How To Create A Successful Business

Is there a secret to having a successful business?

If you do research on businesses you will find that almost 85% of them fail in the first 5 years of operation.

This is a very alarming statistic when you consider how much education and training there is available.

There are countless numbers of business books with lots of business success stories.

So why is it so difficult to start and maintain a successful business?

Do you know anyone who has ever picked up a musical instrument and immediately started to play it well?

No, of course not.

It takes years of dedicated practice and lessons from an experienced teacher or mentor.

This example directly applies to building a successful business.

The unfortunate part is that most people get into a new venture and they don’t have all the fundamentals in place.

There are also lots of people who don’t like that nasty four letter word…W-O-R-K.

There is no real secret, just a lot of different components that you have to learn to put together in the right order.

Successful Business

Successful Business

One of the key ingredients to a successful business

Many business mentors or coaches start to train you on tools, systems, education, strategy, marketing and planning.

Yes it is important to have all these things along with some personal attributes like discipline, commitment, integrity and desire.

The challenge with all these components is they are all external resources.

You can have all the best tools, systems and resources available but if you don’t have the right mindset none of it will matter.

Your mindset will determine how far you will go in your business venture.

You can teach about the tools, systems and resources but the mindset is something that you have to develop.

Chances are you are one of the ones who grew up in a household that was not exactly empowering you with encouragement.

If the story you have bought into about yourself includes limiting beliefs and low self esteem you will fail in your business.

Shifting the mindset is one of the most challenging things you will do because you generally have a poor foundation that you started from.

Most people quit or give up after they face a few obstacles.

That’s because their mindset has not been developed.

Research business success stories

In school you were taught to study to get the answers on your own.

In the real world you are told to find successful people and model them.

If you have been told what to do for the first 20-24 years of your life and the opportunity arises to start a business, how will you know what to do?

You will be waiting for someone to tell you what to do.

If you want to give yourself a chance to create a successful business then you should read the autobiographies of some successful people.

Most successful people reveal the basic elements they learned and applied.

Failure is quite often the best teacher.

Successful Business

Successful Business

Its no different than trying to learn to play a musical instrument.

You will fail often unless you practice often and get better at it.

Pay attention to all the details that business owners have learned and apply them to your business.

Focus on what they said worked and on what didn’t work.

Stop trying to reinvent the wheel and figure it out on your own.

Anyone who wants to create a successful business needs a mentor, lessons and lots of practice of what you learned.

Finding the right ideas for starting a business

Do you know what you want?

That is where you always start.

Having a clear vision of what you want and then you:

  1. Create a plan of action
  2. Write it all down
  3. Take massive action daily

Having the right ideas for staring a business is like baking a cake.

You have to get all the ingredients and then you have to combine them in the right proportion and order.

Do you know what happens to a cake when you don’t get the ingredients right?

Exactly, you don’t get the desired outcome.

Same thing applies to your business.

Once you get the recipe right, that becomes your process to follow.

All successful business models have a process or a system.

This is where mentors and coaches come into play.

Stop trying to figure it out on your own.

How Incredibly Successful People Think

If you want to have a successful business you need life skills and business skills

You can have all the good ideas for starting a business but if you take no action, nothing will happen.

Whether you want to build  successful online businesses or traditional businesses you need both sets of skills.

Don’t be fooled by any business model including franchise operations that if there is a system you will succeed.

A franchise is just a system with a step by step plan.

If you have little or no business or life skills you will fail.

Investing into yourself is wise because you are your best asset.

In fact people are the best asset in any business model but most business owners look at tools, systems and resources first.

Successful Business

Successful Business

Is it easier or more difficult to build successful online businesses?

It is more challenging for people to build an internet marketing business because of the diversity of tools, resources and systems required.

There are many pieces of technology that are generally required.

You have to figure out how to work all the pieces of this complex puzzle.

The main challenge today is learning what you are good at because no one can do it all.

Technology is changing so fast that as soon as you figure it out the game has shifted.

There are lots of great tools, resources and systems available but it takes too much time to learn.

Social media, websites and plugins, copywriting, blogging, affiliate marketing, traffic generation, converting the traffic to leads and then to sales and autoresponders just to name some of the components you need to build  successful online businesses.

Is your head spinning yet?

My personal experience for the first three years online was trying to find the right people you can trust. (and stop my head from spinning)

I discovered, much to the chagrin of my credit card, that most internet marketers teach and sell you one thing and they are doing the complete opposite or just not giving you all the right information you need.

Finally, after 3 years I discovered more of the right people and this changed everything in my internet marketing business.

This is why I partnered up with an associate who had gone through the exact same experience.

We are modelling our mentors who build relationships, give exceptional value and only promote the best tools, systems and resources.

We are now teaching internet marketers the fundamentals to create whatever business model they want.

If you want to get started on the FREE training to see if this resonates with you click here.

Successful Business

Successful Business

Cheers

David Thompson

Success is yours to discover…imagine!

If you got value out of this post on successful business then you can leave your comments and please feel free to share it!

P.S. If you want to get started with your Free training today click here?

 

 

 

 

 

 

 

 

 

 

About David Thompson

I help anyone in any business at any level of experience create profits through internet marketing using the right tools resources and mindset. my website, my business, and follow me, +David Thompson on Google+.

Comments

  1. Fundamentals, Consistency, Mindset, Persistence. Great article.

  2. Thanks for all the great information on starting a successful business. There are always gong to be new ventures to choose from and looking at them properly and understanding the risks is essential.

  3. Powerful post David I agree with you that opening an online business can be more challenging than a conventional one specially because of the mindset you’ll need to develop in order to grow a successful asset. This was a great read thanks for sharing!

    • Welcome Pedro. One of the great challenges for most online entrepreneurs is the isolation we go through sitting in front of the computer. Creating masterminds and connecting with other people headed in the same direction really helps.

  4. Hey David,

    What an insightful post.

    The secret is THERE IS NO BOX so think absolute open air abundance…see yourself bigger than your wildest imagination…once yo lock in that picture, Its time to Plan your strategy…remember David didnt Kill Goliath with a super rocket launcher…he used a simple piece of rock and sling. So Keep It Simple Stupid BUT make sure your plan is Targeted and razor sharp to produce Giant results.

    Absolutely Take massive action. Persevere. All the things you have said above to create a successful business, with a huge dose of elbow grease, Focus, Commitment and Action that is simple innit 🙂

    • You are so right Julie. Anything is possible when you believe it. So many people try to over complicate it. KISS works. There are a lot of components to put it all together but when you have the passion and desire and the vision you will find what you need. The right tools, systems and the right people.

  5. love the tips you shared here david. thank u

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