Rules for Business Success Simply Explained

Anyone can start their own business. You don’t need any special qualifications. You just need the desire and determination to succeed and a little appreciation of the basic rules for business success.

There are many attractions of running your own business too. When you make a profit it’s all yours. You will be building your own dream rather than helping someone else build their dream. And you will be calling the shots, rather than having to work with someone for whom you have little or no respect.

Now running your own business is not easy of course. However it’s the best chance you’re ever going to have to make some serious money. Look at any self-made millionaire and in all probably they’ve made their money by starting their own company. The chances of you getting rich as a salaried employee are slim to non-existent, unless you work on Wall Street perhaps.

Let me be honest here. There’s no easy formula for success in business; there’s no magic bullet. Business involves some risk and it also involves a lot hard work. You have to be prepared to work hard that’s for sure. Anyone suggesting there are easy ways to make money in business is either dishonest or deluded.

Nevertheless plenty of people do succeed in business, so why not you? If they can succeed then you can too with a little self-belief, surely? Believe you can and you will.

However there are some basic rules you should bear in mind. Here are 12 rules for business success that you must always bear in mind:-

  1. Always have target customers and their problems in mind
  2. Solve a problem for your customer
  3. Create a product around the solution to that problem
  4. You don’t have to be first, just build a ‘better mousetrap’
  5. Remember: Your customer is your boss
  6. Until money is coming in, spend as little as possible
  7. Money in must exceed money out to make a profit
  8. Success depends on making a profit consistently
  9. Your profit margin should be worth the risks you’re taking
  10. Use the skills and resources you’ve got
  11. Be flexible and adapt when necessary
  12. Go for activities where you can add the highest value

With self-belief and determination you can be as successful in business as anyone else. Don’t let negative talk by others put you off. Just go for it, if you think you have what it takes.

Even if you’re not quite sure whether you’ve got what it takes, it’s better to have a go and fail than to spend your life wondering what might have been. Life is too short to look back with regrets.

Business success can be achieved; people do and you can too.

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© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

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