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Five Lessons Everyone In Business Needs To Learn

– Contributed content –

Lecture room

(Pexels.com)

17 August 2017. Being successful in business requires one skill above all others: the ability to learn. That is how to keep moving forward. It doesn’t matter if you do your research ahead of time to prevent yourself from making a mistake, or whether you learn the hard way and bounce back from that. So long as you keep learning, you’ll stand yourself in good stead.

Of course, learning from other people’s lessons is a great way to move forward too, which is why we have come up with a list of business lessons you should make note of as early as possible and remember from now until the day you retire.

You can’t go it alone

There is not a person on the planet that can run a business alone (or a country for that matter, Mr. Trump). That is what makes building a solid team so essential when it comes to securing success. Exactly how far you can go it alone will depend on you, your experience and your other obligations, but the end game should be to create a team that can continue even when you are not there.

User feedback is key

Your judgment is clouded. It is biased. That’s why you need to ignore what your head and heart are saying and listen to the feedback of your clients, customers, and users more closely. Basically, what we are saying is, you won’t know how great or how bad your product is until it has been released to the market. So release early and release often, and then listen to what the consumer is saying and then make the tweaks they recommend.

Outsourcing is not a bad word

Outsourcing has become more beneficial than ever, especially for smaller companies. Yes, the big boys in your industry may be able to do it all in-house, but you can’t, so why bother trying. Whether it be outsourcing entire areas of your business, like telecommunications services or IT support, or just certain tasks, such as graphic design or copywriting, the benefits are impossible to ignore. Cheaper, less risky, better quality and delivered faster.

Cheap is not sustainable

You can’t be the cheapest. You need to realize that. In this day and age where the internet is so epic, a quick Google search will find someone – somewhere – that is cheaper. That is a fact. So instead of harming your business that way, start focusing on how you can compete on quality and expertise. After all, people want good value not cheap as chips. It’s why we all read an average of five reviews and look at three different products before clicking the buy now button.

People leave managers

The cost of high-employee turnover can be an absolute business killer, which is why you need to know just how to keep your employees happy. On that note, it is worth knowing that over 80% of employees don’t leave a business because of the work; they leave because of the management. People want to feel important, valued and listened too, so if you aren’t allowing this then you will start to see people leave. Not good financially.

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