5 Things You Need to Start a Successful Business
By: Lauren Marsicano
Insta: @networkingmaverick
5 Things You Need to Start a Successful Business
You want to start a business. That’s great! But it’s not going to be easy-breezy-cheddar-cheesy. Business startup is not a risk-free venture, so knowing what elements can help you succeed is incredibly important. Luckily, I know a thing or two about not only starting a business but making sure that it’s a successful one–– let’s explore what you’ll need to define business success on your own terms!
1. Strategy
Much of the work that goes into creating a robust business is a solid business plan.
Ask yourself the following questions to help build that plan:
What audience is my business targeting?
What makes my product appealing?
How will I make my business more appealing to consumers versus my competitors?
Knowing the answers to these questions can help you understand what path your business should take, and how to structure your ventures and goals.
2. Risk-taking
Another important part of business is understanding risk-taking. Don’t feel pressured to take huge risks or to throw money around. Instead, take small, controlled risks. By testing your ideas (for new products, ventures, etc.) on a small scale, you can build on what works well, change what doesn’t, and move on relatively unscathed from disasters.
3. Mistakes
Speaking of mistakes… Let’s agree right now that we all make them, and that means you will make them in business too. It helps no one if you fixate on them or become discouraged. The key to gracefully overcoming mistakes is to learn from them. Successful people learn from their mistakes and move on. Perfection is the enemy of success, because if you never fail, you’ll never learn.
4. Marketing
In today’s day and age, there is a certain level of digital marketing that is absolutely necessary for a successful business. At the very least, you need a professional-looking website, as well as some form of accessible social media (Instagram, Facebook, LinkedIn, Twitter, etc.). Social media presence is modern word-of-mouth: it’s how customers will find you, refer you to others, or decide whether to patronize your business. And building a robust email list of leads and customers is key to staying in touch with your audience should any of your preferred social media platforms go out of fashion. Marketing is 100% necessary.
5. Networking
Having a strong network is crucial to success in business. Through your network, you will be able to find those who will support you, those who you can learn from, and those who can help you achieve success in your business. Recognize those who are valuable to you and your business, and bring value to others. Those who give in business, gain loyal business connections.
Strategy, risk-taking, mistakes, marketing, and networking–– these are what I’ve found to be the most important things to understand and keep in mind in order to achieve success in business. And I’m confident you can succeed in your business too!