This September will see me hit the 30 year mark working in and running a financial advice business. Yes you read it right, 30 years and before you say it – “you don’t look old enough”. I started out when I was very young. And I am still learning new stuff every day!
Wouldn’t you agree that in every industry or profession, the market is more often than not a ruthless place to earn a living?
Here are 10 things I’ve learnt, that could help you run a successful business.
1. Hard work and long hours
In my experience, to be successful you are going to have to work very hard indeed. And to get to the very top of your game you are going to have adipex online for order to out-work everyone around you. There are no overnight successes, no get rich quick systems, just plain and simple hard work. How many people do you know who have worked very hard for 20 years and now look like an overnight success?
2. Your product/service must solve a problem
No one owes you anything and you have to prove your value every day to your customers and clients. So whatever you do for your customers, it must solve a problem.
3. You have to understand your customers problem at least as well as they do
Understanding your customers problem as well as they do or even better than they do, puts you in a great position. If you can explain the problem clearly, something strange happens. Your customers often instinctively believe that if you understand their problem, you will have the answer to that problem.
4. Your product/service must solve a big enough problem
This is not the same as point 2. There is a subtle difference, but a nevertheless a big one. Have you ever been offered a product or service and just thought, “Why? What do I need that for?” The problem that you can solve must be a big one, causing your customer enough pain, that they are motivated to do something to solve that problem. Sure we can all identify minor problems that we need to sort out. It’s the big problems that need to be solved that your customers will pay you for.
5. Your product/service must offer value
Sometimes the cost of solving that problem is just too much. The cost of getting rid of that pain just outweighs the benefit. So the cost of your solution is critical to running a successful business.
6. Your customers must be able to afford to buy your solution
This is similar to the point above, but not quite the same. Your target customers have to be able to afford to pay for your “great product/service”. It may be a brilliant solution, but if it is just too expensive for them to buy, they will not be able to buy from you.
7. No one else is just like you.
You define your business. Everything that you do affects how your company operates, how it distinguishes itself through your philosophy, your culture, and your actions. No one else will have had the same experiences in life as you do. If your started your business, your character will permeate through your business. But being you is what makes your business unique. People buy people today, always have and always will.
8. Failure must be expected
Yes, you are going to fail. But that is a good thing. Failure is the only activity that you do that will teach you what works and what doesn’t. It’s essential to keep moving forward until you find what works for your customers and ultimately that will lead to your success.
9. What works now will fail in the future
Through trial and error, you’ve probably found what works, but sooner or later something will change and it won’t work as well as it used. The key to success is to identify when things starts to fail and either re-engineer it or create something new altogether.
10. Just keep running.
You’ve got to be in this for long haul. Dedication and perseverance is a must if you want to still be here in 20 years time. Gary Vaynerchuk says, most “wannaprepreneurs” take one punch to the face and slink back to getting a day job. Being in any business of any size is a risk and some days you’ll wonder why you ever started out on this journey. Every day is new day, so put the bad days behind you and start afresh. History is written by those who are just to stubborn to quit.
Contact Martin Dodd on 01902 742221 or email him at [email protected] if you would like talk about #FinancialAdvice or money issues.
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