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In a recent fortune rating, Zhong Shanshan overtook Jack Ma the founder of Alibaba to become China's richest man according to Bloomberg Assessment. He is currently worth USD 68.9b . The news however,is not that he toppled Jack Ma , what is, is that he is not into tech like others who dominated the richest man list for many years now, Zhong surprisingly is into bottled water. Although he has business interest in vaccines as well, Zhong is generally described as the bottled water king.
Here is the deal:
Have you ever felt like the current business you love and have may not be good enough to fetch you a life changing income? If your answer is yes,you are not alone. Actually,many people do. However, Zhong's success has proved two things: first,a small business managed with a big imagination produces big results. Secondly, the capacity of any business to produce big money rests on the owner, not the business. In other words , if the money from any business remains small,the business is not the problem,the owner probably is.When we see someone being successful in a particular industry, we often disregard their entrepreneurial capacity, and think it is the industry they are in! So many rush to it, only to be disappointed.
To this end, unless you are certain your skill set doesn't match the demands of your current business, find the courage to stay on it but this time change your approach. Determine to give it more grit and smarts.
Actually, a small business fortune is determined by four key things : the leader, her people, strategy and finances.
No matter how sound and compelling a business idea is without people it will never materialize into a business. The people make the business and not the other way round. With this in mind, how much rigor goes into your recruitment process ? Do you insist on having the best hands? Do you have a sustainable arrangement that keeps them committed to giving their best? Are you committed to keeping them happy and at their best form ? There is no organization that grows beyond the quality and dedication of her people.
Everything rises and falls on leadership, says John Maxwell- a global leadership expert. The leader by positioning is the first and most important man of the organization. He is the key driver of the business success. Consider these questions: How committed are you about personal development? Are you the right leader for where you want your business to be? Do you seek and make sacrifices to become better at what you do and your capacity to provide the right kind of leadership? How you respond to those questions is what shapes the future of your business fortune. More so,the execution of a business's strategic objective requires discipline, and it is the responsibility of the leader to promote processes that keep a team focused on the prize.
The strategy of a business is critical to its health and growth. A business without strategy is merely throwing a game of dice and hoping to become lucky. Strategy is simply "a clear cut plan on how you want to compete". Do you have what can be considered as an ambitious business goal ? Is your business goal broken down into a clear, detailed and actionable plan or roadmap? How clear and organized are you about the outcome you desire and the chain of activities that will produce them ? Are you certain about the people that will execute them? Do you value process over outcome? Do you evaluate and adjust your strategy to reflect current realities?
Money is the center of gravity for any business. Without funds a lot of things become impossible. As it were, the business manager ensures the effectiveness of money. The accountant is dedicated to the efficiency of money. But the leader determines the direction of money. Resource allocation is a critical function of a leader and he must excel at it for the business to grow exponentially. Are you clear about the new growth opportunities that exist and how you can take advantage of it? How much should be allocated towards it to get the maximum returns? Can you access risks and opportunities to identify red flags?
To get the desired cash flow, you have to intentionally seek and commit to excellence in the above mentioned key areas and watch the numbers turn in your favor and you will realize that the business you already have may actually be the way to the "big dollar bags" you seek. What is left is your passionate dedication and some show of smarts.
Here is to your success.
