In my experience, there are three absolutely indispensable, essential elements to having success. If you have these three elements, it does not matter what industry you are in, it does not matter how intense the completion is, nor does it matter what the economy is doing (or not doing). You will be successful.
First, you need to be smart. Not genius, just smart. Smart means that you watch where you spend your money. For example, the new attorney should not buy a solid oak desk or a marble conference room table. Smart also means you give some time to marketing, you hire employees when the time is right, and you know your industry. Dumb decisions will sink you.
Second, you need to be hard working. America the Beautiful, apple pie and hard work. It is the bed rock of running a business. Those that think they can make millions without working hard probably actually did a few years ago in real estate. Everyone else has to work at it.
Third, you have to be able to stomach some risk. This is the biggest distinction between those that make it and those that end up working for those who make it. It’s all about risk tolerance. There is gold in them dar hills for those that are willing to take a chance.
If you can take a chance, work hard at it and approach it with a minimal degree of caution and common sense, you can make a successful business. Even in Meridian, Idaho.
First, you need to be smart. Not genius, just smart. Smart means that you watch where you spend your money. For example, the new attorney should not buy a solid oak desk or a marble conference room table. Smart also means you give some time to marketing, you hire employees when the time is right, and you know your industry. Dumb decisions will sink you.
Second, you need to be hard working. America the Beautiful, apple pie and hard work. It is the bed rock of running a business. Those that think they can make millions without working hard probably actually did a few years ago in real estate. Everyone else has to work at it.
Third, you have to be able to stomach some risk. This is the biggest distinction between those that make it and those that end up working for those who make it. It’s all about risk tolerance. There is gold in them dar hills for those that are willing to take a chance.
If you can take a chance, work hard at it and approach it with a minimal degree of caution and common sense, you can make a successful business. Even in Meridian, Idaho.
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About the Author:
Paul Stark is an attorney at the Idaho Business Law Group, PLLC, located in Meridian, Idaho. You can find him at idahobusinesslawgroup.com, email at paul@idahoblg.com or follow him @pstark on Twitter.
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