Is there a magic formula for success?

By April 30, 2015Business, Planning
magic

The challenge in business is to find the perfect mix between what you do, the strategies you use and the people you serve to achieve success and ensure your business can continue to operate and grow. What works for some, won’t work for others. There is also a little bit of luck and being in the right place at the right time that can affect the results. Success is what we all aspire to but is doesn’t come easily. However, strategically using a few key ingredients can help to overcome obstacles on your business journey.

Passion

Passion is something that fuels the fire. It is your boundless enthusiasm for something that provides your internal drive to learn and grow.

Purpose

Purpose is the reason for the business existing. For a business to succeed, it needs a purpose that provides an answer to a problem.

Grit

Grit is the determination and perseverance to keep going when things get hard. It is the resilience to adapt during adversity.

Processes

Processes are the activities you undertake to fulfil your purpose. These include systems for customer service, communication, workflow, time management, lead generation, shipping, record keeping and administration.

Resources

Access to a range of resources affect the success of a business – this includes financial (funding), human (talent and strength), educational (in-depth knowledge), physical (workspace, information systems, suppliers, marketing materials, etc.) and emotional (support team such as a mentor or professional group).

 

It is what you do with these vital elements that will help to determine the direction and future of your business. Success takes hard work and experience. You cannot operate on just passion. If you are driven on passion but loose sight of purpose, you will be trying to run a business doing what you love, but it may not fill anyone’s needs. Grit needs to be kept in check with key factors such as resources and processes so you don’t keep trying unsuccessfully to do something that could and should be done another way.

No one can tell you the magic formula to ensure a path of business success but use your passion, grit, resources, processes and a clearly defined purpose and you could be well on your way.

 

About Caroline

Caroline is a specialist in business creation, growth and change management. Her aim is to empower start-ups and small businesses to drive growth through the development of business ideas, product and service development, strategy and system planning as well as business branding and promotion.

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