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Walking into a bookstore or doing a quick online search will net you thousands of opinions and ideas.
Good advice from successful individuals with years of experience can sometimes get lost in the flood of information.
Here are five of his top tips for running a successful business.
Also seewhy Sethi says its the big wins that matter when youre building wealth.
When running a business, its crucial to determine what success means to you.
You wont be able to map out a path to achieve it until you know exactly what it is.
Sethi said many people start businesses because they want some sort of freedom.
This may be the freedom to work your own hours or buy a bigger house.
Sethi explained that being able to run a business the way he wanted to was his idea of success.
Youll need to plan and consider where your money will give your business every advantage to grow.
This careful approach to running a business makes sense in the beginning.
Sethi explained that the more success you have as a business owner, the more money you will waste.
An example that Sethi provided is paying for public relations (PR).
Businesses often measure money put into PR through media placements andsocial media metrics.
Determining how much profit comes from investing in PR may be challenging.
Changing your perspective on money as your business expands is vital.
Say No
When Sethi started his business in his 20s, he said yes to almost everything.
In the beginning, its hard to say no without feeling like youre passing up an opportunity.
Outside of business, people often feel uncomfortable saying the word.
Many say yes to avoid confrontation, be included or hey others.
Leaders who learn to say no earlier in their careers will save themselves a lot of time.
However, it may cause you to overburden yourself or take your focus away frommore important business matters.
Sethi asked himself a counterintuitive question: What do I want to do less?
The usual mindset is to do more and work harder.
Learning how to stop doing something can make you more effective.
Dont Be Afraid To Make Mistakes
While it may sound obvious, every business owner makes mistakes.
Sethi has made his share of mistakes and used them as learning opportunities.
One specific example was a time when he decided to discontinue a program.
After some reflection, Sethi realized his mistake, apologized and continued the program to keep his promise.
Mistakes are opportunities to learn and grow.
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