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11 Personal Factors That Determine Business Success

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StrategyDriven Professional Development Article |Determine Business Success|11 Personal Factors That Determine Business SuccessThere’s no shortage of things that influence how successful a business will be. Much of it has to do with the strength of the idea and the execution of those ideas. However, it’s also important to remember that they’re not the only things that influence business success. It’s a complicated aspect of life that everything from politics to world events can influence. One of the biggest influences is personal. It’s about the person who’s leading the company.

In this blog, we’re going to run through a bunch of personal factors that you should keep an eye on because they might just impact the future of your business.

Your Routine

It’s not just what you do while you’re at the office that counts, but what you do outside of the office too. You’ll likely be pretty good at coming up with routines for when you’re at work. But it’s also important that you have a routine outside of work, too. If your routine isn’t well established, or it’s damaging, then you’ll be unlikely to arrive at work ready to hit the ground running. A chaotic schedule outside the office will create chaos inside the office!

Where You Work

It’s not just how you work that’ll guide the future of your company, but also where you work. There’s a big difference between working at a cramped kitchen table and working in a beautiful office. This is something that we all intuitively know, but it’s actually been backed up by research in recent years. People work better when they like their surroundings! If you’re currently uninspired by your working environment, then it could be time to upgrade your office space. You’ll find that, by doing this, you don’t just work better, but that you also raise your company’s standards.

Soft Skills

You may have a vision for where you want to take your business. But you won’t be the only person involved in that process — there’ll be plenty of others, from staff to contractors to customers and beyond. As such, it’s vitally important that any leader develops the soft skills they need to get where they want to go. Everything becomes much easier when you’re effortlessly able to talk with other people in a friendly manner, for example. Don’t worry if this isn’t something that comes naturally to you — as with most things, it’s something that you can learn.

Energy Levels

It takes a lot of time, effort, and energy to build a successful company. If you lack any of those things, then you’ll find things difficult. So let’s think about energy. Are you continually getting tired and finding it difficult to work at a high level throughout the day? Then it’s likely that something needs to change. There are plenty of tried and tested methods for boosting energy levels. For example, you can improve your sleep, begin exercising (which boosts endurance), and rethink your relationship with coffee; that caffeine hit will be beneficial at first but may cause an energy crash later in the day.

Optimism

There are times when we make our own reality. If you go into things with an optimistic, positive attitude, then you’ll be much more likely to succeed than if you went into it with a negative attitude. Your attitude might seem like a small influencer, but it’s not — especially not when you expand the timeframe over the course of a lifetime. A person with a positive attitude will see and do things that the negative person would not. Of course, you can’t be positive all the time, but if you find yourself slipping into negativity a little, then it’ll be important to rein things back in a little.

Leadership Skills

Business owners learn, at some point or another, that they won’t just be in charge of their own work. They’ll also be in charge of other people’s work. And that means that they’ll need to call upon their leadership skills if everything’s going to run smoothly! There’s a big difference between being a boss and being a leader. Anyone can be a boss. It takes work to become a leader. But it’s work that’s worthwhile conducting because of the massive impact it can have on a business — and, indeed, the impact it can have on the lives of the workforce.

Adaptability

There are some things in life that you can control and some things that you can’t. When you’re running a business, you can do a lot to ensure that your company can work well. But then, you never know what’s going to happen. Any number of external factors could play a role. And when they do, it’ll be the company’s adaptability that determines how well they’re able to continue moving forward. It’s a good idea not to get too locked into one way of doing things. If you’re open and adaptable, then you’ll be able to roll with the punches and find success in a new environment.

Ability to Spot Problems

There’s value in valuing the good things that you do. But in many cases, it’s identifying the things you’re not doing correctly that can have the biggest impact on a company. The good aspects of the organization will naturally reveal themselves. The bad ones can stay lurking in the corner until at some point they reveal themselves — and at that point, it may be much more difficult to undo the damage. It’s a good idea to perform periodic reviews of your company’s operations to check that there’s not some fundamental error that could cause major problems.

Outside of Work

It’s impossible to have a frantic personal life and run a successful business, at least on a long-term basis. They say that you should keep your public and personal lives separate, but that’s never as easy as they make out. There’s a lot of value in working to ensure that you’re physically, mentally, and spiritually well – as well as making life more enjoyable, it’ll allow you to work better. Of course, most people don’t need to radically change their overall health. But even small improvements can make a big difference. For instance, if you’re drinking alcohol a little too regularly, then a short break can do wonders.

Willingness to Learn

You’ll begin your company knowing some things about what it takes to be successful. But the majority of what you know should be learned when you’re running the business. If you make time for — and have a willingness for — learning, then you’ll be putting yourself in a good position for success. There are plenty of highly valuable business blogs, books, podcasts and more out there that can give you the inside scoop on what it takes to find success. However, while all that information is there, it’s up to you to seek out and absorb that information!

The Grind

Finally, let’s talk about the grind. You could know everything about building a successful company, but if you don’t have the capacity to work for long hours and chip away at all the tasks you need to do, then you won’t be successful. The grind is something that you can’t think about or read about in books — you just have to do it. There’ll be times when your business has to be your whole life. Make it so!

Conclusion

And there we have it. The above won’t guarantee success, of course, because there are so many other elements involved. But they will be important steps along your journey towards building a successful company that make everything easier.

4 Tips to Help You Overcome Imposter Syndrome

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StrategyDriven Practices for Professionals Article |Imposter Syndrome|4 Tips to Help You Overcome Imposter SyndromeThe period after accepting a job is filled with a range of emotions. You are excited for what the future holds, but you may also feel overwhelmed by the stress of expectation. This can cause you to experience imposter syndrome, where you believe you aren’t as capable as everyone thinks you are and, sooner rather than later, you will get found out. This can be a debilitating experience that could impact your performance. So how can you overcome imposter syndrome and thrive? Here are four tips to help you.

Gain Experience

Inexperienced professionals are often most prone to experience imposter syndrome, and one of the easiest ways to beat this is to gain experience. Internships, courses, and programs like the HBS 2+2 can all help you prepare for a new role or position and help you understand what a professional environment is like. This approach can settle your nerves and enables you to get a feel for appropriate behavior and decorum within the office. Depending on the type of experience you seek, you can also learn key teamwork skills and improve your presentations to prevent nerves.

Use Positive Self Talk

If you’re someone who uses self-deprecating humor as a defense mechanism, it’s time to make changes and overcome imposter syndrome. Understanding the benefits of using positive self-talk will help you believe in yourself more. Although you might not think self-deprecation is doing any harm, it can eventually rewire your brain to doubt yourself at every turn. Replacing this talk with a positive attitude will alter your entire way of thinking, which will give you the confidence you need to succeed.

Recognize Your Strengths

Similarly, it’s easy to highlight your faults and know what you can’t do, which is one of the major issues with imposter syndrome. But, identifying things you are good at and having the confidence to show these skills off is a great way to overcome any feelings that you’re not good enough for the role. It can be even more effective to write these skills down and use them as a ‘Brag Sheet’ that you can reference whenever you’re feeling low on confidence as it can help you refocus.

Have Someone to Talk To

You don’t need to deal with imposter syndrome alone, and having someone to talk to will give you the emotional support you need to cope with any doubts you might have. This support network, whether it be your partner, friends, fellow professionals, or even strangers, is crucial for gaining a different perspective and helps you approach your problems from a new angle. It’s easy to gain tunnel vision when you feel overwhelmed with imposter syndrome, but getting advice from others will broaden your scope and give you positive reinforcement.

Overcome

Often, your biggest enemy is yourself, but it doesn’t need to be. It is natural to feel you are not good enough, but knowing there is a reason you were hired and reminding yourself that you are good enough will help you overcome imposter syndrome and excel in your career.

Investing in Yourself and Becoming That Leader Who Makes a Difference

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StrategyDriven Professional Development Article |Leader|Investing in Yourself and Becoming That Leader Who Makes a DifferenceThere are leaders out there within the workplace that do not make an impact and that do not make a difference, and to ensure that you do not end up as one of these leaders, it is important that you invest in yourself. You are always investing your time and energy into others, and now it is time to focus on yourself. You need to make progress and changes, and to do this, you need to improve what you are offering.

Studying and Developing Your Skills and Knowledge Base

How much you know and how aware you are of the industry, marketplace, and role you are in can determine how successful you are. When you complete your bachelor’s online, you shift your focus and your efforts back onto yourself, and you once again focus on developing your skills and knowledge, which can then be directly implemented into your role. A bachelor’s will allow you to develop those areas or subjects which you may feel are not your strongest areas of expertise. Investing in yourself and in your education will ensure that you are a leader who can implement and bring about change.

What Changes Do You Want to Make?

To make a difference within your business or organization, changes must be made, but do you know what changes need to be brought about and why? Establishing root causes of problems and having the vision to make things better is what you need to be focusing on. A great advantage of studying for your bachelor’s is that it will allow you to see where opportunities for change and development lie. Through studying, you will be able to see how you can look at your business or organization differently, and most importantly, through the eyes of the leader that you are.

What Type of Leader Do You Want to Be?

Not all leaders are the same, and so what type of leader do you want to be? For example, do you want to be one that leads from the front and commands attention, or do you want to be one that leads from the middle or the center of operations? When you know what type of leader you want to be, and you know what style of leadership suits you, then you can implement your ideas with confidence and begin looking towards the future.

Focusing on the Future

Making change can be quick, but quite often, changes happen over time. Knowing where you want to go and where you want to be as a leader is important. Your vision will help shape and define your business or organization, so it is important that you are always focused on the future. Having targets and goals for change is important, as is being open to change and improvement. Nothing ever stays still, and neither should you. A good leader who truly cares about getting results and making an impact will keep pushing and applying gentle pressure to get where they want to.

How to Build a Team for Your New Business

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StrategyDriven Managing Your People Article |Build a Team|How to Build a Team for Your New BusinessStarting a business comes with many milestones, all as exciting as the last. You will make your first sale, rent your first workspace, and, eventually, hire your first team members. Giving new employees the responsibility of looking after your business can be daunting, especially if it is your first time, but it’s a crucial part of growth. Here’s how to build a team for your new business.

Consider Outsourcing

First of all, it is important to know that you don’t have to hire a person for every part of the business. For example, if you need an accountant, there’s no rule saying you need them to work in-house. There are plenty of companies offering accounting services for much cheaper than full-time staff, and if you want to save even more money, visit https://givingassistant.org/coupon-codes/legalzoom.com for Legal Zoom coupons.

Post Job Ads online

Most people look for jobs online, so write an inviting job ad to appeal to more talent. Make sure you include exactly what you are looking for, such as experience and education levels, and don’t be too vague about the job type. If you want an all-rounder, simply state that!

Know What You’re Looking for

One of the biggest mistakes new business owners make when hiring their first employee is not knowing what they’re looking for. This uncertainty could lead to confusion and an unhappy staff member, so make sure you determine what you want in an employee before you begin your search.

Decide on Interview Questions

Your interview questions don’t need to be deep or complicated; after all, your goal is to get an open conversation rolling. You want the interviews to have direction, though, so come up with interesting questions that are relevant to your business and will get the ball rolling.

Provide a Great Space

You want to give your team members a pleasant work environment, so make sure there is enough space and that it is well decorated before their first day. You should also consider natural light, break area, how much noise there is, and the temperature – no one wants to work in a cold, dark room! By providing a comfortable workspace, you increase employee retention.

Keep an Open Mind

Who you hire might not be who you envisioned when you first started the hiring process. Often, business owners have an image in their head of their ideal candidates, but in reality, the person who will perform the best won’t match your exact description. It is also worth considering giving someone with less experience a position, as they can learn and grow alongside your business.

Up Your Leadership Skills

As a business owner with a team, you have more responsibility than you did previously, which means increasing your leadership skills. Some points to focus on include your communication, empathy, listening skills, and influencing ability.
By giving thought to each step, you ensure that you save money, find great talent, and provide your team with a great place to work.

Which Qualities Define a Successful Entrepreneur?

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StrategyDriven Entrepreneurship Article |Successful Entrepreneur|Which Qualities Define a Successful Entrepreneur?Let’s face it: everyone wants to be a ‘successful’ entrepreneur. The harsh reality is that few entrepreneurs become successful in their careers, irrespective of whether you use money or popularity as metrics to measure success.

You’re likely reading this article today because you have an entrepreneurial spirit brewing inside of you, and now is the time to do something about it. However, you don’t want to try your hand at business and fail at the first hurdle.

With that in mind, which qualities define a successful entrepreneur? The following points illustrate the qualities you will find in any entrepreneur that has made a name for themselves in their industries:

Hard Work

The path to success, however you measure it, is not an easy one. It requires a lot of hard work and determination to get to the stage where you can begin to reap the fruits of your labor.

Hard work is just one of many qualities found in all successful entrepreneurs, of course, but without it, you are unlikely to achieve your goals and aspirations in the business world.

It’s not uncommon to hear that many successful entrepreneurs like David William Sherrer have sacrificed a lot of their time and dedicated it to achieve their ultimate business goals. Hard work does pay off; you just need to be in the right mindset to follow through with it.

Education

People aren’t born with the knowledge they possess in their latter years; they educate themselves and get educated by others. Knowledge is wonderful, and it can also make you powerful as an entrepreneur.

Some people are born with an entrepreneurial spirit, while others learn the skills to become entrepreneurs through education and experience. Education can teach us about entrepreneurship and how we can use this knowledge will help to start or grow our own business.

For Australian entrepreneur Kath Purkis, to be a successful entrepreneur you need to educate yourself on the market to the point you become an expert. Understanding the market allows you to find gaps and profit from these opportunities when they arise. With constant education your business can stay ahead of competitors and continue to grow.

Passion

Imagine there are two people in a room selling identical products. One of those individuals is highly passionate about what they’re selling and projects positive energy from themselves by talking with almost encyclopedic knowledge on their products.

The other person isn’t particularly interested in what they’re selling and appears disinterested, even to the point of seeming rude to potential customers that ask questions about the products.

Which of those two entrepreneurs do you think is likely to finish their day and go home with no stock and a pocket full of cash? Passion is a crucial element you’ll find in any successful entrepreneur.

Passionate business leaders love what they’re doing and don’t mind putting in the extra hours and hard work into making their enterprises a success.

Conclusion

Success is a metric you can measure through different metrics. When talking about successful entrepreneurs, most people mean individuals that have profitable and popular businesses.
There’s no reason you can’t become a highly successful entrepreneur, as long as you have certain traits like those discussed above.