There is so much that a small business owner, or potential entrepreneur, can do with just a shift in how we think, and what we focus on.
When you start to look back at what you have achieved and where you are in your life, work and business, you would begin to realise that success is heavily dependent on your attitude.
Most people who are successful started out just like you – and then they kept their strength and determination, they persevered through the tough times and now we look up to them as successful business people.
The good part is that you can make it too and even achieve much more than them. The magic is upgrading the software your mind has been running on with a new, better and bug-free version!
Here, serial entrepreneur, Taimur Khan, tells ByteStart how a positive mind-set can help you succeed with your start-up; (more…)
You’ve got to be a bit of an optimist to start a new business. This positive outlook undoubtedly helps you to get through the ups and downs of starting your own business, but it’s worth investing in a bit of negative thinking too.
When astronaut Chris Hadfield described his preparation to go into space, his focus was not on how fantastic it was going to be when he got there but on being ready to deal with the things that could kill him, so he could get to come back again.
This approach has parallels for how we start up too – we can dream of the big fabulous destination, but we have to expect that we will need to overcome challenges to be a success.
Running a startup is about stepping up to run a messy marathon, not hunkering down to run a perfect sprint. We have to make sure we can go the distance and this means we need to talk about embracing failure, affordable risk and filling the weak spots.
Most new businesses will fail within the first five years. If you are starting a business you have probably read this before. Do some research and you’ll find that poor management, inadequate funding, or failure to understand your customers tend to top the lists of why this is the case.
Continue researching and you’ll get much on how to make your business a success, with advice like write a business plan, conduct market research, and ensure you have enough capital before you begin, all good suggestions.
However, even the most innovative idea, followed by the most robust market research, accompanied by more than adequate funding can still fail. That’s because success is rarely the product of any single task or decision. (more…)
When we are starting up and running our own business there are extraordinary demands on our time. We need to spend time on getting our product right, finding customers, seeking finance, managing staff and dealing with the latest legislation, such as the new auto-enrolment pension laws.
With the sheer range of tasks and every day duties to tackle, we can all find that our business goals can get lost in the frenzy and the frustration of not meeting our aims can get us down.
To achieve long-term success we need stay focused on our goals. And to achieve those goals, we need to keep quite a degree of discipline to ensure that our time doesn’t get sucked away and evaporate like a puddle on a sunny day.
In Part 6 of our 8-Part Guide to Writing a Business Plan we look at ‘Success Factors’. This section is very important as it provides a summary explaining why the plan will succeed.