BUSINESS MASTERY (Know Your Business)

BUSINESS MASTERY (Know Your Business)

Peaceful morning this morning, Your Excellency. May His Amazing Grace keep being with you and all yours.

Our business mastery continues….

A BRIEF RECAP

Last time, there were 4 key words that I mentioned when we discussed who is an entrepreneur. These words are VISION, MISSION, GOALS and STRATEGIES. Vision and Mision almost always remain constant, while goals and strategies are dynamic. We have goal expansion, goal substitution and goal displacement. Then, strategies must keep changing throughout the lifespan of the business.

WHY YOU MUST KNOW YOUR BUSINESS

Business is quite rewarding and pretty risky. According to Forbes, 85% of the World Richest are entrepreneurs, 10% are professionals (athletes, stars, top engineers,doctors,pharmacists, etc) and 5% are consultants. Statistically, you have 85% of achieving financial freedom if you’re an entrepreneur. On the flip side, According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn in one and half years. In this light, you are a gladiator if you’re in business, so, you must do your homework and know what business you are really in and what will really really make you succeed.

People always think I’m in the business of publishing, speaking, training, coaching and consulting. I agree with them and I respect their opinion, but that is not really what we do, our core business is Touching Lives, Inspiring People. Publishing and the rest are just the means to an end, not the end itself.

Let me ask you this question. What business are you in? Then, the real question, what business are you REALLY in?

Many years ago, I asked myself, if I’ve decided to submit to this God given purpose for my life and I have built a big VISION going forward, what did I need to know to succeed. I was brutally honest with my answers. I’m in the business of helping people to grow, become better and get RESULTS. And people are looking not just for KNOWLEDGE, but actionable insights to get lasting RESULTS quicker and grander. So, I need to invest my TIME, MONEY and ENERGY in getting the best insights in the world, simplify them, applied them in a micro or macro way, get some results then teach them to the world. I must keep growing and investing in myself and my team continously if I want to be the most trusted leader in my market space for life.

What are the required RIGHT knowledge, skills and attitude you need to survive, and later flourish in your business?(Remember, if you’re working with an organisation, that organisation is your business right now)

WHY WE MUST ALL DEVELOP ENTREPRENEURIAL SKILLS AND MINDSET

I have seen people who worked for a particular company for many years and even decades and one day the company told them to go home. Not that they did anything wrong, it was either the company was in crises, they’ve sold it, they were moving out of the country or they were closing down. Whenever I do training on personal development and organizational growth for people and organisations, one of the reasons they often give for not improving themselves is TIME factor because of their present work tight schedule. My response is always, you’re hired you can be fired. Those who invest in themselves will climb fast the corporate ladder and when they decide to run their own business they have comparative advantage over others (Mr and Mrs too busy to learn and grow)

ACTION PLAN

Study the most successful businesses and business leaders in your industry and know why they are the leaders. Learn from them, apply their principles in a bigger way based on your own particularity. Success leaves clue.

#BusinessMasterySeries

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@sesankareem

 

Many thanks for reading.

I SALUTE YOU.

 

SK…Touching Lives, Inspiring People Since 2007.

www.sesankareem.com.ng

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