of the way.

It is when you stop looking forward and making an activate effort to move on that your business will start to decline.

Being an entrepreneur can certainly come with its own set of challenges, but you must always be willing to meet them head on. It can be tempting to focus on past failures, but doing so will only inhibit you from becoming successful and meeting your goals.

Businesspeople who adopt this mindset of always moving forward will most likely experience fewer problems than those who stay wrapped up in the past.

4. Be flexible with your plans.

While it’s true that anyone who wants to be successful in any type of business must have a firm plan in place, you will need to remember that flexibility is also important.

If you don’t allow room for flexibility with your business plan, you could find yourself in a very bad situation.

Sometimes it becomes necessary to improvise as an entrepreneur, so you will need to make sure that the plan you’ve come up with isn’t too rigid.

Every good business plan should allow for unforeseen circumstances, because things won’t always work out the way you’d like them to. It is important to have a detailed business strategy, but you will need to make sure that there is still room for maneuvering tough situations.

5. Use your skills to your advantage.

It is always a good idea to use your natural and acquired skills to your advantage in business. By doing this you will give yourself the upper hand.

While it’s not a good idea to do this for all aspects of business, it can be very useful in certain scenarios. Make sure to focus on your strengths so that you can increase your chances of succeeding as much as possible. It’s better to focus on what you are good at, even if it is just one or two things. A lot of people try to be a jack of all trades, but they just end up being a master of none.

6. Improve upon existing business models.

One of the best and most effective tips for budding entrepreneurs is to avoid reinventing the wheel so to speak, but rather improve upon existing business models and systems.

Identify some of the major flaws with the systems used by other companies so you can learn from their mistakes. Figuring out how to make these improvements can be difficult, but this is a good start.

By making the right improvements, you will be able to significantly increase your chances of becoming incredibly successful with your own business venture.

You don’t have to create the next best thing, but rather you can tweak something that exists for a better user experience.

7. Take care of yourself physically.

Running your own business can take a toll on your physical health if you don’t remember to take good care of yourself. It is therefore crucial that you do everything you can to avoid burning out.

This means eating healthy, exercising regularly, and even meditating on a regular basis.

Many CEOs of large corporations understand the importance of taking care of themselves, and they are very serious about it. If you want to be truly successful when it comes to business, you will need to remember this.

8. Leverage everything you can.

If you want to run a successful business, you will need to make a point of leveraging everything to your advantage. There are many different ways to do this, and it just depends on the situation.

One good example of this is to use small periods of downtime, whether it is waiting in a doctor’s office or sitting in traffic in your car, to increase your productivity.

The more you leverage in your daily life, the more successful you are bound to become. Those who understand this point will have far less difficulty getting to the top, so you will want to keep that in mind.

There are endless ways to leverage things in your favor, and it’s important that you get creative. The more time and effort you put into this, the better you will do with your business.

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What the Richest People in the World Have in Common 4

What the Richest People in the World Have in Common

Getting rich is something everyone dreams about.

For those facing financial hardships, getting rich seems the only way out to tide over shortage of money. For the bourgeoisie – the working class – getting rich conjures up visions of stuff they want to buy for luxury or higher social status. Millionaires also wish to get rich: they want to become billionaires and enter Forbes List of the world’s wealthiest people.

Unless you inherit a fortune or get lucky at lottery or sweepstakes, getting rich can be quite tough.

Yet, there are countless rags-to-riches stories around the world. Enterprises such as Amazon, KFC, Facebook or SpaceX have become runaway successes within a short span. The reason: their founders have several things in common, which is rare among other people.

Here we look at various traits that the world’s richest and most successful entrepreneurs have in common.

The Common Traits of The World’s Richest People

The Common Traits of The World's Richest People

1. Serving People.

“If your only goal is to become rich, you will never achieve it,” said John D. Rockefeller, who laid the foundation stone for America’s giant petroleum industry and his own enterprise, Standard Oil. The same adage holds good today.

Facebook, for example, was launched by Mark Zuckerberg and his roommate, Eduardo Saverin to allow Harvard University students to share profiles and pictures

There are countless such examples of ordinary people striking rich. However, they share one thing in common: serving people. The main objective of launching these enterprises was to make life easier or enjoyable for people rather than earning money.

2. Reading Books.

Microsoft founder Bill Gates, celebrity TV show host Oprah Winfrey, SpaceX and Tesla CEO Elon Musk, Berkshire-Hathaway CEO Warren Buffet and several other extremely rich people of the world have one more thing in common: they are avid readers.

Bill Gates reads at least 50 books every year – an average of nearly four and a half books per month.

Elon Musk owes his success at SpaceX, the project to open space tourism to his love for books and the knowledge he gained from them about rocketry. Oprah Winfrey attributes her success to dozens of books, including some 70 top titles she read on her way to success while Warren Buffet spends about 80 percent of his day reading books.

3. Long-Term Financial Strategies.

A report by CNBC states, all wealthy people depend upon long-term financial strategies rather than short-term gains. They utilized their earnings and savings to invest in safe stocks that would assure gains in the long run rather than indulging in risky trading that can offer high returns.

Such financial planning and decisions ensured they do not lose money. Further, they invested money in their enterprises without the hope of immediate returns.

These wealthy people first focused on building a brand, offering value for people to identify with the brand. And later, popularize the brand through word-of-mouth publicity, which is more effective than traditional advertising.

4. Never Say Die.

Yet another common character trait shared by the world’s richest people is, they are not quitters.

Like every other human on Earth, these wealthy folks also witnessed ups and downs in life. Some of these were so overwhelming most ordinary people would have called it quits and gone in search of easier ventures.

Brian Chesky, Joe Gebbia and Nathan Bleckharczyk, founders of Airbnb, the world’s largest hotels and accommodations aggregator were plagued with financial problems.

 

Heavily encumbered with debts, bankruptcy was staring at these entrepreneurs in the very eye. Yet, they did not budge. They innovated their service that made Airbnb the world leader in its field today.

Another excellent example is Colonel Harland Sanders, whose recipe for fried chicken was rejected as many as 1,009 times before it was accepted. Col. Sanders is the founder of global chain Kentucky Fried Chicken or KFC.

5. Accepting Criticism.

Most people flee from criticism of any sort. Rather than learning from negative comments arising out of their behavior or work, they take umbrage rather quickly. Yet, they do not bother to amend their behavior or work pattern.

All wealthy people, however, are different. They are willing to be criticized for introducing new ideas or thoughts.

Jeff Bezos, founder of Amazon, rightly says that those who will try and do something new must be willing to draw criticism.

Steve Jobs, founder, Apple, Inc. puts it in even stronger words: “If you want to make everyone happy, do not become a leader; sell ice cream instead.”

The success of Amazon and Apple proves their founders were right when it came to accepting criticism.

6. Out of The Box Thinking.

how regular life looks like and why it won't make you happy

Thinking outside of the ‘box’ or a typical mindset is often impossible for most people. Understandably, because everyone draws their mindset from factors and circumstances they are raised and educated in.

This mindset eventually becomes a formidable fetter for anyone wanting to become an entrepreneur. Generally, most people follow the flock and take professions they falsely believe as best suited for their skills. Others try to follow footsteps of their parents.

The wealthiest people in the world never followed flock or took lucrative professions of their parents.

Mark Zuckerberg’s father was a dentist and mom – a psychiatrist. Bill Gates’ dad was a banker father while his mother was a lawyer.

Despite coming from wealthy families, they chose to follow their passion rather than confine their thinking to the proverbial boxed mindset. Col. Sanders had lost his parents at a young age of six years and had to shoulder responsibilities of his siblings.

Other Examples of What The Wealthiest People Have in Common

As we can see, these qualities or personality traits are common to the world’s richest people. It sets them apart from others. Most of them launched small enterprises with the sole purpose of bettering the lives of people. Their products or services gained popularity because money was never their consideration. Widespread use of their technology, products, and services eventually led them to become wealthy.

These traits are not typical to the US or the western world, as one may mistakenly come to believe. A glance at some richest people in India and elsewhere also reveals, they share the same characteristics with their American counterparts. This amply proves that richest people around the world share something in common, regardless of where they live and flourish.

Another common trait that all rich people share in common is philanthropy.

Since childhood, they believe in giving back to the society and helping the underprivileged. They practiced charity when they were not so rich and continue to donate money for the betterment of the society even after becoming billionaires.

These richest people on the planet never waited to become wealthy. Instead, they were philanthropists since childhood – a trait most other people pathetically lack or try to foist upon themselves to gain popularity.

In Conclusion

It is not easy to become wealthy. Or everyone would become a millionaire. People who do make it to the top have a different way of thinking combined with an undying zest for learning new things and educating themselves.

They do not consider conventional learning at universities as the end of their education. Instead, they try and acquire new skills every day and find ways and means to become better humans rather than focusing on fattening their purses.

The world’s wealthiest people also share one common trait: they are not people pleasers, despite their generosity and willingness to serve the society. Because they know, trying to please everyone will get them nowhere and could mean possible failure.