5 Keys to a Successful Business

Business owners are some of the most optimistic, and often the craziest people in the world. No-one starts a business believing that it will fail. We are all absolutely convinced that our idea is a great one, that we will be successful (where others have failed) and that this business will change our lives for the better. If we did not feel that way, we would never take the risk to invest our own money, or borrow from others to start our business. The reality is however, that, according to the SBA, most businesses ever fail and more that 50% do not survive beyond the first 3 years. Even if you manage to get that far, things can still go horribly wrong, as many seasoned business owners found out during the recession that hit us during 2009 to 2012.

So, does this mean that you should not start a business at all? Absolutely not. I believe that your business can be an outstanding success, if you approach it in the right way, avoid repeating previous mistakes and implication discipline on yourself as the owner. Here are some of my suggestions on how you can make sure that your business succeeds:

Discipline:

Lets start with you. Successful business owners are disciplined people and more often than not, businesses fail because their owners fail. Your business must compete to succeed. There is always someone out there, trying to win over as many of the customers that you are targeting. Business is competitive and if you do not intend to work hard and discipline yourself, then do not get into the arena. Anywhere there is competition, there must be discline. You could have the most unique skill, or the best product idea, but your business will never achieve its full potential, if you do not have discipline.

Discipline is a determination to work hard to get it right. It is not settling for mediocre results but rather working until you achieve the qualities and results that you need to compete. No-one will buy your product if it is substandard, or hire your services if you can not deliver what you promise. Business discipline requires an eye for detail. I learned a valuable lesson very early on in my career. I was once required to do a financial presentation to a senior executive and felt that since I knew this stuff, I could get by with a minimum amount of research and preparation. I went to the meeting and had my presentation ripped to shreds. I was unable to answer questions that were obvious and fell way short on the detail needed to be credible and convincing. I left that meeting upset and angry, not with the executive, but with myself and vowed that this will never happen to me again. As a business owner you will not get things right every time. You will make mistakes and mess-up on occasion. But if your product or service fails, let it not be for lack …

What Is Personal Branding?

What is personal branding? Many network marketers that come online hear about attraction marketing, personal branding and wonder what it is all about.

What is it all about?

Personal branding is essentially building a business or career out of you. We all have individual talents and skills, so the goal of personal branding is to develop those assets into something profitable.

"Personal branding is the process where people and their careers are marked as brands. to an unforgivable impression that is definitely distinguishable. "

Personal branding is about adding value. It is about being able to attract people to your presence, and having them to admire and respect you. It's not only about first impressions you have on others, it's about leaving a long lasting impression on their mind.

There are three important things to take from this definition:

Process … It takes time; it's not something that's going to happen overnight. Traditionally we're programmed to follow someone order, to be obedient and perform your tasks within the set limits or guidelines. Everything is fast-paced. Personal branding is NOT fast-paced; it's about patience, determination and consistent follow-through.

Build Your Intellectual Assets … that is definitely your own.

Each person has or can acquire three forms of intellectual capital. These require an investment of study and hard work, but they pay off in higher income for the rest of your life. The first type of intellectual capital you can acquire consists of your core knowledge, skills, and abilities. These are the result of education, experience, and training. They determine how well you do your job and the value of your contribution to your business. Your knowledge, value or ability to perform the task can never be beaten away from you unless you're the one that makes that happen. The goal of personal branding is to make yourself distinct and unforgettable to the people you serve (your customers, clients or employer) .

Anyone Can Establish Their Own Self Brand … Clothing, attitude, appearance, knowledge, talents and abilities can all be used to establish a brand for you from yourself. I can guarantee you that there is something about you that other people want; we just have to identify it and present it to the world.

Why is this important in network marketing?

Branding is more important today than it ever has been. Big companies know this, small companies know this, and thousands of networkers in networking business know this, too. Branding is how you secure your position in a market … You sell something that nobody else is selling, and you do that by selling your sizzle, not your steak. For example, McDonald's does not sell burgers, they sell convenience. Health product companies does not sell vitamins, they sell good health. Beauty companies does not sell beauty products, they sell you appearance. Similar in networking business people sell hope. You have to identify what is your unique value that you are trying to sell.

At the moment do not worry about what …