4 Laws of Successful Business

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Having a successful business is not always easy. Actually, the more your business becomes successful the more work you will have to do. Up until you get to a point where your staff can handle things. There are some steps to successful business. In fact, there are laws my friends. Four law that can really help you out if you follow them. These laws helped me out in so many ways! Now let me share them with you. And hopefully they can help someone out there as well.

The First Law: Leadership

You have to be strong minded my friends, a rock, a leader. You have to know how to lead without being afraid to fail. Without being someone who is feared. You have to know the difference between a boss and a leader. Bosses point their finger and tell people what to do. While leaders, led by example. There out there on the floor with their team beside them. You also have to be a leader in your industry as well. You want to be the one leading the pack and have your competitors following you. Being the innovators gives you some truly great competitive advantages.

The Second Law: Influence

Knowing how to influence for your customers, your prospects, your target audience. The key to influence is knowing your audience so well that you know what will influence them. All this mean is you have to really engage with them. By social media, in store surveys, and giving them a place to gather. That can be your store or a website. If you can gather them in one place or know where that place is. You can watch and learn what they like, what moves them, and what gets them engaged. All this information you would be able to gather would allow you to influence your audience my friends.

The Third Law: Results

The results are everything in business my friends. Your customers will be looking for you to provide them with results. Weather it’s with the quality of your products or services. You have to be willing to go above and beyond to exceed customer expectations my friends. This is how you go about building trust and loyalty within your relationship between you and your customers. If they know they’re getting your all and very best. They’ll stay loyal to the business. If you give your customers, the results they are looking for than you’ll get the results you’re looking for.

The Fourth Law: Leverage

You want to use all of your leverage to improve your business. You want to be able to max out your business efficiency and scalability my friends. Use your leverage to build systems and use and technology to help streamline your business operations. Doing so will increase the business productivity and multiply its impact as well. Leverage can be amazing if you know how and when to use it my friends. Keep that in mind once you get the leverage in your business my friends.

Bonus – Why Business Fail

Why businesses fail

  Today we are getting right to the good stuff my friends. Everyone is always talking about how to start a successful business well, today we are getting into the does businesses even fail. A smart person once said “a smart person learns from their mistakes, but a wise man learns from other mistakes “.  So, let’s jump into some of these mistakes my friends.

Not having a competitive advantage

When you first start a business, you should have done your homework on your competition my friends. You need to know what the good at and where they are weak/need improvement. You take that information and use it to your advantage. Not doing this will likely lead to failure my friends. Know your competition weakness should give you a competitive advantage.

Not having a strategy

If you don’t have a strategy going into business, what are you doing going into business? You need to have a plan for success. You will need a strategy for the future if the business grows beyond your idea of success. Not having a strategy is another result of failure.

Not understanding your market needs.

Don’t go open up a coffee shop when your place of business is surrounded by a Starbucks and 2 neighborhood coffee shops. Instead you should be opening a donut shop. You not understanding your market is crazy my friends. Research your market before you get to far ahead of yourself my friends, or failure maybe in your future.

Lacking in business acumen

Not really understanding how businesses is should be done or ran can be a huge factor in the success of your business. And people who start businesses with a lack of business acumen most likely will fail.

Hiring the wrong people

Let me tell you a TRUE story my friends. I lived in a place that wasn’t so nice. Anyway, one day someone decided to open a Burger King across the street. And they hired a lot of people from my neighborhood. My friends’ people were selling frozen burger patties out the back door. True story my friends, the business was gone in no time. So, making that mistake will definitely have your business closed.

Growing too fast

Sometimes your success can be your failure my friends. Scaling too fast can be bad if your not ready for it my friends. That’s a scary truth that.

Not being able to adapt

If you have a clothing store you will have to adapt to what people are looking for. Meaning you might have to find new vendors or step of your creativeness. But you have to adapt, if not close up shop my friends.

Doing too much

Trying to do too much can be a downfall for sure. You need to be able to do one thing really well. Trying to do too much with low quality is not a plan for success.

No passion for what you’re doing

If you don’t enjoy what your doing , it will be easier to give up on what your doing my friends. Starting a business will be hard enough you should at least enjoy the ride my friends.

Fear

That’s right my friends fear can kill the dream before you even go to sleep. It’s scary jump into something new or putting yourself out there. No risk no reward my friends.

  There you have it my friends my reasoning why businesses fail. This sounds like a negative title but writing this motivated me! I want to do more now, go harder, and face my fears. I hope this gave you this same feeling out there. As always research my friends before you do anything. Good luck.

Summary

These laws really helped me run my business in a way that really helped me become successful. I had to really put in the effort to be a leader and not just a boss. Knowing the importance influence really helped me to build up our relationship with our customers as well. Giving my customers the best results possible really gave my businesses the best results. Lastly learning how and when to use our leverage smartly has help in so many ways! I’ll have to do a whole another post with them stories my friends. I’m super thankful for your time today my friends! Please come again. Tell your friends about the blog please! Let me know which one of these are the most important to you, my friends.