How to be successful in Business/Start-Ups : Don't chase money ... CREATE VALUE
We have all heard the unfortunate statistic regarding startups .. "90% of startups fail". While there are dozens of different reasons why this occurs, perhaps the biggest reason is a matter of the mindset of the entrepreneur(s).
Why even start a business?
Most people start businesses for the sake of becoming wealthy. There are few, however, that are started in an effort to create value for others or to fix a problem. If the answer to this question does not involve creating value for others by putting your customers first, you are already putting yourself at a HUGE disadvantage.
So how do I create value for others?
Here are some practical steps you can take today that will get you on track:
Start Small
Coming up with ways to create value for others with respect to your business can be daunting so start small. Find ways to help people in your everyday life. When someone is talking to you, ask questions. Get a deeper understanding of what they are communicating to you so you will have a better idea of how to create more value in their life.
Research
We have this amazing tool called the internet. Never look to one source for all your information. If you are struggling to figure out how to create value for others within your niche, research it. This isn't only limited to the internet, but talking to people in person about your niche will help immensely.
Be Adaptable
Some of the most successful businesses in the world, pivoted many times. Over time, they realized how they could better add value to others so they changed their business as a result. If you currently have a business and customers are giving you feedback, LISTEN to it. The most powerful advice for your business is going to come directly from your customers. Always be willing to change.
Summary
Putting others first is the single best thing you can do for your business and for your life. The more value you add to them, the more success will come your way. Model after the most successful people in the world and you will see for yourself, that all of them master this quality.
Good luck to all of you in your ventures! If this was helpful for you in any way, feel free to drop a comment. Alternatively, if you have any good feedback/criticism, I would love to hear it!
Thank you,
