We all know that success in life depends on a combination of hard work and talent. There’s also no denying the “luck” factor – being in the right place at the right time and meeting the right people. That said, there isn’t a “secret” to that kind of luck. It’s about doing things that put you in a position for that luck to happen.
We found ten things that successful people do at the start of their work weeks. Try them out, and you might find yourself having better luck as well.
James Reinhart, ThredUp.com – Use weekends effectively
You can’t have a great Monday morning if you had a lousy weekend. Work is obviously important if you want to be successful, but there’s always something that can wait until Monday. Weekends are a time for yourself, to unwind, to relax and to think. In fact, many people do their best thinking during leisure time, because you’re free from other work distractions and can think abstractly.
For all the time executives spend concerned about physical strength and health, when it comes down to it, mental strength can mean even more. Particularly for entrepreneurs, numerous articles talk about critical characteristics of mental strength—tenacity, “grit,” optimism, and an unfailing ability.
However, we can also define mental strength by identifying the things mentally strong individuals don’t do.
Deciding whether to buy an existing business or start your own comes down to three things: what experience you have, what kind of business you want, and how open you are to taking financial risks.
Once you decide these things you can make a decision on how to proceed.
• How much experience do you have?
There is much more risk involved with starting your own business versus buying your own. 40 percent of new businesses fail in the first year and 80 percent fail within five years. If you have little experience with business or with the industry that you are planning on entering, buying an existing business is the safer route, as starting your own requires expertise in the areas of financing, infrastructure, and cash flow. Even if you are buying a business, it will take time to learn how it operates and where its weaknesses lie in order to craft a proper growth strategy.
Making a career change can be a challenging endeavour in the best of times, so this economy certainly doesn’t help. Sadly, a lot of people allow that to keep them frustrated and stuck–not just for the present moment, but for the long haul. They think about making a change, decide they can’t do it, and stick their dissatisfied noses right back down to the same disheartening grindstone. They will repeat the process the next year, and the year after that.
If that sounds familiar, what are your options? Suck it up and chalk it up to the fact that work is a four-letter word? You could, but there’s a better option.
Is there a guaranteed formula to follow (as the headline suggests?)
Of course not. A quick look at the people who have become successful entrepreneurs shows the paths they took are as unique as they are.
But—and it’s a HUGE but—while their behaviour was idiosyncratic, their thinking was not.
A study shows that serial entrepreneurs—people who have successfully started two or more companies—all followed the same approach. And if it has worked for them, it may very well work for you.
According to reports, 250,000 new products are introduced to the world each year. We’re overwhelmed by so many new product entries, which range from sophisticated new technologies like the Nest thermostat and infomercial sensations like Pajama Jeans. To complicate things, brands are introducing new line extensions like Kraft Sizzling Salads, Disney Appmates, and a wealth of “new and improved” products from venerable brands like Gillette and Kleenex.
But the fact remains that the success rates of new product introductions and innovations have improved little over the last 20 years. Reports show that 66% of new products fail within two years, and a startling 96% of all innovations fail to return their cost of capital. This is due to a number of factors, including economic conditions, an explosion of consumer touch points, shifts in decision-making behaviour, and the deluge of information marketers have to sift through to ensure they are up to speed with the latest trends.
How do you signal to the world you’re leadership material?
According to a new year-long study of over 4,000 college-educated professionals and 268 senior executives, you must be viewed as a leader in order to get promoted into top jobs. That takes executives presence, which is defined as having gravitas, excellent communication skills and a polished appearance.
These skills are required, but that doesn’t mean you rack up bonus points for having them. Instead, you get demerits for your mistakes, as superiors silently cross you off their good lists. So what are the pitfalls to avoid? The study uncovered the 10 worst communication mistakes that will instantly derail your promotion hopes.
Good customer service goes a long way in business; a happy customer is a customer who will recommend you to other shoppers, a returning customer,…. But so many companies just can’t get this right. They’re either putting their needs ahead of their customers’ or too wrapped up in finding new customers that existing ones become expendable.
I’ve had my fair share of experiences with bad customer service. Here are some horror stories… and what you can learn from them:
I’ve recently bought 30 books from a man who started the negotiation with “I do not negotiate.” True story. It wasn’t so much that he didn’t want to give a discount for buying multiple items, but what was most frustrating was his attitude in general. It didn’t matter how much I was spending, or how pleasant I was trying to be, he does “not negotiate” (or he just woke up on the wrong side of the bed) and nothing was going to change that.
Do you know if your customers are happy? If not, you should.
It’s imperative that you fulfil your customer pillars of delight. Otherwise, you might lose customers to your competitors. 48% of customers who had a negative experience told 10 or more people.
Unfortunately, more of your customers are likely to talk about your poor customer service or a bad experience compared to those individuals that love your company.
Your customers are your biggest assets. Don’t give them a reason to leave. Customer loyalty should be your ultimate goal, but it cannot be accomplished if they aren’t happy.
The holiday season is fast approaching! In the business world the holiday arrival often comes with an increased workload, more demands, and tighter deadlines. Even with all the tasks and stress taking up attention, it’s always worth taking a moment to show gratitude to those who support your business. Staying top of mind with your clients (in a positive way) is important.
One of the best ways to show your clientele that you appreciate them is by taking advantage of the Christmas season and sending gifts for clients as a heartfelt thank-you!
How to market effectively is one of the biggest challenges faced by small businesses and entrepreneurs today. There are many marketing techniques that can be used, and choosing the right approach for your business is not easy. Small businesses also have limited budget to use on marketing which makes it even more challenging.
A good marketing strategy is a very valuable tool for any business, whether you’re just starting out or have been in business for years. In order for your business to be successful, it is essential for people to know about your brand as well as the products and services you offer. This is where a good online marketing strategy can help.