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10 Proven Tips to Succeed in a Competitive Business

If you’re going to be running your own business, it’s important to make sure that you know what you’re doing before you dive in and start spending money on office space, equipment, or other supplies. Following these 10 tips can help put you in the best position possible to succeed in your competitive business environment. You’ll be glad you read this guide when things get tough!

1) Focus on What You Can Control

It’s easy to get caught up in what you can’t control. But there are some things you can control: your work ethic, commitment to continuous improvement, your attitude and whether or not you do whatever it takes to succeed. Set your mind on these things and success is just around the corner.

You may not be able to control everything that happens, but you can certainly choose how you react. And when something doesn’t go as planned? Take a step back and focus on those areas where you have power over change.

2) Care About Others

Although money and success is important, it doesn’t mean anything if you don’t have anyone to share it with. It’s a good idea to start with a friendly work environment, but also be willing to care about those around you. Putting your customers first is not only good for business—it’s just as good for your soul.

Your team will appreciate you more, and they’ll help push your business forward when times get tough. If you can find a way to make other people feel good while doing what you love, then that might be all that matters in life.

3) Build a Strong Team

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Start by getting people who believe in your idea, share your passion, and are willing to commit their time and energy. Then focus on finding people with skills that complement each other—and be sure to vet each candidate thoroughly. Can they do what you need them to do? Do they have complementary strengths? What would you miss if they weren’t around? Remember: You can always fire a bad hire, but if you make a mistake it’s harder to recover from.

4) Value People

One of your most important goals is to find people that can help you grow your business. Sometimes these people are customers, sometimes they’re colleagues, and sometimes they’re employees. Regardless of their role, keeping them around will pay off in increased revenue and more efficient operations. Find a way to value each person that touches your business; if you don’t have it already, create an employee handbook that details what kind of treatment to expect from you and how to treat your fellow workers.

5) Create an Environment That Gets the Best Out of People

Company culture is important for success, but it is too often viewed as a soft skill. Leaders of successful companies know better. If you want your team to be productive and happy, there are certain characteristics that should be baked into your company’s foundation from day one.

7) Watch your Language

This applies to all areas of life, but we’re focusing on business here. Whether you’re running a professional services company or a development shop, there are things you shouldn’t say—and phrases you should avoid—in your day-to-day communications. These can hurt your image and make it more difficult to attract talent and build trust with clients.

8) Surround Yourself with Smart People

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Learning from others is one of the best ways to learn faster. You don’t need to be an extrovert or networker—you just need to approach your day as if you were. The more intelligent people you know, and who know you, and who share their experiences with you, will help accelerate your success. It doesn’t matter what industry they’re in; finding really smart people can help your skillset expand beyond where it would have been otherwise.

6) Give Back

Give back to your community by volunteering. Whether you join a local soup kitchen, or become a life coach for individuals in need, giving back can help add purpose to your life and help you see your own success in a new light. Start small. Just 5 hours of service a week can make a huge difference in someone’s life. You will be surprised at how much it benefits both you and those you serve. After all, what goes around comes around! This is an excellent opportunity to network with people in your community who are also looking to volunteer their time. It’s also a great way to improve your leadership skills as well as find out more about how other people run their businesses.

9) Never Let Go of Your Passion

Many people are drawn to entrepreneurship as a way to make money and get out of debt. But if your heart is in your business, if you love what you do and can’t imagine yourself doing anything else, then it’s likely that passion will lead you to success. Running a successful business takes a lot of hard work, but there will be times when things don’t go as planned.

10) Have Fun!

It’s easier said than done, but try to have fun with your business. Taking things too seriously can make success much harder to achieve. So relax and enjoy what you do! If you don’t love it—and aren’t having fun doing it, it’s time to rethink your path. Being miserable at work isn’t going to help your business succeed. Take a break every once in a while and let off some steam: call a friend, take a walk outside or play around on social media. You’ll feel better afterward! And you might even come up with an idea for your next big project.