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5 Points on Success in Business

Success is what we all strive for. Success in business is certainly defined by profitability but ultimately the meaning of success is determined by the individual. Success can only be achieved through overcoming challenges and failure is the best teacher in this regard. We’re taught to deal with failure throughout our lives but once success is achieved the means of maintaining it are not so clear. To remain successful can be the ultimate challenge. Following are points on achieving and maintaining success:

 

  1. Know What Defines Success – Not everyone’s definition of success is the same. Of course meeting sales and profitability objectives are indicators of success. But true success depends on the individual. One person may define success as doing what they like and earning a good living at it while another may define success as owning a multi-store chain.
  2. Success Cannot Exist Without Failure – With every vision of success there is a corresponding picture of failure. Furthermore success cannot be achieved without experiencing failure. Recognizing failure and identifying corrective actions is at the heart of achieving success.
  3. Dealing with Failure is Commonplace – Dealing with failure is a part of everyday life. We’re taught from an early age how to handle failure. ‘If at first you don’t succeed – try, try again’ is an expression we’re all familiar with. Learning from failure is the key to success.
  4. Achieving Success Requires Effort and Focus – It is understood that success is achieved through hard work and discipline. Learning from failures and improving will lead to accomplishment.
  5. Sustaining Success Requires Self-Motivation – Success indicates that a winning formula has been realized. This means that the failures that drive us to success will be less evident. We’re taught all our lives how to deal with failure but very little on how to handle success. To remain successful we must seek areas to improve in. They will no longer come looking for us. Achieving success is challenging – remaining successful is the ultimate challenge.

Failure is not permanent and neither is success … Mike Ditka

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