Achieving real success should be the goal of any good businessman. But what is real success? I believe that it is no just money, or instant growth. In my opinion real success is composed of the following factors. Good growth, good reputation and above all peace of mind. In this short exposure I try to elaborate on five factors pertinent in achieving this real success.
1. Do your homework and planning
Before starting a business you should study the background carefully. Many people ends up as losers only because they starts a business seeing the outside glitter. So talk with people doing similar business, customers and various others who are involved in similar business lines.
2. Be straightforward.
Even thought businessmen are believed to be cunning, a cunning person never gets peace of mind. It is always better to do things in the clean way. This does not mean that you should be foolish or to be cheated by others. You should be intelligent enough to understand others cunningness, but should be straightforward in your dealings.
3. Don't be greedy
Greed in any form is likely to cause peril in the long run. Taking huge profit from an unaware customer base may increase your growth temporarily, but will surely affect you in the long run and may even result in the collapse of a business. History shows that many business empires achieving such abnormal growth tend to terminate quickly. So insist on steady growth even if it is slow.
4. Insist on quality
Delivering a low quality product or service at a lower cost may increase your profitability, but is likely to obliterate to you in the long run. The customers now satisfied will turn against you when low quality shows out. Also remember that bad reputation travels faster and is difficult to remove! So insist on quality products and services even at a higher price.
5. Don't gamble in business.
Remember that Murphy's Law applies in business many times. So indiscriminate gambling may result in the collapse of your business. This doesn't mean that you should not take a calculated risk. But you should be able to survive even when things turn against you.
Kannan Balakrishnan is a faculty in Computer Science from an Indian university. He can be contacted on kannanb@post.com.
move out cleaning service Lake Forest ..Every company has business pain, but the pain does not... Read More
Did you ever have one of those days or weeks... Read More
If you are looking for a way to own your... Read More
Sacred cows take a long time to die. We get... Read More
On June 8, 2004, the world witnessed what no one... Read More
Deciding to start your own franchise is just one of... Read More
You know what makes me really happy? Drinking a Starbucks... Read More
I love lists. I make them for everything. And I'm... Read More
1. Don't Spend Too Much Time PlanningWhen you are entering... Read More
Where do you find more customers?How do you compete with... Read More
My colleague, Jane, recently lamented to me an all too... Read More
1. Look Over Your Shoulder ? Of course, Punxsutawney Phil... Read More
Are you a small business owner who wants to expand... Read More
Franchising Corporations need to maintain an iron fist when it... Read More
Everyday more web based companies enter the business scene. The... Read More
A corporate shell could be liken to a house that... Read More
Pity parties are nothing new. In fact, we do it... Read More
A Small Business Opportunities Magazine is one of the new... Read More
I frequently give presentations at small business gatherings, providing me... Read More
How do you make sure you have the business solutions... Read More
Too often in business we get trapped into reviewing our... Read More
Macon, GA goes after garage-gas station conversion detail/hand car washes... Read More
Work smarter, not harderWhat is one of the best ways... Read More
Many have not experienced a fire up close. One year... Read More
Starting the blind cleaning business is one of the best... Read More
house refresh service Bannockburn ..To wash an airplane there are many items you will... Read More
Seems as though there are a lot of business closings... Read More
It appears the mini-blimp indoor theme and concept is making... Read More
Ok, you have successfully accomplished your dream of being the... Read More
It's a commonly quoted statistic: 80% of all small businesses... Read More
Before you read any further in this article, I'd like... Read More
Just recently, I took a break and caught "The Return... Read More
As a solo entrepreneur or small business owner, one of... Read More
Debt collection letters--an overview"Debt collection letter" in the singular may... Read More
Each day we hear of companies entering the franchising industry.... Read More
Many small companies work very hard to get new accounts.... Read More
We love Wichita because it has great all round weather... Read More
Why should you always maintain a good report with a... Read More
Starting and growing a small business can be a daunting... Read More
Do you have all the customers your business can use?The... Read More
Do you like animals? Would you like to work for... Read More
Q. I am a former pastor who left the ministry... Read More
Part of the power plan is making sure you have... Read More
It's a strange anomaly.Most people who set out to start... Read More
There is a Batting Cages Business for those people who... Read More
The goals of businesses have undergone much evolution from the... Read More
Are you tired yet of all the books out there... Read More
As a teenager I worked for my father's small business.... Read More
How to do itPeople skim through newspapers and magazines and... Read More
Obtaining a business credit card enables the small business owner... Read More
Small Business |