Becoming successful isn’t something that happens randomly. Instead, you tend to find that the companies that achieve success have a certain set of uncompromising traits. They seem to understand the game intuitively, and they play to win.
This post describes a few of the non-negotiable pillars you need in your business to guarantee success. Here’s a rundown.
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1. Maintaining A Sense Of Urgency
Most people would like to believe that by the time they get to retirement age, they’ll be financially free. But, unfortunately, that’s not how the world works.
You’d think spending decades working would leave you with a big pile of savings. But that’s not the reality for most.
Around 69 percent of Americans are still dependent on relatives, friends, and charities by the time they reach 65. And around a third of people have to work to the age of 74 to meet their retirement costs. That’s staggering.
Maintaining a sense of urgency is, therefore, a must for thriving in business and life. If you want to achieve your long-term financial goals, you have to get started in earnest in your twenties and thirties.
If you put it off until your forties, you’ll struggle to build the long-term capital you need to thrive by the time you get to retirement age. Nobody ever built a successful enterprise on the backburner.
2. Protecting Your Ideas
When you think about it, the only thing protecting your business from your rivals is your trade secrets. Without them, they could just copy your business model and eat into your profits.
That’s why it is so important to consciously protect your intellectual property. More than anything else, it is the secret sauce that makes your enterprise successful. If anyone can just copy what you do, the value of your brand falls dramatically.
Consulting companies such as GHB Intellect is a wise move because they deal with intellectual property matters all the time. Their goal is to help entrepreneurs who don’t understand how to protect themselves create more robust enterprises that succeed in the long-run. So long as you can prevent others from discovering precisely how you do things, you can continue to differentiate yourself.
Being fearful in business is, unfortunately, a recipe for disaster. If you don’t have the right attitude emotionally, you can avoid making necessary decisions and begin falling behind your rivals.
A lot of founders experience a great deal of fear when setting up an enterprise. They go into it with a certain set of expectations. But when things don’t quite work out as planned, they begin to panic and wonder how they’re ever going to make a success of things.
The trick here is to take a different psychological perspective. Becoming fearless just means being able to do what is necessary to ensure that the business thrives.
The most visionary entrepreneurs are fearless, know themselves, and have insights into the minds of others. If you’re in that position, then you too should have some confidence in your abilities to strike out and make a difference in the world.
What would you list as your 3 non-negotiable pillars of business success?