12 tips to know how to make a successful business8 min read
Creating a business is the desire of many entrepreneurs, but in many cases, this desire is only an illusion because the entrepreneur fails to organize their ideas and resources to materialize their dreams. This blog was born precisely as an aid to these passionate entrepreneurs who only need a “little push” to start their business. This seems to be any post, and really it would be if it were not our 1000th post. It will teach you how to make a successful business. That’s right, there are already 1000 publications in Business and Entrepreneurship and for that reason, I wanted to develop a special with the best resources and tools published throughout of this time.
Guide to start your own business successfully
Steps to create a successful business
The entrepreneurial process is divided into 3 basic stages: planning, initiation, and development. Within these 3 stages, we find a series of key moments that mark the success or failure of a business. This post is a compilation of articles and tools to implement in each of these moments in order to increase the chances of success when undertaking, but it is not a guide of the type “get rich overnight”, all otherwise, here you will find each of the steps you must take to create a successful business as long as you are willing to work with passion, patience, and perseverance.
How to make a successful business
1. Finding the motivation
Create a Successful Business
This moment is known as the zero stage of entrepreneurship. Here everything starts, no business will be successful without a good reason to start and continue with it. First of all, you have to know how to make a successful business. There are several reasons why a person makes the decision to undertake: Need for change, passion, desire to excel are some of them. A big mistake is to pretend to start our business guided only by ambition. Most successful entrepreneurs do not see money as their main goal, do you find it curious? Even if it seems strange, there are few (if any) large companies that were born with the goal of making millionaires to their owners. Experts recommend to see beyond the money and find motivations that keep you in the fight even if your business is in crisis and its profitability is affected. Keep reading http://sookiesookieboutique.com/reviews/benefits-of-social-media-for-your-business/
2. Putting together your entrepreneurial team
You can undertake alone, but believe me, you can achieve much more if you join other people equally passionate to you. Find people with complementary profiles to yours, you will see that when the dreams of several people come together great things are achieved. Steve Jobs, Bill Gates, Mark Zuckerberg and many other great entrepreneurs in history had the unconditional support of other entrepreneurs who were there giving them inspiration and motivation in difficult times, contributing their ideas and putting all of themselves to change the world. Do not be afraid to share your ideas and projects, we are in an era where ideas are everywhere and what is needed is teams of entrepreneurs willing to materialize those ideas. Attend events to share and interact with other people and do not hesitate to join your team to anyone whose ideas and skills can contribute to the development of your project.
3. Selecting the business idea, how to make a successful business
The next step is to choose the famous “business idea” and here there are different approaches; For some authors, business ideas must be innovative, while others recommend “do not try to reinvent the wheel” but seek new uses or ways to make it more efficient. How to make a successful business. Most entrepreneurs stay in search of a perfect business idea when in reality ideas are neither good nor bad, they are only ideas and the person in charge of making it profitable is the entrepreneur. We are not all inventors, so my recommendation is to find an idea according to your profile. If you are a fan of innovative products and you are good at developing inventions, do not think about it anymore, you must create a business based on innovation. On the contrary, simple ideas can also be successful, especially when their manager points to the right niche markets and develops better strategies than their competitors.
4. Designing your business model
Business Model Canvas
In the previous step we have defined what we are going to do, now we must define how we are going to do it. When designing our business model we will identify the key elements of our project so we can focus on them and develop interesting value propositions. Without a defined model it is very easy to lose focus and waste our energies and resources in processes that do not really contribute to the development of the business.
5. Planning your business
A business plan is a tool to evaluate opportunities and define their viability, in addition, it becomes a “security mechanism” to minimize risks when undertaking. Remember that there are two sure ways to fail: one is to do things without thinking about them and the other is to think things without doing them. In this stage, these two errors are usually committed. On the one hand, there are those who start without a plan and on the other, there are those who plan too much and never start.
6. Designing the image and corporate identity
The difference between successful businesses and what is simply “one more business” is differentiation in the market, and this differentiation is achieved through a series of elements such as logo, slogan, name, mission, vision, principles, value proposition, etc. How to make a successful business. Many of these elements become important assets for a company, so you must give a unique touch to your business, this way you will achieve that the client reminds you and prefers you over any competition. The user experience is also part of the image that a client has regarding a company or a product, and the experience includes everything from the characteristics of your product or service to the way in which it reaches the end customer. Worry about providing a positive and unique experience.
7. Getting the money to start
Finance a new Company or Business
For this point, you must be perfectly clear about all aspects of your project, and if you do not have them, I recommend that you return to point 4 and 5 or you could run the risk of poor financial planning. There are several sources of financing for entrepreneurs, each has its pros and cons, but money should never be an obstacle to start your business. There are those who have enough capital to start, but others must go out in search of financing and that is where a good business plan becomes important. Nobody will give you money like that because, yes, even government entities and support programs expect your project to be convincing enough.
8. It’s time to jump into the ring
From entrepreneurship to business
It’s time to start once and for all, you already have everything you need and if you give a lot of thought to the matter you will only waste valuable time. If you feel that some detail is incomplete, do not worry, start and on the fly, you will correct faults. This stage is the great “test of fire” for the entrepreneur, is the time when you must test all your capabilities and show that you are really willing to give everything to make your dreams a reality. Here you will face your biggest fears, the uncertainty will chase you, you will have looks over you waiting for you to slip, you will receive criticism and messages of demotivation, but remember that you started to undertake something more than money. Your mission as an entrepreneur is to change the world, create opportunities and inspire others. Never forget!
9. Promoting your business
You already have your business, now you must make it known everywhere. Social Networks, Internet, Diaries, Radio, Television and many other channels will serve to attract customers and start gaining ground in the market. At first, your marketing budget may be small, so you must use creativity and planning to develop low-cost, impactful strategies. How to make a successful business. There are many cases of companies that achieved a great diffusion thanks to advertising campaigns with a high level of creativity. It is curious to see businesses that expect to grow without investing a single peso, remember that the marketing function is to boost sales and increase the customers of a business. To the extent that you invest time and money in this area, it will also be the growth of your business.
10. Managing, systematizing processes and delegating work
Keys to Manage a company
The way you manage your new business depends on the future success of it. A company can be very profitable and innovative, but if it is mismanaged its fate will be a failure. Do not pretend to take care of everything, it is better to gradually delegate certain functions to specialized personnel in certain areas such as marketing, finance, accounting, logistics, etc. But remember that the work is delegated and the responsibility is shared, do not fall into the error of unloading completely from the operative areas of your company. In our section “For future managers” there is a large amount of material to train you in various topics related to business management. It would not hurt you to take a look at these resources. The objective at this stage is to systematize your company so that it works with or without your presence, once you achieve it, you will have taken a big step towards the consolidation and growth of it.
11. It’s time to grow and expand
Keys to growing a business
With a systematized company and “walking on automatic pilot” there are no excuses to stay small. Start by defining a growth strategy that allows you to reach new markets and new customers. The options are varied: franchises, start exports, open new branches, create alliances, etc. A key concept at this time is “The Re-investment”. You must allocate a budget to the growth of your company and propose goals guided by a great vision. In these moments you are only you who puts limits on the growth and expansion of the business.
12. Constant training and beginner mentality first of all
Did you think that having a big business with a global operation had already done everything? No, entrepreneurship is a constant process of learning, it is getting up every day with the illusion of changing the world. Do not let success “go to your head”, always keep the same enthusiasm and passion with which you started to undertake.
Remember that Steve Jobs changed the world 5 times and still woke up each day to continue doing his thing with the same delivery of that young visionary who once dreamed of making his ideas come true. Attend seminars, read books, get advice and learn everything you can about your business, your industry and everything that you are passionate about. Always walk through life with humility and desire to learn new things, set aside paradigms and set out to revolutionize the world with your passion and enthusiasm. Here we will be ready to share your success story.