Expert Speaks

10 Unforgettable Business Lessons 2018 taught me

By December 31, 2018 No Comments

While the countdown to 2019 has begun, I pen down 10 most important business lessons that 2018 taught me. Would you like to read?

With some good and bad moments, some highs and lows, this year has undoubtedly taught each one of us something we’d not be able to forget in this lifetime. But whatever the lessons were, what is important is to focus on the learnings which can help us grow in the upcoming year

So here are my top 10 lessons to remember for 2019:

  1. When we do business, we keep our goals in mind. I need to make so much money in so many days and so on. And this is precisely why a majority of leads don’t turn into clients because we keep our needs at the top. Lesson: The client needs to feel important and thus his needs have to be given importance. Look for what they need, offer that and you’re good.

  2. There is never one way of doing things. Besides, different people have different tastes and preferences. In such a scenario if one is too attached to his thoughts and ideas, he would only be limiting his options to succeed. Ask yourself, what’s stopping me from going ahead in life? Is it a thought pattern, work pattern? Have I put myself in a box? If yes, is it time to break through it?

  3. We can’t be good at everything and that’s what most companies fail to admit. In order to become the one-stop shop for everything (which is honestly very good from the client’s perspective), you do too much and focus on nothing. This leads to some services being great and some bad, sometimes even below average. Isn’t it better to focus on our strengths instead? Let’s do one thing and excel at it and once that’s done, then we can diversify into something else instead of starting everything at once and then collapsing like a house of cards. Think and then create.

  4. Following from the previous point, stopping a few times in your journey to look back and analyse what’s not working is a good idea. A post-mortem is difficult but, trust me, it is what will bring the real change in the future. Don’t let things be. If something can be made better, why not? What’s stopping you from getting that extra market share? Is the problem inside or outside? Can I do something about it? If yes, then why not?

  5. Commonly heard but seldom followed, right? So when a new project comes your way, how many of you take it up because you know that it truly has potential as opposed to being another project through which you can make a few extra dollars? I have the latter a lot in the past but every time I have done so, the project hasn’t been successful. Why? Because I didn’t believe it could in the first place. And that is what is important. Do what you like and money will come. People love to pay for excellent things and if you are passionate about what you’re doing, you’ll be contagious. Don’t do something you don’t feel like doing because money comes and goes, reputation doesn’t.

  6. Again, if you truly believe in something, never stop trying. People will come and go, clients will come and go…what will remain is your dream, your aspiration and your ideas. Work on those and don’t give up. If the time isn’t right, wait for the time to mature and then act on your dreams. Be practical but don’t be a coward.

  7. One of my favourite lessons. Now informing your clients is one thing but telling them that your product is an absolute necessity is important because unless the client understands that he cannot do better without using your product, he will not buy it. Gone are the days when people would experiment. In a tight and service-oriented market, people have less cash to spend on ‘interesting’ or ‘good’ products. If your product is not what the client would absolutely need, change your product or change your client.

  8. Why do all answers have to be with others? Why do we seek all answers outside? Some of the most complicated problems have a very simple solution – look within and you’ll find the answer. If your business is not working, ask yourself what’s not working for you first before opening to others to criticise you and tell you what you’re lacking at. There is no better critque than the self and no one else can actually instigate change apart from yourself.

  9. Failure is a part of life and everyone goes through it. Accepting failure with grace, however, is what sets you apart from the rest. Success comes from experience and experience comes from bad experiences. Let yourself grow through every experience and keep learning from every mistake.

  10. Isn’t that correct? How many people do you know about who know nothing about you? Many actually. So don’t underestimate the power of having a digital presence in today’s world. You might save on a few dollars by compromising on a website and having a facebook page instead but that wouldn’t make you credible. Clients like to see a website, active social media pages, upto-date content and more. Invest yourself in improving your digital presence and it will definitely reap you more benefits than you would have imagined.