tips to succeed in business

It is incredibly powerful and very cost efficient, but it takes time and some skill. It is about creating a community, using social media networking such as Facebook, YouTube, Twitter and blogging to build rapport with your market. You need to get on the train and do it, because your competitors are.

It is net profit, not gross revenue, that you want to focus on. Separate yourself from your history and create a new competitive advantage, be it a focused niche or super service, but not by discounting.
Above all, have fun. Being an entrepreneur is your choice, so make it work. It can be done. You can survive, emerge and succeed in this downsized economy, if you follow the right path.

Work should be fun. Your passion will help you overcome difficult moments and persuade people to work for you and want to do business with you. Passion can t be taught. When it wanes, as it surely will in difficult times, take some quiet time. Whether it be an hour or a week, take inventory of all the reasons you started the business and why you like being your own boss. That should renew your passion.

People have confidence in trustworthy individuals and want to work for them in a culture of integrity. The same is true for customers.

It s a given that your plans and strategies will change as time goes on. This flexibility for rapid change is an inherent advantage of small over large business. However, no matter the pressure for immediate profits, do not compromise on core values.

It s okay to use your intuition. Planning and thought are good. But procrastination leads to missed opportunity.

Take care of yourself. Your health is more valuable than the most expensive machinery or computer software for the company. You don t have to choose between your family or your company, play or work. Maintain your health for balance and energy, which will, in turn, enhance your mental outlook.

Don t take profits and spend them on expensive toys to impress others. Build a war chest for unexpected needs or opportunities. This also means hearing out new ideas and suggestions no matter how crazy they sound.

You need to believe in yourself, in your company, and that you will be successful. This confidence is contagious with your employees, customers, stakeholders, suppliers and everyone you deal with.

Your employees will follow your lead. It will also help you beat your competition by outworking them, particularly when your product or service is very similar.