What does it really take to be successful in business? There is so much noise nowadays. Some claim it’s a brilliant idea, others say it’s about solid business tools, and others say it’s hard work.
Some claim it is such a complex matter that it is impossible to tell. I heard Brian Tracy on a podcast episode when he quoted a huge research on entrepreneurship. Scientists tried to determine what makes some entrepreneurs successful, while others must close the door after a few years. The research lasted for decades and studied thousands of entrepreneurs. The conclusion was that the successful entrepreneurs did only two things differently: they got started and kept going.
Success leaves clues.” – Tony Robbins
Success is nothing more than a few simple disciplines, practiced every day.” – Jim Rohn
Yet, like Tony and Jim, I believe there is a finite number of timeless universal principles which allow for success in business.
I tried various ventures in the last decade.
I failed at some.
I succeeded at others. I also had a unique insight into businesses of my coaching clients.
And I found what separates successful entrepreneurs from those who went out of business.
Not all the successful businesses stick to all the principles.
Not all failed businesses ignore all the principles.
And at various stages, there is different level of importance of each of the principles. #1 is absolutely crucial for solopreneurs, while #7 will do not much of a difference for them.
#7 is extremely important for matured businesses, while #1 (at least when it comes down only to the owner) might have been no issue at all.
And of course:
Everything in moderation, including moderation.” – Oscar Wilde
We, human beings have this innate weird ability that we can turn every good thing into a bad one if we overdo it.
If you chisel your systems and processes to perfection, but you don’t have time for sales and marketing, your business will die.
If you are obsessed about your vision and values to the point that you ignore the cash flow, your business will die.
You can use even a kitchen knife the wrong way; it doesn’t mean it is not a valuable tool.
So, please, do not try to poke holes in those timeless principles by brute force. They are valid. They work for each and every successful business.
Nine Universal Business Principles
Principle #1 Separating Successful Entrepreneurs from Those Who Went out of Business
Principle #2 Separating Successful Entrepreneurs from Those Who Went out of Business
Principles #3&4 Separating Successful Entrepreneurs from Those Who Went out of Business
Principles #5&6 Separating Successful Entrepreneurs from Those Who Went out of Business
Principles #7&8 Separating Successful Entrepreneurs from Those Who Went out of Business
Principle #9 Separating Successful Entrepreneurs from Those Who Went out of Business
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