In the previous posts, we had talked about investment, its types, factors and its risk. For those who did not read check it, the links are below the page !!
This post is devoted to the success in business field, many people make their first step in this domain without being aware of some points that are major to everyone who want to become successful in business. So these are some tips that everyone must follow before making their business plans :
1/ UNDERSTANDING FINANCE :
None can deny that every rich person or millionaire in the world has started at some point from a low level to reach up to the top . Yet, this development in their finance situation was gradually rising by the accumulation of money, yes I agree! it is not really necessary to start with a large amount of money and that's the point in finance! That is how finance works! It requires high degree of concentration and intelligence to grow with your business.
2/ CONSIDER RISK AND REWARDS :
As we had seen in the previous articles about investment, risk is a major factor of success that should be taken into consideration in every step we make in any project. And to be successful in business it is highly recommended to start your analyse with a smart calculation of risk degree. Then, we could talk about rewards that come after a good calculation of risk rates.
3/ GROW AS A LEADER :
If you want to be very successful in business never underestimate yourself no matter the reasons, be what you are and have faith in your skills. That is to say aim for the top, which is being the leader. A leader is the lifeblood of a group, he gives instructions control and discuss business plans with his subordinates, so to be successful you have to think, act and grow as a leader. ( We will focus more on the characteristics of a leader in the coming articles) .
4/ PARTNERS :
We all know that our success is closely related to the success of our partners, so to have a good start in our business plans we are supposed to search for the right people to support us and move forward with them. That is to say, when you have good partners who support you and on whom you count you will grow together and be successful.
5/ PREPARE TO MAKE SACRIFICES :
Being successful requires sacrifices. Indeed, no one can become really successful if he does not invest more time on his work than most of the things in his life, such as the time spent with family or free time in general. Sometimes, you could face a really hard obstacles that would make you reconsider your goal or dream, yet you should keep in your mind that it is sometimes necessary to make a hard decision for the sake of success.
6/ OVERESTIMATE EXPENSES :
To be honest, the estimation of expenses is always false, it is impossible for any one to give a perfect estimation in business field. So, to work safe with numbers, always overestimate expenses and underestimate your revenues. This way you avoid too much disappointment in you business.
7/ FOCUS ON FUTURE :
If you want to be more than an ordinary person who likes business and do not have any competitors in this domain, you should not pay more attention to the present than the future. That is to say, to have a long term strategy and view, so you could develop your analysis skills and get more accurate results in your business. To sum up, the more you focus on the future the more excited you become about your business plans and projects.
If you have any remark or add please comment bellow, to those who didn't check my other posts about investment, the links are bellow,
" Summary of previous posts " :https://steemit.com/investment/@simolab/7-summary-latest-posts-investment
"How to analyse your investment" : https://steemit.com/investment/@simolab/6-how-to-analyse-your-investment
" Investment risk how to manage it" : https://steemit.com/risk/@simolab/5-investment-risk-how-to-manage-it
"Investing in steem as early as possible" : https://steemit.com/steem/@simolab/2-invest-in-steem-today-before-tomorrow,
," Tips to start an investment" : https://steemit.com/investment/@simolab/3-tips-to-start-an-investment
, "Investment factors": https://steemit.com/investment/@simolab/4-investment-factors-learn-how-to-manage-it
and my introduction post: https://steemit.com/introduceyourself/@simolab/hi-there-let-me-introduce-myself.
100% OWN WORK !!! , based on my management studies experience, except for the IMAGES !!! The source is bellow :
IMAGE SOURCES:
ttentrepreneurship.com/wp-content/uploads/2015/03/bigstock-Business-Success-4463311.jpg
www.metrac.org/email/thanks.reading.2.png
tta.edu.au/products/1473/2888
www.riskope.com/wp-content/uploads/2014/08/Depositphotos_21848941_xs.jpg
pbs.twimg.com/profile_images/615983583585509377/kNC6zTRv.jpg
www.collabor8.com/files/partner_banner.png
w3.chabad.org/media/images/940/nyIk9400952.jpg
companybug.com/wp-content/uploads/2015/05/dreamstime_s_12436942-e1408569723362.jpg![focus future.jpg]
steemitimages.com/DQmf8wLx4mSQ7vMKmkjd8ooZfkiP7owuD5GkBfBngNTrzn1/focus%20future.jpg)