In the business world, success and failure(or near success) are separated by only a few habits repeated CONSISTENTLY over time.This is a two part article series.In this post, I will be telling you three qualities that can determine your success in the business sphere. Here we go.
1. Time Management
Time management is also known by some as life management. If you can manage your time, you will definitely be able to manage your life (which of course includes your business). Knowing how you spend time on specific aspects of your business can tell how productive you are. Basically, spending more time on your most important tasks increases productivity and the other way round also applies-you reduce productivity when you spend more time on less important tasks.
The 80/20 rule explains this a great deal and it applies to almost everything in business. The rule explains that 20 percent of work done accounts for 80 percent of the results.
This can also be put as, 20 percent of the time spent in business accounts for 80 percent of the results achieved. It can also mean, 80 percent of your customers account for 80 percent of your sales.
The trick here is to decide which task is most important to you at the moment and to do it AT ONCE. The next most important task then comes in and the order goes on.
There is no way around it-focus on your most important “few” and record great results; focus on the less important “many” and record little results.
2. Knowing When To Say “No”
Many of us have the problem of saying “no.” We have the feeling that by saying no, we would lose a particular customer. This feeling is of course justified and no one is left out. But insome cases, it would be very unwise to go into a deal or accept an offer. One of such cases is when you and up being the loser. In a business deal, the best situation is a win-win situation.
3. Remaining Innovative
In the world we find ourselves now, innovation rules. The world rewards innovation. Being able to come up with something new frequently is an integral part of building a successful business especially if your niche is a highly competitive one.
Talking about the online online business world, a person or business that offers the same product over and over again with no special or deluxe version, the same form of packaging, the same advert over and over again has a very high probability of experiencing dwindling sales or losing loyal customers. They’ve purchased it all and there is nothing else to buy. The picture often ends with disillusioned customers or buyers.
The second part of this article will be posted in a couple of days. Stay cool as always.
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Wealth and Lifestyle Blog.