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Many people start out with the intention of setting up a business to make it a success. There may be a variety of reasons for starting a new business – making some money might be one, but there are other reasons as well such as the challenge, the desire to take responsibility and control of your own future and so on. Perhaps the primary reason why people don’t start businesses is because they’re afraid that they’re going to lose their money and for good reason. 99 percent of businesses started by people absent business experience fail within the first two or three years. It’s because they don’t know how to succeed. They haven’t the least idea how to make a business successful. They may have an idea for a product or service, but they don’t know all the things that they need to know to run a successful business. There are certain tips to learn about business success. Develop inner network: Entrepreneurs practicing the art of business success know the power of networks. They take the time to identify and build relationships with key peers, mentors, and advisors. This inner network provides support, direction, and an increased number of people to support. Be bendable accept with hub value: It’s a given that your plans and strategies will change as time goes on. This flexibility for rapid change is an inherent advantage of small over large business. However, no matter the pressure for immediate profits, do not compromise on core values. Humble honesty: Business success requires the ability to know your strengths and weaknesses. Being open and honest about yourself and your business creates growth as an individual and as a company. Don’t spend time developing weaknesses. Find help for weak areas, enabling you to focus on strengths. Make timely decisions: It’s okay to use your intuition. Planning and thought are good. But procrastination leads to missed opportunity. Adaptability: Business success requires the ability to adapt to changing situations. Nothing ever goes as planned. The world of business is full of surprises and unpredicted events. Using the habit of adaptability allows business owners to respond to conditions with the ability to change course and act without complete information. Believe: You need to believe in yourself, in your company, and that you will be successful. This confidence is contagious with your employees, customers, stakeholders, suppliers and everyone you deal with. Finding a better way: Productivity is the foundation of business success. Formulate the habit of finding a better way to make your business more productive. This will create more time to focus on the critical issues that drive sales and profit. Productivity can be enhanced by technology, automation, outsourcing, and improving business processes.
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