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June 12, 2013

How to build your business empire

Filed under: Venture Capital Angel Investors Private equity blog — admin @ 6:24 am

Have you got what it takes to build a business empire?

How do you assess yourself and your business? Can you turn your small startup in and international business empire? You may have the entrepreneurial spirit in you. This is something that you still need to discover, but you can be the one who will build the next international and well-recognized business empire.

People who build amazing businesses, multinational companies and great empires are just normal people who do extraordinary things. They perform some tasks differently. People that are successful can be accurately described through a few traits and some actions that they take. Outstanding people do some things differently than average people. This is a great opportunity. By focusing, understanding and learning the same skills and doing the same things as successful people you can achieve more than before and increase your business immensely.

10 Essential Traits of an Empire Builder

If you have business experience and started something from scratch or achieved anything in the business world you will probably find that you already have some of the characteristics of the true empire builders. Here are the most common and important traits of Empire Builders:

  1. Doing what it takes and a love for work. People who build great businesses are not afraid to work, in fact they are eager to go the extra mile and to make any sacrifices that are needed in order to achieve their goals. Starting a business implies more work that a desk job.
  2. Burning passion. Business moguls are passionate about their project or work. They have fun while they do it and that is why they put in more work than anybody else. They like the journey to success as much as they like the destination.
  3. Notice Opportunities. Are you a problem solver? Can you instantly reframe problem into an opportunity? Business moguls see an opportunity in every problem and they try to come up with new ways of doing things. You don`t need a genius idea or a lot of intelligence, you just need to be willing to do the same things that others may be doing, but be committed to do them better or in another way. Entrepreneurs are also willing to try to find the solution for the difficult problems that all the others are trying to avoid.
  4. Very Motivated. Entrepreneurs who make it have rock-solid motivation that cannot be deterred by any defeat or temporary failure. They will try and try again until they reach the goal that they are after. Failure only motivates them to act with greater passion.
  5. Extremely disciplined. A successful entrepreneur must cultivate excellent and almost obsessive discipline. Business moguls are so focused on their goals that they don`t let any distractions to deter them from reaching an objective. They formulate exact plans that they follow by the letter. Every day they try to get closer and closer to their goals.
  6. Open Mindedness. As an entrepreneur or business mogul you must be willing to accept and understand new ideas and new ways of doing things. You need to be able to find inspiration in unexpected places and be less resistant to change than the majority of people.
  7. Social and team building skills. A business mogul will also have superior social skills. To build a business empire you need to create the contacts that make such a thing possible and network like a professional. You cannot succeed alone and if you really want to be on top of your game you need to be able to build a great team. You need to be persuasive and be able to convince people to work for you without using only the revenue leverage.
  8. The ability to make quick decisions. Business moguls act fast. When they have an idea they apply it, they put it out there and they make any necessary corrections on the way. So they need to make excellent and fast decisions. Making a decision is better than not making a decision at all and letting opportunities pass by.
  9. Extend and develop a Market. Let`s get this out of the way. You do not need to do or launch something completely new in order to be successful. There is enough room out there for almost any business if you know how to find, create and expand a market. You need to learn how to secure your market share and grow it steadily.
  10. Superior understanding of the Market. Many new inventions or products are said to be worthless at first by the so-called professionals. But the entrepreneurs and business moguls that understand the needs of the market know otherwise. You need to understand what people want and predict changes in order to prepare your next move. It helps to be a part of the market that you want to cater for.

Do you want to become a successful entrepreneur and build a business empire of your own?

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