You are in an exciting and liberating place if you own your own business. However, you will have to make some big changes. No longer will you have a consistent salary, regular working hours, and other benefits. For people like Charles Phillips, Infor CEO, it is about getting your affairs to succeed in a new enterprise. There is no secret formula for this because, if there were, everybody would be doing it. But there are a few key things to achieve business success. Charles Phillips has been kind enough to share some of those key things.

10 Tips to Business Success According to Charles Phillips

1. Have a positive outlook on life and success. If you have started a new business, you must have believed you could do this. It would help if you kept that belief and maintained a positive outlook.

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2. If you have passion, you will get profit as well. You must love what you do and truly pour your heart and soul into it. You must feel that what you are doing is right if you push for success.

3. Know your strengths and weaknesses. It will help if you utilize your muscles as much as possible while at the same time compensating for any areas for improvement that are in your life.

4. You cannot fail! There is no such thing as failure. Things not turning out as you expected are not failures but opportunities to learn something.

5. Plan, prepare and execute. Know where you’re going, why, and how you will get there. It would help if you had a blueprint for your success.

6. You must be dedicated. This goes back to having a passion and believing in yourself. But dedication is about more. While achieving a good work/life balance is vital, if you have just started a new venture, you must work hard and put in the hours to reap the benefits later.

7. You have to network and build relationships with people. People are your greatest assets, both inside and outside of your enterprise.

8. Never stop learning. No business is finite, and the world constantly changes, so you must change with it. To do this, you will have to know all the time.

9. Keep the faith. You will have bad days, evil days even. It will sometimes feel like everything is going wrong, and the world is plotting against you. But remember that you believe in yourself and your enterprise and that things will be okay, even if it is eventually.

Be disciplined. Know what you have to do and when, and do it, even if you don’t fancy it. Yes, you have more flexibility if you start your enterprise, but you won’t be successful if you are lackluster about it.