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UEL | Saint Paul | University Enterprise Labs | Incubator | Start-Ups

YOU DON’T HAVE TO BE GREAT TO START, BUT YOU HAVE TO START TO BE GREAT

7 Steps to Business Success –

https://entrepreneurshipfacts.com/7-steps-to-business-success/

rawpixel / Pixabay

 

It’s not uncommon for the greatest of successes to come from an unexpected source. The example of stick-it-notes comes to mind and many companies follow a similar path. They find their initial idea or direction is not working, so they take the experience and lessons from their mistakes to pivot and look for success elsewhere.

The key strategy to remember is that success only follows effort. You need to start somewhere and it doesn’t have to be the perfect thing. Simply take one step forward and keep on learning. It’s important to realize that while you might not know everything right now, there is more than enough free information out there for you to get started.

Follow this simple guide to learn all of the secrets you were looking for.

Business Success in a Simple Fashion

Stats show that only one in ten people have the courage to start their own business and take that giant step forward. With many people it’s the fear of failure that holds them back. That same fear impacts decision making and almost guarantees failure creating a self-fulfilling prophecy.

Believe in Yourself

This phrase might be iconic, but it’s also the key to success. Even if you know nothing about business, or whatever that is you want to do, you have to believe in yourself. As the billionaire Warren Buffett said “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.” If you want to be a millionaire then you must first believe that it’s a possibility and you are capable of it. Once that is established, you can then start learning and building a foundation for your dreams. The reason it’s important is that you simply won’t take action if you don’t believe that you will succeed.

Here are seven steps to get you from zero to hero quickly

  1. Have A Goal in Mind

Step one is establishing that goal that you want to achieve. This is critical as already mentioned, and is the point at which you need to start.

  1. Start Saving

Once you’ve got your goal in mind, you can start saving money to make this goal a reality. This is just as important as step one as without the capital, you are going to have a difficult time translating your dream to reality.

  1. Get A Job If You Have To

Use your current job to your benefit. With any new business it takes time to become profitable. This means when you first started, you will to continue investing in the company and that money needs to come from somewhere. You either have to find investors or bootstrap your business. If you have no experience or business background then finding an investor isn’t an easy task. Even if you managed to found someone who is willing to invest, they also want to see that you have some skin in the game. So, sticking with your 9-5 at first might be a good idea until you’re ready. Think about your current employment as an opportunity to “learn while you earn.”

  1. Do Your Market Research

This is an opportunity for you to understand what gap you are trying to fill. Do your research and look for those problems that are not being addressed. How can you and your new business solve those needs. What profit will you be able to realize by doing this?

  1. Never Stop Learning

Determine what you need to know in your field for success and make that your goal. There are lots of information available online to get you started at little to no cost, and it’s important to be flexible. If your learnings lead you in a different direction, be prepared to pivot.

  1. Take Action

Although learning is great, but taking action is much more important. Knowledge by itself will do you no good if you don’t take action. If you are one of those who want to know everything to ensure 100% success before you get started then you will never get started. The fact is there is no way for you to know everything! Just get started and figure things out along the way. Nothing else matter if you don’t do anything at the end of the day.

  1. Experimenting

This is where you try different strategies to see which ones work and don’t work for your business. One thing almost for certain is that your business won’t fly on the first try. Make sure you fail fast and fail cheap. Then take the experience and continue on. Be focused on success and do not give up through any challenges thrown your way.

In Conclusion

Now that you have the seven steps, there is really only two things you need to do; First you need to create your plan. Have some achievable goals and then start taking action. Doing something is the key. You can start small with limited risk but you need to do something and keep it going. Doing nothing is a sure way for not reaching your goals. 

Second and lastly persevere to the end. Do not give up. You will have roadblocks thrown at you but it’s important to keep on going. Before you can expect to achieve success, you’re going to have to show persistence and determination. This is the test you have to win.