Trust Your Leadership Intuition

Starting a business requires many skills and abilities.  But one skill that is not talked about very much is the ability to trust your leadership intuition.

You can easily be misled by the attitudes and opinions of others. Sometimes people will encourage you to get into a business that you shouldn't get into because they have nothing personally at stake. It is very important that you use your intuition about what is right for you.  You need analyze the business opportunity according to your ability to provide he goods or services that your business will be offering.  Perhaps taking a personality assessment might help to bring your strengths and weaknesses into focus. 

The bottom line is do your homework thoroughly in advance before you make any decisions. 

The essence of a successful business is really quite simple. It is your ability to offer a product or service that people will pay for at a price sufficiently above your costs, ideally three or four or five times your cost, thereby giving you a profit that enables you to buy and to offer more products and services. 

Add value by bringing the product or service from another place to where you're selling it, or by creating the product or service and selling it at a price higher than your total cost of production. You become wealthy by either selling a few products or services at high prices, or by selling many products or services at lower prices with smaller profits. The best strategy, of course, is to aim to sell a larger volume with a smaller profit on each item. Most great fortunes in America have been made selling large quantities of products over a wide area, thereby broadening the market and reducing your dependency on just a few customers. 

For instance, selling yachts rather than chewing gum. There are few fortunes that are based on selling yachts, but there are major fortunes that are based on selling chewing gum. A basic rule is this. If you want to dine with the classes, you must sell to the masses. 

Start where you are. Start off in an established field and only experiment with new products or services out of your profits from your established business. 

One reason many entrepreneurs fail is that they have grandiose ideas of being the first into the market with a brand new, untried, unproven product. Don't you fall into this trap. As you begin to magnetize your mind with visual images of wealth and success, as you begin looking everywhere for profitable ideas, you will begin to attract into your life the people and business opportunities you need to achieve your goals. You must learn to trust your intuition, your gut feeling concerning any business decision

You build that trust by gathering enough information.  Read every publication, explore every opportunity. Remain open to all ideas. But in the final analysis, trust yourself. Trust your inner voice to tell you the right thing to do. All great businesspeople become great by listening to their inner guide. It will never fail to lead you to your highest good and heaven help the person who refuses to listen to it. 

Always remember that the key to success in business is your ability to add value to your customers by providing them with something they want and need at a price that enables you to make a profit. Keep your thinking focused on the benefit that your customer will enjoy from what you are offering. Second, get all the information you possibly can. Speak to as many people as possible. And finally, sit down quietly by yourself and listen to your intuition before you make the final decision. This is the best investment of all.