Do what you love, and you’ll never work a day in your life. This cliché has been repeated thousands of times, and it seems that people genuinely believe that it’s true and that it’s the key ingredient of a feasible business success formula. No one can’t deny that you need to love what you do if you want to succeed, but this fairy-tale approach works only in motivational quotes.
In real life, you need much more than that. Many entrepreneurs have been trying to unearth the secret formula that would help them make it in business, but this concept is so elusive that sometimes it seems that luck is the most important factor. Let’s discuss that secret alchemy of business success and see what you can do to spark the process.
A good education
The first step towards achieving business success is a good education. Yes, everybody knows that some of the most influential entrepreneurs of our time, Steve Jobs, Mark Zuckerberg, and Bill Gates, are college dropouts. However, you should think twice before following their lead, unless you have a revolutionary idea up your sleeve. It’s true that no college degree can help you unless you’re completely dedicated, and unless there are other elements in this equation, but let’s face it, a prestigious university will help you obtain some valuable skills as well as build your business network.
A statistic says that almost 80% of job openings aren’t publicly advertised. This may be a myth, but it’s safe to claim that the best positions aren’t publicized, so it’s important to be well-connected. That’s the reason why it’s a good idea to invest in your future and hire reliable university admissions or UMAT tutoring consultants that will help you secure a spot at an elite university.
Of course, this is the crucial ingredient of any success formula. All successful businesspeople have different strategies, but the things that are common to all of them are focus, persistence, and determination to achieve their goals despite obstacles. This is the part of the formula where love and passion for what you do are essential. However, no matter how much you enjoy your work, you have to be aware that it’s not going to be a walk in the park. But, successful people don’t give up after a few bumps in the road.
A quote by Thomas A. Edison perfectly sums up the importance of hard work and determination, “” It’s also worth mentioning that it’s not the talent but hard work that makes a difference between mediocrity and excellence. For example, Howard Schultz, Starbucks CEO, comes to his office at 6 a.m. and leaves at 7 p.m. Despite his company being one of the most popular and successful in the world, he still does the same thing he used to do while he was building it.
Think outside the box
Creativity and readiness to try something new are of vital importance for business success. Playing it safe is an excellent piece of advice, but when it comes to business and entrepreneurship, you shouldn’t always stick to this kind of thinking. In fact, if you want to succeed you need to be a trailblazer with an adventurous streak. It’s crucial to have the courage to do something that no one has ever done before, even when it seems like a crazy idea. However, although listening to your gut is the right thing to do, your every decision has to be backed up by thorough research.
Just like growth hackers measure their product/market fit, if you want to unleash your creativity and develop your ideas, you need to find out what your target audience actually wants and to come up with the best way to give them that. It’s not the inspiration that comes first, in this case. You have to feel the pulse of the market, and identify the problems and demands of your audience, and only then will you be able to harness the power of your outside-the-box mindset to create a product that will fill that gap in the market.
So, a basic business success formula consists of the synergy of a good education, hard work, and an outside-the-box approach. Add a sprinkle of self-confidence, a penchant for rule-breaking, and a bold vision, and the formula is complete.