Are you on the path to success?
Many of us wander through life and ponder its existence. What should I do to accomplish my goals? Is this the right business for me to achieve my dreams? How can I accelerate my business to meet my expectations? All of these questions are great and will help you realize what you want.
5 things that let you know you’re on the right path.
- Do your Research
- What is your why
- Take risks
- Hard work
- Who is in your Network
Do Your Research
First is research. It gives you important details on an industry. If you wanted to start a farming business in this day and age that is great, however, it is substantially harder than 100 years ago. Majority of farmers license their seeds through suppliers that have strict rules. You have to constantly upgrade your equipment to keep up with competition and regulations. Research lets you know about the trends of the industry. It enables you to create the right product at the right time. You have to know what the market wants. What’s the best price, and how you can gain market share. So, do your research to ensure that you won’t start a business in the wrong market.
What Is Your Why?
Next is your why. What keeps you going? Your why needs to be strong and rooted deep within you. For Example, my why is wanting to have the financial and business structure so that I have enough money to do whatever I want. I want to help others achieve success, and realize their why. If I don’t have success, how can I help others achieve it? What is yours why? What makes you get out of bed? The best thing you can do to help find your why an exercise called the 7 whys. Ask yourself what do you want? After you have answered that, ask yourself why? Following that ask yourself why again, and again, until you have answered 7 whys. This exercise often helps you get to the real reason you do anything.
Take Risks
Third, is risks and it is essential to doing anything in business. Having said that, don’t put all your money on 31 black without research. Business is all about risks and making the best decisions based on the data you have in front of you. The first and most important risk is starting a business. It is a decision you should not take lightly and needs to be followed up with consistent action to achieve your goal. The right risk can make everything you want, come to fruition. What’s the right risk? There is no universal answer and is different for everyone. Make sure to do your due diligence and have facts to back up your decision.
Hard Work
Following risks is hard work. Nothing in this life is free so make sure you have enough money to buy everything you want. Figuring out what business to start, your why, and what risks to take is just the beginning. Now comes hard work, long hours, and consistency. This will be the longest and hardest part of any business. Anyone can jump off a cliff, but only a few will stay committed to the decision all the way to the water. The best thing you can do is get a mentor in your industry. Someone you trust and has success in an industry similar to yours. They will be able to guide you through your journey, but not do the work for you. Mentors help you take that shortcut that will save you time and money. So, find a great one.
Who Is In Your Network?
Last is your network. This can radically change your business and take it to the next level. Your network can boost your business, get you investors, and connect you to the right people. Your network is your net worth. Who is in your network? Who do they know? I recommend reaching out to all the people you know to see if they might be able to help. You will be shocked at what/who they know. I am a firm believer in doing things on your own and supporting yourself, but I have come to find that no one does anything alone. Lean on your network and make those connections matter so you can achieve your dreams. After all, if you won’t talk to people for your dreams, they aren’t dreams at all.
After you have covered these 5 steps keep putting in the hard work and making smart risks and reaching out to your network. It will pay off and depending on how much research you did for your business will determine your payoff.