Tips to a Successful Business

Before I quote any thing about the tips to a successful business let me narrate a small story to you. The story goes like this. There was a trader who used to deal in the business of selling wood to the other cities. No doubt he was loaded up with riches because trading in the wood was one of the most beneficial trades of those times. For this trade he had some woodcutters employed who used to cut trees and bring wood from a nearby forest. Every woodcutter used to get $5 per log of wood that means $5per tree. A woodcutter amongst them named Stuart was the best who used to cut 20 trees a day while the others somehow managed to cut 10. One day another woodcutter amongst them named Richard approached Stuart who was quite staggered by his work and was also very inquisitive as to from where does he bring such stamina to cut as many as 20 trees. He asked the same to Stuart. Stuart gave a bright smile and asked Richard, “Friend tell me a thing, how often do you sharpen your axe in between cutting the trees?” Richard answered, “Twice a day, but why? “ Stuart said, “There you are buddy. You have made your answer obvious yourself. I sharpen my axe after cutting every second tree. Result is cutting of the tree in a quicker and better way which reduces the excess use of labor. The case is with you that you sharpen your axe only twice. Consequently you end up cutting 10 trees a day and less remuneration a day. Go and try it friend. This method would really work wonders for you.” Richard thanked Stuart and went back to his work. He applied the same technique and he found himself to be more successful day by day.


By now you must have got to know that on what I’m trying to focus. Yes it is not about how many trees one cuts but in what way he utilizes his tools and techniques in order to ensure greater efficiency. The forthcoming description would revolve around the dos and don’ts for running a successful business or an entrepreneurship.

Making a Good Start to Run a Successful Business in Future:

It is very crucial to start up a business. Moreover one needs to make wise decisions right from the beginning in order to reduce hassles in future. The coming up points would outline as to what all requirements one needs to fulfill while starting a business:

• Get enough money collected before starting an entrepreneurship to finance all the factors as you may need it over and over especially in the starting years.

• Try to start a business on a smaller scale. Don’t start off by making the mistake of employing too many employees in the beginning. Do not even take a big building to start your business. You would find yourself loaded with debts if you don’t gain in the starting years.

• Safeguard your private property. It is a common practice that creditors target your personal assets if you are unable to pay through your income out of the business. Therefore having enough money to avoid taking loans proves to be a better idea.

• Analyze as to what will be your forth coming step if you make a profit or incur a loss.

• Have a plan ready for yourself prior to starting the business.

• Avoid oral agreements and stress on written agreements in your business.

Dos and Dont's after Starting a Business and Running it successfully:

The basic dos and dont's are listed in the following manner for running a successful business:

• Have a thorough knowledge of your customer.

• Try to maintain healthy customer relationship.

• Convince your customer that he can depend upon you for a project to be completed and can count upon you.

• Maintain a level of privacy between you and your customer.

• Safeguard your customer’s interest.

• Say yes to only those projects which fall within the limits of your capacity.

• It is better to tell the customers that your hectic schedule does not permit you to work on an additional project rather than bluntly saying a “No”.

• Apologize if you are late with your deliveries.

Finally what can be concluded is that a successful business requires lot of labor and creativity. No amount of tips can make one successful. The success or failure depends a lot upon the vision and decision making skills of an entrepreneur.

Entrepreneurial Lifestyle

It is rightly said by Bill Drayton that “What is the most powerful force in the world? And I think you would agree that is a big idea if it is in the hands of an entrepreneur who is actually going to make the idea not only happen, but spread all across society. And we understand that in business but we have need for entrepreneurship just as much in education, human rights, health, and the environment as we do in hotels and steel.”



Entrepreneurship is a human act which is rapidly spreading all over the world. Today, there are plenty of people for whom entrepreneurship is the first choice for building a successful career. However, the reasons for approaching this field specifically are different. Some people want to be their own boss, some want to experience the thrill, some want to enter into this as entrepreneurship is in their blood and some want to earn more money in less time. The more are the aspirants, the more are the reasons. However it should be kept in mind by every aspirant that ‘all that glitters is not gold’. People think that it is a way to earn lots of money or they can enjoy freedom by becoming an entrpreneur. Although all these things can be achieved through entrepreneurship, however, there is lot more which has to be faced by any entrepreneur. Without entering into the world of entrepreneurship, it is more or less impossible to get familiar with the basic lifestyle of any entrepreneur. One, who lives it, can only feel it. However, to get an idea about it, here is some of the information about the entrepreneurial lifestyle and its requirements.

Entrepreneurial Lifestyle- Its requirements and essentials:

1. Long working hours: If you want to earn a lot, you are required to work a lot. It is true that through in entrepreneurship, people can earn a lot of money, probably which is next to impossible by being employed under anyone else. Entrepreneurs are required to take every decisions individually(which has to be correct for the sake of business) related to the organization. So it is almost obvious to work for long hours. After all, here one cannot say that “this work does not fall in my job profile”. So for taking all the issues of the organization under consideration, the long working hours are more or less usual in the entrepreneurial lifestyle.

2. Handling stressful situations: Stress is also an enforced feature of any entrepreneur’s lifestyle. It is a factor which cannot be avoided at any point of time in entrepreneurship. There are no specific reasons behind being stressed, it can be anything like- unable to handle a particular employee, loss in business, unable to manage the work, etc. All these issues are more or less obvious in the life of an entrepreneur. These are unavoidable aspects of entrepreneurial lifestyle.

3. Setting and chasing targets: For getting something, one has to set the targets and so it is applicable in the field of entrepreneurship as well. One cannot sustain the business without setting some goals or objectives. After all, if one doesn’t know where to go, how would he move ahead? It’s true that entrepreneur is his own boss and there is no one to give him targets, however for leading the business successfully he is required to set the target on his own. Without targets no business can grow and develop. Setting targets doesn’t require any special occasion; it is an everyday activity in the lifestyle of entrepreneurs.

4. Planning, organizing, directing, controlling and developing: An entrepreneur has to deal with multiple tasks everyday in business. There are lots of works which have to be considered on a daily basis. Planning, organizing, directing, controlling and developing, all these activities are required to be considered by the entrepreneur every day, in some or the other way. Planning about a new project, organizing man power for that project, directing and controlling their work, developing the quality of the work, etc. are some of the examples which are unavoidable in the entrepreneurial lifestyle.

5. Management: Management is another important aspect of entrepreneurial lifestyle. Management is required everywhere in business, and this activity is more or less a compulsion for entrepreneur so as to sustain the business. Whether it is about managing the workforce, managing the projects, managing the clients or even managing himself, all these things are parts of an entrepreneur’s life. It should be remembered that a poorly managed business can never sustain for long. It is an everyday exercise which is required in almost every aspect of the organization. Hence, management is a requirement as well as essential of entrepreneurial lifestyle.

6. Confident as well as strong-minded nature: Confident nature and clear thinking are also the requirements of entrepreneurial lifestyle. Without having these qualities no entrepreneur can fit into the hectic lifestyle of entrepreneurship. There are lots of issues and affairs which are hard to be handled without having a determined and confident attitude. Apart from that, this aspect is also necessary while taking and making any decisions of the business. After all, if one is not completely confident on his own plans how can he assume that the plans would work? Hence, confident and determined behavior is also a necessity for any entrepreneur to adjust in the lifestyle of entrepreneurship.

All these features hold a great space in the entrepreneurial lifestyle, however, it is not that lifestyle of entrepreneurship is all about pressure and hardwork. An entrepreneur is also a human being, he also needs some enjoyment and leisure hours. Although, finding the scope and time for fun as well as enjoyment is hard but not impossible. If one knows to manage the time and work efficiently, everything is possible.

At the end it can be said that the life of an entrepreneur seems to be uncomplicated and trouble- free from outside, however, in reality, it is just the opposite. An entrepreneur is required to work proactively, and for him, everyday is a challenge. Everyday something new takes place in the business which needs to be handled efficiently and effectively. Different types of essentials and requirements are present in the entrepreneurial lifestyle which needs to be handled carefully so as to secure the future of the business. So if you are thinking to start your own business, read the above mentioned points related with entrepreneurial lifestyle, they can help you to take a doubtless decision.