As the chairman of one of the world’s largest business support organizations, I’ve encountered countless prospective entrepreneurs trying to put their ideas into action by launching a business. My experiences have given me a unique insight into what makes and breaks a business in today’s market.
Here are four more essential tips for shaping a good idea into a great business:
1. Real wealth includes benefiting others. All the growth in the world means little if you do nothing to benefit those who helped you get there. Your team and support network need to be rewarded in direct correlation with the effort they put into the business’s success. While numbers need to be your first concern when it comes to sustaining yourself and your ideas in the market, make sure you measure your success by more than just the bottom line.
2. As you grow your network, your network will grow you. Don’t get tunnel vision when it comes to the day-to-day details of running a business. In today’s business world, every connection you make can be a game-changing opportunity. Never walk away from the chance to shake hands with a potential partner, no matter his current value to you and your business. Grow your network every chance you get.