Expert Tips: What’s the single most important ingredient of a successful business?
What is the most crucial aspect of business to focus on to ensure success? Some would choose sales. Some would say marketing. Many would claim it’s leadership. Others believe it’s systems. More than a few would be adamant that the most important element is financial acumen. This week, I asked work-at-home experts to share their opinions and advice on the single most important ingredient of a successful business?
Bryan Clayton, GreenPal
I would say the most successful ingredient to a successful home based business is data, money, customer feedback, growth hackers, or something else like that. But really the most critical ingredient is just raw grit.
It’s simple…the most important thing for business success is to bullet proof your brand with something that is completely unique from what is out there in the market place that people would want AND the point of entry for anyone else trying to duplicate your offering would be too difficult. Do those two things and you will have success!
Trust Your Gut!We all receive intuitive information. It’s your inner CEO. When you listen to it and act on its guidance, you’re led in the right direction. Need a creative idea for a new client pitch? Feeling confused about a business decision you need to make? Have a difficult employee situation and need some insight about how to resolve it?Your intuition can help!
In my opinion the single most important ingredient to a successful business is passion. Without passion for your business you will lack determination and the ability to endure difficult situations. Starting a business is a very stressful process and without passion it will become overwhelming and your ability to continue will deteriorate. Passion for your business will organically help you seek out additional education and information. Helping you develop a more refined marketing strategy and product for the industry your business is trying to penetrate. Even on your worst day you will be productive and contribute to the growth of your business. Without passion your business will become a job and nothing hurts creativity and motivation more than being stuck at a job you don’t enjoy. Overcoming obstacles and weathering storms are a common re-occurrence for owning a business and the ability to come out of it stronger all starts from having passion.
The single most important ingredient of a successful business is dedication. There will be many ups and downs and your day and mood can vary from one hour to the next, so the ability to stay focused and dedicated to continuing your business is highly important.
Jesse Harrison, Zeus Legal Funding
I believe the single most important ingredient of a successful business is networking. When you network, you come across opportunities that you would not know about otherwise. Opportunities to know people who can help you, and people that you can help. Opportunities to grow. Creative ideas that you subconsciously have will come out when you talk to other people and brainstorm. I even know businesses that network with their competitors, and they are successful.
Daniela Arango, doitwiser.com
Innovation, innovation, innovation! A successful business must always be able to adapt to a changing globalizing world with the execution of new and fresh ideas. Technology can’t become an enemy, its necessary to take every opportunity to its maximum potential. If a business has no presence online, it stops being relevant. But innovation is not limited to technological advances, its oriented more towards finding creative ways to solve a target’s need in a more effective and efficient manner. It’s showing that a business cares enough to know that there are certain actions that are required to make sure that a client is always satisfied and won’t need to wonder off to find a better product or service. Being innovating also requires businesses to be constantly investigating new developments, market variations and its competition’s work. It involves a constant attention to improve its employee’s education, to make sure they are up to date on techniques and strategies.
Maggie Holbik, Maggie Holbik
So what is this secret fuel or ingredient? The answer is PASSION! Passion is the energy behind creation and doing. It is the fuel that propels us to greatness, or even to simplicity. It is something we desire. Either way, passion is an integral component to why we do what we do, whether it’s personally, or in business.
Note from Leslie: These types of questions are difficult because it takes many traits to be a success. I agree with all the answers given here. But I think grit and passion are crucial because they’re the fuel that drives everything else. Nothing else happens if you’re not emotionally invested in and committed to your end result. I’ve come across a lot of work-at-home wannabees over the years who start do the things that need to be done, whether that’s submit a resume or launch a website, and yet, they don’t achieve success. Why? Usually it’s because the falter when things get tough. But when times are hard, that’s where passion and grit step in and drive you forward.
