Being able to succeed in the business world is about consistency, perseverance, failure and starting over. There are quite a number of misconceptions that business is about building a venture overnight and making millions in a short amount of time. To put this into perspective Robert Kiyosaki said, “It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”
Making money is a start, but how you save and invest it is another matter entirely. When you think about starting or managing business it is about acquiring valuable skills and experiences. In other words, it is about playing one’s cards right and taking your business opportunities to the next level. You must have a lot of discipline, a diverse set of skills and deploy various strategies to succeed.
Having diverse skills and different strategies will equip you to be more effective in the business environment. When you have a thirst for more and want to transform your idea into a product or a service you have the makings of being a self-starter or an entrepreneur. Working in several industries for the first couple of years helps understand the culture and expectations of each of these professional environments.
When you think about running a small business like a casino you would get puzzled. However, once you dig beneath the surface, the business and the casino operate on making revenues and profits. So, the skills and the risks that come with going all-in are very high when you put your money, time and investments. In the next sections, will translate some of the themes from gambling into applicable tactics.
Being able to read people and assess risk is paramount in business
One of the most important skills to have is being able to read people. Knowing what makes a person tick or what’s their real intentions will give you clarity, and peace of mind. There’s a saying “Keep your friends close and your enemies closer.” When you are building a product or service, make sure you can evaluate and include business partners that will endure the journey at its worst and at its best.
Managing your business requires you to do a risk assessment. Like someone who is a risk-taker, you have to spread out your efforts and resources. You cannot place your entire eggs in one basket, but rather in several of them. You must do mental calculations before making your next move. Just like poker players or gamblers, they assess the risks of making the next move, which could make or break your business.
Being a nurturing leader versus an egocentric authoritative figure
A common mistake to make when you become a CEO, manager, supervisor or a lead person is bossing people around. It is about maximizing and growing the professional potential for women and men. A business whose philosophy centers on self-promotion and ego-oriented goals will have as a result a contentious and competitive environment.
The relationships you build are …read more
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