Successful Business: What to do… & not
Want a successful business? Certainly. Who doesn’t?
Business owners are some of the most optimistic, and often the most obsessive-compulsive people in the world. There’s not a soul around who starts a business believing it will fail. We are all absolutely convinced our idea is the greatest thing since sliced bread. Of course, we believe our business will be successful. “Yup, where others have failed, my business will be successful,” we declare. Furthermore, this business will be such a huge success, it will change our lives and the lives of others for the better.
The video above was made by a company in Canada, compiling data from a survey of one hundred Canadian companies. The video is only 4 min. 18 sec. so it won’t take long to watch the whole thing.
An International Perspective
I work with clients, business owners and entrepreneurs in the U.S.A. Nevertheless, I like to get international perspectives and consider whether or not what they are going through is applicable here. Of course, there are many factors at play. The business models themselves among the companies they surveyed may be altogether different from those I work with.
In a nutshell, the following are the two lists of 5 essential do’s and 5 essential don’ts they have compiled from Canadian companies surveyed.
I’ve listed the 5 Do’s and Don’ts from the video if you don’t have the time.
If you do have the time, watch the video and comment on whether or not you agree.
Successful Business List of 5 Essential Do’s
2. Seek Outside Advice
3. Plan & Measure
4. Hire the Best
5. Build Supplier Relationships
List of 5 Essential Don’ts for a Successful Business
1. Don’t Rely on Too Few Customers
2. Don’t Neglect Financial Management
3. Don’t Delay Contingency Planning
4. Don’t Ignore Market Trends
5. Don’t Wait Before Getting Help