Successful Business – Why Some Businesses Succeed And Why Others Don’t

Do you know there is only one ingredient that separates
successful businesses from unsuccessful ones? That
single ingredient is simply none other than how the
business owner(s) think.

The reason why some people succeed in business and
others don’t is that most business owners are negative
thinkers, and they don’t even realize it. They start a
business, but lack confidence in their own ability to
succeed in their business.

A lot of unsuccessful business owners have the
entrepreneurial spirit, but they lack focus – often jumping
from one business opportunity to the next. Most of them
have never taken the time to set clear-cut goals for their
business. They tend to be more concerned about how
much money they are going to make, rather than on what
potential customers want.

On the other hand, if you observe successful business
owners, you will notice how well their minds are focused
on success. They are positive, optimistic thinkers. They
do not jump from one business opportunity to another.

When they first start out, they do not scatter their energy
by starting and running several businesses all at once, but
instead will take the time to nurture and build one
business or product line upward (horizontally). They have
a success-consciousness, and are horizontal business
builders, instead of vertical business builders. They know
that it takes time and hard work to build a successful
business.

Unsuccessful business owners tend to be impatient, and
expect to get rich overnight. They are unrealistic in their
goals, and want instant results. They often blame others
when profits are slow in coming, and will give up when the
going gets tough.

But, successful business people are fearless in their drive
to succeed. They will take immediate, massive, repeated
action to achieve their goals. They will never give up until
they make their dreams a reality.

They are more concerned about customer satisfaction,
inspiring trust in prospective customers, and building long-
term relationships with their customer base… the factors
that create success. They place more emphasis on
selling good products and services, than on making
money. They know and understand that the ultimate
reward of customer satisfaction is financial (monetary)
success.

Some successful business people are well educated and
some are not, as far as a formal education is concerned.
What sets them apart from unsuccessful business owners
is that their mind stays focused on success, regardless of
the obstacles in front of them.

If you are to achieve success in business, it is important
that you maintain a success consciousness. You must
keep your mind focused on the road to success, not the
obstacles you encounter on the road to success.

When you know your purpose for being in business, you
cannot be led astray by circumstances, words, or other
business opportunities that have nothing to do with your
goals. You must train your mind to focus on the end
result – the goals-you want to accomplish, not your
obstacles.

If you do, you will be able to achieve practically any goal
you choose for your business.

Do You Run a Successful Business?

If you take a sample of people and ask them what they think it means to run a successful business, the majority of the answers will be different. What one person defines as successful may just be a small step up the ladder for someone else.

Much of your definition will come down to what you actually want to achieve from your business. No matter what you want to achieve, however, there are a number of things that, if you run a successful business, you’re going to have to aim for.

The business will have to be able to cover the costs of buying or creating any products you sell. You’ll have to be able to pay the wages of any employees you have working for your business; that includes any work you do yourself. You’ll also need to make sure you have enough money coming in to pay any taxes that the business will have to pay.

All of those things will apply whether you’re the only person in the business, or you have a worldwide company with thousands of employees. But, that’s where the similarities between businesses end, and ambition takes over to determine if you run a successful business.

Do you want to make a comfortable living? Do you want to be able to leave the running of the business to someone else? Do you want to be a tycoon and have an empire that you can watch over? Or, is having just enough money to pay all of your monthly bills your definition of what qualifies for you as having run a successful business?

These are the sort of things you really need to work out for yourself before you go into business; each will require a different sort of business plan, and it helps to know what your end goal is.

If your aim in life is to have more time with the family, and that’s why you’re setting up a business, then you’re going to want to have a business that will run as smoothly as possible while you’re not there. This could mean getting someone else in to run it for you, or it could mean setting up something online that will run as automatically as possible.

Whichever of the two options you choose your definition of having run a successful business will be when you can spend that time with the family, and still have money coming in all of the time to pay for things.

If you want to be the next corporate millionaire and have offices all over the world, you’re going to have to go about things a little differently to the person wanting to spend more time with their family. You may still choose to spend more time with them, obviously, but the chances are that for the first few years at least, you’re going to be spending a lot of time making contacts, employing people, studying trends, etc, etc.

Here you’re going to have a different definition of what it means to run a successful business. Will it be when you’ve made your first million? When you have offices in America, Europe, Asia, and the Pacific? Or will it be when you’re a global brand?

Although both types of business model take work and planning, the results are essentially the same; you have something that you specifically want to achieve at the end of it.

The ultimate aim of most people, no matter whether they go for the global domination or the increased family time, is to be happy with what they’re doing. If you can achieve what you set out to do, and be happy with the process and results, then the chances are you’ve run a successful business.

Running A Successful Business Is Like Driving A Car

We buy a car to get us from A to B and the same applies when it comes to running a successful business- you need to have a good business model in place, to get you to where you want to be.

To create a successful business you will need the same 3 key components that driving a car requires namely a reliable vehicle, engine and fuel. So how exactly does this translate in a business sense?

The vehicle

Regardless of whether you’re starting a business online or offline, you will still need to have the right “vehicle “to drive you to success. By vehicle we mean the offer.

To run a successful business, your offer, whether it’s a product or service, needs to;

Appeal to the masses

Generate a high profit or commission

Be good

One way of making sure that your product/service is a good one that will appeal to the masses is to check out how much competition is out there for the same offer. If there is a lot of competition then this will mean that it is a good product that is in high demand.

Your job is to then make sure that you stand out from your competitors by being unique.

So how do you outsmart your competitors?

The Engine

That is where your “engine” comes in. The engine of your business is the system that you use to get customers to buy from you. If you have an online business then one great way of standing out over your competitors is by creating both a powerful website and creating your own unique landing page with a capture box included. By doing this you will start to build a valuable list so that even if your customers don’t buy from you on the first occasion, you can still market to them in the future. This technique can be invaluable in your quest to running a successful business.

If you have an offline business, there are other effective ways that you can build a list of prospective customers, including, storing customers’ mobile phone numbers and email details, so that you can text or email offers to them in the future.

So now that you have got your vehicle (the offer) and your engine (the system) in place, the next vital component needed for running a successful business is to add the right fuel (targeted traffic).

The Right Fuel

The first point to remember when finding traffic/customers for any business is that it needs to be targeted traffic. Just like a diesel car will grind to a halt if you put in the wrong fuel, (petrol), so too will your business, if you market to the wrong crowd. Therefore it is important to spend time working out who your target audience is and to make sure that you narrow your marketing efforts to that audience.

One powerful way to do this is to use social media sites that are free. Social media sites like Facebook and Twitter offer a means of joining groups within your niche and to also add followers who fall within your target market.

Another great way to reach your targeted audience is by using paid advertising methods like pay per click or Facebook paid advertising. However, if you decide to go down the paid advertising route, it is better to start off small and scale up once you start making lots of sales.

In my opinion success for your business requires finding a reliable vehicle, good engine and the right fuel. With all three in place, you will have the key ingredients needed to running a successful business.