As future businessmen, I suppose we all ask ourselves from time to time how all these wealthy businesspersons managed to make a fortune so huge.
Whether there is some easy way to do that?
I should disappoint you since there is no simple way if you don’t have a wealthy relative that is going to pass away, of course.
If you want to have your own business and succeed, you need to do your best to get a couple of habits that might be very useful for you.
There is no doubt that you have to have preliminary capital, a couple of good friends, and enough strength to work hard day and night.
However, only your personal qualities define your success.
1. Readiness
Readiness for business.
It is such a condition when you realize that you want it or when you decide that you want to work for yourself and only for yourself when you do not keep nose to the grindstone for someone else.
When you are ready to devote yourself to this business… and you are prepared to face problems.
When you live an idea, when you breathe it – then you are ready.
2. Confidence
Confidence in the idea. In your future business. What you want to open must be successful. It cannot be otherwise.
When you tell all interested, all employees, friends – YES, I will do it. YES, I will do it. Only then take the idea.
If you are not ready to talk, if you are not sure, do not even try.
If there is a fixed idea in your brain, accompanied by the words – I want, or it seems to me that I will do it – this is not the case.
When you rekindle dreams, when you are sure of it – then take it.
3. Entrepreneurial attitude
You must be the devil of a worker and must be a businessman. You have to arrange a case and have to lead people behind you.
And you must be seen as an entrepreneur, feel it through conversation and business. You have to see ideas, and you have to take everything you need. You have to be ideological and must be adventurous. Remember this.
4. Responsibility
Business needs money. You have to realize that this is a considerable risk.
You should not take money without understanding that this is a huge responsibility!
Many people committed suicide because of debts. It breaks up marriages.
Friends are lost from it, and relatives are turned away. If you take money, you have to give it away.
Please, I beg you; understand that this is a huge responsibility and that these are huge risks!
Do not borrow if you are not sure about 100% repayment.
5. Awareness
You must know your sphere. You must understand what it is and how it works.
Excellent if the scope of the company is your favourite.
You know this, you feel like a fish in the water. You know the loopholes.
Imagine a grandmother who wants to engage not in sewing production, but web design. Things are not that simple.
6. Business plan
It does not matter how it seems to you that everything is so simple, bright, and beautiful – you must write a business plan or something like it — a brief strategy.
If you do not have a business plan, open the case – you will make a big mistake.
Without a plan of action, you cannot do anything. You should know your customers.
Must see the big picture. No matter how stupid it would look, write. That is better.
7. Friends
Staff policy is not for your friends. You will understand your mistake as soon as you do.
Friends will not be suitable for posts as hired workers. Friends will not cope. They will want more than others will. Friends can put pressure on you. Friends will pull your firm down.
You will not be able to dismiss them from a sense of duty. If you hire a friend, you will make a big mistake.
The old true saying: “Lend your money and lose your friend.” Do not engage with friends.
You can cooperate with them, but not work with them.
8. Honesty
If you are the right partner – people can trust you. You do everything on time, and you do not let anyone down, you do not throw anyone away – the partners will stay with you.
They will return the favour. Do not throw anyone! You said – you did.
Keep your word always, and people will reach out to you.
Still – do not forget that in business they throw and throw everyone away. Cannot be too careful.
9. Sparingness
Do not spend all the money. If a company brings a fantastic income, do not get used to it. It could be just some luck, overnight success, or little more than you have a soft client. You need better clothes.
More expensive entertainment. A cooler car. You will be pursuing this.
In this pursuit, you will forget about the business. And if it will bring even less – you will assume that life is over. And remember: “easier to earn than to save.”
10. Economy cut
We are taught the wrong things in the universities!
They impose on us the opinion that a company is when there is a corporate culture when there is complete renovation is everywhere, white walls and new furniture and high equipment! All wrong! Save! No need for cool stuff! All at a minimum!
Why offices for workers? Cellars, Pentium1, ordinary students are working for pennies.
Here are the realities of business. There will be no new company. Everywhere you need to save! All at a minimum!
11. Distance
You cannot be friends with your employees. Keep the distance. Do not let them come close to you. You are in charge. You are the boss, and you are the director.
For example, do not drop the formalities. In my opinion, this will both elevate you, and the workers will feel more and more responsibility.
12. Time management
Since having your own business is pretty much exhausting. There will be a lot of meeting and problems to settle, and if you are not able to handle them all, you will never succeed.
Thus, you need to use a technique called time management. It is applicable also for day-to-day activity, but in this case, it is even more than necessary for you.
First of all, you need to make a plan for your further actions and affairs.
This one will help you not to forget about things you need to do and redistribute your time.
As far as you understand, there won’t be any fixed schedule since you are the employer and for now, on you choose the working hours.
13. Laziness out
Since there will be a lot of extra hours of working every day, you should forget about procrastination. I’ve found one useful piece of advice to start with.
You need to stop postponing things. Forget about the word “tomorrow,” there is only “right now.”
It is a good piece of advice not only for business but also for day-to-day activity. You need to understand that there is no place for laziness anymore.
14. Rhetorical skills
You have to be an excellent speaker to succeed. Communications is a significant part of our lives, and we should be aware of some simple tactics to benefit from people.
First you all, you should be an active speaker, ask some questions, show your interest in your collocutor and you will see a similar reaction. To be a good speaker, you have to read a lot.
Smart people will realize at once that you are underdeveloped and won’t have any business with you.
These skills will help you both make good deals but also motivate and inspire people, and it is an essential quality of a leader.
15. Be focused
Unfortunately, even in the most proficient higher educational institution, you won’t learn how to be attentive.
It is an achievable skill, but it might be beneficial for you in the future.
The reason is simple.
You need to memorize a large amount of information and do a lot of tasks at the same time and being unfocused you won’t get 100% result since your work will be half done.
