Be A Business Success By Copying Other Successful Businesses.
Want To Boost The Success Of Your Business?
A Method Guaranteed To Bring Business Success.
Just 1% of all businesses and entrepreneurs are mega successful and only 10% of all business make a good profit and provide a good living and good retirement prospects for their owners.
That is the sad reality.
90% of businesses either fail or just drift along, languishing in mediocrity in terms of profits and performance & many never really achieve real business success.
Often the owners of those 90% of businesses cannot see how they can elevate themselves and their businesses to do better. Sadly, many of these entrepreneurs do not realize that the switch to become a member of the ‘10% CLUB’ of the 10% most successful businesses is much easier than they think.
For me, a successful business is one that is growing in sales with a good profit base and a strong balance sheet. The following sums up an ideal successful business:-
This is a very rough appraisal.
For me, a SUCCESSFUL BUSINESS is one that is growing and making money, but is also one where the owners are in full control and are happy and are enjoying running their business with a good life balance. A successful business entrepreneur should be able to draw a good income, leaving a good residue profit for re-investment and for building the balance sheet.
A successful business entrepreneur is one that could sell after, say 10 or 12 years, for a good reward that would allow them to retire or for a sum that would allow them to go a big way to providing for their long term.
Sadly, too many business owners do not find themselves in the scenario of the ideal successful business that I describe above. Many of the 90% of businesses have poor mediocre sales and profits with low or no growth. These owners find themselves stressed as a result and importantly they are not happy and are not enjoying the experience of running their businesses.
Many business owners would say that money is not important and I think that can be right, but I know from experience that a business is much easier to run and provides a much happier experience for the business owners if sales and profits are growing at a good rate of the order of 20% or more.
If you are a business owner, where growth in sales is flat and profits are poor, you should think that it is much easier to transform your business nearer to the scenario that I describe above than you possibly think.
If YOU want to make the change and to become a great BUSINESS SUCCESS, the place to start is to think that your business is about TWO FUNDAMENTAL PARTS:-
Harvard Business School has consistently said that business success is consistently down to ATTITUDE rather than STRATEGY. You can have the best business strategy and the best business plan but if your attitude is weak and negative, then your strategy is not going to work and YOU will never achieve real BUSINESS SUCCESS.
As the business owner, your business success is determined by YOU. So if YOU want to become one of the most successful business entrepreneurs and achieve huge business success, YOU have to change 'YOU'.
YOU have to become like the most successful in business.
PART 1 is YOU and includes:-
Part 1 includes your mind, your mindset, your attitude and your thinking and how YOU carry out your actions within your business.
The most successful business entrepreneurs all have the same mind characteristics and consistently have similar attitudes and mindsets. Consistently most successful entrepreneurs have the same qualities, such as:-
If YOU wish to replicate their business success, YOU need to develop the same MINDSET.
From my experience, the right business mindset starts with a STRONG, POSITIVE ATTITUDE, a HUGE PASSION for what they do, a BURNING DESIRE to be successful, a MASSIVE BELIEF in SUCCESS and a MASSIVE BELIEF in the ABILITY to achieve everything within the business.
GOAL SETTING is incredibly important for maintaining the right mindset. The most successful entrepreneurs in business all use goal setting and they always work hard to achieve their goals, with each goal achieved propelling them forward. By continually setting and achieving goals means the most successful are continually making progress.
The process of GOAL SETTING creates intense FOCUS which, in turn, creates DETERMINATION, PERSISTENCE, DRIVE, OPTIMISM and PASSION making it possible to do whatever is necessary in the business including STEPPING OUTSIDE THE COMFORT ZONE.
SUCCESSFUL ENTREPRENEURS don't FEAR FAILURE; importantly, many have experienced FAILURE and SET-BACKS. They view SETBACKS as part of the learning process and part of the process to achieving business success. Importantly, they learn from each experience and they never repeat the mistakes. Each one is very resilient and they don't linger on the setbacks. They shrug off the setback and get moving forward again, quickly.
The big consequence of all this is that SUCCESSFUL PEOPLE make QUICK and SMART DECISIONS, eliminating PROCRASTINATION.
SMART BUSINESS ACTIONS are then the result creating good outcomes which drive their businesses forward, ultimately generate great profits.
The TOP 10% most successful business entrepreneurs have many of the above and if YOU can replicate these qualities, then YOU should be SUCCESSFUL, too.
And, that will help YOU achieve PART 2.
PART 2 is YOUR BUSINESS and your BUSINESS STRATEGY.
Having the right BUSINESS MIND allows the most successful in business to set and execute the BEST BUSINESS STRATEGY and the BEST BUSINESS PLAN for their businesses. In my view, LASER FOCUS derived from having the RIGHT BUSINESS MIND becomes highly effective in the key areas of the business:-
The most successful ENTREPRENEURS in business UNDERSTAND FULLY their TARGET CUSTOMERS, their COMPETITORS and their TRADING MARKET. This allows them to provide the RIGHT PRODUCTS and the RIGHT CUSTOMER SERVICE and to deliver the right benefits for a HUGE ARMY OF LOYAL CUSTOMERS and to ultimately create EXCELLENT CUSTOMER EXPERIENCES.
The most successful are also continually creating MARKETING that builds a STRONG BRAND and delivers more CUSTOMERS and more SALES. They also FOCUS heavily on employing the RIGHT STAFF and training and treating them RIGHT and on creating STRONG SYSTEMS to run their businesses effectively and efficiently.
Importantly, they also FOCUS heavily on the the MONEY within their businesses and FOCUS on generating PROFIT and keeping their businesses CASH RICH.
All of this is possible because of a STRONG BUSINESS MIND, i.e. PART 1.
PART 2 is possible because of PART 1.
So for YOU to become one of the MOST SUCCESSFUL in business, YOU need first a STRONG BUSINESS MIND and that will allow YOU to RUN your business much better.
The most successful in business do this and YOU can do the same - YOU just need to decide that YOU will do it.
It could be much easier than YOU THINK to become a member of the '10% Club'.
This website is full of useful business articles and features to show YOU how to BECOME A MEMBER OF THE ‘10% CLUB’, so if you are serious about your future, then please take the time to explore it.
To start, YOU should read the following articles that link into this article:
If you wish to talk to me more about this, then please contact me: Robert@prestigebusinesscoaching.co.uk or leave a comment below:-
In previous articles, I described how to acquire a STRONG POSITIVE BUSINESS MIND, MINDSET and a STRONG POSITIVE ATTITUDE and I described how to use the POWER OF THOUGHT and SMART BUSINESS THINKING to make your thinking more creative.
A strong business mind and smart business thinking jointly will combine to make your ACTIONS within your business become MUCH BETTER.
This is why the top 10% most successful entrepreneurs achieve far greater BUSINESS SUCCESS than the other 90%.
They have SMART BUSINESS ACTIONS.
These SMART BUSINESS ACTIONS then deliver results that add CUSTOMER NUMBERS, SALES and PROFITS etc. over time to their businesses thus creating huge BUSINESS SUCCESS.
But because the top 10% entrepreneurs have spent QUALITY TIME on QUALITY SMART BUSINESS THINKING, most, if not all, of their ACTIONS are RIGHT for their businesses and their actions deliver the RIGHT RESULTS for their businesses.
They have become one of the most successful entrepreneurs by changing their actions.
The SMART BUSINESS THINKING of the top 10% entrepreneurs is CREATIVE and INNOVATIVE which means that their SMART BUSINESS ACTIONS are also CREATIVE and INNOVATIVE, too.
Their SMART BUSINESS ACTIONS will always be focused on their CUSTOMER with the aim of continually creating ways to build and maintain an army of loyal and happy customers, who always want to buy their products, keeping them ahead of the competition.
The top 10% of the most successful entrepreneurs make DECISIONS very quickly and they always attach GOALS to each DECISION and create a STRATEGY for implementation. By doing so, each DECISION is EXECUTED QUICKLY and in the RIGHT WAY.
Once the top 10% entrepreneurs make a DECISION, it is implemented - they work with URGENCY and don’t DELAY or PROCRASTINATE as they know DELAY is MONEY.
The top 10% entrepreneurs always MONITOR and MEASURE PROGRESS with all their SMART BUSINESS ACTIONS. If things are not progressing RIGHT in accordance with their STRATEGY, they are never afraid or slow to change or modify the strategy.
The top 10% are always MORE ORGANIZED in their lives and their businesses and this leads to greater EFFICIENCY & EFFECTIVENESS. This means that they can achieve MUCH MORE with less effort and in less time than one of the 90%.
As a result of being more ORGANIZED and more EFFICIENT, generally the top 10% of the most successful entrepreneurs are less STRESSED and are more HAPPY; and this is important - STRESS and UNHAPPINESS can affect your health significantly. Also HAPPY businesses always trade better and if the boss is happy, then so should the rest of the business be happy, too!
The top 10% most successful entrepreneurs always create clear and precise STRATEGIES for the major parts of their businesses:-
For each STRATEGY, OBJECTIVES will be set as part of their business plan and these will be achieved by the setting and achieving of several GOALS.
The Top 10% most successful entrepreneurs always RESEARCH everything within their businesses and this leads to a SUPREME UNDERSTANDING of their businesses. Then, through SMART BUSINESS THINKING and SMART PLANNING and the setting of SMART STRATEGIES, they are able to execute SMART BUSINESS ACTIONS.
I call this RUTPA, an acronym for:-
RUTPA is a big part of every successful entrepreneurs arsenal and a big contributor to their BUSINESS SUCCESS and YOU should do the same.
This is a rough snap-shot into how effective SMART BUSINESS ACTIONS can be for driving BUSINESS SUCCESS.
But, it is important to realize that ACTIONS will only be SMART as a result of having acquired a STRONG POSITIVE BUSINESS MIND and a STRONG POSITIVE ATTITUDE and from using the POWER OF THOUGHT and SMART BUSINESS THINKING.
Generally the stronger your BUSINESS MIND and the better your SMART BUSINESS THINKING and the more time that you can devote to it, the better your SMART BUSINESS ACTIONS will be, the the better your business will trade and the greater your business success will be.
Have a STRONG BUSINESS MIND, SMART BUSINESS THINKING and SMART BUSINESS ACTIONS and YOU should over time be able to boost your BUSINESS SUCCESS and enter the '10% CLUB' - the 10% of most successful entrepreneurs.
In short, you should become one of the most successful entrepreneurs.
There is plenty more on this site regarding SMART BUSINESS ACTIONS.
If you wish to discuss this article further with me, please email me at Robert@prestigebusinesscoaching.co.uk or contact me here:
You must have full CONTROL of your business for success.
The very best in business and the most successful in business always have TOTAL and FULL CONTROL over every part and every aspect of their business.
And, that CONTROL allows them to be VERY SUCCESSFUL.
Only 10% of businesses are successful and make it into what I call the '10% CLUB' - if YOU are to make it into the ‘10% CLUB’ - you need to replicate the ways that they achieve success.
FULL CONTROL OF YOUR BUSINESS FOR SUCCESS is one aspect to look at.
But many entrepreneurs running small and medium sized businesses struggle to achieve TOTAL and ABSOLUTE CONTROL.
Many entrepreneurs start because they have a PASSION for a particular product and, this is where their FOCUS lies.
They develop great PRODUCTS but often their FULL FOCUS stops there.
They seem to forget that a business comprises MANY PARTS and the PRODUCTS are just ONE of those PARTS. They forget that the other PARTS must RUN very efficiently to support the SALE of those PRODUCTS.
They have LESS FOCUS on these other PARTS, often, because they don’t find these PARTS so interesting or these parts of their business take them outside their COMFORT ZONES.
For business success. you cannot 'cherry-pick' what you do and don't do.
One BIG PART that often receives LESS FOCUS is the BACK OFFICE and the necessary PAPERWORK that is associated with it.
This is something that many people seem to struggle with - they simply don’t enjoy it and they would rather put their efforts into the PARTS that they enjoy.
Each small and medium sized business can be divided generally into the following SEVEN GENERAL PARTS:-
Every business has ALL of the above, unless YOU have NO EMPLOYEES.
Every PART is as important as the other PARTS within the business.
If YOU are to OPTIMIZE your BUSINESS SUCCESS and your BUSINESS PROFIT every PART must be RUN to its BEST - If ONE PART is run LESS WELL, then this will affect the WHOLE BUSINESS.
As a business owner, YOU must THINK that YOU must put equal FOCUS into each PART of your business and YOU must make sure that each PART is run as well as YOU can possibly RUN it.
When YOU achieve that, YOU will have FULL CONTROL of your business.
YOU must THINK that FULL CONTROL is needed for the SUCCESS of your business and YOU will only achieve FULL CONTROL by CONTROLLING EACH PART of your business, NOT just some of the parts.
BY CONTROLLING EACH PART, YOU ACHIEVE TOTAL CONTROL.
The place to start with attaining FULL CONTROL is to THINK about the SEVEN PARTS of your business and analyze EACH PART and estimate how well each part is RUN.
YOU should be very critical of EACH PART and see where your STRENGTHS and WEAKNESSES are and YOU must correct the WEAKNESSES of each PART.
When YOU have ALL SEVEN PARTS RUNNING to their BEST, then YOU will have FULL CONTROL and, once this is in place, YOU must make sure that YOU retain this CONTROL.
Poor CONTROL of your business can lead to FAILURE in the most severe of cases, so ACT now, before it becomes too serious and too late.
Do it now, today - start to think about your 7 business parts and take back CONTROL OF YOUR BUSINESS.
If you wish to discuss this article with me more fully, please email me at Robert@prestigebusinesscoaching.co.uk or leave a comment below.
When asked, the most successful business people say that a strong, positive attitude has been more important to their success than their ability. Havard Business School has consistently reinforced this view by saying that a strong mental ability is more important than ability for attaining meaningful business success.
So how positive is your mental attitude?
Having a strong, positive attitude can give you much including having strong mental and physical energy, more clarity in your thinking and more creativity in your thinking and your actions. You will also bounce back quicker from set-backs, have a greater influence on everyone in your life, including your customers and your employees and, importantly, be less stressful.
Generally, the more positive that you are, the more successful you will be in your business. The most successful in business often put their success down to their positivity, so if you want similar business success, you have to create greater positivity and develop a strong positive attitude, yourself.
I have found the following 7 simple ways work really well to create and enhance a strong, positive attitude:-
Being OPTIMISTIC is a great boost to POSITIVITY and can come from belief in your own ability to succeed and the confidence to know that you will succeed.
If you have doubts about your success, keep saying to yourself: “I CAN DO THIS.”
KICK OUT NEGATIVE THOUGHTS
If you have doubts in your ability, these are NEGATIVE THOUGHTS and these along with other negative thoughts will diminish how POSITIVITY.
Whenever you have a negative thought enter your mind, you should think to ‘KICK IT OUT’ and replace it with a POSITIVE or a HAPPY thought.
LOOK TO THE FUTURE
You should always look to the future and NOT THINK about the past - what has happened has happened and is the past and worrying about it will deflate your POSITIVITY.
Try thinking about your goals and targets in the future rather than worrying about the past.
DON’T HAVE PROBLEMS
Positive people don’t have problems, instead they have CHALLENGES and rather than thinking: “I can’t do that”, they instead think: “This is going to be difficult, but how is the best way to proceed?”
SEE THE GOOD IN EVERYTHING
Try and think that something GOOD always comes out of something BAD and always try to see the good in everything. Life does not always go to plan and there will be set-backs and you will make mistakes, but don’t dwell on these, instead bounce back quickly and continue to move forward.
You should analyze what went wrong and learn from the situation and don’t repeat the mistake.
LEARN FROM YOUR MISTAKES
Successful people think that failure, set-backs or mistakes are all part of learning and are part of the success process and you must think the same.
Set-backs are there for a reason and you should see the good, positive side in every one. You should think that every mistake or set-back has a lesson for you in how to achieve your business success. You should learn from each and move on.
BE GRATEFUL FOR WHAT YOU HAVE IN LIFE
Many of us are luckier than we possibly think. We often don't stop and take stock of our lives and think about what we have and what we have achieved. This could be family or this could be career, anything really.
It is good to have a vision for your life and for your business ambitions, but too often we concentrate on what we don't have rather than what we do have and that can lead to feeling depressed or negativity.
THESE WAYS DO WORK
These ways to do work:
It takes a short while to develop these ways, but believe me these do work when put together. Just change your thinking to be more positive and you will be surprised how much better you start to feel.
If you would like to talk more about this article with me, please contact me at Robert@prestigebusinesscoaching.co.uk. or contact me here:
If the answer to any of these questions is no, then you are missing a trick to sell more of your products.
Businesses like Tesco, Marks & Spencer, Ford, Dyson and products like Mars Bar, Fairy Washing Up Liquid are STRONG brands, which means most people have heard of them.
These BRANDS, by and large, are famous for providing high quality and, as a result, they instil trust in their customers and in new customers to come and buy.
Which means being a BRAND is very powerful - being a BRAND with enhance the BUSINESS SUCCESS of any organization.
Whether you are a start-up or an established business, it is possible to BUILD A STRONG BRAND and thus create a STRONG BRAND IMAGE for any business and for any product, including making both your business a STRONG BRAND NAME and your products a STRONG BRAND NAME, and a BIG OBJECTIVE, as part of your BUSINESS PLAN, must be for you to deliberately create a STRONG BRAND IMAGE for your business and your products.
Why should you BUILD A STRONG BRAND?
There are SEVEN advantages to creating a STRONG BRAND IMAGE and SEVEN REASONS why you should create a STRONG BRAND IMAGE.
Recognition is important - if your product is on a shelf in a shop, for instance, and it is next to a similar product that is less well known, then people are more likely to recognise your product and are more likely to buy your product as opposed to the other product.
When you build a strong brand you create recognition.
People often will not buy a product unless they know something about that product and have trust that it is right for them and will bring them the benefits that they want. Trust is something that is built up over time, but by being a recognised brand that people recognise immediately, then they are more likely to trust that product and will buy it.
When you build a strong brand you create trust.
Being a STRONG BRAND sends out a STRONG MESSAGE to your target customers that this product is bought by many other people and it brings benefits that these people want, need and enjoy. If a target customer thinks that a certain product brings benefits for other target customers, he or she might well think that it will bring benefits to them, as well.
When you build a strong brand you create the impression that many people trust it and buy it.
A STRONG BRAND will do much of its own SELLING and MARKETING respectively, which reduces your need to SELL and MARKET your product and thus this reduces the time, effort and money to SELL and MARKET, so reducing your marketing costs and enhancing your profits.
STRONG BRANDS will SELL themselves and STRONG BRANDS will MARKET themselves.
STRONG BRANDS usually have GREATER SALES, so YOU must think that A STRONG BRAND IMAGE for your business and products will create STRONGER SALES and STRONGER PROFITS for your business.
When you build a strong brand you create the potential for higher sales.
By being a recognised BRAND, that is trusted, YOU can command a higher price for your PRODUCTS, which in turn will drive up your PROFITS.
When you build a strong brand you create the ability to charge more for your products.
So, SEVEN very powerful reasons for you to create a STRONG BRAND out of your BUSINESS NAME and your BUSINESS PRODUCTS.
YOU must say to yourself now:
“My OBJECTIVE must be to BUILD A STRONG BRAND and to create a STRONG BRAND IMAGE for my business and for my products that people will instantly recognise and trust”.
Do it today - include it in your BUSINESS PLAN and include it in MARKETING.
If you would like further advice on this, please contact me: firstname.lastname@example.org
or contact me here:
Here are THREE QUESTIONS every business owner should ask themselves about their BUSINESS MARKETING.
If their MARKETING does NOT reach their TARGET CUSTOMERS, business owners cannot tell their TARGET CUSTOMERS about their businesses and their PRODUCTS and if the MARKETING is NOT TARGETED, then this MARKETING is being wasted.
Say, for instance, YOU sell golf clubs and YOU advertise in a local newspaper, the chances are your MARKETING is wasted. Maybe less than 1% of the readers to that newspaper would play golf and would be interested in buying golf clubs.
This form of MARKETING would NOT BE TARGETED - but, it constantly amazes me that this sort of MARKETING is used, when the number of TARGET CUSTOMERS is really small.
If, instead, YOU were to advertise your golf clubs in a golfing magazine or on a golfing website, your MARKETING would be far more TARGETED, simply because most of the readership would be players of the sport. In this case, there would be a HIGH NUMBER of your TARGET CUSTOMERS seeing your advertisement.
This is TARGETED MARKETING.
The prospects of selling golf clubs to the readers of a golfing magazine are far greater than to the readers of a local newspaper.
Whatever your business and whatever your product, your MARKETING must directly reach your TARGET CUSTOMERS, and these TARGET CUSTOMERS must see your MARKETING, for your MARKETING to work.
In other articles, I have said that YOU MUST KNOW AND UNDERSTAND YOUR TARGET CUSTOMERS - by doing this, it should tell YOU WHO YOUR TARGET CUSTOMERS ARE AND HOW TO REACH THEM WITH YOUR MARKETING.
So, stand back and ask yourself the 3 QUESTIONS that I posed at the start to this article;-
Businesses that target their customers better always see greater sales, greater profits and greater business success.
Whether you are an established business or you are starting a business, make sure you get your Business Marketing Right
If YOU wish to discuss this more fully with me, please email me at Robert@prestigebusinesscoaching.co.uk or leave a comment here: