You often hear people emphasize that going into business guarantees financial freedom and how the richest people in the world are all businessmen and women but those same people fail to tell you how difficult it could be to make something out of business. Statistics have shown that most businesses fail within 5-10 years of incorporation, so starting, let alone, growing a business is not as simple as they make it seem.
This is not to discourage you, however, there are indeed businesses that actually thrive. That idea you have in the cradle of your mind or what you’ve already started could be one of them. To join the relatively few entrepreneurs who keep their business heads above water and continuously hitting milestones, here are some tips you will find useful.
Focus on the customer experience
If there is anything worth doing with all your strength, creativity and skill, it is giving your customers an experience they’ve never had before. You may be selling a product that a thousand other companies have in their line up but by creating a wonderful experience people come back to you…along with their friends.
Make it a company philosophy. Get everyone to be on the same page with you. When every department understands that it is indeed all about giving customers an ultimate experience than merely selling a product, the attitude to work will change and so would people’s response to your offerings.
Treat failures as successes
Okay, that sounds confusing but here’s the point: Mistakes are bound to happen, goals sometimes won’t be met, and clients may get disappointed. When any of these things happen what you do next determines when your company begins to set sail for the deep sea or not. Ever failure should be an opportunity to learn and improve. When a similar situation occurs you’ll be in a better position to get things done right. So when things aren’t working as planned don’t be the boss that lashes out on everybody without highlighting what could be done better next time.
Fortify your walls
Think of the business terrain as a fierce war front, where only the fittest and smartest survive. One effective way to ensure that you remain in business through the thick and thin of it all is by insuring your business. It takes just one bad decision or one unexpected accident to ruin your business for good, but that doesn’t have to be your story. Fortify your walls now so that when the rainy day comes you would have nothing to worry about.
Plan to keep growing
If you think Mark Zuckerberg and other owners of highly performing companies in the world have run out of plans to go the extra mile, think again. They’re just getting started. Wherever you are right now and no matter what little achievements you have, plan to continue growing and being relevant. Never stop planning for future growth.
Still come up with great ideas, business goals that will announce your work, and devise how to get there. This mentality will keep you on the right track to greatness.
The odds may be against you considering what statistics say about the rate at which businesses fail, but yours can be different. Think different. Be customer-focused. Get insured. Plan ahead, and there’s no stopping your growth.