3 Essential Elements of Operating a Successful Business By Michael Brassil
Have you ever imagined what it would be like to live your dream?
A good place to start would be to recognize that there are threeelements, and only three elements, that separate success fromfailure.
If you exercise one of the elements, you might just besuccessful.
Two and you will probably succeed.
Three, and you canpractically guarantee your success.
What are they?
They are deceptively simple, and deep down insideyou know what they are.
But to purposefully write them down anduse them as guides in selecting your dream business will make allthe difference in the world.
As you go through this exercise, youwill dramatically build on your chances of success.
Nowhere willit count more than right here, deciding how many of the threeessential elements will qualify you to realize your dream.
1.
Find a need!Is there a market niche for your particular product or service?
Does the world, or even your community, need what you have tooffer?
Only by sampling and testing will you be able to determinethis with any degree of certainty, but we will be covering thisas we go along in greater detail.
The most important aspect wouldbe to determine a Unique Selling Proposition for your product orservice.
Too many business owners are just trying to be me-toocompanies.
You cannot be just like the next guy and expect toprosper in this volatile economy.
One of the most important things I learned from my Dad was, thereare really only two things to consider, and next to themeverything else is minor.
Those two things are: (1) What do youreally want?
And just as, and perhaps even more important, (2)Are you willing to do whatever it takes to achieve it?
What do you really, really want from this endeavor?
What is yourultimate goal?
Are you willing to do whatever it takes to achievethis goal?
Instead of looking for a business based on how muchmoney you can earn up-front, select a business based on your lovefor that endeavor.
The most successful and fulfilled people areindividuals who are following a dream or vision of their own.
They are not just out trying to make a buck.
What opportunities can you act upon?
Woolworth saw a need forsmall inexpensive items and opened the chain of stores thatgrossed billions.
Wrigley started giving gum away as a bonus, andseized the chance to expand worldwide.
You must create a uniqueness to your product or service.
What canyou offer that no one else can offer?
Is it a better warranty,improved customer service, more technical support, fastershipping, or lower price?
Think of something that will set youapart from your competitors and describe in detail exactly whatit is.
2. Be good at what you do.
Are you as good as, or better than, the next guy when it comes toproducing/marketing your product or service?
This elementrequires an honest self-assessment.
"What are my abilities?
" Todetermine your abilities you must take an honest inventory ofyourself.
Examine every possibility and be sure to includestrengths and weaknesses.
Will your strong points be able to letyou overcome your deficits?
3.
Have true passion for the business.
If there is one element you absolutely cannot do without, it ispassion.
Passion is an irresistible attitudinal energy thatgenerates power.
Do you have a passion for working with yourparticular product or service?
Notice, I didn't say "do you likewhat you want to do?
" There are too many competitors out therewho are ready, willing and able to "eat your lunch" when it comesto competing with you.
They may have found the same niche thatyou have found.
They may like what they do as much as you do.
Butwhat separates the winners from the losers is passion.
What are you really passionate about?
If your answer is, "I'mpassionate about making a lot of money.
" That is not the rightanswer.
Making a lot of money is consequence of engaging in asuccessful activity where you remain motivated long enough to besuccessful.
The key to creating passion is to find and do what itis that you truly love.
Passion is the laser-like focusing of ourcreative life force.
We do not create passion.
(Don't confusepassion with being a workaholic.
Workaholism devours whilepassion amplifies.
)So there they are, the three key elements to having a successfulsmall business.
About the author: Michael (Mike) Brassil is author of "The Only Business Start-Up Guide You Will Ever Need.
" Download two chapters - Starting a New Business and The Home Working Revolution - at: http://www.
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