If you are reading this blog post, it probably means that succeeding in business is probably one of your top priorities. While succeeding in business is a top goal for many business owners, there is always a strong debate on what exactly you need to succeed in business. Here are a few of the top contenders, and then I’ll leave it up to you to decide.
Many people may argue that money is the number one thing you need in order to succeed in business, especially if you are running a business that requires a lot of start-up capital to get off the ground like a restaurant or a retail store. While money is most certainly a necessity for some businesses, let’s quickly recap on one of our most favorite television entertainment series, Parks and Rec.
Remember that one time Tom and Jean Ralphio get a bunch of money and start a company called Entertainment 720 where they basically just spend their money doing awesome things, but forget to write up a business plan and bring in any profits. They eventually end up running the business into the ground.
While it’s a silly example, it’s a good reminder that while money is important, it’s not always all it takes to be successful in business.
The second thing people often say you need in order to succeed in business is discipline. Many entrepreneurs are great idea people, and if ideas were all it took to run a business, their businesses would flourish. However, in order to get those ideas up and running, it takes a lot of hard work, and discipline to do the boring stuff. You may have great ideas, but without the discipline to get through the paperwork, cut through the red tape, and putting in long nights of procedural work, it’s hard to be successful.
If you were to sit down at a table with colleagues and discuss this very topic, someone would undoubtedly bring up the idea that successful businesspeople take risks. And, to a large degree, it’s true.
After all, it’s hard to start a company if you’re not willing to sacrifice some and take some risks. You may need to risk a state of debt to get a business loan. You may need to risk the security of traditional health insurance while you get your company up and running. You may need to risk the comfort of a full-time job to pursue your passion. Without taking risks, it’s difficult to be a successful businessperson.
Finally, if you want to succeed in business you need persistence. You need to be able to keep going when it seems impossible. You need to be able to make mistakes, learn from them, and still come out on top. Even if you fail, you need to pick up and keep going. Persistence is key to becoming a successful businessperson.
So, what do you think? What is the most essential thing you need to succeed in business?