Business success. Business failure. Why do some people succeed in business – and why do some people fail in business? As a CEO, president or business owner, those are questions you should be asking yourself so you are included in the positive rather than negative statistics.
Some of it has to do with luck and destiny. Being at the right place at the right time. Selling the right product or having the right sales pitch. But usually, it has to do with hard work, grit, focus, mindset and preparation. Or as I often refer to:
- Will – drive – determination.
- Right place at the right time.
Owning, operating and managing your business takes up a great amount of your time each day/each week. Yet the revenue brought in from your business also gives you the lifestyle you want. If you were to go online to Amazon and browse through the business book category (or to Barnes & Noble; even the local public library), you would find so many books written about business that you could never read all in one lifetime. You would also not find a book written about how to fail in business. People want to succeed in business; not fail. Though failure happens every day in the business world. Just don’t let it be YOU!
What’s interesting about failing is you need to know why a particular person or company failed so you can continue to succeed in business and prosper. That’s one of the ways we learn what to do and NOT to do in business. You need to be a business person; a student of business. It requires being committed to understanding what it takes to stay in business.
Commitment to your business includes:
- Understanding exactly what needs to be done
- Keeping pace with the marketplace or industry you are in
- Knowing what your customers and potential customers want/need
- Knowing how to attract and keep the best employees
- Delivering the right message at the exact right time
- Always learning how to be smarter, quicker than the competition
- Making certain the company is profitable and growing.
Business is complicated; but also, business is not all that complicated. For example, let’s use the example of going to a Billy Joel concert. It is well known in the music industry that Billy Joel concerts are consistently one of the best shows to attend year after year. Disclaimer: I am a long time Billy Joel fan. But rather than go to a Billy Joel concert, your friends purchase tickets for the ballet. You may be okay with the ballet but you weren’t thinking about ballet. You were thinking about Billy Joel and a great evening of music. You were thinking about Billy playing all his classic songs as your body moves with the music and brings back the good memories every time you hear those songs. You are disappointed because it wasn’t the right tickets to the right concert on that particular evening.
Business is somewhat the same way. You need to understand what theatrical production you’re in.
- It is the business of your life.
- It is the business of business.
- It is the business of what your customers need and want.
- It is about making a better life for everyone – your customers, your employees and YOU.
The problem with this is most CEOs, presidents and business owners don’t spend enough or even any significant time thinking about success. Instead, they spend time doing “stuff”. They spend time just making their way through the day and just doing tasks. You need to do more than just “stuff” and tasks. You need to think about your business every day.
To succeed in business, you also need to pay your employees well to recruit and retain them. It’s just one more reason why it’s important to start thinking about business and sales opportunities in a strategic way.
Always remember this sales basic formula:
- Prospect
- Present
- Close the sale
- Repeat – one customer at a time
It doesn’t matter what you sold yesterday or the day before. It only matters what you sell TODAY. Without sales, you haven’t a long term business.
It’s about having the right message at the right time to the right person. As a business leader, you need to be a people person. Without people, there isn’t any business.
You need to communicate with your employees and business associates. Get them on board with your vision for the business by developing a work culture that supports the company’s mission.
Remember:
You are in charge. You are the make-it or break-it person.
- What are you going to do to succeed in business?
- Are you a student of your business?
- Are you the leader of your business?
- Are you going to be saying to yourself:
This is my strength and I’m going to focus where I am strong. This is where I need improvement and acknowledge I need to seek out other people who can be strong where I am weak or less knowledgeable in the business. This will bring more balance to the company. This is how I will continue to succeed in business.
Become a business person; not just someone who says they are a business person.
- Why do people succeed in business? What do people fail in business?
Answer:
Because it’s completely up to the individual. That’s YOU!
You set the tone.
You can decide to do whatever it takes to succeed in business – or you can set yourself up to fail.
I’ve heard varying numbers but there are over 350 million people in the United States. All of those people use goods and services. Many could potentially be your customers or clients.
- How are you going to reach these potential customers?
- How will you better understand who your customer is?
- How are you going to let them know your business exists?
To succeed in business, it’s all about you – and what you think and do each day.
You are the leader.
Remember:
Leaders lead.
CEOs, presidents and business owners who succeed in business have a vision.
Business success is yours. Reach out and take it every day. Don’t be the person you were yesterday. Don’t just be the person you are today. Think about who you are going to be tomorrow.
- Have a business plan.
- Execute the business plan.
- Work hard but smart.
- Don’t give up on yourself no matter how tough the business conditions.
- Be confident.
- Find bold new ways to do business that fit with your company’s core goals and objectives.
- Find a way to win business and customers.
For many businesses in today’s highly competitive, fast moving economic times, it may feel like its the last two minutes of a football game.
Will your team win or lose?
This is not the time for any business person to think about losing. This is the time to get your business game plan together. Be determined to win. Make it happen. It’s your game now.
My hometown is Pittsburgh, PA. As they say in the ‘burgh:
Let’s get it done!
Be in ACTION!
To your success!
Business expert and strategist, Howard Lewinter, guides – focuses – advises CEOs, presidents and business owners throughout the United States across a wide range of industries, to MORE success – MORE profit – less stress. Business people trust Howard’s vast business knowledge, practical advice, intuitive insight and objective perspective to solve business problems and issues. Get MORE from your business! Talk business with Howard: 888-738-1855.
Connect with Howard on LinkedIn.
Follow Howard on Twitter.