Skills That Every Successful Business Owners Needs

Why are some conventional business owners making so much money? Have you ever wondered what the key to a successful business is? The answer is you! I know this because I used to be you. I worked in the radio industry for 13 years. It’s big business, generating millions of dollars a year. But radio tycoons and big business owners are no longer the only ones raking in huge salaries. There are billions being made by individuals operating their own home-based businesses. The elements and execution needed to be successful in these life-changing home enterprises are similar to those used to keep the wheels of industry turning. I’ve taken the skills and knowledge I gained working hard for someone else and now use them to build my own home-based business. Here are some of the elements you’ve probably been practicing for years that will help you succeed.

Communication with your team is extremely important. By putting a simple, duplicatible business plan in place everyone can be on the same page. It’s much like a programming philosophy in the radio business. Without a solid system, things tend to disintegrate…and fast. Regular meetings, conference calls, emails or any other sort of communication promotes a team feeling and gives everyone the opportunity to contribute.

Finding the right people for your team is much like finding on-air personalities that make your day-parts come to life. You want people that can put the business plan into practice. Leaders that understand the work involved and are willing to roll up their sleeves and get things done. Your team members need to be guided, not micro-managed. Using the 80-20 rule is strongly recommended. 80% of your success will come from 20% of your team. You will need to identify those leaders and give them the majority of your time. Work with the best and guide the rest.

A pivotal portion of any business is integrity. No business can last down the stretch without it. I’ve surrounded myself with people I believe in and who believe in me. Integrity is used when dealing with my leaders, members of my team, prospects and everyone I come in contact with. I cannot work with anyone who lacks it in his or her character or business ethics. Our members make a commitment to our team and to their own success. That commitment builds trust, respect and a strong foundation for a profitable, professional business.

Finally, one of the most important tools in the new home-based business owner’s case is research. As a program director, music and perceptual research provide important information about your market and the target demographic you’re trying to reach. When looking for the right home-based business it’s essential to examine the compensation plan, critique the business plan and ask the right questions. So before you invest a penny in your home-based business, do your homework and make sure it is the right fit for you and your family.

Transferring the skills and knowledge I learned from 13 years in the radio industry into my own home-based business was the best thing I’ve ever done. It was also the simplest. I’m now heading down the road to my financial freedom. Consider the skill set that you’d bring to your boardroom table (your kitchen table in most cases) if you were the CEO of your own company. Odds are you’ve already got the skills and you’ve been using them for years to make somebody else rich. It’s time to put them to use operating your own home-based business and living the life of your dreams.

Make it a great day!

Kenny Jones