Top 5 Lessons I’ve Learnt in Business

Starting and growing a business is the dream of every entrepreneur. However, if the endeavor turns out to be successful. It becomes one of the most exciting undertaking imaginable.

Statistics have it that at least half a million small businesses are started in the US every single month. Unfortunately, only a number of less than half survive for at least five years.

Apparently, to better your chances of succeeding in any business, you need to follow some proven strategies and learn to face things with the right attitude.

So for prospective entrepreneurs, they definitely need to learn from the mistakes of those who managed to defy odds and develop extremely successful enterprises.

When You Fail to Make It Part Of Your Dance

When you start a business, you have to market yourself out there in a very public way. In business, you might not always get things right, but always focus on the importance of the experience.

At some point, you’ll slip up, fall and face sheer rejection. These failures need not be a brick wall in front of you or red light; consider them an extra step ahead.

As a rule of thumb, learn from your mistakes, ignore naysayers, and stay positive so that things work out better the next time around.

Always Remember That Everybody Is Equally Important

As your business grows, you obviously surround yourself with better and much smarter people than yourself in all areas; those people deserve respect. How you treat them matters.

Most likely, Steve Jobs didn’t make it by himself, but he built a team of people who were trained to think outside the box and believed in innovation.

One of the most important elements of every business is making sure your team has everything they need from support to trust and everything in between.

Encourage and nurture your employees; they are better engaged when they are consistently shown that their contributions and ideas are valuable.

Focus On Self-education

Education is a lifelong process. It doesn’t stop when the class does. A truly successful entrepreneur knows that there’s no better investment than education.

Unfortunately, there are strategies taught at the MBA programs that aren’t going to teach you how to reach your entrepreneurial goals.

Emerson Spartz is one such entrepreneur who best elaborates the importance of self-education

Embrace Leadership

When your business is in the start and growth phase, you are held accountable to customers, employees, investors, and partners.

Once you get past these phases; when you are solely responsible for everything. Focus on the main roles of a CEO

• Manage the senior team
• Set strategy and vision
• Oversee resource allocation
• Communicate with stakeholders and
• Build the culture of your enterprise

Remember Why You Started

Starting and building a business can be a challenging thing to do, but rewarding.

Always remember that meaningful work doesn’t necessarily imply it is easy, it implies it’s going to be worth it.

CONCLUSION

Certainly, wisdom comes with experience and age. Keep an open mind and conduct your business with high level of integrity.

At the end of the day, real success is what it feels like to you; not what it looks like to others.