Starting a new business can be a bit of a minefield when it comes to the dos and don’ts and there are literally hundreds of articles online advising budding entrepreneurs on the best way to business success Condensing all this information and working out what advice to follow can be extremely tricky. To aid young businesses through their vital early stages, LMS Thinking reveal 9 top tips to help guide entrepreneurs to business success.
The business world is full of competing companies struggling to get ahead in their chosen market. The reason for this is that instead of focusing on what makes them unique, they’re too preoccupied with keeping up with their competitors. It’s easy for a company to claim that they offer the ‘best quality’ or an ‘unbeatable service’ however these kinds of statements fall flat for most consumers. In many cases, if a company has a strong USP, they have no need for statements like these as the quality and individuality of their product speaks for itself.
Inferiority Aids Learning
It’s easy to feel a sense of superiority when running a new business, you may feel like you know the market well, but Managing Director of LMS Thinking Tim Kennedy believes there’s always more to learn ‘ maintaining a sense of inferiority in business puts you in the best frame of mind to be constantly learning new things’.
Practice is always a sure fire way to keep the mind sharp, however practicing when times are tough and the business is feeling resistance is a great way to prepare for any future issues. By pushing against the current, business leaders will soon find their everyday approach to problem solving highly improved.
Give and Take
MD Tim Kennedy says ‘the best working relationships are interactive’. And it’s important to keep business relationships as a two way street. By introducing a back and forth dynamic within business will help individuals feel valued, as well as give each party involved the chance to learn from and improve each other’s working techniques.
Don’t Be Arrogant
It may seem obvious, but many businesses fail to reach their potential due to entrepreneurs’ refusal to be aided by superiors. These superiors can provide precious business advice, so don’t be too proud to take it.
According to MD Tim Kennedy ‘everyone has different strengths; successful people learn to shape the world around them to best meet their needs’. Instead of struggling to find their place, entrepreneurs should focus on adjusting their environment to suit their own strengths.
When building a business it can be easy to become impatient if things aren’t moving as quickly as anticipated. However impatience can lead to rash decisions and creative mistakes, so it’s important to rein in any impatient impulses.
Let Your Brain Do The Work
The brain is wired to naturally make connections as long as it’s constantly being fed information. By stressing over a task the brain can shut down, by putting the task to one side and instead taking in all related information, gives the brain a chance to make the connection, making problem solving easier.
Love your Company
The most important aspect to success in business is for entrepreneurs to love their job. By loving their chosen field at a basic level will give the everyday drive they need to make it a success, and that passion will be reflected in employees and colleagues.
Success in business isn’t just down to negotiating a competitive market, it’s also about having the right mind set to succeed not just as an individual but as a business as a whole. By following these tips LMS Thinking believes young entrepreneurs and fledgling businesses can learn to apply the correct mentality needed to gain business success.