I was chatting with a friend of mine the other day and he asked me a question that in many respects stopped me in my tracks. “What are the keys to business success?” I paused before answering and I thought that it would be worthwhile sharing my answer with readers.
Vision
Having a vision is fundamental to providing a direction for your business. Without a vision you may be successful for a time but eventually you won’t know what problem your solving or even why customers keep returning.
A vision is less about having some grandiose statement that is pinned to a wall and more about the DNA of your company. It’s tackling the why you are in business more than what you are doing. If you can answer the why then customers will be drawn to your philosophy as much as your products.
Talent
Whatever your business is you will require some skills to become successful. You may not have all of the skills you need right now but over time you must be open to personal growth and acknowledge the fact that you don’t know everything.
Some business books call talent “your competitive advantage” or “what problem are you solving” but really it’s all about adding value for customers. If your customers are receiving value, then they will return time and time again.
Persistence
So many businesses fail because the founder just gives up. They get all excited about the idea of business but when adversity comes (and it will) they collapse in a heap and lament about the good times of having a job.
Ninety-nine percent of the time business is just plain hard work. When all of your friends are at home watching the latest football game on the television your still working. Don’t give up….just keep on going. I know it’s hard but without persistence you’ll never get the ball moving forward.
When you think about it, entrepreneurs tend to live in the future and are empowered by their dreams. They can put up with incredible hardship in the present as long as the dream remains alive. By diligently working and putting one step in front of another you will eventually get to your vision.
the There you have it in a nutshell. Yes, business can be incredibly complex but there was my answer to my friend; vision, talent and persistence.