No matter how small their businesses are, business owners are still the president of their own company. In some cases, these businesses have only one employee, the business owners themselves. Often, small businesses have only one type of product to sell and they provide their personal services. These small companies are named after the business owners themselves and they don’t even need to register the name to protect its brand. No matter what their conditions are, business owners should think like a CEO who runs their own corporate. As the president of their own companies, business owners will directly decide how much they should earn. They can determine their own salary and they simply need to use a mirror to negotiate with the “boss”. If business owners want a raise, they could simply ask on the mirror and this will give them the strength and motivation to boost the revenue. We have often heard that many businesses won’t survive after two years, but this shouldn’t happen with our company. In fact, those failing businesses are often started by people who lack the experience and don’t have extensive knowledge.
Businesses should be started by people who have a belief that their companies will have high success rate, if possible in excess of 90 percent. On the other hand, inexperienced people who start new business will likely have much lower success rate. In many cases, we only have to success the last time we start a company. Building and starting our own successful company requires special discipline. Self discipline is practiced by many self-made millionaires and successful entrepreneurs. It is possible to practice and learn discipline early in our entrepreneurial career and we always able to practice it later. Sooner or later, we will become skilled and knowledgeable in many business areas. This is the essential ingredient in building a successful business empire. The longer it takes to master discipline, the longer it is to gain success and our goals become more costly to achieve. This is where many entrepreneurs fail. They may start off with wonderful idea, such as selling pizza with unique ingredients and cooking styles. However, these people may not be disciplined enough to deliver foods or other products with consistent quality for a long period of time.
Business owners should be busy with their product developments and finding new ideas. Many businesses fail because consumers can’t find something interesting about a product. Failing business owners are too busy with selling their products, but they fail to see whether their products are interesting enough in the long run. They should have an idea on what products that will be well accepted by the market. They should go to the more knowledgeable experts in the industry and ask for their opinions. If they are really smart, they should get in touch with people who can lay out new ideas in full and can provide candid comments on how to develop such ideas. Product developments also require critical thinking; not just boring positive thinking that can forestall future improvements.