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What Does It Really Take To Own A Successful Business?

Four Great Ways to Help You Own a Successful Business

With the rising number of online entrepreneurs and “wannabe” business owners, there is always that one question they ask. “How do I create a successful business?” We all know you can own your own business, be your own boss, but are you successful?

If asked, we could all define success in many different ways so how can one measure success?

“The worst part of success is trying to find someone who is happy for you.”
― Bette Midler

Regardless of your definition or my definition, I’d like to share a few helpful ways you can ensure your way to a successful business.

successful business

What Does It Take to Own a Successful Business?

These days, it can seem like everyone is running their own company or at least owning it. It’s honestly not that hard to do. To own a business, you simply need to apply for the right license. Once you have that you can set up your own brand.

As long as you don’t step on any legal toes with your name or potentially something like your logo, you can then start trading on the market. Set up a free website, use a free e-commerce platform and begin selling whatever you want. Whether that’s wholesale goods or products that you have genuinely made with your own two hands.

Succcessful is the Key Word

You might have noticed though that we left out a word that was in the title – successful. It takes a lot more to make a company successful. Don’t believe that? Just look at the statistics.

Experts agree that well over ninety percent of new businesses on the market fail. That’s not an exaggeration, it’s based on real research.

'Experts agree that well over ninety percent of new businesses on the market fail.' #success #businessClick To Tweet

So why do these companies fail? You might think that it’s due to mistakes or perhaps the idea simply didn’t have longevity. More often than not though, you’ll find that it’s the person that’s trying to steer the ship causing the issue. Either they don’t have the right skills or haven’t put in the work before opening up shop.

So, let’s look at what it really takes for a company to be a success when it’s fresh on the market.

A Person Behind The Name

You might look at some of the big players on the market and see that they don’t have a big personality behind the name. So, why should you? First, don’t be fooled. Most successful companies do have this and even if you don’t know them, their main clients, key influencers and investors will. They will have followed and shaken hands with the right people.

Second, you have to remember that you’re not a big company yet. That means that you need to pull out every trick in the marketing playbook to be a success. Getting personal can be a big step forward. Eighty percent of users are more likely to click if there is an image of an individual behind a page for a company that they don’t know.

Eighty percent of users are more likely to click if there is an image of an individual behind a page for a company that they don’t know. #business #successClick To Tweet

Customers don’t want to deal with machines. They want to know that there is someone behind the number crunching. Someone they can trust and potentially even relate to.

You have to realize that when you run a small company, this can give you the upper-hand over a big business that has forgotten the personal touch.

The Skills to Manage and Lead a Successful Business

You might think that you can get started with your own business with no knowledge and no training. While this is technically true, it’s not quite the whole story. Ultimately, you will have far more success if you actually get the knowledge and skills you should have before you open your store or company on the market.

If you do this, you’ll impress both investors and clients. They will feel they can trust you more because you will have the expertise to make your business a success. Of course, getting the right skills and knowledge isn’t a surefire recipe for success. But it can certainly help ensure that people are ready to put their faith in you and your business. More importantly, though you’ll have the skills you need to run the ship.

So, where do you go to get these skills? Ideally, you want a college degree. However, these days that doesn’t mean that you have to actually sit through four years of classrooms and lectures. Instead, you can get your degree online.

Degrees and Experience

For instance, you can get a masters in business administration online and if you want to learn more about this click here. A lot of people who get this qualification will move forward and run their own business in a matter of years.

With courses like this, you can learn everything. You’ll understand what it takes to get a team to follow you and understand how to handle some of the issues that you can face when you are trying to make your company model work.

It’s not just about the qualification though. You should also gain the experience as well. Again, this provides the evidence that you are going to be able to handle the daily challenges that running a business will bring. You will have paid your dues too and this will provide you with a chance that you need to earn the respect of your peers and your colleagues.

Getting Creative for Your Business

When you set up your business, it’s important that you ensure that it stands out on the market. To do this, you need to be creative. You might think that you can set up a typical e-commerce company or perhaps a blog.

However, if you do this then your business model is going to fail pretty quickly. You can use an e-commerce store as a basis, but you need to have a unique hook or a USP (Unique Selling Proposition) in place. This is a way of making sure that people connect with your business and want to buy from you over the competition.

It’s important that you formulate a concept that makes people stop and think that your business is offering something completely different. #business #successClick To Tweet

Getting More Creative

A USP could be anything and this is where it’s time to get creative. It’s important that you formulate a concept that makes people stop and think that your business is offering something completely different, new and exciting on the market.

Alternatively, you could just be delivering a better service in key areas than the rest.

Social Media Pro

Last but not least, you need to make sure that you are active and ready on social media. It’s best to build up a social media profile before you open up shop or stop trying to sell. Clients and customers should be able to find you on social networks immediately and get to know who you are as well as what you can offer.

Begin by setting up your profile as a news outlet where you post updates about your industry. Provide valuable content to target customers and then move on to lightly promoting your brand. Be sure to engage with your audience as well on social media.

What other tips can you add for a business to become successful today?  I’d love to know more in the comments below! 

Lisa loves helping others to thrive online through Social Media, Blogging, and SEO. What good is knowledge if you cannot share it with others? She has 30+ years of experience in marketing/advertising with 9 years of experience in content marketing, social media, blogging, and SEO. Check out her latest eBook "How to Tweet and Thrive on Twitter" now on Amazon.

  • Hi lisa,

    I look at your article and I am glad Because I have planned to start a business but I have a problem which one of start business.
    But after reading your article Knowledge more informative suggestion.

    Thank you

  • Come June I’ll have been self employed 18 years. There have been wonderful times and scary times, times when I was really confident and times when I was really scared. These days we hear of the “hustle” instead of going full monty, and I guess that works to a degree. For me, being self employed means I’ve traveled all over the country, even to places I never wanted to go. I had a 2-year period where I made more money that they previous 10 years put together. It doesn’t always happen like that; it takes a lot of work and courage. But if you can get there, you’ll love the freedom, the sense of accomplishment and of course the money! 😉

    • Hi Mitch, wow 18 years! What did you do before?
      I hear you – but like you I LOVE it and don’t miss being tied to a cubicle or doing useless reports for corporate. Now I do my own needed reports 🙂
      And I go for a walk when I get tired of sitting. I do work longer hours but also can work from anywhere most of the time. I do see clients at least once a month and some weekly when I’m not travelling.
      It can be scary not getting a weekly paycheck but as you say you can make MORE too at times. Do you still travel often with your mom at home?
      Thanks for your feedback on this one Mitch and have a great Sunday. I’m looking forward to seeing my pats play tonight, I hope they prove one is never too old! 🙂

  • Thanks for posting!

    I have been wanting to start a business for a while but just trying to figure out which idea I want to take and run with.

    This definitely helps give me a few ideas to work with.

    • Hi Arash, welcome to Inspire To Thrive. What direction are you thinking of after reading this one? Thanks for coming by and I hope you have a wonderful weekend!

  • I couldn’t agree more with “Getting more creative”. I realized last year that my success is on me! No body else.

    I also think accountability is important!

    Thanks for sharing.

    Nick

  • Lisa: What is your take on the way that solopreneurs and sole proprietorships are using the word, “We,” instead of being personal and using, “I,”? I want to know the person behind the company name. You do business with individuals, not with company entities, if you think according to the principles of referral marketing.

    Best Premises,

    Martin

    • Hi Martin. It depends on how big the business is. If there are a few people behind them we is fine. They can also name people including themselves to make it more personal. I do that with my logo. I have my name in it and on my FB page I use my photo too 🙂 Thanks Martin for coming by. Are you getting a gravatar? You ended up here in spam. Have a great day!

  • Hey Lisa,

    Awesome article Lisa, I have planned to start a business but the main problem is to find what business to do to be successful.

    Thanks for sharing this awesome article

    • Hi Vikas, what type of business are you lookingto start? Did you do some research? Love to know more and thanks for coming by. Welcome to Inspire To Thrive. Have a great day Vikas.

  • This business takes a FULL TIME, ALL IN commitment Lisa. Well said. We move toward and trust who we know, and building trust and knowing takes clear, persistent, branding, plus generous service. Our freedom is fully worth it but of course, running a successful business is the real deal.

    • Hi Ryan, you got that right. Even though I’m on vacation I’m at 4 a.m. doing some work. No matter how much you do ahead things come up and need attention. It is a FULL time all in commitment for sure. But I love the flexibility it offers me as I’m working from Maine this week 🙂 Thanks for coming by on this one Ryan and I hope your new week is starting out well there!

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