1. Acquire Business Training
The first step to follow in your quest to becoming an industrialist is to acquire business training. Acquiring business training involves obtaining a degree in business management or any relevant course and also an MBA.
The truth is that, it becomes easier for you to succeed as an entrepreneur if you have taken your time to acquire business training before starting your business and also some business refresher courses whilst running your business. Statistics show that the reason why businesses fail is because the owners didn’t undergo any formal business training prior to starting the business. As an industrialist, you must have a robust working knowledge of the industry where you operate.
Jimoh Ibrahim read law at Obafemi Awolowo University but did his master on public administration at Harvard.
2. Draw Your Business Plan
The aim of starting a business must reflect in your business plan. If you intend starting a business that will grow so big and dominate your industry, then you must clearly state it in your business plan. Key factors like expansion strategies and growth must be critically looked into. If your goal is to become an industrialist, you are not expected to have same business plan with someone who wants to run a mom and pop business. As a matter of fact, you should engage the services of business consultants to help you write a professional business plan.
3. Be Willing to Delay Gratification
One of the characteristics of an industrialist is the ability to delay gratification. If truly you want to become an industrialist, then you should not be carried away whenever you make a big break with your small business – your focus should be on your overall goal. The rule is never to spend all your profits if you have not achieved the goal you set for yourself; you must continue to reinvest your profits back to your business until it grows so big to dominate your industry in your own sphere of influence.
4. Source for Reliable Business Partners
No doubt it will be very difficult and challenging becoming an industrialist without the help of reliable business partners. The truth is that you would need reliable, tested and trusted business partners to work with if your aim is to grow as an entrepreneur to becoming a business magnet – No one becomes a successful business man or woman without the help of others. So, ensure that you source for reliable business partners that will be willing to support your business goal and vision.
5. Be Careful of Who You Hire
The success of any organization is to a larger extent dependent on the quality of employees under its payroll. So, if your vision is to become an industrialist, then you should be very much interested on who works for you. Although some CEO in a bigger organization doesn’t really play a part in the recruitment process for their organization for want of time, but if your aim is to become an industrialist, then you must create time to be part of the recruitment process of your organization.
6. Set a Goal and Always Revisit the Goal
Before dreaming of becoming an industrialist, you must have seen or heard of great industrialist in our world; industrialists like Henry Ford, Andrew Carnegie, Richard Branson and Aliko Dangote, et al. All these people didn’t just become great industrialists overnight; they set goals and work towards achieving the goals.
So also, if your dream is to become an industrialist, then you must set goals in that line. It is one thing to set goal, it is entirely another thing to work towards achieving the goal. Don’t just stop at setting goal, you must revisit your goal from time to time to evaluate your performance and get refocused.
7. Stay Motivated
There are numerous challenges within the business world; some will be within your control and some other totally out of your control. The truth is that you can’t control the global economy, but you can position your business not to be greatly affected by economic recession. As a result, in order to become an industrialist, you must be willing to stay motivated because at different stages of your business growth, you will be confronted with challenges.
Over and above, these are the business success secrets of the richest industrialist billionaires in the world. Becoming an industrialist is all about producing quality goods and services that will be generally accepted by a larger chunk of the existing market. If you want to replicate their success in any industry / niche, all you have to do is simply put these success formulas to work and I will see you at the top.
Source: mytopbusinessideas dot com
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