Wednesday, 29 March 2017

The Success Recipe for Business

Business is a lucrative venture in life, thus the right and profitable one will ensure that you will be employed for a very long time if you keep your capital and profit rate at a balance both in business and life as well.
“The most important principles in business are Honesty, loyalty, Integrity, Hard work, family (not forgetting where you came from), Love, Loyalty and Respect. These principles if adhered to, ensures that every time you are rational towards your business operations and they allow you to make decisions based on the goals and benefits of the business venture and not for personal gain or profits.
For one to succeed in the business world, he/she must develop a keen sense of understanding of the principles which shows no prejudice and nepotism.

The Core Principles for Business and Partnership
Always note that the profitability and success of a partnership relies upon the collective efforts of the people or partners involved, their willingness to abide by the principles guiding the partnership.
 So, it is important for one to choose a business partner wisely and consider the following below when developing your business and partnership:
·         Common Partnership and Business Vision: You have to possess the ability for thinking strategically and ensure that the partnership has a vision that is a match for the people involved because if your visions don’t match, things will fall apart.
The partnership may not always agree on everything but if the same vision is still shared amongst then you would have less contrast views in making business decisions because in the end all views and decisions are drawn to meet the same vision, thus it is just a matter of routes to follow to reach the same destination.
·         Credibility: keeping to your words and character, gives you credibility. A business partner who keeps to his/her words and delivers at the required and right time is credible. Your business partner has to be someone you can rely on to be trust worthy in all dealings.
·         Rapport: Disagreements are bound to result to a rise in tensions in the course of your business, but having a good relationship with your business partner, will create an avenue for dialogue which always aim to achieve a common aim and benefit.
·         Mutual Trust: Trust entails having credibility in your dealings and work.  A business partner should be someone you can share this same credible character with to achieve a goal. Trust is a key because a lot is at stake in running a business. You should be able to trust a partnership judgment on issues.
·         Winning Attitude and Mentality: If you want your business to succeed, then you need a partner who is craving for success also and a partnership that is ambitious, purpose-driven, pro-active and willing to put in work for success.
·         Competence/Confidence: A good partner should be able to confidently and independently carry out business tasks, most especially when you are not around.
·         Discipline: Hard work without discipline lacks substance; it cannot stand the test of time. A good business partner exercises some level of discipline.
·         Experience: Experience is an asset that cannot be bought, but acquired. A good business partner should be one who has working knowledge in your area of specialization.
·         Complementary skills: A good partnership is one where both partners complement each other. No matter how good you are, you can never know it all, likewise your business partner.
·         Communication: Good communication is vital to the success of a business partnership. Good partners communicate about the little and big  things, which makes for a successful business.
. With these factors, your business and partnership is bound to succeed and attain great heights.


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