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Are You Gambling With Your Business?

By Rich Schefren

A few months ago, I was in Vegas for a business meeting. And while I was there, I did a little gaming.

Of course, the real fun is watching the people around you. Because there's always that unhappy, stressed-out guy who's not playing for fun. He's playing for profit. He's dreaming of the big score. The one that never comes.

Same goes with the online business world...

I am struck by how so many people approach their business in a manner that seals its fate from the very start. And it's not because of a lack of desire. Or lack of effort. Or even lack of funds.

No. The reason most businesses fail is because of lack of fundamental business-building knowledge.

So how do you get past that? Well, it's not an easy fix. But first, you need to follow these four simple steps:

* Establish your vision and create a strategy to achieve that vision. Transform yourself from an opportunity seeker (bad) to an entrepreneur (good).

* Develop products and services that will help you achieve your vision - instead of spending thousands of dollars on products that will collect dust on the shelf.

* Do everything in your power to manage your time better. Implement systems and processes that add more productive hours to your day.

* Finally, always remember that, in order to build a successful business, you need two critical things: scalability (the ability to grow with your needs) and leverage (the ability to do more with less).

[Ed. Note: Get a proven blueprint for starting and growing a business in Michael Masterson's bestselling book Ready, Fire, Aim: Zero to $100 Million in No Time Flat. Pick up your copy here.

Rich Schefren - one of the world's best small-business strategists - knows a thing or two about what it takes to be successful. The businesses he coaches have done over $500 million every year - piling up more than $1 billion in sales every two years. Visit his blog to learn how to streamline your business while skyrocketing profits.]