how to run a successful business

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Image by SparrowsHome from Pixabay

Welcome back once again to the Wise Entrepreneur’s blog. A big hug to all our fans, and a warm welcome to all those that are new to this blog.

It has been approximately two years of silence due to unavoidable circumstances, and please kindly accept our apologies for this gap in activities. Certainly, this blog still has the mission to develop successful entrepreneurs globally, and we will proceed from where we stopped.

Now let’s consider today’s subject, which is the law of cause and effect. This law states that there is a cause for everything that happens. This law is sometimes referred to as the iron law of the universe. For every effect in our lives or business there is a cause to it. It is important for you as an entrepreneur to understand that everything you do has a directionally related reaction. Don’t you think this is true? Let me illustrate my points with the below!

  1. Both success and failure in business are largely predictable and oftentimes they leave trails. As an entrepreneur you need to appreciate that both success and failure are predictable to a large extent. Don’t be deceived; there is nothing for nothing. Forget about myths people tell you about good and bad luck, industry decline etc. Even enterprises facing industry challenges could reinvent themselves and steer on. You can determine your success or the opposite of it in business if you like. Don’t you believe in this?
  1. An entrepreneur should continue iterating his/her actions towards successful steps. The law of cause and effect also means that an entrepreneur must continue to iterate his actions in business. I use the word iterate because there may not be a clear way to straight success in business. Every business goes through learning curves at different stages and over time, because both the internal and external business environments keep changing over time. The global business world could be volatile, uncertain, complex and ambiguous (VUCA), Even the most successful companies you see today did many iterations and possibly reinventions in their steps. Are you following me?  
  1. Cultivate an awareness of choices This law of cause and effect also demands that we make our choices with wisdom. An entrepreneur must cultivate an awareness of choices to be successful in business. Plainly speaking, stupid choices mean stupid mistakes in business, and these could be costly. Likewise, wise choices mean success and progress in business. If you are an entrepreneur working with many staffs in your business, you also need to ensure that you inculcate this principle in your staffs.
  1. Thoughts are things, and your beliefs determine your success. As an entrepreneur, you should also know that thoughts are things, and your success depends on your belief systems. There is no doubt here! If you appreciate the law of cause and effect you will certainly ensure that your belief systems support what you expect in your business. Not so? Don’t be the whining type of entrepreneur who complains year in and year out about imaginary business or economic problems. When your mind concentrates around the bad things you will certainly have quite a bit of that. This is the law of attraction.  
  1. You can influence the future. You still have arrows not yet released from the bow. Please understand that you can influence the future of your business, by putting emphasis on the causes now since the current causes will result in effects in the future. When you see a business failing simply understand that many things went wrong way back. People don’t easily accept mistakes, but that is the reality. The graveyard of extinct businesses has lots of bad stories you can learn from. Be wise and smart, unless you want to pay the same price the extinct businesses paid. Am I clear?  
  1. Determine that your causes or actions ensure a chain reaction of positive things always. Every business is a result of chain reaction of things over time. Results are cumulative and incremental. The spectacular results you see some of your competitors achieving now are reactions from causes or efforts put some years back, or probably decades back. This is long term focus. I can assume that you are a serious entrepreneur hence operating strategically in the long term; not just following some hit and run deals. These chain reactions all arise from actions or causes. So, what chain reactions are you triggering on a daily basis Mr. Entrepreneur? Come on! You can only ignore these chain reactions at your own peril.  
  1. Any adverse business situation can be changed by altering your perspective and actions. I don’t care what your business situation is, because the reality is that any bad or even terrible business situation can be changed. History is full of successful businesses that had very rough times in the past, yet today they are big successes. Sometimes you need to pivot, reinvent, retool, restructure, etc. This needs the kind of leadership that will stand on a hill and tell everybody that the team is in the wrong jungle and there is need for change. This is not going to stop with other people; you can also be successful. Do you understand?

As I conclude, let me emphasize that there is nothing you can do without something coming out of it. Every good action brings you closer to your goal, and every bad action takes you further away from your goals. It is really your choice. All actions have reactions that will return to its source. There is an original starting point for everything. This is the law of cause and effect.

Additionally, massive causes or actions mean massive results. You can only imagine what happens when you have done massive wrong actions! Candidly, I don’t need to be there, but you can invite me for a party when you have done massive right actions. Or else, I will only come over to talk about how to address the massive wrong actions if you are willing and ready to listen.

Cheers, and till then,

The Wise Entrepreneur

 

May 1, 2021

7 Lessons for an entrepreneur from the law of cause and effect.

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