Why do some people succeed immediately while it takes the second year? These 3 things explain it

We all like to hear the stories of those who started a business and made success overnight. You know the statement. A businessman starts working outside his basement or garage. Creates an excellent product or service. Notice is taken or catchs the lucky break and is suddenly making seven figures.

I like to read about these encouraging people, but I also know that the truth is very different for many business owners. Everyone wants to make progress. No one just wants to be a caretaker. But development is difficult. Do you want to grow quickly? Perhaps sell and move on? Are you over long distances in it? Want to leave the legacy? There is no correct answer to this, but what you do and how you work has an impact on your choice. Here are some things to consider if you want to succeed overnight.

Related: I have built a $ 20 million company at the age of 22 while is still in college. This is how I did it and what I learned on the way.

1. Cash in plenty of

If you want to grow faster and become “overnight success”, you need cash to increase all sectors of the business. However, one of the barriers to growth for businesses is access to the capital. Without cash you can’t buy raw materials, machinery or other goods. You also need people to lift heavy on startups and then keep a stable work pace after going through a rush. Even when business people plan to run the budget, they often forget the cost of marketing. Without it you just can’t take notice today and grow faster. Marketing costs in the digital world are much higher than you expected.

During the years, US Small Business Administration (SBA) said that “annual revenue MILLION should allocate about 7-8 7-8 percent of its gross revenue with a net profit margin with a net profit margin between 5 million and 10-12 %.” The businesses who want to grow faster often spend more.

When the need for cash goes beyond the fact that the businessman can see what he can lift on his own. The shark tanks are full of stories of people who are trying to take notice and are trying to cut the contract so they can develop. During the conversation, many people have to give up an important piece of their business. This is common when you go venture capital or private equity. Of course, the money is just one aspect of it. “Shark” or other investors also bring valuable knowledge to encourage businesses.

Businesses, like me, have different views from money. I prefer to “pay” while going. In other words, try not to take unnecessary loans and buy goods as needed, so we get an immediate return in investment. There have also come a time when we have financed efforts, but has never taken money from the foreign investor. Initially, I was interested in investing “angels”. I considered the offers but ended up falling. Has he slow down our progress? Perhaps, but we have also controlled the business, and to me, it’s invaluable.

Related: Financial truths do not tell you in your first 2 year business capacity

2. Of course quality

Making standard products or providing standard service is difficult under normal circumstances, but when you grow faster you have to ramp up. Do you have the scope of manufacturing? Will your supplier be able to maintain a business increase? Do you have training programs? I know that getting up at least six months gets a new rent in my company, and in the meantime, we do not allow them to work alone. Even pile up to experienced employees can result in errors. If you have systems and people to develop and maintain quality, this is great. But when development is efficient, quality can be compromised.

At one point, I had to make a tough choice not to go behind a large piece of business, which would increase our access internationally. In fact, the contract will almost double our annual sales this year. I was really tested. It would have been great to show such success and to gain promotion rights for a high -level job. The fact was that we did not have the strength of the bench to take it, and it would be difficult to try to make the team quickly. We refused to bid for a job. The injury but he indicated me to start building the team slowly. Today we work internationally and can maintain quality.

Here is a lesson. I am sure that it is better to reject better projects or new clients than just a bad result for development. Good reviews are read and excluded. Poor reviews very long long long long long. Today, these reviews are immediately on social media, and as you move upwards, you can crash and burn.

Related: I earned Million 1 million in 20 minutes – how did I do it here and they don’t tell you about ‘overnight’ success

3. Laser focus

In a recent article, I wrote how to avoid engaging with “shiny money”. I shared that successful businessmen are based on their basic business strategy. People who experience success overnight take this idea to a higher level. They are laser focused on products and services, but also at the speed they work. They constantly set goals and work hard to achieve them. They are focused on occasions that are not all obstacles that others see. When matters go wrong, they focus on the solution, not a problem. This is the focus that separates successful businessmen. While others see them as a success overnight, it has been a carefully prepared plan where they achieved them.

It looks like some businessmen are lucky. At the right place at the right place. The fact is, like the actor who waited for the tables for years before being discovered, a lot of hard work is needed to succeed overnight… and even more work. Most of us do not see the efforts, struggles and failures of us succeed. We prefer to think that this has just happened. I started my business in my basement and worked out for many years before affording the office. It still surprises me when people think that my company has been successful. It took more time than the feeling of people.

So, the next time you hear a story about a businessman who went to run a multi -million dollar enterprise from his garage or basement, find the story behind the story. This businessman had to find cash, offer permanent standard products and laser focus. Efforts are needed overnight, and that happens. But, for everyone who makes it, there are countless others who have claimed again for their original purpose on their basement or garage.

Slowly and stable or success overnight. Which one will you be?