THE 5 Ps to Business Riches!
We see it all the time, don’t we? The ‘small business done good’ syndrome!
You know, the young guy or gal who’s had their business bought for millions by a major player, and they’re set for life. Instant millionaires!
Or the business owners who are in the Rich Lists that appear all over the world.
Or our business colleagues who seem like they’re doing really well as they have the house(s), cars, lifestyle, money, etc etc.
Business riches! What are they? They’re different for each of us. It might be large amounts of money in the bank. Or growing our business – perhaps we become CEO or chairman. It might be lifestyle – pulling back and having the choice, the freedom to do what we want, when we want.
What does ‘business riches’ mean for you?
Here’s what I know, having been a business owner since my early 20s and a consultant, coach, mentor to many business people. Business riches don’t happen overnight.
In this ‘me, me, me’ and ‘now, now, now’ world in which we live, in my experience that’s what so many business owners and entrepreneurs are seeking. The quick buck. The easy ride. The big success. Now!
Well, as many of us know, it doesn’t very often happen like that. The overnight success stories are generally years in the making. Or the zillion dollar buyouts by Facebook, Google and other big players are one in a million outcomes – at best!
THE 5 Ps to Business Riches is what it takes to achieve success
1) Passion
We’ll only achieve the business riches we want if we’re passionate about what we do in business, every day. If we’re longing for the weekend each week, that won’t cut it. We’ll never achieve success.
We need to live and breathe what we do. People around us need to feel, hear and smell our passion for what we do and how we’re making a difference in the niche we operate in. If they can’t, as potential customers – they’ll go elsewhere. As potential staff – they’ll look for jobs elsewhere too. As potential JV partners – they’ll head for the hills.
Passion is critical to success. It’s passion that gets us through the tough times. The lean times! The ugly, challenging times!
2) Positioning
What market niche are we serving? We can’t be everything to everybody. If we try, we’ll be nothing to everybody.
When we’re clear on what our niche is, then positioning is also about our business model. What are we doing and how are we doing it? Where’s the money? Is it a hobby or a business? How do we take our potential customer and turn them into paying customers who love us and want to stay with us for a long time?
3) Personalisation
People want to buy from people they can relate to. People who let their personality shine through! Not ‘snake-oil sellers’ – we’ve all had a few of those in our lives (I certainly have). We want to do business with people who are authentic (sorry, that word is really overused at present – I don’t like it either! :)) We want to work with and buy from people who are honest, full of integrity… and good at what they do… the experts.
Standing out in your niche as the expert, the authority in your market, is also key to business riches. Why blend in? Why be bland? Those who are extraordinarily successful stand out… they get noticed.
4) Performance
‘Nothing comes from doing nothing’ says our friend, William Shakespeare. Of course he’s right. Yet so many people want success without putting in the hard yakka (that’s an antipodean phrase word for hard work).
Consistent hard work… over and over again… through good times and bad, often with a lot of sacrifice along the way. That’s what it takes to achieve business riches.
The key is to do the work. Consistently and constantly!
5) Persistence
Let’s not forget the final ‘P’. Persistence. Don’t give in. Don’t give up.
If you’re passionate about what you do and there is a monetise-able business model attached to it, then keep on grafting. Keep up with the work and it will pay off.
Success will take time though.
Persistence is where the money is. Going the extra mile over and over again is where the business riches are.
… and then the cup runneth over…
I know in my own journeys over +25 years of business ownership that it’s always darkest before dawn. That when we feel we can’t go on… something carries us on (it’s generally passion, belief and bloody mindedness).
And then something clicks. Something works. Something happens… and the cup does runneth over… and that is the most wonderful moment!
Yet, in looking back, it’s always the journey and the learnings along the way that I’ve remembered most fondly. Why? Because I’ve always taken those experiences – good and bad – into my next ventures in business and life… in the never ending cycle of lifetime learning, which is so central to who I am in.
So treasure the journey, focus on your 5Ps, and business riches will come your way… eventually.
Question: Which of the 5 Ps are you most focused on at present? I’d love to know your thoughts. I’d be thrilled if you left a comment below.
Would some guidance from me be helpful to you? If so, please arrange a free 30 mins Skype strategy meeting with me. Here’s my calendar to make an appointment. I’d love to support you in some way to gain ‘seductive clarity’ in any aspect of your business or life.
