Friday, September 14, 2012

The Formula For Online Business Success - Part 1 - Self Help - Advice

"I believe that being successful means having a balance of success stories across the many areas of your life. You can't truly be considered successful in your business life if your home life is in shambles." Zig Ziglar

Im really excited today.

Because, this post youre about to read is one of my first publish post ever... and one of the most successful as well. it has been littered all-over the web since 2007... and today youre in for a treat.

Ok! Enough said... lets get cranking...

You see, maths was my best subject at school...

And in mathematics, a formula is a fact, rule, or principle that is expressed in terms of mathematical symbols.

In other words a formula is simply a recipe, thus will always give the same results always when followed properly.

In this sense therefore the formula for success should always leads to one thing-SUCCESS. However, it is a well known fact that some people like to take some shortcuts and thus a recipe doesn't normally produce the same results always.

Having said that, there are some principles which will work irrespective of what you think or say and one such principle is gravity. If you jump from a house or from any height, according to the principle of gravity you will go down.

Your initially direction might be up but soon you will be headed downwards. This is a simple and yet powerful principle that will treat you in the same way as anyone else. Similarly there are some principles of success (Success is the maximum utilization of the ability that you have.) that will always produce the same result when adhered to.

you see, while doing my research I found the following statement which is very true when it comes to success in business.

The formula for success = [(Your Human Capital (what you know) X Your Social Capital (who you know) X Your Reputation (who trusts you)].

This formula can be summarized as follows:

BUSINESS SUCCESS = APPLIED KNOWLEDGE x RELATIONSHIP x TRUST or BELIEVABILITY

The following quote explains the formula in a nutshell:

"You can have everything in life that you want if you will just help enough other people get what they want." Zig Ziglar

Ok! Lets breakdown the formula into manageable chunks:

(A) Applied knowledge

"Knowledge is power."Can you identify with this saying? This statement even though it sounds great, it is not really complete as it is. Knowledge is only potential power. The power is in the application of knowledge.

Knowledge becomes power when, and if, it's organized into plans of action and acted upon. The problem with many individuals is that they think accumulation of information is knowledge and also that knowledge is power.

However, nothing could be so misleading. The truth is, it's not how much you know that will get you wealth, but how much you are doing with what you know that matters most. Napoleon Hill said it in a very convincing way when he said that knowledge will not attract money unless it's organized and intelligently directed through practical plans of action to the definite end of accumulation of money.

For example you can know a lot about horse racing or celebrity gossip but this knowledge will be of little benefit to you and others unless you organize and package it. Acquiring information and knowledge and not using it will just make you a living library... and worse may leave you broke.

The secret to great wealth accumulation comes as a result of power acquired through highly organized and intelligently directed specialized knowledge.

And here is what most people don't know - you don't need to know everything. Yes, you heard me right... in order to succeed in any business, you dont need to know everything. As long as you know where to get the knowledge needed to solve a problem when it arises, then you're educated.

Successful people like Thomas Edison, Henry Ford, Bill Gates and many others know that to prosper you have to surround yourself with people with specialized knowledge.Successful people are those who never stop acquiring specialized knowledge related to their major purpose, business or profession.

If you're a business person you have to keep on learning new marketing and selling strategies etc.

If youre lazy or have a habit of unsuccessful people... who stop learning the day they finish formal education... then you must as well forget about success. The truth, there is absolutely no virtue in ignorance whichever way you look at it.

In life the things you pay for are those that you cannot make, operate or even procure all by yourself. In other words, ignorance is not bliss you will pay for whatever you don't know. For example if your car breaks down and you can't fix it, you will have to pay a mechanic to fix it for you. In short, whatever you don't know will cost you.

As Zig Ziglar said, when you apply what you know to help other people achieve whatever they want, they will also help you achieve whatever you want. Your level of success will be directly proportional to the magnitude of the problems you're willing to solve for others... and you can do this easy if you acquire and apply specialized knowledge.

And thats because...Every invention, service and product is a solution to a certain problem. If you will just listen to people when they talk about their problems, and find out what they want and what you ought to supply them with, and then supply it, your success will be guaranteed. And thats you must first do an extensive Market Research before venturing into any business... especially... online buisness.

There is no other great secret of success than this- You must first know the demand. You must first know what people need, and then invest yourself where you are most needed. Find a hungry niche and give them what they want. In this way you will be a problem solver .Also, to be a problem solver you need to understand people's needs and thus the need for relationship.

BUILD LASTING RELATIONSHPS "Whoever renders service to many puts himself in line for greatness- great wealth, great return, great satisfaction, great reputation and great joy."Jim Rohn

Financial prosperity is a numbers thing. He who can make more clients or customers prospers. It's very difficult for a person to achieve anything they desire in life without the cooperation of other people. On the other hand if you render quality and timely service to many you are destined for greatness. Where the people are not valued success becomes scarce, and where people are valued and feels important success is inevitable.

All successful people know the value of good relationships. They know and master the skill of treating each individual as a king. Everyone is special in their eyes and the secret of great success is to make them feel even more special. When you treat people in a special way no matter who they are, they will reward you much more than you can ever imagine possible.

The truth is that nobody really cares who you're and how much you know until they know that you care.

If you just run over people's emotions and never pay attention your success is limited. To touch people's lives you must first establish a relationship with them. When you can identify with a lot of people, they will respect you for who you are and in the long run your simplicity and approachability will pay you greatly.

The truth is, almost every successful leader, businessperson, salesperson and many others who deal with people know the value of giving people what they yearn for most- recognition.

People want to be important and feel that they are needed. Your duty therefore is to make them important. Make them feel like kings.

Whats more, success does not come cheap and it's almost impossible to prosper on a solo-project. Everyone who achieves much does it with the help of other people. And people will help you achieve your desires if you help them achieve theirs. In other words all success is based on relational success. Without good relationships between the employers and employees, salesperson and customers, the teacher and the students etc. it becomes very difficult to succeed.

How do you establish good business relationships? Business relationships like any other relationship don't just happen. Relationships don't just happen automatically. They don't just appear, they are created and developed. Similarly, successful business people develop a network of customers, friendships and Joint ventures.

In other words, to build a successful online (or offline) business, you must balance your love for self and your love for others. And this can only be achieved if you show genuine interest in others.

You see, if you don't like people they won't buy any service or product from you. And thats because... people buy you before they can buy anything from you. There is no other way outside relationships- you have to be genuinely interested in helping people succeed in order to prosper financially. A genuine interest in people is priceless. A pleasing personality is even more profitable because not only will it get you friends but long time trusted customers and even business partners.

So the next time you meet a new person treat them like a king... and always ask yourself... how you can add value to their lives. Who knows you might just have met and talked to a millionaire or a future president of your country... so treat everyone like a king.

So, if business relationships are that important...

Are you prepared to pay the price?

Well! We will see on part 2 if you are ready.





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