4 powerful tips to set priorities and succeed in your business
Success starts by setting priorities. Not a trivial subject.
Growing companies often face big challenges. As the company grows, problems and opportunities demand more innovative solutions: what worked a year ago might not make sense today. This makes it very necessary to maintain the focus so that you can succeed in your business.
Faced with these challenges, business owners should look for creative solutions to solve problems on time. But many entrepreneurs fall into the trap of wanting to solve all the problems at the same time. They become prey to exhaustion, become more unproductive and begin to procrastinate. When you get used to this habit, success becomes almost impossible. Even when you implement well-organized methods, you must avoid falling into this situation.
When you are in charge of your own business, you must be aware of all the factors that affect its operation. Right here is where you ask yourself: how can I set my priorities to succeed in the business? Which leads to another question: have other entrepreneurs achieved success?
Why is it important to set priorities?
We live in a time when time runs faster than destiny. With so much entertainment available at all hours, sometimes our day goes by and we do not take time out for the most important things. If you are part of this group, success in business will surely become a Russian roulette for you.
Brad Stulberg, co-author of the book Peak Performance, says that prioritizing is one of the main tricks for maximum performance. By doing this, you improve your mood. In this regard, Stulberg cites in his book the experiment conducted at the Norwestern University, which found that students with a more positive outlook were more likely to solve challenging problems.
4 powerful tips to set your priorities and succeed in your business
You are already convinced that maintaining a positive attitude and a correct approach are two of the main keys to success. But they are not the only ones. It is for this reason that we are going to share 4 tips that will help you succeed in your business.
1. Strengthen your skills and cultivate the right attitude
Online Entrepreneurs magazine notes that “the skills that can help you start a business are not the same as the skills you need to make it grow”. He also advises that “it is vital not to deceive yourself, to value your own abilities too much”. But being successful in business is not just about this.
In the beginning, you need skills like good time management. Later, you should avoid interference from third parties excessively in your decisions. However, this should not lead you to lock yourself up in your own way of doing things.
Understand that as your business grows, you will need to hire extra staff, show them that you trust them and give them participation in presenting new ideas. Do not cultivate the master´s complex: “I solve all the problems”.
2. Start with the correct version of your business idea
Tom Morkes, digital marketing guru, says that most entrepreneurs start with what he calls version 9.0 of his business. This is the beginning of the end of your project. But what is version 9.0 about? Morkes defines it as:
- The perfect manifestation of your vision.
- The ideal version that everyone likes.
- It’s a fabulous and brilliant idea … people would be crazy if they did not accept it!
To illustrate version 9.0, imagine that you find out on the Internet that Uber is launching the Uber Eats service. It is a good delivery service that only requires a good application! In addition, the system works with suppliers on their own. It sounds perfect to be successful in a new venture.
But if you do not have the resources and the right experience, do not even try. Remember that to be successful, Morkes recommends starting with the beta version of your idea.
Now you see the importance of having clear your priorities to be successful?
3. When the market changes, adjust your plan
The innovation of the new economy is not static. On the contrary, the era of rigid one year in advance plans is part of the past. No one can succeed in the old business style anymore. Having well-organized methods and aligned with your business plan also helps with changes in the company.
Stéphanie Kennan, president of Bang Marketing, published an article in the online magazine Less Affaires in which she points out that 30% of Quebec SMEs invest less than $ 5,000 a year in their sales and marketing activities.
For Kennan, this is “disturbing, because today’s competition does not come from Rouyn, Quebec or Trois-Rivières.” The competition is global. Therefore, it is necessary that, in order for Quebecers to be successful, they carry out their plans oriented locally, but with a global approach.
4. All your business priorities must be based on the legal regulations
Not complying with legal regulations is the perfect way to not succeed in your business. It is the road to failure. That’s why all the decisions of your business must be under the law.
Closing a business may seem simple, but it was not so easy for the Olymel meat processor. The company closed its plant in Saint-Valérien and Saint-Simon in 2007, without reaching an understanding with the workers’ union. They subjected Olymel to justice and she was sentenced to pay 14 million in minimum wages for 406 workers in 2015.
Your company can have the most requested trades, with the highest paid employees; but if you do not comply with labor laws, you can go through the experience of Olymel.
The experts in coaching, entrepreneurship, and marketing focus their message on maintaining focus. In that sense, you are the owner of your own business, the mastermind whose brain emanated the main idea; but you cannot take care of everything at the same time.
Cultivate the right attitude and habits and start with the correct version of your business are the bases to succeed at the start of your products and services. Remember that your company can be more efficient if the priorities are set together with your team.
- Anonymous (2009). The Challenge of growing a business and how to meet them. Retrieved from https://www.infoentrepreneurs.org/en/guides/the-challenges-of-growing-a-business—and-how-to-meet-them/
- Kennan, Stephanie. (January 6, 2017). 5 examples qui prouvent que le becbec prend du retard in marketing. Retrieved from https://www.lesaffaires.com/blogues/stephanie-kennan/le-retard-du-quebec-en-marketing-se-creuse/592551
- Morkes, Tom. (s / f). The 4 step process to set priorities in your business. Retrieved from https://tommorkes.com/how-to-set-priorities/
- The Presse Canadienne. (August 4, 2015). Fermeture de l’usine Saint-Simon: Olymel déboutée en cour supérieure. Retrieved from https://ici.radio-canada.ca/nouvelle/732542/olymel-deboutee-cour-superieure-fermeture-usine-saint-simon