How do I have a successful business? The more important question is: What business should I get into? In owning your own business, starting up your own business and eventually running your own business the answers to these questions are critical to your success. The business success puzzle has many pieces. Let's get into it.
Most of us get bombarded with opportunities. You may have just received another e-mail telling you that with a little work you can get involved in a product or service that will bring you thousands of dollars per week and the lifestyle you desire. Or you just read an ad that makes you want to leave your current vocation immediately for the vision of more money and a better life.
Ultimately, the opportunity for more money and a better life is what drives all these promotions. And, I endorse the vision they are promoting. The next words are extremely important. But, I do not necessarily endorse the business opportunity.
Here's the rub. With all the information we have available today along with all the assistance and support you could ever wish to have guess what has happened to the failure rate of small business. It hasn't changed. Depending on whose statistics you want to believe 90% of all small business startups will be gone by 7 years. And, if you have employees your chances of succeeding beyond two years is only 10%.
What's behind the high mortality rate for small business? Is it not having a performance strategy? Are you lacking a marketing business plan? Is it lack of education about your market or industry? You could have all of these in place along with other systems and still fail. What's going on?
All of these things are good and in some cases necessary. But, if you get into a business that does not honor "WHO" you are, you greatly increase the odds of failing. Is the business you are starting going to emphasize your gifts and talents? Or, is it going to require you to learn new skills and disciplines to overcome your weaknesses. The key piece to the business success puzzle is to be in a business that allows your gifts and strengths to be on display.
Learning new skills and disciplines is good. When learning these consume a majority of your time that is not good. And, if you are continually involved in things that do not bring you joy and satisfaction then the chances of burnout and failure are high.
The key is to select a business that caters to your strengths. Then you must start to design the business around you. When you do this you are much more likely to grow and be successful. Why? Because you will truly enjoy what you are doing and your enthusiasm level to get things done and to move forward will be high.
Along the way you will develop some new skills and disciplines and that is good. But, the goal in the end is to get you to a point where you are standing back from your business and working on it as opposed to always working in it. If you set yourself up to where you have to deal with things you don't enjoy you are much more likely to fail.
If your business is not enjoyable then you are being told something. You are being told that it is time to grow. First, you have to grow yourself and your thinking. After all, if your thinking doesn't get bigger than the challenge then the challenge will remain.
It is important to pick a business that you really like. When you do your enthusiasm and passion for what you do and how you do it will allow you to grow as a person. As you grow as a person your business will grow. After all, income and lifestyle seldom exceed personal development.
Yes, you can have that life of greater freedom and abundance. But, the key is pick your business wisely. Select a business that allows you to showcase your talents.
This is the most important piece of the business success puzzle. When you do, you are putting the odds of having your small business successful in your favor. And, you are creating your pathways for realizing your dreams and the success you desire.
About the Author:
Steve Scott is a business design and development coach who collaborates with and supports business owners and professionals who are committed to having more from their businesses and lives. http://www.stevescottcoaching.com