Tag: smart business thinking

Become One Of The 10% Most Successful Businesses

Become-One-Of-The-10-Most-Success-In-Business Become One Of The 10% Most Successful Businesses

Become One Of The 10% Most Successful Businesses & A Member Of The '10% Club'.

Transform Your Business Success By Changing Your Mind, Changing Your Thoughts And Changing Your Actions.

Copy The Ways Of The Most Successful In Business.

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.

What Is A Successful Business?

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:-

  • sales and net profits should be growing by at least 20% per annum, year on year
  • sales should exceed £100,000 per annum in year 2 after startup
  • sales should exceed  £0.5 million - £1 million per annum after 10 years
  • net profit should exceed 20% of sales
  • business should have a strong 6 digit cash-rich balance sheet after 5 years of trading
  • business owners should have full control over the business
  • business should run efficiently with low wastage
  • business should have a strong team of happy & effective employees
  • business owners should be happy and not be stressed
  • business should provide a good living and a good pension for the owners
  • business should retain a good profit after owners' drawings
  • business owner should run the business & the business should not run the owners

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.

Too Many Business Owners Do Not Enjoy This Scenario

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.

You Must Think Of Your Business As Being Two Parts

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:-

  • PART 1 IS YOU & YOUR ATTITUDE
  • PART 2 IS YOUR BUSINESS STRATEGY

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 Change 'You' As Part 1

YOU have to become like the most successful in business.

PART 1 is YOU and includes:-

  • YOUR MINDSET
  • YOUR ATTITUDE
  • YOUR THINKING
  • YOUR ACTIONS

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:-

  • GREAT PASSION
  • BURNING DESIRE FOR BUSINESS SUCCESS
  • HUGE BELIEF IN THEIR BUSINESS SUCCESS
  • GREAT EXPECTATION OF THEIR BUSINESS SUCCESS
  • BIG BELIEF IN THEIR BUSINESS ABILITY
  • STRONG POSITIVE ATTITUDE
  • GREAT DETERMINATION, DRIVE & PERSISTENCE
  • MASSIVE OPTIMISM
  • SETTING OF GOALS
  • MASSIVE FOCUS
  • POSITIVE THINKING
  • SMART BUSINESS THINKING
  • GOOD DECISION MAKING
  • NEVER PROCRASTINATING
  • SMART BUSINESS ACTIONS
  • ABILITY TO STEP OUTSIDE THEIR COMFORT ZONE
  • NO FEAR OF FAILURE
  • ABILITY TO LEARN FROM THEIR MISTAKES
  • ABILITY TO REBOUND QUICKLY FROM SET-BACKS

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

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:-

  • UNDERSTANDING THE TARGET CUSTOMERS & THE TRADING MARKET
  • BUILDING AN ARMY OF LOYAL CUSTOMERS
  • CREATING THE RIGHT PRODUCTS FOR THE TARGET CUSTOMERS
  • CREATING A STRONG BRAND
  • DELIVERING AN EXCELLENT CUSTOMER SERVICE
  • CREATING AN EXCELLENT CUSTOMER EXPERIENCE
  • HAVING HIGHLY EFFECTIVE MARKETING
  • DRIVING HIGH SALES & HIGH PROFITS
  • EMPLOYING & TRAINING THE RIGHT STAFF
  • CREATING EFFICIENT BUSINESS SYSTEMS
  • RUNNING THE BUSINESS EFFECTIVELY & EFFICIENTLY
  • CREATING A MONEY RICH BUSINESS
  • HAVING FULL CONTROL 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.

Become-One-Of-The-10-Most-Success-In-Business Become One Of The 10% Most Successful Businesses

You Can Become Very Successful

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:

Have-A-Strong-Positive-Business-Mind-300x160 Become One Of The 10% Most Successful Businesses

Have-Smart-Business-Thinking-300x160 Become One Of The 10% Most Successful Businesses

Have-Smart-Business-Actions-300x160 Become One Of The 10% Most Successful Businesses

If you wish to talk to me more about this, then please contact me: Robert@prestigebusinesscoaching.co.uk or leave a comment below:-


Contact-Robert Become One Of The 10% Most Successful Businesses


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For Greater Business Success, Change Your Thinking

For-Greater-Business-Success-Have-Smart-Business-Thinking-600x319 For Greater Business Success, Change Your Thinking

For Greater Business Success, Change Your Thinking.

Think As The Most Successful In Business Think.

Create Smart Business Thinking.

I am absolutely certain you WANT GREATER BUSINESS SUCCESS and it could be easier to achieve than you think.   It is possible to enhance your business success through the power of thinking and positive thinking.

Yes, by changing your thinking!

You can enhance your thinking by thinking as the most successful in business think.

The 10% most successful entrepreneurs always devote at least 90 minutes of each day to have quality ‘THINKING TIME’  Here, they will think about growing their sales, profits, business success and generally driving their businesses forward.  Such positive thinking is imperative, if a business is not to stagnate or become mediocre.

It is very easy to get bogged down with the ‘day to day’ running of a business;  then it becomes very difficult to have time to think about how to grow and improve a business.

This is what the many in business experience.

When I visit such businesses, I constantly hear “I have not got time...”

These businesses would have time, if they were better organized, more efficient and better disciplined.  The top 10% of business entrepreneurs are supremely well organized and disciplined and this allows them to have quality ‘THINKING TIME’ and, because of this, their businesses are constantly being driven forward and many achieve massive business success.

 

The Thinking Of The Top 10% Entrepreneurs Is Very Different

But the THINKING for the top 10% of entrepreneurs is also DIFFERENT in several ways.

Fundamental to all their THINKING is the POWER OF THOUGHT;   this is the ENGINE that drives the THINKING PROCESS.

 

Think & Grow Rich

Napoleon Hill in his best selling 1939 book ‘THINK & GROW RICH’ says that “YOU BECOME WHAT YOU THINK ABOUT”  If YOU think something enough, YOU can become what YOU think.

Many of the most successful entrepreneurs have used this THINKING PROCESS, as outlined in Napoloeon Hill's book, to become a business success and to become rich;  they decided they would become ‘RICH’ and through THINKING about being RICH, they have achieved it.

'Think & Grow Rich' by Napoleon Hill is still available in print and available from Amazon  and I thoroughly recommend you read it.

 

This Is Called Programming The Mind

The process is called PROGRAMMING THE MIND and I described briefly how it works in my article ‘Have a strong positive mindset for greater business success'

Once you have PROGRAMMED YOUR MIND to think that you will have GREATER BUSINESS SUCCESS and become RICHER, your THINKING will change and you will start to THINK DIFFERENTLY in the same way that the top 10% of business entrepreneurs THINK.

 

The Thinking Of The Top 10% Is Different In Two Ways

The THINKING of the top 10% is different in TWO WAYS:-

  • HOW THEY THINK
  • WHAT THEY THINK

In short, their THINKING is VERY CREATIVE, VERY ANALYTICAL and VERY INNOVATIVE and they THINK ‘OUTSIDE THE BOX’ -  they will dissect everything within their businesses and analyze everything in the greatest of detail.

Let me give you some examples of how their THINKING works.

 

Customers For Your Business

The most successful in business THINK about their customers is very different way to the rest in business;   they THINK that without customers they have no business and no profits, so they design their whole business around the wants and needs of their customers.

They set out to know exactly who their target customers are and they study these target customers in great detail.  This knowledge and understanding allows them to understand exactly what benefits their customers want and need from their business and in particular the following:-

  • Products
  • Customer Service
  • Customer Experience
  • Prices
  • Customer communications

These entrepreneurs will even go further and try and understand the psychology of their customers and try to think as their customers do;  by doing this they can provide exactly the right products, the right customer service, the right customer experience at the right prices.

Part of the process is to continually review and measure the processes involved;  for instance, they will constantly monitor how happy their customers are with their products and their service and when things go wrong, the situation is rectified very quickly.

They also think about creating an army of loyal customers who keep returning to buy more and more, repeatedly and of turning their customers into advocates as a definite strategy.

This THINKING creates a heavy FOCUS on the TARGET CUSTOMER and ensures that everything that their customer receives from their business is exactly RIGHT and of the HIGHEST QUALITY.

If you WANT GREATER BUSINESS SUCCESS, you must think differently about your customers.

 

 

Marketing Your Business

The most successful in business also think differently about the MARKETING.

They set out to create and maintain a STRONG BRAND through their marketing and everything else that they do.  But also they make sure that through their understanding of their TARGET CUSTOMERS, they can target them very efficiently with the RIGHT MARKETING and effectively convey the right message.

Again, they constantly measure the effectiveness of their marketing to ensure it works right and is cost effective.

If you WANT GREATER BUSINESS SUCCESS, you must change your marketing.

 

Money In Your Business

They are constantly thinking about their BUSINESS NUMBERS and they don’t leave it the accountant to tell them what their numbers are.

They KNOW and UNDERSTAND all their NUMBERS and they spend time analyzing everything.  When the numbers change, such as sales, margins or cash-flow they detect these changes immediately and take action, before problems set in.

If you WANT GREATER BUSINESS SUCCESS, you must get your business numbers right.

  

Total Control Of Your Business

The top 10% of successful entrepreneurs all know how important CONTROL if their businesses are.  They achieve this by having LASER FOCUS on EVERYTHING within their business.  This means a HIGHLY EFFICIENT and a HIGHLY EFFECTIVE BUSINESS with little waste.

You need absolute control for GREATER BUSINESS SUCCESS.

For-Greater-Business-Success-Have-Smart-Business-Thinking-600x319 For Greater Business Success, Change Your Thinking

 

Smart Business Thinking Starts With The Power Of Thought

These are just a few examples of how the THINKING of the most successful entrepreneurs works.

To make the change, you must first decide that you will find about 90 minutes each day to THINK about ALL PARTS of your business in a MORE CREATIVE, a MORE ANALYTICAL and a MORE INNOVATIVE WAY.

Once this has become a HABIT, you will start to feel MORE FOCUSED and YOU will start to see things with GREATER CLARITY and, most importantly, you will see ways that you can make improvements to your business.  A business plan for success results.

Then, your BUSINESS ACTIONS will be more SMART and more EFFECTIVE and your business will start to move forward at a faster rate.  Greater business success should then follow.

As YOU start to see your business moving forward, YOU will feel that YOU have greater CONTROL and YOU will start to RELAX more and possibly become less STRESSED and quite possibly start to enjoy your business more.

This is a very quick snap shot of how SMART BUSINESS THINKING could work for YOU, there is much more on this site about SMART BUSINESS THINKING.

Robert-Viney-525x350 For Greater Business Success, Change Your Thinking

If you wish to discuss this with me more fully, please email me at Robert@prestigebusinesscoaching.co.uk or please contact me below:

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