Type of Knowledge you need to be successful in doing business.

[EMMANUEL]

This is your last story.
Upgrade for unlimited access
or login now.
STARTUP LIFE
10 Things You Must Do to Be Successful in Business (and in Life)Here are stories from several successful entrepreneurs who live a successful life as well.
BY JOHN RAMPTON
@JOHNRAMPTON
10 Things You Must Do to Be Successful in Business (and in Life)
Getty Images
There have been thousands of books written about what it takes to be successful in business, and a thousand more about achieving success in life as well. You can find another thousand articles on the web that discuss the topic, and a thousand more will be written tomorrow. With such a broad subject and with so many things that can play a role in making us happy, it can be difficult to boil it down to a short list of things that anyone can read and apply in their lives.

However, across those thousands of books and articles, among the countless legends and stories, you'll find some common themes woven throughout. You'll find principles about us as human beings that many of us think about but never try hard enough to achieve. You'll hear about ideals and decisions that we all wish we could aspire to but often fail to understand. Here are ten of those things you'll find among the tales of those who achieved success in business (and in life) - which ones do you currently have and which do you need to obtain?


Be Fearless
Want to know why becoming successful in a business venture is considered such a daunting feat by society? While there are obvious hurdles to face, one of the biggest challenges is in overcoming the fear of jumping into a business in the first place. Most people dream all day about launching a successful business while watching the clock tick at their mundane day jobs. The reason they never quit the security of a paycheck is because they are too scared by the unknown that comes with starting a business. If you want to separate yourself from that crowd, you need to learn how to manage your own fears. Don't worry, you're not alone. When I quit my job to start my business, I was making double my salary outside my day job than I was inside working my eight hour job. I still had that huge fear of failure.
However, this is only the beginning of the road for those who want to be truly successful in business. Overcoming your fears and getting started is noble, but the true tests of a fearless entrepreneur will be constant, from initiating a conversation at a networking mixer, asking for the sale on a major deal, severing ties with a partner who is causing harm to the venture, and perhaps the most frightening of all situations - watching a business fail (it happened to Henry Ford twice before he designed his famous assembly line!) One who can fail miserably and not be scared to dust themselves off and try again and again until they are successful is truly fearless.

 

[Blue house]

For a business to be successful from scratch to big, you need to be financially knowledgeable, and all business has their rules you have to follow so you dont crash the business too Early, and whenever you are making loss do not be controlled by your emotions.

 

[Khezo]

You have to have all the basic knowledge of the business to succeed which would be the best thing to do. You have to know how to manage and spend this is very important. Reckless spending would take the business no where.

 

[Seyesystem]

As we know knowledge is power and in every thing you do in life you must have the knowledge, when it comes to business there are certain knowledge a business owner must have possess. He must be knowledgeable of the entire business that he is starting and acquired more knowledge on business generally.

 

[Samuel77]

According to my own point of view, the type of knowledge you need to be successful in doing business is, first you must be. Creative and innovative, this will make you wiser than your competitor. when you are creative , you product will always be trending and you will be more successful

 

[WhiteHouse]

The Ability to Identify and Solve Problems; This is a basic range of abilities to have, and is a fundamental key part to setting up a solid income for any business. The more intricate the issue and arrangement the more beneficial its latent capacity. Business people bring in cash perceiving issues and giving an answer.

 

[Bookwormlux1]

The best form of knowledge that would enable you succeed in any business is that which comes from an experienced person. You get to learn from his wins and losses, this would help you avoid some mistakes that may be common in the business.

 

[Tmanroyal]

Business owners and entrepreneur should posses this kind of skills as these are the skills needed for maximum productivity, one is problem solving skills, human and non human managerial skills, good communication skills and many more

 

[ranaabubakar263]

If you want to be a successful businessman you have to all kinds of knowledge about this business so that you can grow as much as you can. How to work on it You should not have a maximum period to think about it.works well and your business gets well.

 

[Kiwi]

For a successful business discipline, hardworking and adorable commitment is very required, it is important that you know the numbers well. This knowledge can go a lone way on ho to start and run a business. If anyone start business without any knowledge, planning or aim he will not become successful and there are high chances of losses.

 

[Presido]

There is a saying that knowledge is power. The knowledge one has to know about business is the terms and conditions guiding the business.The knowledge that also needs to be known about business is the privacy and policy of the business.

 

[Abigael]

There are four types of knowledge:
book knowledge, reading what people wrote down;
market knowledge, learning the competitive market inside;
business knowledge, how to design enterprise and execute;
building and selling experience.
What type of knowledge do you think you need to be successful in doing business?

These types of knowledges are really important in life and are all essential for a business person. To add on that, business person also needs to have good communication and personal relationship skills. This will enable them to stay well with customers, clients and suppliers.

 

[Godleads1]

A major knowledge you need to have is the knowledge of the market and the final consumer. What type of market are you going into and with what type of goods or services. What are the likely behaviours of the consumers.

 

[Shivay]

To get a business successful, you need every type of knowledge.
Being a businessman, you have to analyse the market, fundamental analysis, basic analysis, taking care of current prices of goods in the market. Salute to all the businessmans. It is really a tough job .

 

[Tariq Shehzad]

There are four types of knowledge:
book knowledge, reading what people wrote down;
market knowledge, learning the competitive market inside;
business knowledge, how to design enterprise and execute;
building and selling experience.
What type of knowledge do you think you need to be successful in doing business?

You are saying very that these four knowledges are much important regarding the business. Some of these two are much important the marketing trend and competition among the markets. The business should be doing by keeping in mind all the things.

 

[Ifective]

You need your own knowledge acquired for the business purpose that is business related knowledge
You need knowledge from experienced people. That is people that have started the business before you. This is so to enable you gain ways in which your own business will be carried out
Also legal knowledge is required in order to understand some laws in business to avoid debt or trouble from the government.
[automerge]1611415718[/automerge]
You need your own knowledge acquired for the business purpose that is business related knowledge
You need knowledge from experienced people. That is people that have started the business before you. This is so to enable you gain ways in which your own business will be carried out
Also legal knowledge is required in order to understand some laws in business to avoid debt or trouble from the government.

 

[Nicklas22]

Communication and negotiation you will need to communicate and negotiate with your suppliers, potential investors, customers and employees. Having effective written and verbal communication skills will help you to build good working relationships. Every communication should reflect the image you are trying to project.

 

[shakky2]

the type of knowledge to be used for the successfulness of a business is residual knowledge.also learning customer relationship will be an edge.one has to be vibrant and wise in thinking and also have a responsive mindset

 

[iamgroot]

With a great strategy added, either of the four knowledge you said will be effective. Doing business without strategy is useless. It is like your puting your money for nothing. Your main objective is to have a successful business,so learn how to strategize.

 

[maventiger]

@shakky2 that is the reason companies have a department to handle that. The customers relation and sales department works hand in hand to ensure they engineered the company's brand to it customers and as well gather enough feedback to improve the brand.