Statistics have revealed that most businesses fail to make it past the first two years and among those that do, only a small fraction survive beyond the fifth year…
The statistics are consistent.
The question then becomes “how do you ensure your business thrives in the face of these alarming statistics?” Beginning this month, our focus in Kingdom Business Classroom will be centered on starting your own business – be sure to read every lesson and ask questions where you’re in doubt. I’ll also be sharing useful resources to help you on the journey.
I’ll share three things you need to know if you want to start and run a thriving business in the paragraphs that follow.
Let’s get to it.
No. 1 – A business is about solving problems, not just about making money.
It is essential that you understand that a business is about solving problems and getting rewarded for doing so.
Unfortunately, many people forget this fact and focus only on making money which is supposed to be part of the reward and as a result…
they become desperate and typically show less concern for the needs of the people who are supposed to pay them.
The end result is an array of dissatisfied customers who discourage others from doing business with them rather than become evangelists of the business – they wind up broke.
No. 2 – A Business is about serving people – not your interests.
It’s okay to bring your uniqueness to the marketplace – you should. But if you want to start and run a business that makes money, you’ll have to learn how to work with and pay attention to people.
Some entrepreneurs spend their time doing what they think the people will love and wonder why they don’t get ahead much.
I’ve made this mistake in the past and guess what I got for it every time… a lean purse and a broken heart.
You know that feeling you get when you’ve put in so much effort to put a smile on someone’s face only for them to be dissappointed?
Exactly! That’s how it felt.
Here’s what you should do if you want to start and run a successful business.
Pay attention to the people you’re serving.
Sometimes, your thoughts could be wrong. Use every available medium to help you pay attention to those you’ve set out to serve and identify the problems they’re trying to solve so that you don’t create products and services they’re not interested in.
No. 3 – A Business will take more from you than it will give to you – at the beginning.
While many people who intend to start and run a business often look at only the rewards – especially monetary and time freedom, it is essential for you to know that at the beginning stages, your business will demand more from you than any paid employment would.
You must be willing to spend money on your business than it gives back to you at the beginning stages.
Be willing to give as much as 70 – 100 hours every week to building your business at the beginning stages.
This will significantly impact other aspects of your life.
Your job is to find a way to strike a balance – giving your business the attention it requires and not neglecting the significant relationships in your life.
While this might mean less time out on weekends and lots of late nights, it would also mean maximizing every opportunity you get to spend with the people in your life.
There you have it – three things you need to know if you want to start and successfully run your own business.
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Get FREE ACCESS to Kingdom Business Classroom today and join us for this insightful series on starting your own business as well as other eye opening lessons to help you take charge of your financial destiny by clicking the link below;
Remember your financial destiny is in your hands, take it seriously.
Take Charge of Your Financial Destiny.
God Bless You
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If you have any questions, feel free to ask and I’ll be glad to help you out.