Tips for a Successful Business
Creativity brings disruption. Disruption brings opportunity.
1. Have a Clear Vision
If you don't have a vision you will drift around and end up nowhere. Like putting the best captain in the best ship but with no destination.
2. Think Inside-Out the Golden Circle
Simon Sinek has proposed an elegant virtualized codification. he calls it the Golden Circle.
Every organization and company knows what they do and how they do it but only a few know exactly why they do it. By "why" Simon doesn't mean making a profit. He means the purpose, the promise, the vision.
Inspired companies and leaders think inside-out. Now here comes a good example that Simon mentions. That is how Apple does marketing. Apple starts from inside. They say:
- We believe in thinking differently. (answering the why question)
- The way we do it is by designing user-friendly products. (how)
- Which happens to make great computers. (what)
The goal is not to do business with everybody who needs what you have. The goal is to do business with people who believe what you believe. (Simon Sinek)
3. Fall forward
I heard from Denzel Washington that if you fall forward instead of backward, you can see what you are gonna hit. Fall forward towards success.
Many of life’s failures are people who did not realize how close they were to success when they gave up. (Thomas Edison)
4. know the Game
- Identify the entry points of your market and develop a strategy.
- Identify your global and local competitors accordingly
- Get information about your competitors as much as possible. Learn the story behind their success and failures. Learn what they have and not have tried. Get the opinions of their customers.
- Evaluate risks, challenges, and opportunities
- Have an exit plan
5. Be Different
- Innovation is better than replication.
- Your difference from others is your strongest marketing tool.
- Tell your audience the benefits not the features of your product or service.
6. Know Your Business
I heard in a video from a successful businessman that even if somebody wakes him up in the middle of the night, he can explain his business in detail. Be sure of the quality in different locations of your company.
7. Shape the Life
Steve Jobs said don’t accept the world the way it is. He said you can poke life and something will pop out.
Sawubona is a Zulu greeting that means I see you — I’m with you — I hear you. See and hear your employees and customers.
One unsatisfied customer can cost you millions or even billions of dollars especially in this digital age. A must-know example is The music video United Breaks Guitars which was made by an unsatisfied customer who is a musician. The video also hit the news.
9. The First Principle Thinking
First principle thinking means questioning already known assumptions which may lead to creating new knowledge and solutions. Think out of the box. Don’t trust in the absolute correctness and efficiency of even fundamentals.
10. Simply Ask
Ask for advice from successful people you admire. No matter who he is. Don't be afraid of being let down.
Ask the opinions of your customers and employees.
Besides educating yourself, you also have to educate your employees and customers. Education can’t be done to people; it can be done with them.
12. Stay Fresh
Don’t lose momentum after reaching success. Keep innovating. Adopt new changes. Be ready for disruption and competition. Elon Musk didn’t stop growing after his first success. He kept hitting new targets.
13. Do Not Listen To Naysayers
Everything is impossible until someone does it. (Nelson Mandela)
14. Smile (last but not least)
Thanks for reading. I write on money, success, healthy lifestyle, personal finance, and business.