When it comes to launching and growing a successful business, successful entrepreneurs seem to have the ‘it factor.’ That said, fear not: it might not be a matter of brains, beauty or brawn that gives them a competitive edge. Instead, it is all about their willingness to take advice and follow some time-honour+ed tips for success.
We were interested in exactly what it is that young entrepreneurs at the top of their game do differently, and so we compiled this list of five savvy – and simple – things that they do to stay ahead
1. Surround yourself with the best players in your field
While it can be tempting to want to be the clear ‘expert’ on your team, the best entrepreneurs know that trying to be the best can actually be a fool’s game.
If you really want your business to grow and succeed, you need to be comfortable handing the reins to your employees when they know more about a topic than you do.
Seek out the best, work with the best, hire the best – and always give them the credit they deserve. Rather than making you look ‘weak,’ you’ll actually look like a genius in the leadership department.
2. Take ‘crazy’ risks
Some of the most innovative and important brands and products out there were started by a founder who prided themselves on taking big, ‘dangerous’ risks. Even if you don’t succeed right away, you will learn valuable lessons from your mistakes, and that is priceless experience.
3. Stay on top of your finances
As the creative leader behind your business, it can be tempting to focus on the development side of things, or the sales, or scouting for talent.
While all of these things are undoubtedly important, if you neglect to stay on top of your finances, your business – no matter how creative – will fail. Cloud based accounting software can make things really easy for you – you don’t have to spend much time at all working on your bookkeeping.
4. Find a good mentor
We all need to learn from someone, and finding a mentor in your industry is one of the smartest things that you can do. Not only can they help you learn more about your field, they can provide you with the sage advice that comes from trial and error, as well as introducing you to key stakeholders and connections.
5. Take action each and every day
No matter what, each and every day you should be taking some sort of action that will work to advance your goals, help your business, and progress your career. Yes, planning is always important, but unless you start taking action, you will never get anywhere.
Use these tips to start advancing your business today – every minute you delay is a minute you are wasting.
Do you have a tip you’d like to add to our list? Share it in the comment section below. Find more help and support for your London-based business in our information centre.