Five steps to business success.

I was listening to a podcast by Chris Cardell and took the following interesting notes.

In this ever competitive world the benefits of being perceived as a thought leader in your business sector is paramount.

There are some excellent lessons you can learn from the top one percent of successful entrepreneurs and thought leaders in the world.  By taking on board a new approach to the way you do business; you will achieve more in twelve months than you have in the previous  twelve years.

The way you can achieve astonishing success and to accelerate business growth is by applying five simple ingredients:

1. Action and speed.  All successful businesses are those that are fast to market with a new innovative idea.  As a leader you need to have the compulsion to take massive actions – implementing marketing, online strategies, new products, price increase, communicating with customers, firing ineffective staff and suppliers and replacing with those more efficient players.  You need to take action 10 x faster than others.
2. You cannot thrive if you implement everything slowly – you try it out, then implement fast.    Take action simultaneously and not sequentially.  It creates some chaos – most entrepreneurs are surrounded by chaos because if you run your business too slowly, progress will be slow, step-by-step.  It will also allow your competitors to catch up and win.
3. Attitude and mindset around failure.  Winning businesses have a radically different view of failure.  Fear of failure is a barrier to entrepreneurial success.  You need to embrace failure.  These experiences are not real failures – they are results to learn from.  Example, Richard Branson has failed in business, many times.  He faced these set backs and failed again but it in the end he has had huge successful and great business results.  He is one of the top thought leaders in his class.
4. Marketing mastering.  Coming out of the recession we are facing a new economy.  Survival of the fitness.  Working with an average marketing plan and you will be crushed.
5. Immunity to criticism.  As you grow your business, taking risks will give you results.  People will try and stop you or slow you down.  There will be pressure and you need to manage this.

By applying the above steps to the way you manage your business, you will reap huge differences in the way your company will grow in the years ahead.