Success in Business: Like It or Not, it’s all about Money!

As a business growth strategist which has advised thousands of businesses over the last 20 years, I am fascinated at what drives people to success in business. I was so fascinated that I began to make a list. A few years ago, I read a book by Brendan Nichols which stated a similar list as mine, but his list was more refined so I now use his. I call the list ‘Things That Make Us Believe We Are Successful’ and I use this often in Strategy Planning Days to work out what makes my clients tick.

What makes us believe we are successful?

Well, I think there are about 12 main ones and I have listed 11 of the 12 below:

1. Building an Empire - if you do this you think you are successful

2. Contribute to Society or Other People – i.e help them and assist in bettering other people’s lives

3. Creating new products or services

4. Becoming famous – e.g being in the newspaper or on television

5. Achieving something

6. Knowing that you have done a good job

7. Being very busy – if you are, then you think you are successful

8. Receiving Praise – from other people

9. Pursuit of excellence – always trying to improve

10. Being recognised – similar to Praise

11. Beating the competition

At this point, I ask my clients to list their top 3 from the above or to add any other item they can think of which is not on the list.

So what would your top 3 list look like? Write it down now.

About 80% of my clients who are successful entrepreneurs will choose from the above list. Of the remainder 5% will have their own very specific success driver and the remaining 15% will add the words ‘Make Money.’

"Make Money"

The reality is that if your top 3 does not include ‘Make Money’ then the chances are you will not make any money because you do not believe you are successful if you make money.

I know that sounds insane but that is what may happen. But the whole point about being in business is to make money. Once you start making money, then it shows that you are enjoying success in business.

It happened to me a number of years ago. I went through a phase where I started concentrating on other things and money become less important. Guess what? My business was seen as being successful but my income went down. Now it is back in my top three and I am making money again. I know this works from experience.

The good news is that you can change your list at any time. So start concentrating on the money and watch it roll in!

 


Hitesh Mohanlal

Hitesh Mohanlal

Director at WOW! Advisors & Business Accountants

I am known as Australia’s Number 1 Business Growth Strategist (profit increase and owner lifestyle improvement specialty), and have been recognised on CNN, Fox, NBC, CBS and ABC. I am also a Chartered Accountant in the UK and Australia and have been practicing for the last 22 years. I run three businesses. I have worked with over 3,500 businesses in Australia, America, UK, Japan and Europe. I work with small to medium enterprises to improve their profits by up to a staggering 2000%


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