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Business success – what does that look like to you?

Business success

Business success – it’s something we all strive for, right? Have you ever looked at some of your colleagues and wondered how they’ve managed to achieve their ‘business success’?

You know the people I mean – the ones who seem to have exceptional relationships with companies you can’t get close to, the ones who have built their business with multiple staff or locations, the ones that appear to be involved in everything other than their core business and we sit and wonder “do these people ever actually work?”

And what is business success anyway? How do we define it? There seem to be some consistent elements around how to achieve business success and what has contributed to others getting to where they are today. Many revolve around the relationships they build as much as their technical ability or how good they are at their particular business.

Here’s our tips on achieving your own level of ‘business success’.

Know your product or service

It’s really important to stay on top of your own professional development. With the pace of technology, our world can change so quickly, and it’s easy to get left behind. Dedicate time in your diary on a regular basis to work on your professional development.

Learn more: Managing receipts, 4 apps to save you time

Know your limits

Know what you know and be prepared to accept that there are some things that you don’t. Don’t promise anything to clients that you know you can’t deliver to a high standard. Don’t be afraid to say to a client that you don’t know something. And don’t be afraid to say no.

Learn more: 3 ways a bookkeeper can save you money

Develop strategic relationships

Business owners that appear to have key relationships with big players in the industry give up their own time to be involved in beta testing, advisory boards, and development opportunities. They believe in a true partnership rather than being a complaining bystander to what they think they can’t change.

Learn more: 4 things to look for when engaging a bookkeeper

Stay abreast of industry developments

It’s important to know what’s happening in your industry so that you can keep up with changes and implement improvements into your business when you can.

Learn more: Business systems help you focus on what you’re good at

Have support around you

Business can be isolating. And if you’re the only person in your family who has their own business, you may have had business conversations at family gatherings where Uncle Ted’s eyes start to glaze over or Auny Mary looks at you like you’re speaking a foreign language. Having a group of people around you that actually get it is invaluable, particularly at times when you just need to know that the business challenges you’re experiencing are not just happening to you. It’s important to know you’re not alone, and have the opportunity to debrief.

Learn more: 4 things Commando Steve taught me about business

Sometimes business is business

It can be frustrating and disappointing when a customer moves on to a competitor. And this can be due to a number of factors, and not necessarily anything that you have or haven’t done. Understand that this kind of thing is part of being in business, and try not to take it personally. Despite you having done all the right things, this sometimes just happens. Be professional, make the transition as easy as possible, and move on.

Learn more: Dealing with small business overwhelm

Business success in conclusion

Business success looks different to different people – it could be having multiple staff or locations; breaking into a new market that you previously through impossible; being able to pay your bills and not worry about creditors banging on your door; achieving a good balance between business and pleasure. Ultimately there’s no winning formula to business success and your definition will be different to the next persons. Business success to me means that I have the flexibility to run my business around my family; and affording my staff the same flexibility. What’s your definition of business success?