Build Long-Lasting Business Success
If you are reading this, you must manifest entrepreneurship. It gives you a different high. The long work hours, late-night brainstorming sessions, no steady paychecks, the toll on your mental and physical health, the financial crisis and not so smooth going relationships, are some of the very few sacrifices that you need to make on your way ahead. But a true entrepreneur never finds it too high. The adrenaline-rush with the profits compensates.
Whilst the rush to ensure long-term success, we often forget some basics. The reason why we have enlisted a few key areas which you must be keen to cope up with if you want to make a mark and prove your existence.
Timing is everything
No matter how much people say, entrepreneurship is not about overnight success. In this world, you will find individuals bragging about how quick they were – DON’T FALL FOR IT. It is not a battleground, where you spot your enemies and fire. It is a process and believe me, there’s a light at the end of the tunnel. Keep your research very strong and your plan-ahead crystal clear, before taking any further steps. Spot the time when there’s a dearth of solution providers like you and show up! Remember, even your masterstrokes can fall apart if your timing is not correct. Time your moves to ultimate perfection.
Stay one step ahead of the industry
You must have heard about this in the past, but still, people tend to be complacent and resultantly fail to keep-up. I am asking you to be JUST one step ahead of your carved niche. Not two, not three, but just one. And if you think, the farther the distance the better it is, it is not. You are distancing your eyes from the target, which will certainly not play in your favour. Avoid being generic but don’t forget the general stuff. While it’s necessary to keep pushing your business up the ladder, it is also important to maintain the history of all the milestones you have achieved so far. They not only work as a motivation but also give you some great insights from the past that will direct your next step in the industry. Archive your website and take advantage of it for your long-term success.
Always stay on the right side of the law
I know what you are thinking – ‘Well, that need not need a mention, I am anyway never going to break the law’. But, trust me, it can get really tempting sometimes. Most of us fall for it, go with the flow and then regret in life. The majority of us would never even think of breaking laws in life, let alone in the business world, but when your reward is overnight growth, mint money faster, clear out debts, we all tend to reconsider. It is not just restricted to frauds and embezzlement, but also inhumane behaviour like salaries below industry standard, long work hours, failing to comply with health standards are considered against law. Any of the above-mentioned behaviour can cost you millions. Not to forget, there have also been cases where people have been put behind not complying with what the law says. The company’s reputation that is jeopardized after this crisis is never entirely restored – after all, none of us have forgotten the trust breach by our favourite snack-noodles, Maggi.
Mental health must be on your priority lists
Entrepreneurship isn’t easy, and it can sometimes take a toll on your health – both physically and mentally. But it is our job to keep things under control. You will find a lot of studies, online, claiming that people ailing with heart diseases, collapsing or even hallucinating because of stress and long working hours. Thus, you need to know when it’s time for you to draw a line. If you are not taking care of your mental health, things will slowly get uncontrollable. Anxiety, stress, depression and life-taking physical diseases will start to roll onto you before you even realize. So the second you put your health, second on your list – you know what’s at stake! Know more about this here.
Be humble, irrespective of the heights
Relationships are the roots of any business. It might be with the staff, colleagues, board of directors, trustees or even with the competitors. You need to learn to value every relationship. Yes, you have achieved results in the past, but that does not justify being cocky and rude. There are enough failure stories that were led by overconfidence. You certainly don’t want to be one of them.
To all the budding entrepreneurs, if you follow these quick tips, I am sure it will take you farther ahead on the road of success.