A number of friends, family and colleagues asked me, what’s my secrets for a successful business, and after years of simple answering, I decided to think about it and collate to answer properly.
Apparently I only have six (6) secrets to the secret sauce of successful business. To me, these are my “open” secrets, of which is so obvious that people seem to gloss over or ignore, because it’s too basic or generic. I laugh…because like ANY sportsperson, you know it’s mastery of the fundamentals that overrule everything.
Much like how the pro-boxer runs and runs and runs; shadow box for hours, train their left jabs for hours, then their right for hours etc. Nothing fancy shmancy. I do them still because they work.
Table Of Contents
#1: Know Your Stuff
Ie you gotta know what you’re selling (products and/or services) inside out, so that you know the benefits so that when leads, prospects and clients ask, it’s easy to share with them and help them make a buying decision.
Also, by knowing the benefits of your services and products, it makes it easier for you as a business owner to streamline and target your marketing and sales channels (easier to identify who are your clients).
#2: Be On Top Of Your Business Too
Some business owners like to be busy in the business, and that’s not wrong, as long as you want to and are not forced to.
Being on top of the business allows you to see what’s working and what’s not working in the business (eg processes) and you can refine to improve the business from a process-standpoint.
#3: Delight Your Clients
This is a famous saying by Warren Buffett, where he shared “no business has ever gone out of business by delighting their customers” and this is 100% true.
You delight your clients by spending time with them, helping them, communicating with them, being sincere. If you mess up, admit it and make it up to them, be sincere and don’t treat them just like ATMs or cash cows, which is just being disingenuous.
Instead, I recommend you treat them like family, take good care of them, and they may just well become raving fans who comes back again and again, and recommends others.
But be sincere and do it well.
#4 Work hard and keep improving.
Hard work helps you get bloody good at what you do
Hard work helps you reach more clients
Hard work helps you expand your business
Hard work helps you get to where you want to be
There is no substitute for hard work, you’ve gotta keep progressing, punching and moving forward
#5 Simplify / One Core A Time
Do one thing very well first before offering another. What some businesses do is that they have too many offerings but nothing they specialize in,
#6 Push through + Persist
Success takes time.
Getting good takes practice and time.
Overcoming tough times takes time.
Sometimes you may need to persist through assholes, betrayals and criticisms too.
Sometimes you get good days, some days may be awful.
Sometimes you get tired.
Sometimes what you started may not be what you wanted or end up with.
Learn from mistakes, pain and lessons and use it to pivot and refine until you get to the path where you want.
Good times will come, and so will tough times – just roll and push through
I’m the founder and writer here at NigelChua.com; as well as serial entrepreneur, therapy business entrepreneur, digital entrepreneur, investor and also happy husband, father and Christian.
Started and sold off a business for 7-figures; built another 7-figure one and growing it further, plus building/investing into other businesses and investments as well as advisory works.
Nowadays I share and teach entrepreneurship, financial independence, retiring early as well as building and living a life you love.
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