become a mogul

As we look back at the history of businesses, you will  notice a pattern. Some businesses grow more quickly than others. Are these businesses doing something differently to sustain and build themselves? Fortunately, I consult with many business owners on a regular basis. What I’ve seen is that there is no magic in making a business grow. What each business seems to follow is something that I will loosely term “The 7 Rules of Growth For Small Businesses.”

1. They love what they do. Business owners that are passionate about their businesses care more about doing well than they do about money. This feeling of pride is what keeps them going more than the thought of becoming rich. Doing well and becoming better is what drives them.
2. They are willing to learn and change. A business owner that can foresee a problem or a shift in the market and changes their business strategy to fit is one that succeeds. You must be flexible enough to focus on the big picture as well as small details in order to improve.
3. Plan to grow. Every business needs a blueprint to follow and that blueprint must factor in growth. Most businesses only plan on how to break even but this is surely not enough! A good blueprint doesn’t have to be super detailed but needs to be one that everyone understands and improves upon.
4. Focus on your consumers. Your main goal is to make your customers happy – what are you doing to achieve that? Actually listen to your consumers when they provide you with feedback and take a long, hard look at your current business practices. Are your practices in order to allow you to earn more or to grant your customer satisfaction with your organization enough to give you repeat business?
5. Embrace technology. Businesses that incur rapid growth don’t stick their heads in the sand and wait for technology to pass. Good businesses adapt and learn and then pass on that knowledge to their consumers.
6. Hire the top. Great leaders discern that they can’t do the job on their own. So, they hire the most effective people they can that share the same values and goals as they do. These people then strive to become better at the jobs that they love and can relate to, which makes your business grow that much faster.
7. Look ahead. How many businesses have long-term plans? How long do you want your business to live? A great leader is one that keeps his finger on the world’s pulse and then takes that into consideration when reviewing his business plan. Only by keeping yourself current and willing to adapt to change can you stay alive.