Assalamualaikum. We meet again!
Well, now we’re halfway to the end. So, by now, I’m sure some of you have already intended to start your own business, right? When you have your own business, you must have wanted to make it becomes successful, right? I mean, who wouldn’t that? Everyone does. Now, let’s look at the ways on how to make a business becomes successful.
Todrin (2012) quoted, “Entrepreneurs -- whether they're an unemployed person striking out on their own or a seasoned veteran trying to get the mojo back again -- must do things differently in order to survive. Everyone must change, especially small-business owners,”. [a(i)]
In whatever that you do, you have to have determination in yourself. Believe that you can, you must and you will! Have a strong heart, have a strong will! You can do it! Take gradual steps, little by little. But, don’t worry. If you are determined in doing something, you will reach the finish line, soon. Yes, life is not a race. But, race with yourself! Challenge yourself! After all, who wouldn’t want to work and strive hard in something that they love doing? You have passion in Entrepreneurship, strive for it! Never ever give up. Strong will is important. Remember!
2. Have a written plan
If you want to succeed as an entrepreneur, you have to start from scratch. Start with what? An idea. You have to write them down, and plan your visions wisely. According to Todrin (2012), “Without a plan, it is merely a dream. It doesn't have to be a book, but you need a few pages outlining specific objectives, strategies, financing, a sales and marketing plan, and a determination of the cash you need to get things done. Writing it all down is a crucial first step,”.
3. Keep your ego in check and listen to others
Todrin (2012) quoted, “Advisors are crucial because you need people to bounce ideas off, inspect what you're doing, and push you to greater accomplishments, holding you accountable for what you are committing to do. Always be good to your word and follow through on commitments, even when difficult and challenging. This isn't about you; it's about the business. Don't take things personally and stay out of emotion. Do not let your ego control,”. Easily said, throw the ego away, far far away. You don’t need it here, in the biz world.
4. Keep track of everything, and manage by the numbers
According to Todrin (2012), to make a business become successful is to, “Create written systems for everything, because you will reap benefits from them later on. This is how you train your employees and retain consistency. Know your numbers and check them daily and make all decisions based on what they tell you. One of the most important calculations is cash flow pro forma. Determine how much cash you need to do the business, and do not start without the required cash on hand,”.
5. Reinvent your business
You have a business, it’s not working out too well, you’re not gaining much profit. What to do? Reinvent your business! According to Todrin (2012), “It is net profit, not gross revenue, that you want to focus on. Separate yourself from your history and create a new competitive advantage, be it a focused niche or super service, but not by discounting,”.
Todrin, D. (2012, April 20). 7 Ways to Help Ensure Your Business Succeeds. Entrepreneur. Retrieved August 27, 2015 from http://www.entrepreneur.com/article/223390 [a(i)]