Wednesday, June 5, 2013

Your business success is dependent on three critical factors - your energy, your drive and skill. In its infancy, your business mirrors you in every way. Let's see how each affects your business.

Your energy

In early stages your business resembles a wheelbarrow. It moves only when you put in some effort and stops the minute you do. When you choose not to go to work, your business suffers. It may sound painfully obvious but a casual observation of businesses shows this is not the case. People tend to view business as a separate entity, from where all cash flow with minimum effort (compared to a 9-5). This cannot be true at this point because few people know you or trust you enough to want to deal with you. Your good intentions alone cannot guarantee you business success. You have to earn it.


Drive comes from the vision you see into the future or the troubles you want to escape in the present. Drive is the single most determinant of how fast you will reach your goal. You cannot succeed without it. Drive not only propels you forward but also attracts the right people who will make you want to see you succeed. Drive also shows in the quality of work. Who will not want to buy from someone who is enthusiastic and seems to know what he's doing. He is more likely to be the person will go beyond the call of duty to get things done. Compare this to someone who seems content, indifferent, and unmotivated


Running a business calls for more skill than just being an employee. As an employee, your technical and sometimes inter-personal skills are what you use most. In contract, a business requires you to good with finances, human relations, marketing and production. If you do not have these, you must find someone who has, and let him do his job. If you do not, you become an expensive impediment to your enterprise. You can get away with a lot as an employee but when you are the face of your business, sooner or later your true colors come out. You also have to take cold look at what you know about your business and lose no time learning all there is to your products, even if your will not be the one doing some of the actual work. This aspect is crucial as it enable you to see things from the employee point of view and from the customer side and leading to better decisions.


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