Latest news with #businesssuccess
Entrepreneur
3 days ago
- Business
- Entrepreneur
5 Lessons I Learned the Hard Way About Business Success
Opinions expressed by Entrepreneur contributors are their own. I've been through it all — companies that soared, companies that sank, deals that looked like gold and turned out to be sand and partnerships that either multiplied value or silently killed it. If there's one brutal truth I've learned after decades of building, buying, selling and sometimes burying companies, it's this: Relationships — not ideas, capital or even timing — are the ultimate determinant of success. It's a lesson that no spreadsheet will teach you and no pitch deck will fully convey. But it's the one thing every founder, CEO, investor and partner needs to internalize if they want to build something that lasts. Let me explain through five unfiltered truths I learned the hard way — some through exits, some through bankruptcies. Related: How to Build and Sustain Deep, Meaningful Business Relationships (and Why It's the Key to Long-Lasting Success) 1. Bad partnerships are more expensive than bad products A bad product can be fixed. A misaligned partner? That's a cancer in the system. I once co-founded a company with incredible potential — strong unit economics, great early adoption and even some early buzz in the media. But internally, the leadership team was fractured. One partner prioritized short-term revenue. Another obsessed over product perfection. And I, caught between the two, tried to play referee. Guess what happened? We burned cash arguing. We stalled decisions. Morale tanked. Ultimately, the company died — not because of the market, but because we couldn't get out of our own way. Looking back, I now ask this before every deal: Do I want to be in a foxhole with this person when things go wrong? If the answer isn't a hell yes, it's a no. 2. Bankruptcy is a leadership failure, not a market failure Yes, markets change. Yes, industries shift. But most of the bankruptcies I've seen — including my own — weren't because of the economy. They were because we made poor decisions, delayed hard conversations and ignored red flags. We had a company that seemed unstoppable — fast-growing, flush with investor interest and scaling quickly. But internally, management was siloed. Sales leadership was misaligned with operations. Decisions were made based on ego instead of data. We ignored tension because things were "good enough." Until they weren't. When it collapsed, it was easy to point fingers at external market conditions. But the truth? We failed ourselves. That experience forever changed the way I build. Now, every leadership meeting starts with alignment. If leadership isn't rowing in the same direction, I don't care how good the boat is — it's going nowhere. Related: Want Strong Business Relationships? Avoid These 3 Mistakes. 3. Buyers don't buy products — they buy people When I've successfully exited companies, there's a pattern that shows up every time: We were aligned with the buyer on values, vision and execution style. One of our best exits came not because we had the best tech, but because the acquiring team said, "We want to work with you guys." They knew we had strong relationships across departments, high employee retention and a culture of transparency. Deals get done when there's trust. Period. It doesn't matter how great your EBITDA is if the buyer doesn't believe in your leadership or your people. If you're preparing to exit, ask yourself: Would you buy this company if you didn't know the numbers, but just knew the people running it? If the answer is no, you've got work to do. 4. Decision-making is a muscle — train it or lose it Poor decision-making doesn't show up all at once. It's a slow erosion — a hundred little moments when you defer, delay or delegate decisions you should own. One business I led started slipping when we over-delegated key choices to mid-management without ensuring those managers were aligned with the company strategy. Over time, execution drifted. Product launches missed the mark. Marketing lost focus. And we didn't notice until revenue plateaued. Strong companies don't just have good leaders — they have good decision-making systems. Now, in every company I touch, we prioritize decision hygiene. Clear frameworks. Accountability. Retrospectives. You can't outsource judgment. You have to train it. Related: 8 Strategies for Building Long-Lasting Business Relationships 5. The exit isn't the end — it's the mirror When you sell a company, the terms of that exit reflect everything you did right — or wrong. Great exits happen when: You have strong internal processes Your financials are airtight Your leadership team is trusted Your reputation precedes you Bad exits — or worse, failed exits — happen when: You patched things together just for the data room Buyers smell desperation You can't clearly explain how the company runs without you I've lived both sides, and I'll tell you: Nothing haunts an entrepreneur more than realizing they killed a great business by not focusing on the fundamentals early enough. So, what's the takeaway? If I could give one piece of advice to any founder building a startup today, it's this: Invest in relationships before you invest in features. Build trust before you build scale. Fix your internal operating model before you chase more revenue. Money follows alignment. Buyers follow leadership. Teams follow purpose. And if you get those right, the next big thing might just follow you.
Forbes
4 days ago
- Business
- Forbes
Starting A Business? 20 Steps To Catapult Success
getty Starting and running a successful business is rarely as easy as it looks. While success stories have become more common with the rise of social media and technology, failure and challenging moments are just as prevalent in the entrepreneurial journey. As experts, the members of Forbes Business Council know the effort that goes into running a business. Below, 20 of them offer first steps for entrepreneurs seeking to start a successful business, as well as how and why those steps impact success. Start by defining what success means to you. Whether it's impact, income or innovation, having clarity on your personal goal shapes every decision that follows. Without it, you risk building something that looks like success to others but feels empty to you. - Jon Osterburg , Jitasa The first step is to clearly define your purpose and identify a real problem you're passionate about solving. This will give your business meaning, direction and a reason to exist. When your mission aligns with market demand, it becomes easier to attract customers, build a strong brand and stay motivated through challenges. - Stephen Nalley , Black Briar Advisors Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify? I recommend entrepreneurs begin with the end in mind. What are you trying to create, and for what endgame? Is it to sell, or to pass the business on to your kids? Designing a business from the ground up with the exit strategy in mind adds incredible value and clarity in decision making. You are far more likely to reach your ultimate goal if you focus on it from day one. - Craig West , Capitaliz 4. Assess Feasibility It would be good to have a mindset of starting an innovative business, which should help an entrepreneur stand out from the rest. Assessing feasibility is essential to understanding the projected profit and loss and cash flow situation for the next five years, as it helps ensure that the business can sustain itself and generate enough profit for further expansion. Recruit staff with passion, positivity and a desire to succeed holistically. - Ramesh Arora , SIGNATURE HOSPITALLITY GROUP 5. Validate Your Idea With Real Customers The first step in building a successful business is validating your idea with real customers. Before you invest time or resources, have honest conversations to understand their needs, pain points and willingness to pay. Success comes from solving real problems—and that clarity only comes from deep listening, not assumptions. - Arunabh Dastidar , Leni 6. Prioritize The 'Why' Start by asking whether you are passionate and can truly help the customer. Too many entrepreneurs focus on the exit before proving value. If you build from purpose and solve a real problem, everything else, from the product to the team and funding, will follow. The right foundation isn't strategy; it's service. - Jamil Bouchareb , Restaurantware 7. Assess The Market Assessing the market has to be the first and most fundamental step. If there's no sufficient market need for the product or service, or you can't create that demand, then the business does not have a solid foundation to start. This includes assessing how the market will develop, in particular with changing technology and demand. - Paul Williams , La Vida Europe Ltd 8. Map Out What You Want From The Business I always suggest mapping out what you want to get out of the business, both personally and professionally. Beyond making a profit, entrepreneurs must ask themselves what they must or must not have from this business. For example, when I started my business 16 years ago, one of my 'must haves' was spending time with my sons. The definition of that has evolved over time, but it has remained a constant and kept me happy at work and at home. - Gary Romano , Civitas Strategies 9. Find A Partner The first step to ensuring you will have a successful business is making sure you have an implementor in place. Most people who are starting a business are the visionary or the idea person. You need to have someone at your side to help you implement your vision so you can focus on big-picture items like problem-solving, growth and innovation. - Melissa Johnson , E3 Coaching LLC 10. Know Your Target Audience Start by getting radically clear on who you serve and why. Without a deep understanding of your audience's pain points and desires, your message won't connect and your offer won't convert. Clarity is the foundation, as everything successful is built from there. - Shay Levister , Shay Better Coaching LLC 11. Build A Strong Data Team Start by building a strong data team. Solid data lets you make clear, confident decisions from day one. It also helps you understand your customers, spot trends early and adjust fast. If you want to grow smart and stay ahead, let data lead the way. - Trey Ferro , Spot Pet Insurance 12. Develop A Marketing Strategy Get really good at creating content and being the face of your brand. The most successful businesses I've seen are led by founders who confidently show up on camera. When you share your story with authenticity, you build trust, and trust builds traction. Content is the bridge between your brand and your audience, and you're the one who makes it real. - Kelly Rocklein , UGC Pro 13. Choose The Right Name Finding a business name that is not already being used is one of the hardest things to do right now when starting a new business. It seems like everything has already been taken, but if you get creative, you can still find an amazing name that can help build your brand. - Tonia Ryan , Techvoya 14. Build Awareness Of The Business Building awareness is the first step in marketing. Before someone becomes a consumer, they are a watcher seeking signs of trust, reliability and consistency. Because they will pay close attention to how you show up, your goal is to make sure your brand is what comes to mind when they're ready to buy a specific product or service. - Sharmylla Siew , Cobalt Funding Solutions 15. Prioritize The Primary Problem Focus on the problem you're solving. It's easy to get caught up in the idea of the business itself, but true success comes from understanding the real needs of the market and how your solution fits into it. Once you know the problem, build a product or service that genuinely addresses it. Get feedback early, iterate quickly and remain adaptable. - Umair Javed , tkxel 16. Figure Out Distribution Before building the product, figure out how you'll get it in front of people. We thought deeply about distribution before anything else. You can have the best solution in the world, but if you can't reach the right audience, it won't matter. Start by asking how you will sell this. Then, build backwards. - Aleksandr Zemel , NYWD 17. Practice Strategic Silence The first step I recommend for starting a successful business is practicing strategic silence to gain clarity. Silence is not a luxury in a world constantly pulling at our attention—it's a leadership tool. Before drafting a business plan or raising capital, take time for stillness and intentional reflection to tap into the voice of purpose. Before you launch outward, lead inward. - Jacqueline Grice , J Diamond Inc . 18. Get Your Family's Blessing Check in with your partner. I invest in pre-seed and inception-stage founders, and you'd be shocked at the number of companies that fold at the finish line of a fundraiser because one of the co-founders forgot to ask their spouse if they could start a company. Entrepreneurship is a whole family commitment, so get their buy-in first! - Kevin Novak , Rackhouse Venture Capital 19. Ensure You're Ready For The Responsibility Running a business is stressful. Before anything else, you need to be brutally honest with yourself regarding whether you are ready for that pressure. It's not just about having ideas that you want to realize, but about having the ability to make fast decisions, handle unpredictability and keep going, even in challenging circumstances. - Valentina Drofa , Drofa Comms 20. Take That First Step Take the first step. Not the perfect one, not the final one—the first. Do so with bravery, boisterousness and a belief that it's all part of the fun. Action breeds clarity, and momentum beats perfection. Businesses don't start with certainty; they start with movement. - Paul Boross MBE , Big Sky
Associated Press
22-05-2025
- Business
- Associated Press
Deanna Sullivan Joins SuccessBooks® to Co-Author 'Phenomenal Business Success' with Howard Partridge
HOUSTON, TX, UNITED STATES, May 22, 2025 / / -- SuccessBooks® is excited to announce a collaboration with Deanna Sullivan, who will co-author in the upcoming book, 'Phenomenal Business Success,' alongside respected business coach Howard Partridge and a dynamic group of co-authors in this powerful collaboration. Slated for a Summer Release, 'Phenomenal Business Success' offers a range of perspectives and insights from various voices and experiences. Whether you're building momentum or aiming for your next big breakthrough, this book offers a compelling collection of takeaways to spark transformation and elevate your journey. About Deanna Sullivan: Whether in a boardroom or on a global stage, Deanna Sullivan has a gift for making complex topics clear, engaging, and deeply impactful. As an internationally recognized speaker, author, and trainer, Deanna has dedicated her career to transforming education into an experience that is both effective and enjoyable. Her dynamic blend of insight, humor, and inspiration empowers audiences to grow personally and professionally. A highly sought-after keynote speaker and facilitator, Deanna has led sessions around the world—in cities like Dubai, Copenhagen, Sydney, Rome, Hong Kong, Johannesburg, and many more. Her programs span both technical and leadership development, with standout topics including ethics, fraud prevention, communication, and personal effectiveness. Certified to teach ethics for Texas CPAs, Deanna has earned a reputation for making the subject refreshingly relevant and memorable—often receiving feedback like, 'The best ethics course I've ever attended.' She is also a Ziglar Legacy Trainer, DISC Certified Trainer, and part of the Maxwell Leadership Certified Team, incorporating proven principles from Zig Ziglar and John Maxwell into every session she leads. Deanna's passion for helping others extends beyond the workplace. She teaches Bible study at Second Baptist Church and volunteers as a speaker for the Houston Livestock Show and Rodeo, continuing to uplift and equip individuals at every stage of life. As founder of SullivanSolutions, Deanna draws on decades of experience in auditing, accounting, and global risk consulting to deliver custom training and consulting solutions that make a lasting impact. Learn more at: SuccessBooks® is honored to have Deanna Sullivan on board for 'Phenomenal Business Success' and eagerly anticipates the invaluable insights she will contribute to this transformative book. Stay tuned for the release of 'Phenomenal Business Success.' SuccessBooks® SuccessBooks® email us here Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Zawya
21-05-2025
- Business
- Zawya
Building a winning brand: How small businesses can stand out in a crowded market?
In a country like South Africa, where approximately 2.6 million small, micro and medium enterprises (SMMEs) are competing for the attention of the same pool of cash-strapped customers, building a memorable brand is critical for success. Without it, you risk blending into the noise and being chosen based on price alone – a race to the bottom that no business can afford. The good news is that building a winning brand isn't necessarily about big budgets or expensive ad campaigns. It's about clarity, consistency and connection. Here's how small businesses can create a standout brand in a crowded and competitive market: 1. Start with what makes you different Every successful brand is built on a clear value proposition – a compelling answer to the question: Why should a customer choose you over someone else? Maybe you offer faster turnaround times, personalised service, or a unique product range. Perhaps you have a deep understanding of your local community, or a founder story that resonates with your audience. Whatever your differentiator is, you need to clearly define it and build your brand around it. Don't try to be everything to everyone. The most powerful brands are focused, specific, and unapologetically clear about who they serve and what they stand for. 2. Be consistent across all touchpoints Your brand isn't just a pretty logo or a catchy slogan, it's the sum of every interaction a customer has with your business. That includes your website, packaging, invoices, signage, social media presence and even how your staff answer the phone. Inconsistent branding sends mixed messages. If your Instagram is slick and polished, but your shopfront is dated and cluttered, customers will question your professionalism. If your messaging changes depending on who you're speaking to, you'll come across as unfocused or unsure of yourself. Create simple brand guidelines covering your tone of voice, colour palette, fonts and messaging. Then stick to them in everything you do. 3. Tell a story that people can connect with People remember stories, not product specs. One of the biggest advantages small businesses have over large corporates is the ability to connect on a personal level, so use that to your benefit. Talk about why you started your business, the challenges you've overcome, and the values that guide your decisions. Show real people behind the brand – whether it's you, your team, or your customers. Authentic storytelling builds emotional connection, and emotional connection builds loyalty. Social media platforms are ideal for this, but so are in-person conversations, newsletters, blogs and community events. The more relatable your brand feels, the more likely customers are to get onboard. 4. Build trust through consistency and credibility Trust is the foundation of any successful brand. If customers can't rely on you to deliver what you promise, your brand won't last. This means doing the basics right: honouring deadlines, communicating clearly, and being transparent about pricing. But it also means collecting and showcasing testimonials, asking for feedback, and addressing criticism professionally. If you're just starting out and don't have a long track record, you can still build credibility by offering guarantees, being visible in your community, or aligning with reputable partners or platforms. Trust takes time to earn, but it's one of the most valuable intangible assets your business can have. 5. Be visible where your customers are You don't need to be on every platform or channel, but you do need to be present where your customers are actually spending their time. For a local services business, that might mean a Google Business profile, local radio ads or community activity sponsorships. For a retail or e-commerce brand, it might mean Instagram, TikTok, or WhatsApp. For a B2B company, it could be LinkedIn and networking events. Pick two or three relevant platforms and show up consistently. Share content that educates, entertains or solves problems. Don't forget to engage with comments and reply to messages – visibility drives familiarity, and familiarity drives preference. In a crowded marketplace, your brand is what sets you apart. And in a tough economy, it's what helps customers remember you, choose you, and recommend you. So don't just focus on selling your products or services – focus on building a brand that people want to buy from.
Forbes
19-05-2025
- Business
- Forbes
5 ChatGPT Prompts To Make A Formidable First Impression In Business
5 ChatGPT prompts to make a formidable first impression in business First impressions stick forever. Especially in business. The person you're about to meet could be your next biggest client, superfan or dream collaborator. But only if you click. Only if they think you're someone worth paying attention to. What if the right preparation could transform how others see you from the moment you meet? Come across as confident, articulate and capable. Someone who exudes success without trying too hard. ChatGPT can help. Copy, paste and edit the square brackets in ChatGPT, and keep the same chat window open so the context carries through. First impressions happen before you say a word. Your energy, posture and confidence set the tone for everything that follows. Your mental state radiates outward and people sense it instantly. Confidence is contagious but so is nervousness. Research shows adopting certain poses for just two minutes can significantly increase confidence hormones. Preparation rituals prime you for success. 'I need to make a strong first impression at [describe your upcoming business meeting, event or interaction]. Based on what you know about effective presence, create a 10-minute pre-meeting ritual that includes: 1. Three power poses I can do privately before arriving. 2. A simple breathing technique to center myself. 3. Three powerful affirmations tailored to my specific situation. 4. One visualization exercise to mentally rehearse success. Format this as a step-by-step plan I can follow just before the meeting. Ask for more detail if required.' What you wear tells a story. That story should align perfectly with how you want others to perceive you. Your appearance works as visual shorthand, communicating volumes before conversation begins. Underdressing and overdressing both send messages. Your goal is hitting the sweet spot where you look effortlessly appropriate for the context. 'I need to choose an outfit for [describe the specific business situation]. Based on what you know about appearance psychology and professional dress, help me: 1. Select the ideal color palette to convey [confidence/ approachability/ authority/ creativity]. 2. Identify the perfect balance between formal and casual for this specific context. 3. Suggest one signature accessory or element that will make me memorable. 4. List three things to absolutely avoid wearing in this situation. 5. Create a quick checklist for final appearance check before I leave. Consider the industry norms, my goals for the interaction, and psychology of first impressions. Ask for more detail if required.' Small talk is the gateway to meaningful connection. Amateurs rush through it, eager to get to "important" matters. This misses the point entirely. These opening moments establish rapport, reveal shared interests, and build the foundation for everything that follows. The right conversation starters create space for genuine connection while subtly highlighting your strengths. 'I'm attending [describe your upcoming business situation]. Based on what you know about effective business conversation starters, create: 1. Three unique opening lines that demonstrate both confidence and interest. 2. Four thoughtful questions that invite meaningful responses while subtly highlighting my expertise. 3. Three elegant ways to transition from small talk to business matters. 4. Two techniques for active listening that will make the other person feel valued. 5. Three phrases to avoid that might undermine my credibility. Tailor these to the specific context and type of person I'll be meeting. Ask for more detail if required.' Your business pitch should sound unrehearsed yet precise. Practiced but not mechanical. Like natural conversation while hitting every key point effortlessly. Even when I sold my company, the conversations that led to the deal never felt like pitches. They felt like exchanges between equals who recognized mutual value. Confidence comes from knowing exactly what you offer and why it matters. Answer questions before they're asked. 'I need to introduce myself and my business to [describe the specific person or group]. Based on what you know about effective pitches, create: 1. A 30-second personal introduction that establishes credibility without bragging. 2. A 60-second explanation of what my business does, focusing on the problem we solve. 3. One compelling statistic or fact that demonstrates our value. 4. A subtle way to address the most common objection people have: [outline the objection]. 5. A natural-sounding closing that invites further conversation without seeming pushy. Format this as conversational language that sounds unrehearsed. Ask for more detail if required.' How you leave is as important as how you arrive. The perfect exit leaves the other person wanting more of your time and attention. It signals that you value the connection while respecting everyone's time. Your departure should feel like a pause, not an ending. Memorable people know exactly when to leave the conversation. 'I need to gracefully exit conversations at [describe your business event or meeting]. Based on what you know about creating positive last impressions, provide: 1. Four elegant phrases to naturally conclude a conversation that's run its course. 2. Three ways to exchange contact information that feel natural, not forced. 3. Two techniques for setting up a clear next step if the conversation has potential. 4. Three body language cues that signal respect while disengaging. 5. One memorable final line that will make them remember our interaction positively. Make these appropriate for my industry and situation. Ask for more detail if required.' Be liked, valued and remembered when you make a great first impression. Power up your presence, dress for success, open well, organise the pitch like a pro, and leave them wanting more. Your next introduction could lead to your biggest opportunity. But only if you make the right impression. Take control of how others see you from the first moment. The results will speak for themselves. Access all my best ChatGPT personal brand prompts.
