Three keys to successful business in digital age
Starting a business is hard work, and keeping it successful over time is even more difficult. It doesn’t matter if your business is web design, a yoga retreat centre in Bali, a security empire in the USA, a publishing company in Sydney, an international gym, or a global mining vehicle manufacturing company (to name a few examples among millions of perspectives), running a business is a full-time job. Once you have a business – and even before you get it off the ground – there will be a world of advice waiting for you.
Some of this advice is important, and some of it not so much. Being an entrepreneur is a lot like playing the world’s most chaotic ball game. At any given moment, and at all times, there is a ridiculous amount of activity and haphazard movement going on. It can be difficult to track it all. So, what are the most important pieces of advice you can get as an entrepreneur? Why do they matter? Before anything else, understand these three sage pieces of advice and put them into practice in your own business.
Really understand the what, why, how
Having a business idea is great, but you know what’s better? Knowing how and why that business can have a positive impact. Not to mention having a strong handle on what the business is going to be. This is fundamentally important because consumers want to do business with people who know their market. This means you should know your competitors, the expectations of consumers, what the field you are entering lacks, and how you can improve it by bringing your business to the forefront. Know your stuff. That is paramount, above all else – always start here.
Keep it simple – the best ideas are not busy
It is quite simple really – if your big idea is too complicated to explain in a five-minute pitch to someone who has no background information on the concept or the industry it is in, you need to go back to the drawing board. This does not necessarily mean shutting down the idea entirely, but rather stripping back the fluff to the heart of it all and redrawing it up. Work on making your business concept easy enough to successfully get across in a small pitch, to someone who has no previous knowledge of the concept or even the industry your business will enter. If you can do that, you are well on the way to establishing the coveted success and longevity that every entrepreneur wants.
Earn while you establish the foundations
And even as you continue onto the building blocks – at least in the beginning. Again, having a business idea is great. But to get the business off the ground, you need the dedication, passion – and, more often than not (if not always), the money to get it going. Keep your day job. Yes, this requires hustling between doing well at the job you are currently in, and trying to get your own business off the ground, but ultimately having income the entire way through until you are making enough from your business to quit, is not only the smart move, but the best move you can make.