7 Ways For Business Success

The 7 ways for business success will overcome whatever limitation you have. Think of it as a plan for success in business. All you have to do is first of all learn what the 7 ways are, and then apply them, in order.

When you follow this plan all of your challenges will fall in to place.

Why do you want to start a business?

Is it because you want a better life?

Stop working long hours for little reward, feeling stressed with little time off, and of course the politics of the workplace.

Isn’t it time you made some changes for the better?

After all, if you want to change some things in your life, you have to change some things in your life.

If you’re ready for a change here’s the plan you need to follow.

The Work Space

1: Work on Yourself:

Business is all about people isn’t it?

You have them as customers, you employ them.

Few people have realized the absolute key to success is understanding people at a much higher level.

You sales and marketing skills are determined by what you know about people.

Your leadership skills with your staff to get them to perform as well as you do is determined by your knowledge on people.

So what’s the best way to learn about other people?

Easy, learn about yourself! You’re a person and the more you learn about yourself the more you automatically learn about other people.

2: Learn Business Success Principles:

There are so many principles to business success, but I’ll emphasise just a few. One is, you’re in business to make a profit, not just turnover.

Turnover is a job, whereas profit gives you a lifestyle.

Your aim should be to increase your net profit percentage of turnover, as this allows you to grow and pay yourself whatever you desire.

Net Profit percentage comes from improving everything you do, not just doing more of what you already do.

How you answer the phone, how you greet people face to face, how you write your ads, improving your communication and leadership with your staff.

All of these are areas to improve.

Another principle of business success is cash flow.

Cash flow means having the cash in your bank account that should be in your bank account.

If customers cost you money before you get any back, that’s negative cash flow, if you get cash before you incur a cost that’s positive cash flow.

The better you get at getting money up front with deposits and getting people to pay on time the better your cash flow.

3: Set Goals and Have a Plan to Achieve Them:

Until you set a goal you don’t have a reason why you will improve your business, therefore how does it matter.

People have to know why, before how. You’ll want to know how to grow your business once you have set a written goal.

If you go to build a house with just a hammer, a saw and nails you will be building it for a long time.

Business is the same.

When people don’t know what strategies are available or suitable to them how can they effectively grow their business?

A Business Growth Plan is simply the order of implementation of those strategies beginning with the highest priority strategy.

When you have documented goals for 3, 6, 9, 12 and 24 months with a list of strategies in order you have a Business Growth Plan that makes growing your business.

Office Environment

4: Turn Your Staff  Into a Team:

Unfortunately business owners are trying to do it all on their own.

They often don’t train their team regularly with team meetings or one on one allocated time every week.

I believe you have one role as a business owner, to be a great teacher!

Your aim should be to teach everyone in your business how to do everything you currently do, better than you do!

And what does that then make you? Obsolete!

When business owners think no one can do my job as good as me, they are digging a big hole for themselves they will never get out of.

Then they wonder why they are stressed, tired, work long hours and this happens more and more as the business grows.

5: Build Foundations For Growth:

If you want to build your business to provide a great lifestyle you need to put foundations in, just like building any building.

If you don’t intend to really increase your profits then you don’t need foundations.

If you want to seriously increase your net profit percentage (even without increasing turnover) you must have strong foundations.

When they build a skyscraper they don’t build up, they dig a big hole down.

The foundations in business are 2 things.

First, having documented systems.

A system is just the best way of doing something that everyone knows and uses that has been identified and written down.

It helps consistency and efficiency and as you grow people are accountable to the systems, not to you the owner.

That means you save time checking on everyone.

Systems only work when you have worked with your staff to turn them into a team.

Secondly, measuring everything is part of building foundations.

If you haven’t measured your Key Performance Indicators how will you improve on them?

Increasing Net Profit percentage of turnover comes from improving everything you currently do.

Office Space

6: Implement Effective Sales and Marketing:

Everyone in business is already doing sales and marketing but how effective is it?

You know when you have effective sales and marketing, here’s how.

You won’t get so many price shoppers as your marketing already has “sold” them on buying from you. Your marketing is so effective you only have to run it a third as much because you can’t handle the increase in customers it brings you.

You’ll know your sales and marketing is effective because you put your prices up 20% and also increase your conversion with the price rise!

People in business don’t take responsibility for their sales and marketing and as a result they don’t get the results they desire.

If you learn sales and marketing by paying a professional for a few months it will be the best investment you ever make.

Once you learn the principles of success you can then add to them yourself, but often you need an expert to get you started.

7: Manage the Business:

Unfortunately businesses aren’t managed at all well.

You can tell by these examples… decisions aren’t based on numbers, there aren’t documented systems, regular weekly team meetings aren’t happening nor is weekly one on one team training.

Management is all the above; it’s making decisions on numbers. e.g. you measure how many customers you serve in a week for each team member and measure the number of new customers each week.

Then work out your team can service 5 customers each per week.

That means if your marketing can produce 5 new customers and if you’re at maximum service capacity you need to be thinking about getting a new team member very soon.

Conclusion:

This is what management is, training your team weekly, documenting systems, measuring numbers, making decisions on numbers, setting goals and helping your team to achieve their own.

When you dedicate time to learn and then follow all 7 ways to business success, in the order above anything is possible.

Would love to hear your thoughts about this post or this site in general.

I will answer all the comments on my website personally so drop me a line below if you have any affiliate marketing questions or comments.

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Kind Regards Shane.

I’m happy to help any way that I can.

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10 thoughts on “7 Ways For Business Success”

  1. I must say that you have done a great job on this article as I know it would be if great help to the public as it has been of help to me.These tips that you have given is one of the very important thing to make up a successful business……

    One very vital Tip that you mentioned is turning your staff or workers into a team as they would be more productive that way….as in this system the owner as to come down and have a friendly relationship with his team’s member this would now cause them to increase devotion.

    Reply
    • Hello David, 

      Appreciate the positive feedback. 

      Team work is vital for a successful business. 

      Glad you enjoyed this post. 

      Regards Shane.

      Reply
  2. It’s quite interesting to me that you were talking about setting goals because when I first started my online business I had zero knowledge of what it implied. I didn’t even knew the definition of an online business. I always saw that as something that big companies do, but I was never too much into it until o found Wealthy Affiliate. 5 months in and I’ve done pretty well so far, setting goals is important, but even if you don’t have any it is okay to follow your instincts when it comes to such huge and complex decisions. Goals are important as you start out your business, it’s like a guideline that will help you along the way. 

    Reply
    • Hello Stephanie, 

      Thank you for taking the time to read my post. 

      Stick with Wealthy Affiliate they are a fantastic platform to be associated with.

      Regards Shane.

      Reply
  3. Very informative read, thank you. I have had successful businesses (and others, not so successful) and currently have three companies doing different businesses. It was all by ‘feel’ if you like; no real Know How, just the old adage “Work, Pay the bills, Live for another day”. As Time moved on, I got better at it and now, I think I have a decent grasp on things. You pinpointed a few areas that would have saved me MORE Time if I had learned them early enough and avoided the downfalls on my Up and Down Journey… especially the part about managing the team (and yourself) properly. Now, I understand the importance but before, I just mismanaged it and suffered the consequences. Thanks.

    Reply
  4. Hello Shane! This is highly educative for everyone who wants to make success in online business. For me, these tips you’ve shared in this article is capable of making the job stress less if followed properly.

    Ive learnt a lot from what you said about ‘Set Goals And Have A Plan To Achieve Them’, I’ll work towards that. Thanks!

    Reply
    • Hello Chimmhogevagreenesnr, 

      Thank you for taking the time to read my post. 

      Glad to see you were able to get some good information from it.

      Regards Shane.

      Reply
  5. Thank you for sharing this informative and educational article about 7 ways for Business Success. If you were looking for a job I am telling you my boss was going to hire you on the spot. This is amazing this year our boss came with a new strategy l guess because he want to improve his business so that it can be successful everything you have mentioned in this article is exactly what we have been taught to do to have successful teams and it will improve the success of the business. He even makes us listen to an audiobook The Legacy on how to build a a strong teams and that everyone needs to set their goals for 3,6,9,and 12 months. It is very important to learn about yourself for you to learn about others. I will also apply these 7 principles for my business in future. I have bookmarked your article and l will share it with my boss. Great article.

    Wishing you all the success!

    Reply
    • Hello Fiona, 

      Thank you appreciate the feedback. 

      Happy to see you enjoyed the post. 

      Please share this article with anyone you feel will get a benefit from it. 

      Regards Shane. 

      Reply

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