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Business building criteria create successful businesses?

Don't start without business building criteria

Can you build a great business?

Innovation is often the ‘catch cry’ of business building criteria, but it’s not the only thing.

In building a great business, you must be patient. It can take you several years to learn all the ropes and put them into play so that they work well all day, every day. Great businesses evolve with experience and the acquisition of new information and knowledge.

Doing the same old, same old rarely cuts the mustard, nor will you build a great business if you lean too heavily on your own understanding. If you are not willing to grow, you will never grow your business.

Many people starting a new enterprise become very passionate during the start-up phase,  but over time, something happens, and the business no longer has the drive required to make it great.

Other people lack ambition and their only goal in business is, “To make a good wage and pay the bills”. This might be fine if you are building a lifestyle business and have no aspirations for building anything beyond the lifestyle the family wants. Without ambition don’t expect a great business to emerge.

Great businesses don’t rely on luck; they make their own.

Building a great business is about you, you must have the drive and make the right decisions. Often, they will be decisions about things you have no prior experience with. You need to make your own pathway, find the people who will help you and find ways to keep them excited about helping you.

Keep in mind that it is you thinking that controls your actions. While you might have to think small to get the business started, it is thinking big which will build a great business.

There will always be many people who will try to talk you out of what you are doing. They will do this because they want to (consciously or unconsciously) drag you down to their level. Don’t worry about what everyone is thinking and saying about you and your ideas because they haven’ thought things through as well as you, and you won’t have time to fully explain.

In business building, you must be patient.

It can take you several years to learn all the ropes and put them into play so that they work well all day, every day. Great businesses evolve with experience and the acquisition of new information and knowledge.

Doing the same old, same old rarely cuts the mustard, nor will you build a great business if you lean too heavily on your own understanding. If you are not willing to grow, you will never grow your business.

Many people starting a new enterprise become very passionate during the start-up phase,  but over time, something happens, and the business no longer has the drive required to make it great.

Other people lack ambition and their only goal in business is, “To make a good wage and pay the bills”. This might be fine if you are building a lifestyle business and have no aspirations for building anything beyond the lifestyle the family wants. Without ambition don’t expect a great business to emerge.

Some questions to ask yourself as you strive for a great business:

  • Do I have a good business model that is scalable?
  • Does my business plan have enough detail to make everything work in alignment?
  • Will the value chain I am building be strong enough to withstand the pressures?
  • Am I the best person to grow the business?
  • As an owner will I be the best CEO?
  • Do I have the necessary skills to achieve my vision?
  • Will my family and friends stay with me and give their full unqualified support?
  • Have I started with the end in mind, or will I waste a lot of time and resources?
  • Am I truly action-orientated and able to keep the focus on important outcomes?

A great business builder is a great entrepreneur?

Someone who wants to change the world, build a great business, and make a lot of money. You need all three, but people who are in it just for the money don’t do great things.

Understand the culture you need to have in a great business. If you don’t get this right early, as you engage more people, everything could start to go wrong. Align the culture with a sense of purpose, relationships and action orientation.

If you are not an entrepreneur, look for one to help you.

If your study the leading businesses in your industry and learn everything you can about their way of doing business. Know what you will be competing against, and also have a sense of what relevant structures look like as you’re building your team.

Don’t let negativity kill your business building criteria

All too often I see potentially great businesses falling by the wayside because of being surrounded by negativity and negative people. Trust your judgement, be positive and follow your dream.

With most great business-building I have seen, there has been a person or persons who have backed their judgement and gone for it. These people are almost always entrepreneurial, or they have learned to apply entrepreneurial attributes. They have mainly learned to ‘join the dots’ and articulate their vision to excite others to follow them.

If you want to involved in a successful business building, forget about what other people are saying about you. For fifteen years people said I would go broke in my first business, and when I finally had to close the company down, no one would believe it.

Are you the best person to grow your business?

Often, I have found the owner is not the best person to grow a great business unless they are prepared to hand over the running to a great CEO and his team. It takes a different set of skills to start a business, a different set of skill to run the business and make it grow, and a different set of skills to make it a great business.

I meet so many people who have great ideas and opportunities, but they take far too long to do anything about them. Just put something out there even though it might be imperfect. Your real work will be in figuring out how to make your ideas better and the opportunities come alive.

Quotable Quotes

Businesses thrive when people think entrepreneurially”. Peter Sergeant

“Accomplishment is socially judged by ill-defined criteria so that one has to rely on others to find out how one is doing”. Albert Bandura

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