How to Build a Successful Company

Almost every day there are entrepreneurs starting up new businesses but the hard truth is that only some succeed.  In fact, 90% of small businesses fail within the first two years, mostly because many business owners fail to plan their needs appropriately.  In fact, having your own startup has almost become status-quo in today’s market.  So why do some new businesses fail while others succeed?  There’s no reason you can build a successful company if you follow some of the rules below.

Obviously, the most critical part of having a successful startup is to have good ideas and, of course, be willing to act on them.  A stellar entrepreneur works harder than anyone else to pursue his or her dreams and goals.  They also look to others and either learn from their successes or learn from their mistakes.  Learn how to avoid the pitfalls of those who have failed and carve out a different plan for yourself.  Come up with a different model for your own endeavor.

Just do it!  Entrepreneurs and small business owners often don’t have the luxury of having assistants and employees and HR departments to begin with, although that may come in time as your business grows.  Often you are the one required to do all the work but if you are willing to, then there’s no reason you can’t build a successful business.  While you may get help every now and then, you have to be the one to take responsibility for working hard and be willing to learn from your mistakes and grow with your successes.

Don’t be afraid to make mistakes.  In fact, they can be positive because you can learn from them.  Not every entrepreneur is going to have instant success.  Just because an idea might fail to begin with doesn’t mean you’ll fail overall in the long-run.  In fact, it would be arrogant to assume you are immune to failure.  It’s a normal part of the learning curve.  Don’t forget that!

Don’t listen to the naysayers and don’t let them discourage you.  If you have self-confidence that you can indeed build a successful company, then go with it.  Don’t give up on yourself or give into negativity.  You have to think like the one percent.  Don’t fall in with the 99% who can’t make a go of it and give up and don’t try when things get tough.

Remember it’s okay to be naïve at times.  Don’t hoard your ideas from others because you are afraid they might steal them.  In fact, share your plans with others and listen to their feedback.  This can, in fact, be very productive and helpful in helping you achieve success and building your company stronger than ever.  If you’ve had co-workers that took credit for your ideas in the past, don’t ruminate on them.  Move past it and forget about the negativity it brought into your life.  So yeah, go ahead and be naïve at times.  Don’t be afraid to trust others when they say they are, in fact, there to help you.  Collaborate with others; don’t just think “me, me, me.”

Have a good team or support system behind you.  Often, you need to brainstorm with others to jog your creativity and to think in new and innovative ways.  If you can indeed afford to build a team around you, do so.  Respect them, prepare them and give them the tools necessary to help you succeed at building your company successfully.  Your team is only willing to do for you as much as you are willing to do for them.  Help them and they’ll help you in return.  Don’t think in terms of hierarchy.  Think in terms of teamwork.

Take care of your image.  The face your company projects to the world and greater marketplace is key.  How people view you is how they will in fact view your company as a whole.  Present yourself as a success and you will find that success follows.  Don’t try to be what you’re not to please others; be yourself.  Only you know what your ideal image is so take all the necessary steps to project it.  If you lie about who you are and what your goals are, people will see right through you.  Trust your gut on what your image should be and look like to your customers and clients alike.  This will indeed help you build your company successfully.

Be a leader and don’t forget that you are in fact, the leader, the leader of your company and the leader of the fate of your business.  You control its direction and focus.  Always remember that.  Think about the flaws of a former boss you had and try not to repeat the mistakes he or she made.  Decide who you want to be as the head of your company.  Approach things in a different way.  Create a company culture that you would in fact want to work for if you were an employee yourself and not the boss.  Your ethics reflect who you and your company are as a whole and will ultimately lead you to either succeed or fail so think long and hard about the kind of leader you want to be.

Stay organized and set goals.  Proper organization is a key factor to any company’s success.  It’s your responsibility as the leader of your business to lay out a structure that ensures long-term stability.  Your company should be able to tackle any new challenges it faces and if you stay organized and set goals, you can in fact successfully deal with those challenges.  If you do in fact have employees, make sure their goals are in line with your own.  Spend the time to teach them what your main focus is and what you are looking to achieve as you move forward and grow your business as a whole.

Communicate effectively.  As the boss, you should be able to make employees aware of any changes you are implementing or any new goals and ideas you have for building your company successfully.  Allow your employees the freedom to speak openly to you with their ideas as well.  Two-way communication is exceedingly important to success in business.

Lastly lead by example and hold close to your decisions.  Having a superior work ethic inspires those around you to have one as well.  If you give your best to your employees, they will give you their best in return.  Motivate them to succeed by your example.

While it might seem like a daunting task to actually build a successful company in today’s competitive marketplace, there’s no reason you can’t.  Take the advice I’ve given here today and implement it into your own strategy for the goals and long-term vision of your business and it is highly likely that success will follow.

So what have you learned here today?  Have these suggestions been helpful?  Have you used any of them in the past or do you feel you’ve used even better ones not mentioned to help you build a successful company?  Leave a comment and let me know your thoughts.  I’d very much like to hear them!

Here are some articles you might want to check out on how to build a successful company:

“10 Tips for a Strong Start”: http://www.entrepreneur.com/article/204982

“The Secret to Building a Successful Company”: http://www.businessinsider.com/founder-explains-the-secret-to-building-a-successful-company-2013-9

“The Two Things You Need to Build a Successful Company”: http://www.forbes.com/sites/actiontrumpseverything/2013/05/12/the-two-things-you-need-to-build-a-successful-company-a-case-study/

“Building a Successful Company in Two Steps”: https://www.openforum.com/articles/building-a-successful-company-in-two-steps/

Until next time…