So, what does it really take to become successful in business?
You will find article after article about the “108” or “65” things you MUST have to be successful in business. However, a lot of that just isn’t necessary.
You don’t need to be a math whiz, a perfect writer, or have amazing people skills to be an entrepreneur (even though those do help).
In my 30 years of starting and selling successful businesses, I have found that there are really just 3 skills you must have in order to be successful. The good news is that these are all things anyone can learn.
1. The ability to leverage your time.
We all have 24 hours in our day. That’s it, and we don’t get them back.
So, learning how to manage those hours is a big deal. Especially if you want to run your own business – because you are your own boss.
We see a trend with all successful people. They all know how to spend their time wisely.
How can we learn to do that as well? We need to:
- Learn to avoid procrastinating.
- Make well-defined goals.
- Avoid micromanaging your team.
- Write down EVERYTHING (A.k.a organization).
Learning to leverage your time is not an easy task, but it is possible.
Writing appropriate schedules and sticking to it is probably one of the most important steps you can take in learning to manage your day to day.
2. Good financial decision making.
Finances are a big deal.
If you are working for money than you are definitely not making money work for you. All good business owners HAVE to know how to make money work for them.
You need to be recording your monthly business income, outgoing expenses, calculating profit, and keeping all this information organized.
You can learn more about business finances from reading educational books, watching videos, listening to podcasts, and/or hiring someone to handle your finances for you.
3. The knowledge of how to sell.
Do you know how to sell? Do you know how to market?
You need to understand how to sell before you ever start a business.
Why? Well, you need to know how to get people interested in buying your service/product.
At first, no one is going to know who you are, what you do, or why your service/product is good for them.
So, you are going to need to know how to sell whatever your product is to potential customers.
Once you have made a name for yourself your product should sell itself and you can hire a sales team. Until then you will need to know how to sell yourself.
In order to sell you need to:
- Know how to listen.
- Know your audience.
- Ask the right questions.
- Sell yourself – then the product.
These are the 3 things that I have found are essential for a successful business owner. If you know how to accomplish these you do not need any other skills other than the determination to get out there and launch your business!
Steve Goodall is a full-time digital nomad and an Iron Maiden fan who has spent the last 30 years working with business owners in driving company growth, restructuring internal operations and providing full consultancy on all platforms including branding, outreach, and marketing. Talking business is his THING…