What it Takes to Succeed in Business
These 7 things can pave the way to success...
Many people will tell you different things about what it takes to make it in business. A lot of people have good advice and others — not so much.
I’ve been in the corporate sector for the better part of fifteen years, with over a decade of industry experience in my current field of expertise. From my perspective, this is what I think it takes to succeed in this ever-evolving landscape.
I. Preparation
Perhaps one of the most critical aspects of business success is preparation. They say, “A journey of a thousand miles begins with a single step.” I say, on that journey, you better be packing an adequate amount of food, water, and ammo; otherwise, you’ll end up like the Donner Party on the Oregon Trail!
In all honesty, everything starts with preparation. You can’t expect good results in business without first taking the necessary steps that make it possible to succeed, whether it be for client meetings, conference calls, or whatnot.
The same goes in life. Sun Tzu said this as it pertains to preparation:
“Every battle is won before it is ever fought.”
-Sun Tzu, The Art of War
Essentially, preparation is the key to winning on the field, whether in business or warfare. But, first, you must familiarize yourself with the terrain, make sure you have sufficient supplies, and develop a plan of attack.
II. Initiative
You’ll come away with valuable lessons from situations and circumstances throughout your business career. One useful takeaway is learning how to take the initiative.
In any place of employment, most especially corporations, the employee of a company (whether small or large) must distinguish him or herself positively from the rest. In doing so, you establish your credibility, develop a good reputation, and, most importantly, showcase your value.
The most effective way to do this is to volunteer for challenging tasks and subsequently lead by example. The people who get ahead in life are willing to go the extra mile and put themselves out there despite the risk of failure.
III. Innovation
Success belongs to those who are good at what they do and those who can also innovate and do it better than their competitors. If you are one of those individuals constantly looking for ways to drum up business for the company, finding creative ways to do so, then you’re well ahead of the game.
Your creativity and applying it to finding viable solutions to your company’s challenges can shape a businesses’ future. The parameters for successful innovation, I believe, entail the following:
First, what you create must add value to your business or company.
What you create (product, system, or process) must run more efficiently than what’s already in place.
Finally, you must find out if it saves your business time and money.
The above is by no means an extensive list; however, it gives you a baseline to successfully innovate. By innovating, you, at the minimum, give yourself the chance to realize a financial gain, which is often the byproduct of successful innovation.
IV. Determination
There will be days when you don’t feel like putting in the work to make sure your business runs smoothly. Unfortunately, it happens to the best of us. However, the key is not to adopt that attitude. Instead, when those feelings crop up, find ways to motivate yourself.
I tend to look at things from a broad view perspective. To stay motivated, I remind myself what’s on the line. If I don’t put in the hours to keep going, if I can’t provide excellent service for my clients or customers, then I run the risk of losing my job and forfeiting my paycheck — a paycheck that pays my bills, puts food on my table and keeps a roof over my head. That thinking may seem overly dramatic but is entirely based on reality.
Another way to motivate yourself is to ask yourself do you have what it takes to win? Then, challenge your thinking to maintain an edge in your field of business.
A follow-up to that question would be asking what do you stand to gain from your efforts? For instance, do the rewards entail discretionary bonuses, profit-sharing incentives, other forms of compensation, or validation from people using your product or services?
Whatever it is, find the thing that motivates you and allows you to remain determined in accomplishing your businesses’ mission.
V. Accountability
Accountability is a big one that most people shun; however, as someone in the business world, you need to take ownership of your tasks and, yes, also your mistakes when they happen.
Someone who is a huge proponent of this is former Navy SEAL and New York Times bestselling author of Extreme Ownership, Jocko Willink. He is a leading advocate of this philosophy; where he stated the following:
“On any team, in any organization, all responsibility for success and failure rests with the leader. The leader must own everything in his or her world. There is no one else to blame. The leader must acknowledge mistakes and admit failures, take ownership of them, and develop a plan to win.”
― Jocko Willink, Extreme Ownership: How U.S. Navy SEALs Lead and Win
VI. Networking
The ability to network, especially nowadays, is a lost art. Yet, networking is how you build rapport and familiarity with people. Getting to know your colleagues, customers or clients is paramount to the success of your business or trade. It may well open doors for you that would have otherwise remained closed.
VII. Forward-Thinking
Always think about the next step before you ever take it. This falls in line with preparation. However, it also involves staying several steps ahead of everyone else. A person who is a forward thinker not only prepares for today but strategizes for tomorrow.
You always want to have a plan for the future, and that plan that you put in place is something you can also use to measure your progress.
Closing Thoughts
All of the above categories also apply to life in general. Therefore, you can shape your success or failures based on what you do with fostering these essential aspects.