Friday, 1 May 2009

Discovering the Business Success Factor


Brian Tracy from his book “100 Absolute unbreakable laws of Business Success said “The underlying rule of business success says that you must find out critically the underlying success principle in a particular line of business before you go into it”

After you have decided on what business to do, and you are passionate about it, does that mean that you will be automatically successful?

I really wish I could say yes, but unfortunately the answer is not quite in the affirmative.

One thing you must look out for is what I call the critical success factor!

Why are the people doing business around you and in the line of business you are going into successful?

If you are going into online book business for example, you need to ask yourself “What are Amazon, e-bay and other webshops doing right?

To balance this with the point I was making in Part 2 of my article on Financial Independence and Entrepreneurship (see below) I’d liketo ask you this question. “Are you confident that the business you are passionate about will solve a problem and bring the right financial rewards?”
Think on these things.

In summary; an entrepreneur who wants to achieve financial independence must be passionate, hardworking, solution-oriented and be disciplined enough to pay attention to the critical success factors in his / her chosen line of business.

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Books I read

  • 100 Absolutely Unbreakable Laws of Business Success
  • Rich Dad, Poor Dad