Is there a magic formula for business success? Is there a secret X factor which will transform your business? Are you missing out?
Business gurus have the secret formula for business success? At least they think they do. Have you been to one of their presentations? Have you watched their videos? Have you read their books? The promise is generally the same: – Instant Fix, Financial Freedom, Guaranteed Success, Unlimited Earnings. All you need to do is like them, follow them, copy them and pay them a lot of money and you too, will be able to share their success. Or will you?
Question – What are business gurus actually selling? Is it a recipe for success or simply their brand recipe for selling themselves?
Free yourself from those nasty little self- limiting beliefs and you will unleash your potential. Believe in yourself and all will be well. If you have a big dream, throw that into the mix, too. Never mind that you don’t have the skills or resources to proceed, all will be will because you are truly amazing.
Sounds simple, right? So simple in fact, that it is astonishing how little impact positive thinking really has, even on those who practise it ad nauseam. Surprising that with all those uplifting thoughts, we are not positively levitating with the excitement of it all.
Question – What put’s food on the table? Positive thinking or practical food foraging skills?
Persistence, Grit, Determination, Tenaciousness.
In the face of adversity, keep going. When the going gets tough, the tough get going. If you have no sales, don’t fret, just keep banging away at those closed doors. The ability to hang on in there in spite of all evidence to the contrary, is the most desirable trait of business people. Or is it?
There are plenty of suppliers out there who will be happy to part you from your last pound with a promise of success in sales. The more you spend, the greater your psychological investment in success and the harder it is to recognise when to quit. Many businesses fail only when the owners have exhausted every last line of credit and have run out of their persuasive power with unpaid suppliers. The writing was on the wall in big bold letters, but that grit and determination, stopped the business owner from reading it.
Question – Are you so emotionally invested in your business success that you are overlooking hard business facts?
So, if business guru adoration, inspirational quotes and self-affirming makeovers are not getting the results that you want, is there anything else you could/should be doing? Is it even worth searching for the elusive holy grail of business success? And if there is such a formula, How much is it and where can you get it?
The good news is that there probably is a (simple) formula for business success. The bad news is that simple is not the same as easy.
But in the spirit of optimism, here it is:-
Simple Recipe for Business Success
A product or service that you can sell in sufficient quantity at a high enough price to pay you the salary that you want and generate enough profit to fund growth.
Enough vision and positive mental attitude for you to believe that success is possible.
Enough skills, funding and equipment to at least float your boat out of harbour and into the open sea.
Plus (and this is the MAGIC bit)
Sound Business Judgement.
Little decisions, little judgments, the slightest of inclinations to one course of action or another are each a turning point in the business maze, taking you further away or nearer your business goal. The ability to weigh up, evaluate, compare options, assess risks, make realistic assumptions, face uncomfortable facts, judge other people, respond to uncertainty – these are the skills of sound business judgement. Under rated, little discussed, omnipresent, all powerful. The skill of Sound Business Judgement. Now that might be worth thinking about.
Question – How good is your business judgement?
Do you think there is a formula for Business Success. Share your thoughts in the Comments section below.