Becoming a business owner is simple: start a business. However, becoming a successful business owner is more difficult. I’ve invested decades into becoming a trusted business advice source and honing my entrepreneurial skills. Here are 4 things I think every new business owner must incorporate into their entrepreneurial process.
Relationships in Business
Healthy business and personal relationships matter a lot. Without them it would be nearly impossible to become a business owner. Yes, your personal relationships are foundational to your success! a significant other or confidant that can listen to you especially when the inevitable frustrations hit will further assure your odds of success. Of course, success is an individual definition. Only using monetary success is pretty shallow.
Obviously, having contacts or people in your chosen field of interest who would buy from you is a very helpful starting point. Building relationships with clients is appreciated on both sides of that equation.
Creating “stickiness” is a nice byproduct of caring about your clients. If your business is only transactional (you sell once and move on), it will be a bigger challenge to build sticky relationships. Why should people come back to you? If they know you care, if they trust you, if you have a good working relationship, they do have a reason to return.
Expertise is more than brain power and intelligence. Many brilliant people lack the quickness to make decisions with highly abbreviated information. See www.kolbe.com for fascinating details on these types of human behavior.
Expertise in my opinion is acquired over a life time. Book learning is helpful, though not critical. Some have a greater bent to acquire knowledge from reading, some learn on the job, but expertise begins with experience which can only come when you put the time in and do the work.
A clear vision of where you want to take your business in the next three to five years is vital. I observe so many business owners living day to day, without a long term business strategy. They allow events to control them.
If I do not know where I am going, how will I know when I get there?
The reality of life is we will pick up some garbage or move boulders to clear the path toward our mountaintop vision of where we are going. If you allow stuff to upset and distract you, that may be an early warning sign the unpredictability of being an entrepreneur may be the wrong decision for you. You’ll probably be happier seeking a different career choice.
It is my belief that it is something deep inside that drives a person to become an entrepreneur. The origins of entrepreneurship are almost in their DNA. Why else would anyone make the decision to seek their rewards as an entrepreneur?
It takes courage and determination to make the leap of faith to create a business and work for yourself.
In my book American Fathers, the hero Sasha sacrifices immediate comforts for a future he believes can be achieved. He continues to make decisions throughout the journey of the book that require a belief in self-courage. Taking from what he observed from his emotional father, (Yusup) and insights shared by his biological father Victor, Sasha moves forward toward his vision.
It is only through using focus, courage, and relationships that Sasha is able to gather expertise and grow his successful business.
Are you willing to pay the price Sasha paid to become a entrepreneur?
-Ron Schutz Author