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Five timeless business strategies to steal from the big dogs

Have you ever wondered why some people are successful in business and everything they touch seems to turn to gold? Many people think it's purely down to good luck or that these business people are in the right place at the right time. However, in most cases the 'big dogs' follow timeless business strategies that anyone can use to produce the same results.
The difference is these successful individuals are single minded and don't give up until they reach their goals. These are five strategies you should follow:


1. Surround yourself with the best people

The most successful business people are excellent team builders and leaders. They understand that in order to become the best business in your industry, you have to hire the best people. Your team will decide how well your business will perform. Once you start attracting high caliber people, you will be the one who captains the team and directs your business in the right direction.

2. Create a networking strategy

The people you build relationships with outside your business are just as important as those who work for you. Many business owners ignore the importance of networking. However, it's one of the most effective ways to build important relationships and create future opportunities. Create a networking strategy that increases the likelihood of meeting and building relationships that will benefit your business.

3. Organise your business

Many businesses fail because they are poorly managed and organised. It's easy for things to get out of hand. From the start you and your management team need to create a strategy that makes your business operate as efficiently and smoothly as possible.

Creating and refining processes and systems within an organisation can quickly transform your business into a slick operation. Simple changes like introducing internal audits, checks and quality assurance are simple changes that you can make to create these changes.

4. Communications strategies

Poor communication inside and outside a business normally has serious consequences for the organisation. Internally, it's wise to invest in the latest communications technology and promote more interaction and communication between staff members.

Communicating with the outside world is just as important. Business owners and their staff should have a clear strategy and plan for marketing to customers, customer service, dealing with suppliers and other external communication.

5. Take calculated risks

The phrase "you have to speculate to accumulate" comes to mind when it comes to taking business risks. However, you don't want to gamble with the future of your business by taking unnecessary risks. This is why many people who eventually become billionaires like Joseph Calata are willing to take calculated risks based on facts and well-thought out strategies. They reduce the impact of this type of risk and its effect on their business.

Before you decide what strategies to implement, you have to know what you want to achieve first. Building a business is like going on a journey. In order to reach your destination, you need to continually draw up plans and strategies to achieve your goals.

3 Dec 2015 10:14

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About Boris Dzhingarov

Boris Dzhingarov graduated UNWE with a major in marketing. He is the CEO of ESBO ltd brand mentioning agency. He writes for several online sites such as Tech.co, Semrush.com, Tweakyourbiz.com, Socialnomics.net. Boris is the founder of MonetaryLibrary.com and cryptoext.com.




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