In this post, I’d like to provide valuable business tips when managing a company.
The idea of this post came up after a young lady asked me what tips I were to give her should she decide to start her business.
Let’s dive directly in to the subject š šĀ
Simplify things
Simplify. Let me say that again. SIM-PLI-FY. One of the most challenging things to do is to turn something complicated into a simple thing.
One of my prep school Math lecturers always said: great scientists are those with the ability to mathematically prove evident concepts.
Such words never left my mind.
I believe the same applies for business: making things as simple as possible will definitely serve your business. The easier things are to use, the more people will be attracted to them!
Simplicity is your best friend.
Focus on products. Not profits
I have always believed that profits would care for themselves if the products were great. Great in quality, in finishing, in servicing, etc.
When the products are excellent and are well marketed, the profits will follow. Keep your focus on the products. Not on the profits.
Your customer will know if you focus on the profits and NOT on the products. They will feel fooled and taken advantage of ā rightfully, might I add.
If your business relies solely on making profit, you might not have a business to carry on with on the long run. It would be a pity to work to build a business on such weak foundation, wouldnāt it?
Be childlike
Become like little children, and you will experience heaven – even in your business.
In fact, inĀ previous posts I exposed some commonalities between children and entrepreneurs. You can find it here and here.
A childās mind is like a blank page. Their imagination takes them in places in which adults will never imagine.
Children have the best learning abilities as they are always ready to learn something new. They are also naturally curious enough to try out new things.
Even when they realize they were mistaking. This ability to keep on even after they fail brings us to the next points.
Acknowledge mistakes
Why is this advice amongst valuable business tips?
The first step to being successful is acknowledging our past mistakes and/or failure. Indeed, great and humble people are always trying to improve.
There cannot be any improvement if there is ZERO recognition of past errors. Such recognition forces one to face their error and prevents from reoccurrence.
No one but God is perfect. Therefore, as imperfect beings, we are bound to make mistakes. We might as well acknowledge them.
Failure is a steppingstone
Yes. It is OK to fail.
We live in a world where failing is not an option. Says who?! First, I beg to differ to differ that. Second, I think such mentality is a pity, as everyone has failed at least once in their lives. Except God.
Not only failing IS an option, but it is one of the best options. The majority of successful people have experienced failure prior to being at the top of their games.
Failing is great ONLY if we learn the necessary lessons from our past mistakes and failures. Or better yet: from our entourageās past mistakes and failure.
Furthermore, failures are what make room for innovation. Having such knowledge leads me to wonder: why deprive yourself from failing and therefore innovating?
I highly encourage you not to quit because of a failure. The real failure is quitting without learning from the failures.
Think and do things differently
Whether you have experience failure in your business or not, I highly recommend you think differently. Differently as in āoutside the boxā differently.
Indeed, if you have competitors, there is absolutely no point in copying their work. The original is always more attractive than the copy.
You will always have competitors. Even if you innovate, competition will soon rise. Therefore, look at things from a different perspective and present them with your own lenses.
Have a risk management system
Some aspects of business require to take risks. Even the best entrepreneurs have faced business-related risks.
However, the difference between the best entrepreneurs and the other entrepreneurs is their ability to minimize risks.
The first step to minimizing a risk is to manage the risk factors. A business minded person should bear in mind the risks associated to each move they are about to make.
Not only risks are to be calculated, but they are to be known and their impact are to be minimized. Minimize your risks to an acceptable level for you.
Donāt shy away from taking calculated risks!
Sometimes, passion and motivation are not enough to bring you to different levels
In a previous post, I have highlighted the importance of discipline in every endeavors. Indeed, motivation alone is not as yielding as discipline.
Though motivation is amazing, the issue is that one cannot always be motivated. Motivation comes and go. When motivation fails us, discipline should kick in and take over.
It takes 21 days to create a habit. And it takes 90 days in average to ensure that habit is incorporated as a lifetime.
What about you? Do you have any more valuable tip for businesses? Did you have the opportunity to implement any of those tips in your business? If yes, Iād love to read your thoughts in the comment section.
This post was aimed to provide you with valuable business tips for those interested in business management. Feel free to comment and share. Ā