You’ve seen businesses come and go. Startups crash and burn. Ideas that sound great sometimes fail and others that sound so simple become billion dollar companies. What separates winners and losers? How do you join or create a winning team, and stay off the Titanic of the future?
Here are some of the keys to surviving in business and living to see another day:
Understand what your Business Model is and operate in it. For starters, here are the 4 main areas of a business:
For starters, here are the 4 main areas of a business:
If this is new to you, you would do good to read “Business Model Generation” by Alexander Osterwalder & Yves Pigneur.
One of the other keys to business success is to focus on Strategy rather than Tactics. I know that Strategy is a common buzzword, but it is important. Don’t be mislead though. Tactics are also extremely important when they fit your correctly within your strategy. Here is a quick definition of the two terms:
Strategy – Your strategy is a strong, overarching plan created to systematically achieve your long term purpose. Along the way you create mileposts, and in between the mileposts are short term goals or objectives. Your goals may be modified, but your strategy remains the same, except for pivot points you chose along the way chosen by metrics that show your chosen strategy is being ineffective.
Tactics are techniques and tools you use along the way to assist you in reaching your goals and objectives. They are discarded if they do not fit into your overall strategy.
For serious students of business, make sure you have read the e-Myth by Michael Gerber. Yes, I realize that is an “old” book, but some books are classics which are based on principles which are evergreen. Books like The Fifth Discipline by Peter M. Senge, which requires serious discipline just to read the whole tome.
If you are interested in learning the principles of entrepreneur success laid out in an easy reading manner, ask and I’ll send you a copy of my own book, More Power, an Entrepreneur’s Roadmap to Success. It has been endorsed by the late Jay Conrad Levinson, author of the book Guerilla Marketing (a book covering many tactics) which sold over 42 million copies. Just complete the form below and I’ll send you a free copy of More Power, if you are in the United States. (for other countries, I’ll send the book for free but let you pay the postage).
Send for your free copy of my book More Power, An Entrepreneur’s Roadmap to Success: