Who has not heard the success stories of many entrepreneurs? However, have you asked yourself, what do these stories have in common? When told, your big idea, your unexpected failure, your perseverance, your lucky streak, and finally accelerated progress is talked about, but the formula for success involves much more.
Yakir Peace is a famous businessman who has made a success in businesses ranging from advertising, information security, online tickets, and real estate. He believes in the power of versatility and strives to use his success to advocate for the poor.
He has a number of businesses all around the world. He trusts in making international connections with serious people who share his ambition as this makes the establishment of successful enterprises all the easier. This has greatly contributed to his prosperity which he attributes to the building of strong connections and not being afraid to identify and grab opportunities whenever they come.
Successful businessman keeps the focus
According to Yakir Peace staying focused is thinking and executing activities that aim for clear objectives. Objectives that must be aligned with the mission of the company.
Why can focus be lost? – There are many reasons. A common one is that the entrepreneur attends to many activities in the early stages. This causes distraction. Another may be the help they give you. Yes, when seeking help! Because this help is not always a function of the real need, of the stage in which it is.
In short, regardless of why we may lose focus, let’s look at some characteristics of successful entrepreneurs, who are not “distracted” along the way and move forward steadily just like the famous businessman Yakir Peace.
Behavior focused on the mission
The entrepreneur manages and makes decisions without losing sight of the mission, which should be “translated” into strategic objectives.
Complex dynamics in a developing company can lead to allocating resources and effort to activities that deviate from the mission. Especially if it is not clear and is not internalized.
It is more common than you think fact that organizations change their mission, sometimes without realizing it. That is why the strategic direction functional area suggests periodically reviewing and adjusting, if applicable, the mission and vision.
Formula to advance through the stages
Each company must have a “formula” to grow and advance through the stages. Staying focused on each stage allows you to know which “buttons to push” to grow with predictability.
If you are not clear about which buttons to press, you need to define them. In the case that you have them, you must work based on them, activate them. If they are activated, it is necessary to calibrate the functional areas to improve efficiency.
Marketing and sales machine
Getting customers is a “sine qua non” condition for moving forward. This requires that there be a strategic alignment between the products and services offered, with the market you serve.
Developing the functional area of marketing and sales is a purpose in all types of companies. Some examples, in this blog, of the development of this area are the consulting company Geosama and the sale of donuts, Donuts Redoma.
The approach, of course, is different, depending on the type of company: the first is for professional services, while the second is for retail product sales.
Control of finances
Having a financial strategy for managing cash flow, investment, and profit growth is key for every successful entrepreneur. On the other hand, you must focus on managing expenses to maintain margins.
As you know, in the finance area an important aspect that a company develops in the stable or optimal operating stage is cost analysis. Knowing the cost structure allows us to improve other areas, with an impact on the company’s finances.
Training to achieve business efficiency
Even though, as an entrepreneur, you have a lot of experience, training is a necessary, almost permanent element. Training must lead to the creation of competencies, which are only consolidated with practice.
In this sense, the entrepreneur and his team must be trained not only in technology but also in skills such as communication and collaborative work. The latter, much forgotten, are essential for growth. There will be no added value without continuous training, in technical skills (hard) and soft skills (interpersonal skills).