7 Key Secrets to Succeed in Business.

Most entrepreneurs have spent years working hard to achieve the success they have today. I wonder how you can do that too? Study their best practices, mistakes, and key personality traits to emulate them and dramatically shorten your own path to success.

Often, it takes years of trial and error to discover these secrets. I put an end to the excuses of not knowing what to do and give them to you  here. But the only real secret is that it is action, not knowledge, that leads to real achievement.

 Ready to get started? Here are  seven secrets that I consider essential to the success of any entrepreneur:

1. Hire for success despite your limitations.

Everyone has limits. Maybe you have trouble focusing on one thing at a time, say yes to too many things, have  health problems, or don't know much about technology. Maybe you're good at ideas but bad at execution. Not important. You can always succeed by incorporating the right people into your team.

The billionaire founder of Spanx, Sara Blakely, says the best thing you can do is hire to cover your weaknesses as soon as you can. Overcome roadblocks and uncountable years of indecision by hiring a business partner to give you the push you need  or a sales representative to market your products in-store. Whatever your weakness is, identify it and address it  as soon as possible. 

2. Raise more money than you think you need.

Venture capitalist Sam Hogg recommends that every founder raise twice as much money as they think they'll need and plan for it to take twice as long. Founders worry about dilution, but as HelloSign founder Joseph Walla discovered, having enough money means achieving positive cash flow, and that doesn't mean having to go out and raise Another round in the development process.

The important lesson here is that time spent raising money is time you're not spending growing your business. You tend to ask for less so as not to be disappointed if your larger request fails, but to restrain the urge for the sake of your business. Do all of this at once and in a way that gives you the working capital you really need - not just what you think you're doing.

 3. Thorough market research.

The number one reason  startups fail is due to lack of fit in their market. Determine the value you can provide to customers and how to reach them quickly and effectively.

Do you have a compelling value proposition or short-term event that could inspire customers to make a purchase? Is your market timing well adjusted? Is the group of people you are solving a problem large enough to sustain your success? Forget about 30-day success, or even none, if you don't know who you're trying to reach or whether the market is  ready for you.

4. Use the right tools to attract customers.

Successful entrepreneurs know which tools work despite the hundreds of conflicting reviews circulating online. Don't get overwhelmed just thinking about the options available. Instead, focus on what successful business owners have to say.  I personally recommend a few tools like Wyzowl for creating web-ready videos and MailChimp if you're just getting started with email marketing. Whether you follow my advice or someone else's, test yourself to determine whether the tools you're using are delivering a solid ROI.

5. Prepare for change.  

It's no surprise that events arise that challenge your business. Business can be unpredictable and seriously undermine your plans.

Maybe a competitor just released a beta version of the product you're  developing. Perhaps your supplier is having serious difficulties filling orders and maintaining quality. Maybe your partner wants  to pursue a different idea and wants to buy back. Either way, be prepared to pivot and make changes quickly, no matter the challenges you face.

 Take inventory of the issues that could impact your business, then take appropriate action, such as including a short-term clause in your partnership agreement or researching a new technology. new.

 6. Focus on the 20 percent.

Whether it's life or business, 80% of the results come from 20% of your efforts. As a result, successful business owners focus on the most important 20% and many outsource the rest.

Steli Efti, founder of Close.io, shared the lessons he learned from outsourcing non-core work. Among them? Don't outsource sales too early, be specific when hiring your subcontractors and make sure to follow up on all leads.

 7. Provide customers with exceptional service.

Many businesses fail to reach their potential because they focus too much on selling and forget to provide a great customer service experience. Customer service is more than just resolving complaints. It also involves customer loyalty programs, referral incentives, and other customer-focused activities.

I totally concur with the statement that "Sales without service is like putting money in a pocket with a hole in it." If you're not making investments in this crucial area of growth, now is the time to do so. You could find it useful to spend a day working with your customer-service team to identify problem areas, or you could ask staff members in this division about the major difficulties they face.

Whatever method you choose, act on what you learn. Instead than merely saying you need to offer better service, really do it. Do what you say you're going to do, and make sure you're assessing the results.

If the key performance indicators you've linked to your service KPIs don't show a discernible increase, try refining your approach until you find the right mix.

No matter who you are or what you're attempting to do as an entrepreneur, you may succeed by modeling the strategies employed by successful businesspeople before you and customizing them for your own venture. Are you prepared to act now?

Which of these success tips will you implement right away? Write about your favorites in the space below. share with Investodia