7 Pillars of entrepreneural success

I intend to give the readers of my blog value – thousands of dollars of value – for free with each post.

In my consulting practice I can charge up to $5,000 a day for my advice and in consulting engagements on start-ups, business diagnoses, strategic planning and marketing. Honestly, the time it takes me to prepare the information in these posts, and the value of the 30 plus years of experience I bring to these tips and tools, make each post of around $2,000 in value.

And you get it for free!

But the value I can give you doesn’t just rest in my own head. Sometimes I come across great articles about business and entrepreneurs that I can’t resist sharing with you.

And hey, it means I get 3 or 4 hours off not having to write or film another post of my own!

This week I came across a great article by Macquarie Bank about the 7 Pillars of being a successful entrepreneurial business:-

1. Be patient
2. Grow expertise by building your business organically
3. Be disciplined with cost management
4. Hire industry experts where needed
5. Empower your people
6. Keep the essence of your business alive
7. Stay on top of new technologies and innovations.

Here’s the link to the article:-

7 Pillars of Success

What I love is how this aligns with my own thinking and business philosophies.

Throughout my blog you will know I am passionate about starting with a clear vision of your business. That and a great strategic plan provides you with the ability to take things patiently and understand that short term challenges lead to long term gains.

I also firmly believe that your vision, if clear and powerful enough, empowers your people. See especially my article on how to develop high performing teams.

As for staying on top of new technologies and innovations, this is critical to stay ahead of your competitors and I have written about the need to build innovation into your business and value the element of “surprise”.

Naturally, the numbers mean a lot in your business as well – you cannot run your business without understanding your numbers. I wrote about that when I discussed metrics for better business.

And finally I love their Pillar #6 “Keep the essence of your business alive”. It is so important to know what principles you live and work by, and not get sucked in to the day to day “stuff” and stop enjoying the reason you started your business. You need the ability to “dance while also watching from the balcony“.

I hope you enjoy the article.

If you do, watch out for much more value coming from this blog. Why don’t you get over to the website https://teikoh.com and sign up for our newsletters so that these tips, tools and resources get delivered directly to your inbox to be read at leisure.

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Related posts:

So you manage your family business, but do you govern it? How to implement lasting change in your business How do I quantify my Vision? How to Plan for Your Business

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