The secret to being a successful entrepreneur

How often do you hear people say that they’d love to be an entrepreneur? They’ll tell you that they’d love to be a success in business, making a difference to peoples’ lives with great products and services. Then they’ll add the caveat that unfortunately the time’s not right for them at this moment. One day they’ll have a go but their circumstances won’t allow it at present. However very few of those who say they’ll have a go, will ever actually have a go. They don’t really have the desire and they don’t understand the secret to being a successful entrepreneur.

Starting your own business can be a fantastic thing to do and, for most people, it is the only way you’ll ever have the chance to make some serious money. Certainly you’re unlikely to get rich working for someone else.

However to succeed in business you have to get started. The critical ingredient to success in business is you getting off your butt and actually doing something about it. And the best time to do it is always now. It’s simple really.

And the secret to being a successful entrepreneur is to solve problems for people. Every product you sell must solve a problem for the customer. If you can identify problems for which people need a solution and if you can offer those solutions, otherwise known as products, at value for money prices then you can be a success.

Remember this too; you don’t necessarily have to be the first with a solution. If you can improve on an existing solution in some way then you can still make some serious money. For instance, Steve Jobs and Apple were not the first to offer cellular mobile phone handsets, and nor were Samsung. Yet these two companies currently dominate the market for such handsets.

Has your appetite for business been whetted? Do you have any ideas you think might make a difference? You do? Then you have to be prepared to take action. Having ideas means nothing unless you decide to take action.

Plenty of people have ideas which never see the light of day. Occasionally they’ll have ideas but just leave it all too long and then someone else comes along with the same idea and beats them to the draw.

Having ideas is easy. Implementation is the tough bit and there are too few people with the drive and determination to turn a good idea into a business opportunity and then make money from it. So you must take action.

Not tomorrow; not next week; not next year; but right now. True entrepreneurs are doers, they’re not dreamers. So go on, get started right now. Solve peoples’ problems and you’ll be on your way down the road to riches. Good luck.

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

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.

Employee Morale: Why employees leave organizations

New job concept.As a business owner or CEO there will be occasions when, despite the business doing well, you discover you’re losing good people. Business performance is good but the same cannot be said for employee morale. So people are leaving your business as a result. In these circumstances, what can you do? Start by taking a close look at their immediate line manager.

Happy and fulfilled employees within a good team will work well and deliver results. Even people of mediocre talent will raise their game in a good team. Line managers play an essential role in creating good, well-bonded teams. So good line managers are the reason why people will stay and thrive within your business or organisation.

However poor line managers are the reason people will leave. If employees are not happy they don’t tend to hang around for long. Employees can feel their performance is being constrained by a poor line manager. They may feel their line manager’s style is preventing them from giving their best.

The problem is when people leave your organization they take knowledge, experience and a network of contacts with them, straight to a competitor. Leavers often take customers with them too. That’s not good for any business, obviously.

People don’t leave companies, they leave teams and it’s usually a bad manager who’s driven them away. Perhaps the line manager has poor people-management skills. Perhaps he or she has a personality that is challenging for employees to deal with. There could be many reasons but, regardless of the reason, that’s no less of a problem for you.

Of all the abuses an employee might experience in the workplace, humiliation is the one which they will find most intolerable. The first time it happens, the employee may not leave but a thought has been planted. The second time it happens that thought gets stronger. When it happens a third time, the employee actively starts to look for another job.

However the problem for you is not just the danger of losing a good employee or the time that could be lost whilst an employee has a job-search mindset. A bad line manager can have a serious impact on the employee’s attitude to his or her work. When people cannot respond openly in anger to a given situation, then they do so by passive aggression. By digging in their heels and being difficult or slowing down. Not going that extra mile to achieve a result, when otherwise they might have done so.

They might just be doing only what they are told to do and no more, when otherwise they might have shown some initiative. They might just conveniently forget to give the boss some crucial information. If you work for a jerk then basically you’ll be happy to see him or her get into trouble with higher management.

Different line managers can stress out employees in different ways. For instance this could be by being too controlling, too suspicious, too pushy, or too critical. Line managers can forget that workers are not fixed assets, they are human beings and they are free agents who can move on if they choose. Often when employees do quit it will be over a trivial issue but the damage has been done over a longer period usually.

As the business owner or CEO you would be wise to remember this saying – talent leaves; dead wood doesn’t. And that’s the problem. Dead wood is just a drain on your business. It will be by having a pool of talent within your business that will allow you to succeed over time.

When people leave your business, don’t ignore it. Ask yourself why.

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© Roy J Sutton and Mann Island Media Limited 2017. All Rights Reserved.

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