The first step to building a successful business is to be committed to actually starting the business. We all have ideas, dreams, goals, thoughts, but, turning our vision into a reality is often more difficult than we thought.
Even if you have a massive budget, that does not mean you will be successful. In fact it could mean you waste money hiring marketing teams, advertising, and networking. Not knowing what you actually *need* in the early stages of planning your business is a big mistake.
Let’s take me as an example, mainly because I have been there and done it. I had no business experience, but I had an idea, I was passionate about the idea and I moved forward with my idea. Why was I successful?
- I was patient, I did not rush the process
- I planned ahead, short and long term strategies
- I was productive because I had a plan
Before you move forward with your idea think carefully about your expectations:
- Have more spare time to take vacations
- Have more income to enjoy life
- Work less
The above three examples are common when people decide to start a business, but they read like a fairytale. Unless you have invented the world’s first ever, as an example, a phone that can fly you to the moon, then don’t expect instant success! My guess is there are probably over 2 million small businesses being operated across Canada, and my statistics are only a guess. Why will your small business stand out and be successful is the question you need to ask yourself.
I can’t share all my thoughts about how to build a successful business, mainly because this article would be a very long read. I will be writing my 4th published book on this subject in the near future, but for now I can share a few tips that helped me succeed with my two businesses.
- Plan, prepare, and be positive and passionate about your business idea. If you don’t love what you do you won’t enjoy what you do and you won’t work towards your success.
- Research, discover, ask questions, find mentors. Don’t reinvent the wheel, why make more work for yourself, when others can guide you? Be prepared, know the facts first and foremost.
- Build your brand, build brand recognition, know what your brand is about, know how to talk about your brand, inside and out.
- Don’t start selling until you have built some basic foundations. These should include credibility, brand recognition, and trust. Above all a trusted networking circle of influencers, business owners, mentors, financial advisors, to name a few examples.
- Discover what networking is all about, the why, the when, the how, the who. Don’t waste time and money networking everywhere with everyone, be consistent and be precise.
- Be a part of your community, whether it’s a global or local community, be a key person who is looked upon as an asset.
I think I can read your mind, you thought I was going to share with you the ‘secret‘ to building a successful business in 5 minutes. If my assumption is correct you will probably be disappointed with what I have shared with you. The honest truth is, there is NO SECRET. If you are not disappointed and see where I am coming from, then you will be successful for many reasons. The most important reason is you are in business for the long haul, you are looking for longevity not a quick fix.