There are so many business concepts that every aspiring mogul must know when they decide to take their professional career to the next level. The terms you will read about below display some of the concepts that you should become very much aware of and chase after. These concepts will help propel you and your business forward as they are proven and remain timeless pieces of advice. Enjoy and please feel free to share!
Never lose sight of what you and your company do best. It is extremely easy to get into new businesses and be excited about expanding your company’s portfolio, but it’s very easy to get lost in the mix. Take a look at GE, who began expanding their offerings many years ago and are in the process of selling off countless divisions to get back to their core business and growing more in that space. Don’t get caught with too many balls in the air when you only need one or two. I’ve always believed it’s better to do one thing perfect rather than five things, okay.
Keep it Short, Keep it Sweet:
Every pitch you make should be short and concise. No one in business has all day to listen to countless ideas that are half-formulated. My best advice for everyone in this realm would be to come up with a strong, concrete plan, and present it to a superior in 30 second or less. The average attention span for people isn’t that much more than 30 seconds so it’s important to use that time to your advantage and get your point across quickly and with conviction.
Work Under Pressure:
Be prepared to work under pressure and do it well. Like the famous quote says, “be comfortable being uncomfortable.” There will no doubt be times in your working career that will test your stamina, your drive, your motivation, and your very being, but the most successful people in business rise above all of that because they see the bigger picture and can work under tough times. No one is perfect is it’s important to remember that if and when you make a mistake, or need to make a tough deadline, or now have more responsibility. Always look to the bigger picture, embrace change, and keep pushing.
Know When to Quit:
If you have ever heard the old expression, “don’t beat a dead horse,” you would know what I mean. Occasionally a company will make a mistake and it’s important to recognize them fast. It’s vital to know when to pull the plug on specific project or venture to ensure the longevity of your business. Walking away from an endeavor doesn’t mean it was a failure, it only means it was a learning experience.