Success in business? No Selling! We build your downline for you! Don’t work at all, just sit back and collect your millions! Work 10 minutes a day with the super-duper money-maker! Sounds like success doesn’t it? We are bombarded with these advertisements every day. I mean according to these phrases all you have to do is buy their system and the money comes rolling in.
People are selling would-be entrepreneurs “Instant Gratification” to become successful in business. Whether it’s home-based businesses, retail storefronts, or online. The simple truth is, There Is No Magic Pill For Success in Business. If there were we would all be rich and wealthy. It will take action, work, and commitment.
The internet and late-night infomercials promise you that with this low investment, you can be rich in a manner of months without any effort at all. Hey, just buy our system, and bam-bing-boom you are a gazillionaire.
Success in Business and What it Requires
Regardless of your education or skill level starting and running a business takes commitment and perseverance. Facts state that 97% of businesses fail within the first 5 years. For home-based businesses, most people quit in the first 90 days. All the dreams and aspirations quickly turn into excuses, procrastination, and the blame game.
There are 4 key factors that can help you become successful in your business. It doesn’t matter if it is a home-based business, network marketing, retail store, or online. The same principles apply.
The Four Key Factors for Succes in Business:
1. Business Plan
2. Budget
3. Time
4. Commitment
1. Business Plan: No matter how big or small, the size of the investment all businesses need a written plan. It may not have to be formal but you need to know how your business will operate, and what product or services you will offer. Are there customers for what I am selling, and do I have enough funds to keep me afloat until sales come in? The business plan is your foundation for success.
2. Budget: Have a budget in place. Know what your expenses are. Know what needs to be purchased to help your business run. These expenses will come in every month. Your budget will allow you to see what monies are coming in and what’s going out, and what you can eliminate or add to bring in the cash flow and profits.
How to Create Passive Income with Amazon
3. Time: I know this seems like a no-brainer but you must put time into your business. That’s time into marketing and selling, time in upgrading your skills, time into planning, and time to clean up messes.
4. Commitment: You must be committed to your business. Depending on your industry you could have to wait several months for cash to come in. Commitment is the vehicle that will get you to cash flow and profits. No, it will not be an easy road. Reading profiles of successful entrepreneurs will encourage you and prove how their commitments led to success.
These four key factors can help stay on track. No this is not a technical article. It is simple and to the point. Once you realize that there is No Magic Pill, you will be closer to your business goals. Take action, start where you are, don’t quit, and better tools will come along.
Article Source: http://EzineArticles.com/7107070
1 thought on “Four Key Factors for Success in Business”