1. ENVISION YOUR DREAM
Think it… envision exactly what you want to achieve, then write it down! The planning part is critical to having a successful business. I could go into a lot of detail in this area, because there’s a lot that goes into a business plan. Query business plans on the internet and you’ll get a list of the items you need to cover. If you have an existing business it’s imperative to update your business plan periodically! Or the situation may be that you’re buying an existing business, either way you need a concise plan of action. Always have your goals in writing, along with your action plan, and a timeline.
2. WANT IT MORE THAN THE OTHER GUY
Albert Einstein said, “You have to learn the rules of the game. And then you have to play better than anyone else”. A brilliant quote from Calvin Coolidge is, “Nothing in this world can take the place of persistence.” Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan “press on” has solved and always will solve the problems of the human race”. No one can say it better than these fine men of our past. As, it’s not how many times you get knocked down, but how many times you get back up that counts.
3. SEEK HELP
I watched a recent speaker on an internet webinar state the three most important words in the English language (other than I love you) are I need help. I found that rather interesting, as it’s so true. Everyone needs help at some point, I don’t care who you are! Without help it’s like you’re running on a human hamster wheel. Don’t hesitate to seek mentors and advisors. Learn as much as you can.
Find your mentors in successful entrepreneurs and advisors at your financial institutions. Let them lead you down a path following in the steps of others that created success. In addition, there are several non-profit entities set-up to assist you without a fee, such as; SCORE and Del Mar’s Small Business Administration.
4. OUTSOURCE NON-REVENUE GENERATING DUTIES
It’s an excellent idea to outsource all your human resource administrative duties to professional employer organizations. This is a valuable way to save time, better protect your assets, and keep the cost of having employees predictable. Everyone that owns a business should look at this option. Visit the website for the National Association of Professional Employer Organizations to verify PEO credentials. Then, ensure you’re working with attorneys and CPA’s that are the best in their field and dependable, without exorbitant rates. Remember you’ve got to be able to rely on your partners with the life of your business.
5. DON’T CONFUSE NARCISSISTIC GREED WITH PROPSPERITY
When we focus totally on ourselves that’s when we can get bogged down with doom and despair… businesses suffer due to lack of planning. When we formulate our business plan and know that this is THE PLAN, then we’re on a mission. And, that’s when we do our best work.
Many entrepreneurs spend every minute trying to accumulate wealth, while this strong determination may be exactly what it takes to be successful, don’t let yourself get carried away. Narcissistic greed is when your desire for notoriety and supremacy over others runs your life. If you don’t care who you have to destroy to gain in your own personal wealth – that’s narcissistic greed. Our community will thrive with pro-active business leaders and that’s what the Coastal Bend needs.
6. BE THE BEST AT IT
Your integrity, your product, your service is paramount to your continued success. Study market trends, know your customers, and network your way to the top. Keep in mind that without a plan to ensure all bases are covered you might be in for a real ride, and your services might suffer when cut-backs occur.
7. SO NOW YOU’RE A SUCCESS
It’s time to pay it forward. It’s time to write a new plan of action and this one includes the ways you’ll use your resources to make a positive difference in our community.
