How to succeed in business


SolutionSome people can make business seem awfully complicated at times. And yet actually, it’s really quite simple. Essentially business is about solving problems for people. It’s that simple. Well it is if you want to make money at it. Sometimes you might spot a gap in the market. This means there is a problem which has yet to be solved. All you have to do is find a solution. This is a great place to be, if you can find it, because you have the chance to be innovative and no competition means you can make very good margins too. So if you spot a gap in the market, go for it. However don’t worry if there is already a product on the market providing a solution for the problem you have in mind. Just because a product exists that doesn’t mean there isn’t a better way to solve that problem. The early bird might get the worm but the second mouse still has a chance to get the cheese.

As the old saying goes, build a better mouse trap and the world will beat a path to your door. Innovation is the way your business can stand out from the crowd. Clever products, well designed, providing great value for money. If you’re in business, look at products in your niche currently on offer and see if you can improve on them. It’s never too late to produce a new design for an existing product or a new way to do something.

The key message here is to consider the products you have to offer and make sure you understand which problems they solve for your customers. How do those products compare with the competition? And is there any room for further innovation to make it better or cheaper or both. To succeed in business you need to be innovative but, above all, you really must be solving problems for people. Fail to do that and your business won’t last long. However if you can do it well, providing innovation, quality and real value for money, then business success will be yours. If you’re looking for a business role model, then Apple would be a good place to start in my view. They lead the way in their field and have done consistently over many years. They even manage to make their products seem really cool. They manage to give them a ‘must have’ quality too. Now how good is that?

© RJ Sutton and Mann Island Media Limited 2014. All Rights Reserved.


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