INTRODUCTION
Conceptually, Business are borne out of vision and ideas. It usually comes very stretchy but with clear objectives and mission. It needed to be developed so as to grow and thrives.
For business to thrives and grow, it does not happen automatically but gradually. It takes efforts and resources in proper manner to ensure that the business thrives. It's initial breakthrough needed to be sustained and managed properly because it's cyclic and turns which should be sustained to be successful.
Factors That Sustain Business's Growth
According to just concluded Bread's show on X spaces named "Behind the bags", efforts and strategies are discussed that will help an entrepreneur or business owner to start afresh and sustain the business to competency and success. Let's discuss some of the strategies with clear examples for more understanding and impacts.
Failure is Not the end, But motivating factors for success
Many wealthy people have filed for bankruptcy many times. That means they know that can fail woefully but they bounce back and become successful. One of our proverbs supported this by saying "man can fail but his rising up really matters". It's not bad to fail many times but ability to stand and forge ahead makes a way.
Failure never defined anyone or ventures but it should be properly defined and known. When one's result from his business interests or ventures was not favorable, it will be unwise for not to invest or try other business or change tactics so as to be successful.
Financial profits should not be the only reason for investment or business ventures. In the process, knowledge and skills are acquired which is more important than instant profits which can't be sustained. For instance, web3 is developing but at slow pace when compared to the extent, web2 is. Being on any of it's projects for instant financial gains will not be good idea and frustrating, but growing at its pace, the interest will be sustained and thrive in its due time.
Many inventors and founders understand the real value of failure, not afraid to fail but persevered to be successful. For instance, Thomas Edison was patented for invention of electric bulbs. Everyone celebrates success but only him knows how many times, he failed to be successful. He was not afraid to fail but motivated to achieve his vision, boom success beckon on him.
Failure should be a motivational factor, not mitigating parameter. It should perfect our skills and knowledge to yearn for more or aim higher. For example, Abraham Lincoln, one of the respected American Leaders and former President. After unsuccessful political involvement on the lower cadre, he was determined and improve with high aim to rule America which he successfully achieved. His legacy and resilience have motivated many in the world.
Get an advice and mentor
To be successful business owner or investors, it's easier to accept more help and advice from others. Only failed and stupid people assumed that they know it all thereby shutting themselves off from useful information and knowledge. To improve our skills, we need more knowledge as to explore many opportunities for more success.
Get a lawyer for legal frameworks for the business and compliance. What happened to CZ, co-founder and former CEO of Binance teaches us the importance of legal assistance. Lawyers have the best advice and guidance that is needed for business growth and sustainable. In our board, the members should be great role and impacts over the growth of the business.
As teamwork is very important, partnerships create more effectiveness and improvement. Working with others, people with right motives and drives, the business will thrives. They will bring more concepts and ideas as well as providers of labor for business growth and stability.
Mentorship are special kind of partnership for the business growth. Mentors are pacesetters and have in-depth knowledge of such endeavors which will be enriched our business, steer away from mistakes and guide the decisions for growth. In this respect, we should consider the unique and special relationship between Dangote, African richest man and Dantata, his uncle and mentor. His uncle, Dantata is a well respected and known business man with great success. After early school, Dangote started his company with money from his uncle, who have been strengthened him since infancy till now. He is known globally for his successful business exploits
Define your Goal and Success
Consistency and Hardwork
For us not to let go easily, the business interest should be our passion. With that we will drive satisfaction to do, not for mere reasons. Our strong drive will make us to be active and consistent. Consistency beget competence as we perfect our skills and knowledge through the process.
Having the hug for success will fuel our enthusiasm and drives thereby making us active and hardworking to be relevant and successful. For instance, CZ, co-founder and former CEO of Binance that was mentioned above stated that his stepping side now will give his time for his personal growth and time for more works. Our interest should be on how he work hard for the growth of his company, Binance. He said that hardly a day without work on the project for over six years now to be success. Entrepreneur does not lazy around but work hard for their success.
Finally
Business are bound to be great and thrives, when we are not afraid that it will collapse but improve our skills and endeavors so as it will be sustained and successful.
Learn from others, read books and form great partnership will make our business to thrive. Learn from our mistakes and avoid it at all cost. Cherish the help from our mentors and cultivate fertile grounds which making needed structures like legal and financial needs for the growth and stability of the business.
Our business should be our passion and urge for more improvement for our business thrives and sustained. Be Consistent will improve our skills and shows how we cherish our business to see it grow and established.