Running a business successfully
Finally you made a decision to start your own business! It’s time to move up to the next level, The goal is to operate your business to earn income online,
what are the skills needed to run a business successfully?
There are a lot of skills needed and, we at Learn and build, have summarized the 5 major skills you need to run a business successfully. Before I give you the skills you need, let me show you the roadmap to your success.
Roadmap to Success
You must define your success.
What is your target income to measure your success?
To some it may be earning income of $10,000 per month is already a success, or some may consider $100,000 or $1,000,000. After defining your success level, you need to set a specific deadline to be able to challenge yourself to keep working on a target date. It may be within a year or two or 5. Again, it’s all up to you. Then we can determine;
- What kind of work you need to do
- How much effort you need and
- What are the activities you will be doing each day to reach that goal
So in this stage, you need to write down your Goals, the level of success and prepare for Learning and Building your business. Our title Learn and Build is designed that way that you will learn the right knowledge to motivate you and the right skill to keep you moving forward. It would not be an easy job but you just need to be consistent. You may fail many times but that it's ok, it's part of the learning process to master that skills needed.
Here are few questions you need to ask and I would suggests that you should write this in your own notepad to remind you;
Level of Success
1. What is the level of success I am looking at to consider my business successful?
- How much income do I need to be making? Height - means the income level you want to achieve to determine you have attained it.
- How many years do I need to reach that income level? Distance - this means the length of time you will be working on it
The measurement of your success is in the achievement of your dreams into REALITY.
Goals
1. What is your ultimate goal?
- Personal goal - what is it that you wanted to accomplish and why are you doing this business?
- Financial goal - How much money you need to consider quitting your job?
You can write as much as you can, these are just guide, you can improve as long as you keep SMART.
Specific
Measurable
Attainable
Relevant/Realistic
Time Bound
You can leave this part for a while and take time to write everything you can. When you are done, you can go back here and continue learning the Skills you need to run your business successfully.
As a business owner, you need to follow a system that has already worked. There is no secret to success but there is a system. And that is what we will be talking about.
The system or the program
There is a system that will help you run the business and grow. Each of the stages will give you a corresponding learning.
Let’s start from your Day 1, the figure below will give you a better understanding on the 5 Skills you need to run your business successfully. Each stage is already a big success but that is just a level like going up the stairs so that at the end of the 5th skills, you are already getting more results and celebrate your success.
Off course, depending on how big your goals are, you should match that with big effort as well. What we need to do is to make the most of your free time so that you will not interrupt your day job. Our aim is to transition you from being employed to be running a business successfully.
The 5 Key stages for business growth
These are the 5 key stages to know if your business is growing. This is our ladder of success. As you move forward, you are climbing up a stair towards the growth of your business. The main foundation and the backbone of the business is in the training program. Each step of the way signifies progress and its all with the solid background in LEARNING while continuously BUILDING your business.
The five key stages are;
1. Learning
2. Teaching
3. Delegating
4. Multiplying
5. Earning and Earning Big, Bigger, Much more Bigger Income
The Law of Leverage
The system used in this method is the same system used by successful people. It is called the “Law of Leverage” if you own a business, and want to earn bigger income you need to branch out. The more branches you have the bigger income you will have. But as a start, you need to feed your own business to grow. It will start basically with you. Alone doing multi-tasking job. It will be hard work initially and as you grow you work smartly. There are times you need to put extra hour just to get what you are aiming for. You can earn income but it will still be small.
The Learning process
This is where your first Skill is going to appear. Learn first before you earn. From your Day 1, you learn the skill of how to start the business therefore you made that one big success, your decision to start. The next stage of learning is the skill of how to run the business. How will you earn money as you go along with the process.
- When are you going to make your first sale?
- What is the skill you need to learn at this stage?
Any legitimate business has a product, and from that product, you can generate sales! So, as you start running your business and since you are alone, you need to learn how to market your product.
5 Skills you need to run your business successfully
1. Marketing Skills
The first Skill is learning how to Market your product so that you can generate sales. Online marketing is similar to the offline marketing. The good thing about online marketing and online business is that you don’t need to have physical store to run your business. You can do marketing and online promotion to different social media platforms. In our training program, you will master the marketing skills and we will teach you how to do it professionally with the tools you need like autoresponders and email marketing to automate your system of selling and delivering your product to customers. Here, you will learn how to use your phone to run your business through the online marketing strategy you will learn.
Become online Marketing professional
The Teaching process
Sooner or later, when your business is up and running, you will still be learning new skills. This is the skill in teaching by becoming a leader, you branch out, you need to teach your new business partner in such a way that they will follow the same system you have done just the way you have done when you got started. Onwards is a skill development in teaching and leadership. So the second Skillset of learning is;
2. Leadership Skill
The attitude of a leader will vary so much with how you can become effective leader. You will progress very fast if you have that attitude of learning. This quality of learning is very true and effective when you have the GLLA qualities. Good, Listening, and Learning Attitude.
The reason why teaching is second to the ladder of success is that, people usually get stuck with the skill 1.
Because they have never conquered their pride. The attitude of learning is a humble gesture but as soon as you master your emotions, learning will come faster and you will have the enthusiasm to teach other people as well. The best teacher is our ability to learn. And when you learn more, you can teach more with the right attitude.
Delegation process
Delegating the job is transferring your teaching skill to your business partner. The more you are able to transfer your skills in teaching the more you get away with multi-tasking. You are now expanding your business and were able to leverage your business. The third skill level is in the Skill of;
3. People Management Skill (HR Skill)
As you are able to delegate, you become aware of the right people for the right job. Human resources is a broad skill, you will learn how to read people and know their potentialities. You will learn how to put the right people into the level of their skills and how to leverage them as well. As your business grows, the human resources grows as well so you will learn how to manage people properly. Imagine at this stage, compared to what you are doing the first time, the same effort but in different method. Before you work hard and achieve small, at this time, the same hardship but different level of activities but your earning at this stage is bigger than it was. By this stage in time, you will be achieving something. Getting closer to your success.
The Multiplication process
If you can have one branch, you can still accommodate to do more branch. As you master those skills in parallel with your learning process, now you learn how to multiply your business by doing the same system of growth yo run your business. As you are able to teach, the people whom you taught can also be a candidate to teach as well. If you have been able to delegate and duplicate your system to them the more you can do much. The fourth skill is;
4. Communication Skills
Open communication will lead a healthy conversation with your team. As you develop your leadership skills, your manner of communication develops as well. Essential to the communication skill is the learning and teaching and most especially the ability to organize. Its not easy to handle different types of people but with the proper communication skills, you will have a healthy environment which is contagious. The more you master this, the more you can increase your income
Increasing your income
Is now your measure of success! The moment you hit the mark you set for your goals, then that is your success story! Therefore the last skill is;
5. Financial Management Skill
You will learn how to manage your cash flow. As you have reached your success, you can also see that your earnings keep growing so you need the financial management skill to know where to put your money. You can spend more quality tone with your family and reward yourself.
Here, you will learn how to reinvest your money to another business. If you can do all over again with these process, we can definitely say that the system has worked effectively again.
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