Learn from Others Success: Embracing Business Wisdom from Others
One of the biggest benefits of starting a business today is that you don’t have to do it alone. So many successful entrepreneurs have shared their journeys and continue to publish content about their successes that it becomes much easier to walk in the footsteps of those who have come before you.
There are plenty of mistakes that small business owners can be prone to making, roadblocks they can fail to see coming, and advantages they can fail to capitalise on. No one is going to start as an expert, no matter what field you are in.
Besides specific insights, however, there are broader habits that are both emblematic of and partially responsible for success in the business world. Here are some of the habits that some of the top business minds have identified as playing a role in their rise, and how you can integrate them.
Stay up to date about news inside and outside of your industry
One tip that business leaders often share is to read, read, and keep reading, every single day, on every subject that’s relevant to your business. This includes not just trends and news in your industry, but trade, business, technological, and financial news that could inform your business. Having a few local, national, and international news sources to follow, so long as they are serious enough to cover news that will genuinely be valuable to your business.
You can find insight from a wide range of places. International trade deals may open up new opportunities for expansion. Recent real estate transactions could show you areas that are becoming a more valuable market or potential competition arriving in the area. Read all news through the lens of how it affects your business and you could catch insights before any of your competitors do.
Networking isn’t just for people building their career
Successful people surround themselves with other successful, positive people. You could play it all down to magnetism, how success draws others closer, but the truth is much more likely to be that they have intentionally looked out for those who could have some benefit to lend them. Networking with other industry leaders, relevant service providers, newcomers to the business, and others is all about investing in assets and resources even if they aren’t there yet.
The links that you build now could grow into something much more valuable when an industry friend develops a platform large enough to make a valuable cross-promotion opportunity for you or when a young up-and-coming develops the experience and the skills that could make them a valuable asset to have in your business.
Build a routine that involves eating the frog
Highly successful entrepreneurs know what they’re going to be doing from as soon as they wake up until they go to bed. Daily, weekly, and even monthly routines can ensure that you’re making the most productive use of your time and help lend some stability to growing a business, which can often feel stressful and a little chaotic at times.
From a healthy morning routine to get you to work to scheduling time blocks for what you’re going to accomplish in a day, create a semblance of order to how you work. For many successful entrepreneurs, this includes a tip that has grown a lot more common lately: eating the frog.
Eating the frog means tackling the most frustrating, difficult, or important task first. It’s all too easy to procrastinate and let that particular task get more and more imposing, intimidating, and stress-inducing. By getting it out of the way first, you relieve yourself of that weight and improve your ability to focus and be in the moment, rather than constantly worrying about what’s to come.
Be responsible, be accountable
Business owners and leaders set the culture of the company. It’s not just by listing down values that are important to you, it’s by living those values out and setting the example for the rest of the team to follow. It’s do as I do, not do as I say.
Nowhere is this more important than in addressing mistakes, failures, and missed goals. If you have a team that focuses on assigning blame, you make it harder to address what genuinely led to the problem in the first place. You want people to own up to their role in mistakes and failures. To do that, you have to own up to your own.
The buck ultimately stops with you when it comes to missed goals, as you have the authority and reach to address problems within the team. By making you responsible and letting the team know your part in the problem, it encourages others to be forthcoming about their own accountability, too. So long as you don’t punish those who come forward, it makes a much healthier, cooperative workplace that actually addresses its own shortcomings.
Dream big and achieve little
Goal Setting is essential if you want a business to grow. However, what kind of goals you are setting is important. A business plan can help you address the long-term goals that can help you succeed in sustaining and growing the team by the end of the year. Write the goals of the plan down, make sure the team knows it, and keep it in your mind.
Then, break it down into short-term, measurable and achievable goals. These will be less lofty, but will more clearly have actionable steps that can be taken to make them a reality day-by-day.
Start your journey off on the best foot
There’s nothing wrong with striking your own way in business, finding your individual path and style, and breaking the mould. However, it pays to at least be aware of the wisdom of those who have come before you. Hopefully, the habits above highlight the value of paying attention to those who have already made their success and making it your own. You have to bring your own energy, motivation, leadership and creativity to the table, but that doesn’t mean you have to build your business habits from nothing.
