4 Fundamental Keys to Success for New Businesses

4 Fundamental Keys to Success for New Businesses


B4 Fundamental Keys to Success for New BusinessesBusiness advice is everywhere. No matter what you do or how you do it, there’s someone out there – probably a lot of someones – trying to teach you how to do it better. A lot of the advice is pretty basic; but, honestly, it’s the simple stuff we tend to ignore. Give us ten-page schematics and a massive PowerPoint presentation, and we’ll sign up for that seminar, but a simple handful of timeless wisdom? That often gets short shrift. It’s easy to nod your head and not let it really sink in. Don’t let this be one of those moments. Here’s some of the best advice I was given when I decided it was time to hang out my own shingle.

Don’t chase fads.

Build your business around a need you’re passionate about meeting or a problem you are dedicated to solving. That way, when the going gets tough, you know you’re going after more than the almighty dollar. Motivation is vital to success in business. Why are you doing what you’re doing? If you don’t have a good enough reason, you’ll quit. If you do have a good reason, you’ll find a solution.

Embrace failure as part of the process.

It’s an old story in countless successful bios: people who once told you “no” will be the ones who say “yes” down the line. Timing is vital in business, and you might not be ready, now, for a relationship that will be a vital step up down the road. Don’t let rejection tear you down. Look at that “no” as one step closer to finding the better “yes” and keep pushing forward.

Work on making your vision magnetic.

It does no good to see the future if your employees don’t understand your vision, and your customers aren’t interested in it. One of the foundational keys to success in business is being able to communicate your vision in a way that draws people in and inspires them to play a role in the process of bringing that vision to life. They need to know where they fit…and they need to want to be there.

The majority of your focus, as the CEO, must be on things only you can do.

If it can be handled by someone else, someone else needs to be doing it. If you are the best person for a particular task, that needs to be where the lion’s share of your focus must be. How much of your day do you invest doing things other people could be doing?