Tag Archives: idea

Creating a successful business

 “Ultimately, there’s only one way to start your career, and that’s by starting a business. If you find yourself hesitating, remember my motto: Screw it, just do it,” – Richard Branson

Remember, starting up a business is a no easy task. Here is what you need to have within yourself to startup.

  1. Fall in love with your idea.

Falling in love with your idea is the key factor which drives you to achieve and create a successful business. Don’t start a business because you think it will make profits. Think of what the subjects and problems are that interest you and then justify which idea to convert into a business. Find out a talent or industry knowledge you have, then carry that with passion and love. This will help drive achievement.

2. Start locally

Now that you are sure of your idea and have justified it, start looking for the problems you have as a customer in the product or service you intend to sell/provide. Start with your area/city and think how your business could help overcome the problems you and your friends face. This way you would figure out what the market is missing and design solutions in your own product/services that could make the customer experience better. Once you have achieved in a smaller areas, think of expanding to other areas/cities.

3. Work around things

Just focus on designing your product and service to serve the society, this is the way how business work, : “by improving other’s lives”. Once you have done that, you make more money than you spend to create the product.

4. Listen to advice and overlook discouragements

Ensure to take advice from the ones who have experience in your field and be careful not to confuse discouraging comments for good advice. There will be numerous people who will tell you that you won’t succeed, you need to overlook discouragements but at the same time you also need to listen to those people too.

5. Stay Focused and Stay Motivated

In the first year, focus and motivation is a key to success. You need to dream big but at the same time you need to concentrate on establishing your business and surviving through the first year. Set small targets for each day, then week, month, quarter and a year, this way you will be motivated at all times and enjoy your success very frequently.

6. Be passionate of what you do

Passion is a vital part of your business. Enjoy and be passionate of what you do, let your employees be passionate and love what they do and so your customers.

Just adding an image which may feel irritating to the eyes, but if you focus on the word “focus”, it will give comfort to the eyes. So Focus is the key to success.

Focus
Focus
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Keys to build a successful business

Startup is a term that means you start with a new business. I would now like to bring in focus on business, which is what the core of a startup is.

If you think that starting up your business needs a very unique idea, you need to rethink. It’s not only a unique idea that will succeed. Even if it is a very popular theory to be the first in the market to be a successful company, it’s not always the most important tactic, and it’s like playing a major risk businesswise as you don’t know what the customer reaction to it will be.

An entrepreneur can cut down the risk by entering into a business that already exist even though his idea is not unique.

Building a successful business takes “drive, determination, belief in what you’re creating, bulls**t and charm.” – Richard Branson.

This is what you need to create a successful business. A unique idea is no bad, but entering into a market that already exist is not bad too.

It’s a tricky thought, entering into a market product that already exist may be a major risk as we are actually competing the already existing successful businesses. All it takes is, long term vision for your company, its customers and your determination.

Think about the changes that you would like to see as a customer. Even if you have found only a few, those little changes may add up to a bigger idea that leads to an entirely new and truly disruptive product or service. It’s less necessary to have entire knowledge about the industry you enter with a business but it is necessary to have the drive, determination and belief in your company and its products/services.

A classic example to this is Virgin records, Richard and his team lacked the insider knowledge about the music industry yet created a very successful business, and instead this lack of knowledge was countered by the idea of inviting potential customers to a cool shop they setup where customers could spend hours listening to their favorite music.

Judge from your own customer experience, you will always find better ways of doing the same thing. “Just do it.”

I think drive, determination and belief are the 3 keys to a successful business.

 

Just Do it!

The first thing, I would say to young aspiring people is start calling yourself an entrepreneur from the day you get your first business idea and you have a faith that your product will make wonders. This way you will be able to overcome all the discouragement that will come when you talk to people about your idea and the obvious answer you will get is: It’s not going to work! People have tried before. Listen to people and then just say this to yourself; “Screw it, just do it!”

Every one of us has an entrepreneur within us, it’s just that only a few have the gut to become one.

Here is a perfect example; Sir. Richard Branson. At the age of 15, Branson dropped out of high school to start his first business, a magazine for young activists titled Student. Four years later, in 1970, Branson began selling records by mail. In 1971, he opened his first record store. In 1972, he opened a recording studio. In 1973, he started his own record label. The Virgin business was scaling very high and if we look Richard was not even 24 that time.

Today, the Virgin Group is a well-regarded global conglomerate of about 350 companies, branching into the entertainment, travel, and mobile industries.

Not all of Richard’s ideas have been successful, Virgin Cola was unsuccessful and finally it shut down. But here is what Branson has about overcoming failures: “If you have enough determination…. It’s more likely that you will succeed because of what you learned from the occasions when you didn’t succeed, the most important thing is to not be put off by failure.”

Here is an advice video from Sir. Richard Branson for you to be motivated: