Keys To A Successful Business

Keys To A Successful Business

Keys To A Successful Business

·     Keys To A Successful Business

How to become a success in business has nothing to do with what color you are, but the inbuilt structure of the mind and vision you carry. It has nothing to do with who your parents are or what background you are relegated to by others. In fact, I can say a business person is a dreamer and a doer.

A business person is someone who picks a vision and run along with it, in achieving results. Jesus Christ is a person of a serious business man. Because He understood what it means to have lay down structure to complete any purpose. No wonder He said in Luke 14:28.

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“28 For which of you, wishing to build a farm building, does not first sit down and calculate the cost [to see] whether he has sufficient means to finish it?

29 Otherwise, when he has laid the foundation and is unable to complete [the building], all who see it will begin to mock and jeer at him…” Luke 14:28-29 (Amplified Bible).

When people start out in business, they are sometimes so excited about what they are going to achieve, that they forget, to sit down and gain proper understanding. Because wisdom need understand for things to work smoothly. So, today I’ll take you along on what it takes to on how to become a success in Business.

1. Always “Calculate” The Cost First

“first sit down and calculate the cost (to see) whether you have sufficient means to finish it.” On a visit to a friend house, I was opportune to see some big structure in Abuja, Nigeria. My attention was caught by the number of people, who have embarked on huge housing projects, that they were struggling to finish. You are left wondering why they did not go for something smaller, that they could finish.

Sadly, people who are in the same situation with their business projects. When people start out in business, they are sometimes so excited about what they are going to achieve, that they forget to sit down and “CALCULATE the cost”. Sustainable success in business, or even in a social enterprise, is as much about managing, your costs, as it is about generating sales or revenue.

Now, you might say, what if something happens, that I did not anticipate. Maybe, it was beyond my control…

Cost goes beyond what it initially costs, to set up the business; to run it profitably; ensure renewal and growth, and sustainably… But you must also look at the cost on things like the environment, public safety, and the health of others.

Calculating cost is all about managing a dynamic cost environment. Now you are in business. Go prosper.

Also check:3 Reasons To Count Cost In Life Career, And Business

2. Be A Quick Follower

As an entrepreneur or an entrepreneurial business, there is nothing better, than creating a new product or service, that no one has ever seen before, and turning it into a blockbuster commercial success.

There is however another path to success, and this is called, the “fast follower”:
There are a lot of organizations who are successful, through the ability to see what others have done, and then moving quickly to do the same thing; this is the “fast follower”.

If you look at great companies like Microsoft or Apple, they are not necessarily the first to come up with a new idea. They are “fast followers”; if they see someone doing something, that has potential, they either buy it or build something similar; only they do it better.
The Chinese are masters of the “fast follower” model: When they see something in the West, like Yahoo, Facebook, Uber, Google, their entrepreneurs quickly follow, to build their own.

A Fast Follower, never allows a competitor to settle in, on a new innovation without a response. So, next time you see a new product or service, in another market, don’t just admire:

Be a “fast follower”.

Also check: 5 Tips For Effective Business Promotions In Nigeria

3. Learn how things works being a fast follower

The key to being a “fast follower”, is being able to see what some others may not “. Most people find it very difficult, to see “learn”.

You have to keep asking yourself:

“How does this really work?”
“What is the business model?”
“How do they really make money?”

The Fast Follower, does not copy, they look at something very carefully, and then try to reimagine it.

-“How can we make this better?”
– “how do we use this, in our own context?”

Steve Jobs, did not invent the cell phone, in coming up with the iPhone. He took something that had been there, for nearly 20 years, and completely re-imagined it, to come up with the iPhone. In Fact, Steve Jobs was the “master” Fast Follower:

He did not invent anything new. He innovated around ideas that had been there all along. The same could be said, about much of what Bill Gates did.

A Fast Follower knows that if you simply copy something, you have not understood it. When a Fast Follower gets hold of something, they “re-imagine” it into something new. Understanding the concept of being a Fast Follower opens up an incredible world for you and your business.

Today, I truly believe these tips are helpful to your business. And don’t forget to share with others. Keep visiting Hkitnob and above all. Aim to become a success in business.