When we think talk about capital for a business, we usually think about money. One timeless wealth-building secret is to use other people’s money, commonly referred to as OPM.
We hear it all the time, successful people stick to it. They don’t give up. They try, try again. But sometimes in spite of all that effort, success is still elusive. What should you do? It may be time to abandon ship!
Click the player to listen to this episode of The BIGG Success podcast. Find the summary below.
In our last podcast, we said that persistence is the single most important ingredient for your success. If you persist long enough, you’re sure to succeed! However, you have to be smart about it. There are 4 signs it’s time to abandon ship – some are internal and external.
Today we’ll discuss how to tap into your hidden potential – that powerful force that lies within you. Find ways to bring it to the forefront and you’ll change your life, the life of those you love, and perhaps even the world!
https://biggsuccess.com/wp-content/uploads/2008/01/4-Ways-to-Tap-Into-Your-Hidden-Potential-blog-post-image.png430448George Krueger & Mary-Lynn Fosterhttps://biggsuccess.com/wp-content/uploads/2015/07/BIGG-Success-Nurturing-Your-Inner-Entreprener.jpgGeorge Krueger & Mary-Lynn Foster2023-06-14 12:18:052023-07-02 14:10:504 Ways to Tap Into Your Hidden Potential
That’s where you will find customers, employees, mentors, brand advocates, and more.
And while social media networks like LinkedIn allow us to grow our networks faster than ever, new research shows that having a large network may not be the way to go.
To build a strong network – who do you need to connect with?
https://biggsuccess.com/wp-content/uploads/2022/03/The-6-Types-of-People-You-Need-in-Your-Network-blog-post-image.png430448George Krueger & Mary-Lynn Fosterhttps://biggsuccess.com/wp-content/uploads/2015/07/BIGG-Success-Nurturing-Your-Inner-Entreprener.jpgGeorge Krueger & Mary-Lynn Foster2022-03-16 15:07:432022-03-16 15:09:23The 6 Types of People You Need in Your Network
How do you reach BIGG success as an entrepreneur? Remember the 4 P’s:
People
Put people first. This starts with you. Your business should serve you, not the other way around.
It continues with your employees. You may not have any at first, but as your business grows, the need will likely arise. Don’t neglect these people. Happy employees lead to healthy profits– another one of the p’s as you’ll soon see.
But neither you nor your employees will have any job security if you don’t please your customers. Attracting and, more importantly, retaining customers should be job #1 for everyone in your business.
Purpose
Your purpose lies where your passions and strengths intersect with a market need. You and your people are able to solve a problem for another group of people.
Your purpose defines your firm’s reason for being – your why. It should be easy to say and even easier to remember.
More importantly, your stated purpose explains the difference you make in the world. It should inspire you and your people to perform at your highest capacity.
Process
Stated simply, a process is a set of procedures. A set of processes forms a system – more specifically, your operating system.
Purpose helps define the what while process describes the how. Purpose helps you determine the right things day to day. Process helps you do them the right way.
Together, purpose and process help you do the right things the right way. You need them both to be a BIGG success.
Profit
Finally, we come to the final P – profit. Contrary to many people’s misperceptions, profit is not a dirty word. Without profit:
you won’t be able to replace equipment as it wears out
you can’t repay your bank debt
you won’t have any money to invest in growth
you won’t be able to justify pay raises
you won’t have the funds to hire more help
you would be better off investing your time and money elsewhere
Even non-profit entrepreneurs have to earn a profit if they want to serve more people. It may come in a different form than a for-profit entrepreneur but – make no mistake – it is essential for all enterprises.
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