November 12, 2009
Whether you’re new to the world of running your own business or a seasoned veteran there are traits that all successful entrepreneurs have, or develop, to give them the edge and the best chance of success.
These are what I call the ‘must do’s’ for running a successful business, so keep this list close at hand and review it on a regular basis to keep you on track:
1. Develop the ability to see what others want/need/desire through your own research, findings and searching. As my business partner Neil Travers always says, “keep your head up and eyes open, opportunities are all around.”
2. You don’t have to invent a brand new product to be successful. Look for the gap in the market gap for a new product/service or the development and improvement of an existing product or service. Richard Branson wasn’t the first to have an airline, but he successfully built his businesst on the premise of improving on what was already being offered.
3. Focus on service, service and service as too many businesses and entrepreneurs overlook this simple business premise. They focus all their efforts on the ‘front end’ of the business with little or no regard for what happens next.
The technology now available with help desks and virtual assistants means there is no excuse not to give exceptional customer service, no matter what the size of your business is.
4. You have to start somewhere, and you have to get started now, not spend time thinking about it. That first step of registering a domain name meant I had begun that business, then I had to keep going, but you go nowhere if you havent’ made a start.
STOP putting off what can be done today and get started NOW!
5. Start small and grow to ANY size you want to. An Information Marketing business can get started for a few hundred pounds and grow into a multi million pound business by reinvesting your profits.
6. Keep using the Internet and other sources such as your local library for acquiring new information about your market, customers, competitors and ideas!
7. Generate and create entrepreneurial excitement about your business and keep that feeling as you continue to grow.
8. Always charge the most you can for your products to create bigger profits for you and your company. Having good profit margins will give you the advantage when developing marketing campaigns, new products and for meeting any problems head on.
9. Develop a strategy that helps your customers grow, enjoy, improve or profit from the information, products and services you sell them.
10. ALWAYS maintain honesty and integrity in your dealings and stay true to your values.
11. Every business owner is going to have to deal with anxiety, frustration and problems so cope with them by developing tenacity and perseverance.
12. Always be on the look out for mistakes and how to avoid them. Remember the saying… “to trip over a rock in a campsite is an accident, to fall over it twice is a warning and to fall over it a third time is stupidity.”
13. Remember, you must continue to win back your customers over and over again. You cannot take them for granted.
14. Constantly review your numbers, results and checkpoints within your business. Having control and an understanding of your business will help you as you grow.
15. Diversification within your business is the way to offer more to your costumers and prospects by bringing related products and services to them. It will also strengthen your position in the market.
16. Look to sell your business when it no longer interests or excites you.
17. Look for something that is worthwhile, fun and enjoyable to do with the money you earn. Otherwise why are you doing it?
There are other things I could add to this list, but it’s a great place to get started.
Are you missing any, or could you add some more?
Neil Stafford – The Internet Marketing Review is the UK’s longest running PRINTED Internet Marketing Newsletter. ‘Test drive’ it for FREE – Visit this special web page for more information: http://www.InternetMarketingReview.com/sya