with permission of Patrick Tinney, Managing Partner, centroidmarketing.com, the Author of the new business book “Unlocking Yes: Sales Negotiation Lessons & Strategy” &ldRead More
On Nov 15th Ymart presented itself at Small Business Forum held by Enterprise Toronto at Toronto Metro Convention Center.We are very happy to say that Ymart first public appearance was a great successRead More
It is hard but probably easier than many of us would think. The main prerequisite is a burning desire that will help you to overcome many hurdles on the road to the successful business. Think about it as about your internal energy that is convertible into practical actions.
Do you need a unique business idea? Hmm… it is nice to have one. However, it is hard to come up with a truly unique idea. The good news is that it is not what is absolutely required for a successful business. All you need is to do something useful for other people better the competitors do.
A unique idea might give you an edge but quite often it might not be a sustainable advantage.
Sustainable competitive advantage, which many are trying to see in a unique business idea, is often a utopia. Sustainable competitive advantage is running away, hard to catch thing, which requires constant attention and work. It is not cast in stone once and forever. It only can be achieved through everyday work: ongoing focus on details, everyday excellence in operation management, customer service, smart innovations and superiority in each other areas of business operations.
We all have seen the companies, which at some time looked indestructible due to their obvious market dominance and seemingly unshakable sustainable competitive advantage... Eventually (and quite often to our surprise), we have also seen some of them either disappearing or slowly losing their leading positions. Why? There are many reasons. The major are complacency, arrogance and greed.
And that is where the opportunity is. There is always a chance for those who are shrewd, persistent, hardworking, honest and humble.
Do not wait for a unique idea. It is more important how you do it then what you do. Just look for what you can do better then others, what is you are passionate about. This passion will give you the strength and energy to accomplish your mission and achieve the success.
Doing business is often a journey. At least, you will be better off if you see at as a journey. Just starts doing something, start walking, keep your eyes and hart open. You will meet new people, get new information, learn something and maybe see other opportunities or find the better way of doing what you are doing… There is a great chance that you might end doing something quite different from your original idea.
Business is a risky thing. You might lose something as well. Do not be afraid but be prudent. Too much risk aversion and you will never fly, too less and you might get burned quickly. Do not rush, listen to your heart, intuition and do not disregard gut feeling.
Planning is important but do not try to come up with a perfect plan. Do not allow planning to paralyze your action. Do not procrastinate and do something practical any time you can. Action is what will make your dream true.
Try not to do business only because of money. Quite often, if you do something that you love and do it properly in a way that creates some value for other people they will appreciate your help/service and you will get paid for it. Do good things for other people, make them satisfied and they will reward you. If you practice it consistently your will see that your customers are loyal to you and spread the word about your business. That is the scheme which ensures long-lasting success of many great businesses. Enjoy your business, bring something good into this world and be proud of it.
Stay with us, Ymart and your business community will help you to be more successful.
Have a happy journey!
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