Business Isn't Complicated, We Complicate It! Business is not for income generation. If you want to generate a decent income, then get a job. Business is for wealth creation
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Most small and medium business owners survive in their business rather than thriving in it. Most entrepreneurs reach a stage where their only objective is to make a decent income from their business, such that it is good enough to sustain a decent lifestyle. For me, this is a big NO. When an entrepreneur starts treating the business to support a decent standard of living for themselves, then one can know for sure that this person is getting the game completely wrong.
How to create Wealth?
To create wealth, an entrepreneur has to first achieve stability for the business, then build a leadership team which can take the stable business model to the level of success, and from there define a pathway to scale the business. But unfortunately, most business owners shut down their business because of the struggles it entails to stabilise it or end up merely surviving with great efforts, or stagnate at the stability stage of their business. Now whatever stage your business is at, be it a struggle, survival or stability, understand that taking your business to Success and Scale is not a matter of chance or luck.
Business isn't complicated. Luck and Chance is a lie. Scaling a business and making it successful is Science. Yes, business is a science and it isn't complicated unless the entrepreneur complicates things by not doing what is required to build a successful business.
The Science of Creating a Business Model
There is a science to creating a profitable and scalable business model; to targeting the right customer base and attracting them with the right marketing strategies. Even building a sales team to scale up your sales is also a science, as is optimising your operations and managing time, cost and quality in your business. Be it creating products and services with the support of your R&D team, which will be accepted by the market, or creating a high-performance culture, and even attracting the right talent, it is all science.
NO SCIENCE = NO SENSE in your business and unfortunately most business owners do not learn the sciences, do their business in their own haphazard way and expect success… and this doesn't work. The key is to understand the theory that business is science and commit yourself to learn the sciences and operate your business on proven strategies and systems rather than just go with the flow and use your personal intelligence…
It's Always the Scientific Method That You Follow
The brands that are big and businesses that are scalable have actually made it big not because the entrepreneur was the most intelligent person… but because they used scientific tools in every function of the business.
Small and medium businesses remain small because of one reason - the business relies on the intelligence of the entrepreneur… The best advice that can be given to you if you are an entrepreneur is ,"if your business is running on your intelligence, at best you can make some money, but you can never build a scalable, profitable business or a brand known to all".
Remember business isn't complicated. All you need is to open your eyes to the fact that business is a science and we need to learn and integrate the sciences of business to be truly successful. NO SCIENCE = NO SENSE.
