SOME CONDITIONS FOR BUSINESS SUCCESS
Character and confidence determines business success
Warren buffet will not think up to ten seconds to answer most questions about business investments. Continuous study and observation in the business world plus the active willingness to take calculated business risks will enlarge your business horizon, improve on your business character and confidence. The character and confidence of a business person determines the level and amount of business opportunities that his eyes can see. It will determines the level and amount of business success he can attract and connect with. When J.P morgan the American Financial Mogul of the 19th century was asked the secrets of his business success. He simply answered, ‘’character’’ business character determines business that will either be repelled or attracted.
Your network determines your net worth
Dan S. Kennedy, the Author of ‘’ How to turn your ideas into millions’’ said, ‘’your network is equal the square of your net worth’’ putting this in a mathematical equation, you will have this
NETWORK = (NETWORTH) 2
The definition of network is simple. Network could be a team of business men who have merged their interests in a business hemisphere. The advantage of this is better bargains and increase in leverages. A good example is the business cooperatives of the modern day world. Another illustration of network is this. A man starts a company and hires two brilliant employees who produces 200units and pulls in N100,000 net profit monthly. Four good employees could pull in N1000,000. A network could also be the internet where a smart youth builds and programs a website where he sells a particular product. People find him online, pays with their credit cards and fills out the request form. Then in the evening of every day he spends two hours only to verify payments and send the products. He could even go ahead and hire personnel to monitor the payments and deliver the product or service online. He is not there doing the job but the money pours in.
You see the power of the internet network is Amazon, the world number one e-commerce website worth over $300 billion founded by Jeff bezoz, Alibaba, the world second e-commerce website worth over $200 billion founded by Jack ma, other examples super-abound
So, you have to take time study the world business networks and think on how you can either duplicate them in your new business idea or create a new one.
Brainstorming and imagination are better than knowledge
Albert Einstein, one of the world’s greatest scientist and person of the last century said ‘’ imagination is better than knowledge is because knowledge is limited while imagine embraces the world, stimulating a progress which is evolution’’ for an idea to evolve and settle comfortably, you must bombard your brains with the face of concentrated imagination. You need to separate your mind from distractions constantly think and analyse the idea or challenge before you. Most products. A popular Toyota slogan says, ‘’Good thinking, good product’’.
Get like minds and engage them in tough brainstorming sessions. Ask all the what, if, why, when, where. Take note of every details. To do well in business, you must note and follow the details. The details convey the information, the information convey the signal for something good or something that should be avoided. Use both quantitative and qualitative reasoning in analysing your results. Chances are great that you will arrive at a business success.
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