Congratulations! At last, after several attempts to put up your own business, you have finally made it. You have a respectable list of regular customers and slowly, you are reaping the fruit of your labour. Now you think it is time for you to lay back and rest on your laurels? Not so fast, my friend.
In this life, but especially in the world of business, nothing stands still—either you are propelled forward, or you are carried backward in the ever flowing current of progress. You should strive to make your business stay afloat or it sinks.
Now that your business is starting to bring in some money, to remain complacent at this stage may spell disaster unless you can attract more income flowing in. Do not fall into the common myth that to grow your business, you must have plenty of money.
Did you know that making more money does not necessarily mean spending more money? The following pointers will help you how:
Two heads (or more) are better than one.
This saying applies in running a business as well. However, remember, too, that “too many cooks spoil the broth” so be selective in getting a mentor. Make sure that your guru practices what he teaches. This can be gleaned from the result of his own productivity. A bankrupted businessman will not be a believable teacher on “how to be a successful entrepreneur”. Get mentors who are successful businessmen themselves. You may find them among your friends, or associates in the internet, or authors like Erlend Bakke, author of the book “Never Work Again”. Never get tired of seeking knowledge from those who have done what you hope to achieve.
Analyze your business strategies. Study which are bringing in results and which ones are just time and money wasters. Try to think outside the four walls that box you in — go over or under them to find new solutions or strategies. Do not be too over cautious. Experiment and take calculated risks. Get out of your comfort zone. Be a creative problem solver.
Plan your work and work your plan. Have a goal and come up with a detailed plan on how to attain it. Draw a plan of actions, set deadlines, assign qualified assistants, etc. However, always make some rooms for adjustments and modifications when necessary. Be open to suggestions from reliable mentors or associates. Be flexible when certain circumstances require you to be so. By being adaptable, you may be able to attain your goal and prevent burning out.
Be patient. As the saying goes: “Good things await those who wait”. Rome was not built in a day, and so is success. Anticipate some rough spots and obstacles along the way but do not be cowed by them. Consider them as guide posts on the road towards your goal. Patience and perseverance are important tools in the achievement of success.
Take good care of money and money will take good care of you. Spend prudently. Be aware of the cash flow without sacrificing quality of your product or service. Consider outsourcing some tasks which can be done at less cost and more efficiently by virtual assistants. You may contact companies who can offer their advice and services for your requirements in this aspect, like Mr. Outsource.
Develop the right mindset. Condition your mind to success. The mind is a very powerful tool to help you achieve what you set out to achieve. Always find the motivation to succeed. Whenever you face some self-doubt regarding your capability, look back at your previous accomplishments like the fact you are able to put up your own business now. In short, never stop believing in yourself.