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5 Tips for Running a Successful Business

Nov 16, 2018 09:07AM ● By Tim

1. Make a choice, any choice.

People are constantly changing and, as a result, the world is constantly changing. Running a business in which a lot of time is spent on decision-making and measuring consequences is a waste of resources. It doesn’t do anything but increase anxiety and fear of failure. Even with all of your planning, the winds will change and you’ll be back to worrying again.

Instead, understand that failure is an opportunity, a chance to overcome challenges. Companies that quickly meet problems head-on are better equipped to minimize future errors. Dormancy is the worst possible outcome of any challenge. The only bad decision you can make is to make none.

2. Become the industry, don’t just exist within it.

I call this the “The Green Fluorescent Umbrella” philosophy. Consider that being the best umbrella maker in the world might be difficult to achieve. But being the best green fluorescent umbrella maker is probably much easier, even if it means having to create your own road map to success.

3. Never hesitate to pivot.

Time has proved that processes can help define companies and give them structure. At the same time, this forces them to work in a determined and systematic fashion. In my opinion, the best process is not having any defined process; instead, remain continuously flexible.

4. Be about more than profit.

Company objectives should reflect something deeper and perpetual than a profit and loss. They must define a humanistic, societal role where the goals transcend the needs of employees and the company as a whole. This bonds the company in a common cause and creates a unified culture.

5. Don’t fear the void.

The sensation of being at the edge but never really falling is the best way to describe how it feels being fearless of uncertainty in business. It’s a feeling all companies should embrace.

Being aware of the void and possible failure forces us to keep moving forward. It is the driving force convincing every business to take the next step in order to keep gaining momentum and grow. Each step provides the company with needed confidence and comfort with uncertainty, clearing the way toward a more successful future.

~ Success Magazine