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How to be a successful businessman (the complete guide)

This article throws light upon the ten main qualities of a successful businessman. The qualities are: 1. Knowledge of Business 2. Accuracy 3. Time Sense and Foresight 4. Alertness 5. Honesty and Morality 6. Initiative and Capacity to Make Decisions 7. Ability to Co-Operate 8. Consistency and Dependability 9. Energy 10. Personal Qualities.

Quality # 1. Knowledge of Business:

The businessman should have a thorough understanding of his business. He should be clear about the aims and objectives of the business. The knowledge of business should be supplemented by knowledge of finance, marketing and mercantile laws. The knowledge of all these aspects is essential to tackle the problems of complex business.

Quality # 2. Accuracy:

The next main quality is that he realises what he is talking about and what he means. Precision in regard to the orders and their execution is imperative. It is essential that he should be a man of right thinking. He must be able to grasp his problems by treating them quantitatively.

Quality # 3. Time Sense and Foresight:

It is imperative for a modem business to appreciate the time and think in terms of time. There is a chain of action which must conform to the rapidly changing needs of the ultimate consumer. He must be able to forecast with foresight and look into the future. Having detected the wants, he must be capable enough to proceed intelligently to meet those wants.

Quality # 4. Alertness:

The businessman is required to keep in touch with the developments taking place in his own country and the world. He cannot be successful if isolated. He must be alert in not only meeting the wants but in creation of the wants.

Quality # 5. Honesty and Morality:

It is of utmost importance that the businessman should adequately satisfy consumer demands most honestly. He must use his ability to provide precisely what is demanded from him. He must maintain quality standard most honestly. The honesty and optimism which goes with it are attributes of the businessman at his best. Honesty with him should not only be the policy but actual practice.

Quality # 6. Initiative and Capacity to Make Decisions:

The success of businessman largely depends upon his ability to make decisions promptly and boldly. Indecision very often results in missing profitable business opportunities. Decision-making is the basic ingredient of executing any task. Accordingly, it is necessary that businessman should be in position to take correct and prompt decision.

Quality # 7. Ability to Co-Operate:

He must be soft-spoken and adopt co-operative and accommodating attitude towards all those with whom he comes in contact with. He must be able to compromise, adjust, adopt and be willing to admit that his judgement on occasions was wrong. He must also be temperamentally fitted to exercise divided authority. Understanding others is viewed as a pre-requisite-par- excellence as a most expedient stepping-stone for success.

Quality # 8. Consistency and Dependability:

The businessman must be of consistent mind so as to be able to exercise his firmness in the right direction in dealing with others. He should hold the organisation constant and hence dependable. A dependable businessman satisfies co-workers who are loyal to him and the unit directed by him. Therefore a businessman who wants results should avoid inconsistency, and its inevitable result, unfairness, etc.

Quality # 9. Energy:

A bountiful endowment of physical and nervous energy is another essential without which other qualities are hardly of any value. In addition to energy, he should be capable of putting up forcefully his suggestions and points of view which he considers to be in the right direction.

Quality # 10. Personal Qualities:

The businessman in addition to the above should also possess qualities common to a leader. He should be kind-hearted and have human approach to problems. He should be intelligent, mentally alert, of constructive imagination, self-confident, self-restraint, honest and sincere. Above all, he should be social and be a man of high character.

How to be a successful businessman (the complete guide)

Among social platforms, Instagram takes a special place in terms of its effectiveness for business purposes. The combination of visual and written material gives a unique opportunity to promote, develop, and make sales on the platform. User activity on this network is also various, which offers a better chance for bonding with your audience and expanding your limits as a brand. In this article, we shall discover the 7 most efficient tips that will make Instagram a great help to your business.

Invest In Your Promotion

This point is not just about getting cheap Instagram comments on comment-up.net. Along with unofficial ways to gain stats, Instagram itself offers a well-developed system of paid promotion. This platform is connected with Facebook, so some features can be found on the unique advertising settings page on FB, which is why it is recommended to connect your profiles on both social networks. But the significant functions and statistics are available on Instagram.

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The advertising system on IG is working with the existing algorithms and requires a good understanding of who your target audience is. When streamed to the right audience, Instagram Ads helps to fulfill many goals:

  • Increase the visibility of your profile
  • Get more sales
  • Redirect traffic to your website
  • Expand your reach and gain more followers.

Make The Most Of Your Stories

Instagram Stories is not a unique format, but on Instagram in particular, it has become a powerful instrument for attracting and retaining users. Stories are a vanishing type of format targeted for engagement with users “here & now”, and any business shouldn’t neglect this chance to bond. One of the best features about stories is that this form of content appears at the top of the feed, and each time you post one, your icon will be moved into the beginning of the line, allowing you to remind yourself subtly.

However, there is always the risk of overdoing it, so you should be careful with posting stories. To keep the attention on the high level, spread your posting throughout the day, and avoid meaningless content. As for business, you can vary your Stories content with the help of creating a catalog, demonstrating your product in motion.

Constantly Analyze Your Progress

Thanks to the implemented feature for tracking your main stats that is called Insights, you can easily reach your current results and use this data to improve your performance. This function helps to make your strategy more flexible according to the preferences of your target group. Through Insights, you can see what kind of content is the most interesting to your viewers and which content is less efficient and has to be eliminated or changed. To increase the effectiveness, you can use additional tools for tracking your results. Make sure your adjustment is organically implied, and you do not change your course too radically at once.

Create Exclusive Content

This tip is working not solely for Instagram but for all other social platforms as well. The key to retaining users on your profile is to give them something unique that will hold their attention and motivate them to leave comments under your posts. In terms of cross-promotion, you should vary your materials as well. This way, you can increase your audience on each platform you occupy and secure the traffic between the networks.

Engage With Your Audience

How to be a successful businessman (the complete guide)

This is probably the most crucial point to remember. Without a bond with your viewers, you can’t be successful on Instagram. There are many ways to keep up the engagement rate high:

  • Communicate with your followers in every possible method, encourage them to discuss your posts in the comments section
  • Play games and host contests to increase the interest in your product
  • Take your viewers behind-the-scenes and reveal some interesting information about your production
  • Provide user-generated content for increasing the loyalty of your audience
  • Ask questions
  • Listen to the ideas your followers may bring up
  • Provide high-quality customer services and support for your buyers

Try Personal Approach

Social media have a unique opportunity to humanize brands, and you should use it for good. People come to socials looking for communication and emotional experience, which you can give as a business. One of the most effective ways is to run your profile, becoming the primary personality of it. You can use a custom persona, but it is recommended to use your flair for better results.

People want to connect with other people, not soulless brands which only ask to leave сomments. And creating a hearty and personalized communication manner is one of the best strategies you can think of. It would be best if you didn’t reveal everything about your life, but it is up to you to regulate the level of sincerity. However, some things should be kept down.

Show More Than A Product

Nowadays, most industries’ competition level is very high, and it can be hard to conquer the target audience’s attention with your product features only. To win the public’s appreciation, a brand has to demonstrate other points of connection that can attract users. Again, due to the variety of choices in a single industry, customers have higher expectations and demands, so you should try to reach them with other activities than your production.

Grow Your Business, Not Your Inbox

How to be a successful businessman (the complete guide)

How to be a successful businessman (the complete guide)

The following is an edited excerpt from Successfully Navigating the Downturn by Donald Todrin from Entrepreneur Press.

The darkest days of the Great Recession are over, so we are told, but I’m finding that sales have increased only slightly for some small-business owners, while revenue remains deeply depressed for many. While some customers are loosening up their wallets a little, it is clear purchasing habits have changed.

Deep economic changes have occurred, and business will never be the same.

Entrepreneurs — whether they’re an unemployed person striking out on their own or a seasoned veteran trying to get the mojo back again — must do things differently in order to survive. Everyone must change, especially small-business owners.

Luckily, what have not changed are the business fundamentals, those management traits that successful entrepreneurs almost all possess: tenacity, commitment and vision, and basic business skills.

New strategies are required, however, strategies designed to work in a changing business climate.

I’ve had a chance to develop and implement these strategies first-hand during the recession and its aftermath — and have employed them myself. Not only have I consulted with many businesses over the years, but I’ve had a hand in running over 57 businesses of my own. I have a good idea of what works and doesn’t work today, learned in the front lines of hand-to-hand small-business combat.

Here are seven tips that will help to ensure your business is a success:

1. Have a written plan. Without a plan, it is merely a dream. It doesn’t have to be a book, but you need a few pages outlining specific objectives, strategies, financing, a sales and marketing plan, and a determination of the cash you need to get things done. Writing it all down is a crucial first step.

2. Don’t marry your plan. Every great military general in history has known that even the best-laid plan sometimes has to be thrown in the fire when the bullets start flying. Adjust, confront and conquer.

3. Keep your ego in check and listen to others. Advisors are crucial because you need people to bounce ideas off, inspect what you’re doing, and push you to greater accomplishments, holding you accountable for what you are committing to do. Always be good to your word and follow through on commitments, even when difficult and challenging. This isn’t about you; it’s about the business. Don’t take things personally and stay out of emotion. Do not let your ego take control.

4. Keep track of everything, and manage by the numbers. Create written systems for everything, because you will reap benefits from them later on. This is how you train your employees and retain consistency. Know your numbers and check them daily and make all decisions based on what they tell you. One of the most important calculations is cash flow pro forma. Determine how much cash you need to do the business, and do not start without the required cash on hand.

5. Delegate to employees and avoid micromanaging them. A manager’s job is to delegate and then inspect progress. So don’t be a control freak. Keep business organization flat. If you delegate effectively, you will get more and better then you expect. Have an actual written training and orientation plan so your employees know what is required of them. Use an incentive-based rewards system, and maintain a no-problem attitude about issues that crop up.

6. Use the Internet. It is incredibly powerful and very cost efficient, but it takes time and some skill. It is about creating a community, using social media networking such as Facebook, YouTube, Twitter and blogging to build rapport with your market. You need to get on the train and do it, because your competitors are.

7. Reinvent your business. It is net profit, not gross revenue, that you want to focus on. Separate yourself from your history and create a new competitive advantage, be it a focused niche or super service, but not by discounting.

Above all, have fun. Being an entrepreneur is your choice, so make it work. It can be done. You can survive, emerge and succeed in this downsized economy, if you follow the right path.

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Do you want to be a successful entrepreneur ?

Defiantly, big YES!

But how ?

Presently the development of science and technology in every field of life has also made modern business a complex one. Its success mostly depends upon the qualification, experience. Skill and expertness of the business man who has to take all the business decisions. So the following personal and other qualifications may make a person a good businessman.

In this article, you will find some top class qualities of a successful businessman or entrepreneur that might help you to run a profitable business & become a business tycoon.

Top Qualities of A Successful Businessman:

1. Physical appearance

2. Education

Today business is a complex activity and demands the services of educated and skilled persons who especially know the tacts of business. So the education is compulsory for a good businessman to understand the complication and has communication with others.

3. Technical Skills

Today every business demands some sort of technical skill. So a good businessman must know all those technical skills required fir that particular business which he has stated. For example if you wants to manufacture Air crafts, then you must be a engineer and if you want to open an audit firm then you must be a charted accounted.

4. Honest

It is true that honesty is a best policy, so, for the success of the business, it is necessary that the business must be an honest person. He should not deceive any one. He should not mix up inferior quality in his own. He should work honestly. People will trust him and his business will develop.

5. Hard working

A businessman must be a hardworking man. He should be habitual to work for a longer time to develop and look after his business. If he is not hard working and is a lazy person he cannot complete the other and he will have to suffer losses.

6. Courteous

A businessman must be a cool minded person and should talk with his subordinates, colleagues and customer politely. He should not leave courtesy in any case, in this way can win the hearts if his customers and can develop the business relations.