7 Tips To Build A Successful And Long-Lasting Business

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To build a business that can truly stand the test of time, there are a few key factors that you need to get right.

This change is a simple swap of one word – instead of calling something a problem, it’s a challenge. While this may not seem like much, ‘challenge’ has a more positive connotation than ‘problem’ does. A problem feels like a stumbling block, a challenge feels like something you want to overcome. The way you frame something influences the way you look at it, and can have a significant impact on its outcome.One of the most important lessons for business owners to learn is how to spend wisely.

There’s also nothing wrong with wanting money. The more money you have, the more you can do with it – you can help others by donating to charity, and you can invest that money back into your business. Penny initially felt bad that part of his vision for success meant making a lot of money, but wise words from his mentor changed the way he viewed that goal. His mentor put it simply, “You can still be a good person and want money.

It’s easy to get ahead of yourself, but just remember that every billionaire was a millionaire first, and before that, they had their first six figure year. Take the time to build a solid foundation for your business so that you’re ready to handle the growth and expansion when it happens. “You have to be that person that's willing to get your hands dirty,” says Penney, who’s once taken his own advice quite literally.

I’ll leave you with one last piece of advice from Penney: “Learn to be patient - it's a virtue. Nothing is going to happen in a day. If someone tells you it is, go to the next person. And don’t forget the three Rs – resist, resist, resist!"

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