The annual New York City DealBook business conference held last week included an illuminating session involving input from established entrepreneurs regarding commercial challenges and success. The New York Times posed a number of relevant questions to proven business players, soliciting their responses concerning the mindset and attendant strategies necessary to breed sustained company success. Following are a few of the essentially gleaned points.
Identify and follow your strengths
Although that above tip seems so obvious as to almost be a truism, it is surprising how many would-be business success stories are truncated by principals who fail to recognize and act upon their most powerful personal attributes. If you’re a shrewd gatherer of talent, gather. If sales is your forte, sell. In doing so, surround yourself with a creative talent pool that can optimally drive the business in supporting ways.
Contemplate the future in a robust way
Put another way, as did the CEO of one company: “Think impossibly big” and even “feel embarrassed by the size of your vision.” Your envisioned success will help drive the strategies to fuel its realization.
Learn from – don’t give into – initial failures
That seems obvious enough, right? If you err early on, educate yourself as to why and use the downsides as learning vehicles promoting future successes.
Surround yourself with a creative and contributing team
Many of the DealBook respondents especially emphasized this point, noting that business complexities require collaborative effort and input from diverse sources that can centrally contribute to success.
We certainly know that to be true at the established New York City business law firm of Rich Michaelson Magaliff, LLP. Our attorneys are all proven business managers who routinely provide knowledgeable and impassioned representation to valued business clients.
Commercial prospects entail both challenges and material opportunities. We welcome contacts to our firm to discuss the diligent and tailored legal representation that our experienced legal team provides for both entrepreneurs and seasoned business principals.