DO YOU WISH TO START A BUSINESS?

They say that entrepreneur has to be borne. But Industrial history spells something different. Any person who has ambition, who is ready to slog, ready to take risks, knows how to handle people, and has successful business ideas can be an excellent entrepreneur, a successful business person.

When can you say that you have a successful business?

A very important factor of a successful business is financial rewards. One should get substantial returns on investment as profits. But besides this, the following aspects are also worth considering:

Self- satisfaction:

For any entrepreneur or business person, a big satisfaction comes from the process of creation. You dared to venture with just an idea and now it has got its shape and fame. There is a proud moment in your life when you see your name on the company. You must have faced challenging moments and built your business. You recognized your strengths and skills and willpower. This is a great personal achievement.

Financial gains:

A successful business person earns substantial returns on the investment. To start a business the person might have borrowed money from relatives, friends, and financial institutes. When these stakeholders observe that their money is being repaid with proper interest, they are also happy and appreciate the business person’s efforts.

Social responsibility: Any successful business fulfils its social responsibilities. Few have prior goals for this reason. There are many avenues to serve society. There are many charitable institutes through which you can render your services. This gives a business person mental satisfaction.

Customer satisfaction:

Successful business ideas not only satisfy customers but they delight them. The delighted customers motivate the business person to produce better products or serve the customers in a better way. On many occasions, appreciation from delighted customers is much more important than financial gains.

Employee satisfaction:

Most of the successful business persons give utmost importance to their employee’s satisfaction. They celebrate their 10th or more years of association with their employees. It turns out to be a cohesive group. Many times a lovable large family is formed.

How can you make your business successful?

You have to be a good planner with a reasonable amount of flexibility and great organizational skills. The following tips may be useful in this regards:

Write your business plan: You should write down your objectives, strategies, financial requirements and how you intend to meet them, production/servicing capacity, and your marketing plan.

Be organized: To meet your estimated success, you have to be organized. This will help you and your company to meet delivery dates as per your promise, which in return will build confidence in your customers.

Maintain records: Proper and timely records will serve as a mirror. They will ascertain your standing in the market.

Stay focused: You have to focus your business solely. This is a 24*7 job. You are an owner and you are an employee of your business. Till you build a strong team, you have to work hard and set an example for your employees.

Watch your competitors: Study your competition and learn from your competitors. Find out their drawbacks and try to cash on them. Develop their good points.

Be persistent and be consistent: This is a key factor of a successful business. This will transform you into a better person.

A successful business does not ask about your gender. It does not bother about your age. Youth is when men and women are anxious to accept the challenges to secure their futures. Young women at work produce better results. They are quality-minded. They are not to be neglected. They emerge as great leaders if given the right and equal opportunities.

The fact is that the future of any successful business demands the inclusion of all genders. Young women at work with their high emotional intelligence are giving a tough competition to the men. Corporate culture is welcoming such young women and it’s a work culture to nurture and live by.