Business Success Hinges on Internal Resources

Business Success Hinges on Internal Resources

Business success may hinge on a range of factors and variables, including strategic planning, long term vision, capital investment, human resources and marketing, according to experts and established conventions.

While we have observed some businesses flourishing even during the lowest point of the great recession, a majority struggle even when it’s supposedly boom time. So, is there really a secret to achieving success in business?

Productivity Success Coach & International Best Selling Author, Virin Gomber, says, “Yes, these are all essential ingredients to ensure the business is successful in accomplishing what it starts out to achieve. However, there’s an invisible factor that drives all these variables to either success or failure.”

“It’s the ‘mindset’ of the people operating the business.”

New Zealand’s first Small Business Sector Report 2014*, provided by MBIE, suggested that SMEs make up about 97 per cent of businesses. It added that Kiwi SMEs saw more "births than deaths over the past decade". Also, enterprises with fewer than 20 employees have lower "survival rates" than larger firms. Roughly a quarter of them "died" within three years from 2010.

Can you see a trend here? It’s amply clear that it’s quite easy to start a business, but quite a challenge to sustain it and even a bigger challenge to grow profitably.

“So what stops a business to become and stay financially profitable after it starts operating enthusiastically? Obviously, it’s nothing to do with the available external resources. It’s about the internal resources that the business and business owners choose to utilise,” Virin notes.

He says a SWOT analysis is a good starting point for any business, but the same applies to the business owner(s) themselves.

“Remember that any business is run by individuals who bring in their personal strengths and weaknesses into the equation. If owners of a business have their mindset gripped in fears, doubts, low confidence, lack of commitment, poor foresight and shrivelled creativity, you don’t need to be a rocket scientist to forecast how well it will thrive,” he points out.

As part of his advice to Kiwi businesses, he says, “A business owner not only needs to identify their personal mindset strengths and weaknesses, but also focus on a process of addressing their weaknesses strategically to ensure all the efforts working on their business have positive outcomes. This crucial exercise can result in long term benefits for them and propel their business toward steady and sustainable success.”

Virin Gomber offers 'Total Focus' workshop designed to treat businesses to an experience of a quantum improvement in productivity. The robust skills from this workshop empower participants to achieve big breakthroughs and become top achievers in their field.

Next upcoming Total Focus workshop:
http://www.mindfulsolutions.co.nz/events-workshops/

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