Business executive Stephen Odzer recently discussed his top tips on building a successful business.
Building a business from the ground up is a task few people are willing to attempt. That’s because building a business is time-consuming, exhausting, and risky. However, business executive Stephen Odzer of Woodmere, NY says that it can be especially rewarding and profitable if you do it right. He recently offered his top tips for building a successful business.
“The first step is to truly believe in your business,” Stephen Odzer said. “You can’t start a successful business with an idea you’re not 100 percent passionate about.”
Odzer explained that believing in the concept of your business and continuing to stay passionate is what will get you through the inevitable setbacks you’ll experience on the way to building success. Similarly, Odzer explained that you need to establish your business as different from everyone else’s. It can’t just be a tiny bit different; it needs to be radically superior to the competition. He added that your business will have a much smaller chance at success if it’s a copy of another that already exists.
“Organization is a major key to business success,” Stephen Odzer of Woodmere, NY said. “There is no way to be successful without being organized.”
Odzer suggested marking everything you need to do each day on a calendar or in a planner. Check off items as you go. This is a hands-on way of ensuring every required task is completed by the end of the day. It will also help you stay motivated, as there is a sense of accomplishment with every chark mark you make.
Steven Odzer added that understanding risk is an important part of starting a successful business. You need to understand the worst-case scenario, so you can work to avoid it. Odzer added that understanding risks means choosing the timing of opening your business wisely. He stated that starting a restaurant during the pandemic will provide more challenges than nearly any other time while starting a business selling sanitation supplies could thrive. Understanding risks also means making the right choices to minimize them.
“You need to be willing to sacrifice other parts of your life for the success of your business,” Stephen Odzer of Woodmere, NY said. “This doesn’t mean ignoring your family, but it may mean spending less time with friends while you get your business off the ground and running toward success.”
Stephen Odzer finished by stating the importance of prioritizing. If your business and your family are the most important parts of your life right now, you may have to sacrifice extracurricular activities to reach success. Many times, the lead-up to opening your business can be the most demanding.
“Roughly 25 percent of new businesses survive 15 years or more,” Odzer said. “Reaching such success means organization, sacrifice, and a lot of hard work.”