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SME Guide

6 effective strategies to succeed in business

Starting a business is maybe easy, but succeeding in business is not always that easy. These are my 6 effective strategies to succeed in business.

  1. Create something of real value

Once you understand the concept of value creation and apply it every business you want to engage in, you will succeed in that business without doubt. Value is the cornerstone to success. If you stopped to think about it right now, the richest people in the world have created the most value. Hands down, it’s crucial if you’re looking to win. So why is value so important you ask?

While some people might be able to sell anything, that doesn’t guarantee long-term success. If you put your own needs first before the consumer’s, you’ll lose. Whatever you want to sell, manufacture, create, etc, do it with the consumer’s best interests at heart.

Think about this for a moment. Before most of the world’s most successful companies ever made a dime, they added value first. Facebook connected the world through a massive social network. Google provided the most uncannily accurate search results before it ever enabled you to run an ad. And so on.

  1. Improve yourself

For you to start making the lives of others better, you have to improve yourself first. This time it’s all your responsibility. Only you can change and improve yourself. You have to understand that learning never ends and there is always a room for improvement. Create a personal development plan.

Realizing that you can learn and are willing to do so is way more important. Only by doing so you will maybe reach your full potential, an after that realize again that there is room for more. Be open to new beliefs, never be afraid to ask questions and forever remain curious.

If all this proves too difficult, search for a mentor. Someone who you can ask questions about business and receive a supporting shoulder when in need of one.

  1. Improve the lives of others

Not only should you deliver real value, but you should look for ways that you can improve the lives of others with whatever it is that you’re peddling. Sure, you could sell anything to anyone for a brief period. But, if you’re not improving the lives of consumers, you’re really wasting your time.

By building products, services or information that improves the lives of others, you can quite literally transform your business and catapult it into the stratosphere. We’re talking long-term exponential growth.

That doesn’t mean you can’t profit from your efforts. It simply means that you have to focus on improving the consumer’s life first and foremost. That’s the key or the secret to success here. Focus on that and watch as your business takes shape and reaches new heights. Ignore it, and watch it crash and burn.

  1. Lead by example

Lead by example. Demonstrate instead of explicating. Expect that you are the first who needs to get his or her hands dirty. If you’re asking others to work overtime, stay with them yourself. Provide recognition to others. Humans learn mostly through imitation; your employees will pick up and follow your behavioural patterns. If you want others to admit their mistakes, first admit your own.

Be a positive role model that inspires others to follow you doing the work the best they can. Great leaders can inspire their followers to work even beyond their capabilities. They also show a great level of confidence and the ability to show their employees that they have the same qualities.

  1. Be authentic and transparent

Don’t be that person that people are afraid of talking to .If you really want to succeed; you should be authentic and transparent. People have to know who you are. There shouldn’t be assumptions about you.

Don’t make unrealistic claims. People can see right through it. Instead, be honest about what your product or service or information will do. Use real-world reviews from people who’ve tested whatever it is that you’re offering. Those testimonials go a long way.

People can always tell when you’re being inauthentic. People aren’t stupid. So don’t take advantage of them by trying to be or say something that’s not true. It’s just a waste of time.

  1. Communicate effectively

Most business owners aren’t comfortable communicating with their employees. Learn how to communicate effectively in all areas, be it in person, on print or emails. Avoid defensive posturing in conversations. Be prepared to give and receive feedback, either a positive or negative one.

Truth is the beginning and the end of any meaningful and positive conversation. Every lie will only hurt you in the long run, however effective it may seem in the short term. For a team to have high performance, its members must feel comfortable and trust their leader. Start by speaking the truth yourself first. Take questions from team members, and don’t be scared to say that you have no answer, but will soon find one.

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