The road to success in business has never been straight to most successful entrepreneurs I have had a chance to interact with. It’s always full of ups and downs. But most of the successful business people you see around you or you hear being talked about have crosscutting characteristics, which really make them attain their goals irrespective of the obstacles they encounter along the way to success. Through this article, I would like to share with you 5 great ideas that have enabled most rich people to accumulate a lot of wealth.
One day, I was chatting with a colleague of mine, who has actually made his fortune from a real estate business. He narrated to me how he started his journey to success, the obstacles he encountered, the lessons he learnt and his future plans. I really saw a simple man in body but a great man in mind. It’s not easy to find such visionary people and if you can have two or three of them around you, you can count yourself among the lucky persons.
This colleague of mine hinted on 5 important ideas that enabled him to become a very rich man and I got convinced that the same ideas can be of great importance to others. This is the reason why I chose to share them with you through this article.
1. The first key to success is in realizing that it takes time to grow a business to the level you want.
You have to work hard and determinedly long to make money in business. You have to take action every day, every week, every month and every year. Years can pass by before you begin to see some good money coming in from your business but when you are building a strong foundation for your business. If you persistently work on your business and remain focused, you begin to see some good results. Even Rome was not built in one day.
2. Educate yourself about the type of business you want to undertake before starting it.
It’s a total mess for you to venture into a business on which you have scanty or no knowledge at all. Even after starting it, you have to keep on renewing yourself with new knowledge and skills.
A good number of people rush into businesses they have not fully understood. They just hear that a particular business is lucrative and they jump into it. That’s a wrong and disastrous approach to business. You have to do some research to establish the facts. You have to research and continuously read to build your capacity, to learn new ways of doing business, to anticipate changes in people’s tastes and preferences, desires and needs, to keep yourself up-to-date and to achieve your goals.
3. Having a stable family and a trusting relationship with people is a key to success in business.
No man is an island. And some people say that where there is a successful man, there is a woman behind the success. But I would like to add on that by saying that success also depends largely on the trusting relationships you have with the people who surround you and who do business with you. If you are disorganized at home and in the way you relate with your customers and other people, you cannot succeed in business.
4. Another key to success in business is credibility.
Be honest and trustworthy in your dealings with your customers. If you cannot pass the test of credibility, then you are just wasting your time and you will never succeed. Trust protects you and it has actually protected this colleague of mine. He mainly deals in real estate whereby he buys land, puts social services in place and sells it. Of course there are many other established property dealers in the marketplace. But because he has built a strong credibility, people feel confident and comfortable doing business with him. Do you see what trust can do for you? How trustful are you to your targeted customers? Do they feel you are trustworthy? Do you exhibit it in your actions?
5. Understand that obstacles are part of life.
As you walk your way to success, you will inevitably come across so many challenges, risks, failures and roadblocks. But if you want to succeed in your business, you should never allow those obstacles to derail you from achieving your goals. Remain focused and determined. A temporary defeat should never make you pull out of business because when you pull out, it becomes a sure way to failure. How about the time, the energy and the money you have invested in business, aren’t you going to lose them?
When he finally went through the above five contributing factors to his success, he left me contemplating about how I could apply the same ideas to grow my small business. I also realized that I needed to continue rubbing shoulders with successful people like him. It’s good to bring closer such people, who have made their way through and who can add a lot of value to your life.