May 22, 2014

Peter Jones from Dragons Den: Top 10 Rules to Build a Successful Business


Peter Jones is an entrepreneur I deeply admire and respect. A self made millionaire with a superb knack for business, he has a portfolio of over a dozen companies that he’s involved with. Peter has in recent years skyrocketed his personal brand through Dragons Den. He has also started his own show in the US called American Inventor.

What I admire most about Peter, however, is his desire to assist and help other entrepreneurs on their journeys. He has his own show on BBC called “How we made our millions” where he interviews and documents the stories of successful entrepreneurs, and also runs the Peter Jones Academy which serves to educate, encourage and support entrepreneurs.

Here are Peter’s top 10 rules for building a successful business.

RULE 1: HAVE A VISION

Your vision is your destination. You’ll need a map to help you reach that destination, which will be made up of goals and results. The vision is the vital part, otherwise, you won’t know where you are heading and your goals will be irrelevant.

RULE 2: USE YOUR INFLUENCE

All businesses need business partners to grow. Tycoons know the importance of filling the gaps and weaknesses in their own skill set or business idea, by finding the parts of the jigsaw puzzle to create the best chance of success.

RULE 3: BUILD YOUR CONFIDENCE

If you don’t believe in yourself or your idea, why should anyone else? Gain confidence through gaining experience, skills and knowledge. Change your perception of failure to realise that it provides feedback. Feedback provides essential learning to help know what not to do the next time.

RULE 4: MAKE A COMMITMENT

Committing to follow through once a decision is made is an invaluable ally on your road to success. Be prepared to work hard and make sacrifices. Commit to a common goal and make it happen, but commit to yourself and your health too.

RULE 5: AIM FOR RESULTS

Tycoons make things happen. They are driven by results. Planning for your success is as important as achieving success. You need to know exactly how you got there so your success can be duplicated, scaled up and multiplied, and it is that which turns an entrepreneur into a Tycoon.

RULE 6: TAKE ACTION

Action is the bridge between your vision and results. Action involves figuring out how to get from where you are now to where you want to be. Without action there would be no results.

RULE 7: TIMING

Anticipating the changing needs of the market and partners is crucial. Timing when to enter a market or not will help optimise success, as will knowing the right time and circumstances to start your business.

RULE 8: PERSEVERANCE

Tycoons go the extra mile. Perseverance, sheer determination and tenacity are core characteristics of the mindset of a Tycoon. Successful entrepreneurs battle against all the odds to build their business and always appreciate when it is time to get out. Try to have flexibility to work outside your own comfort zones in order to bring your dreams to fruition.

RULE 9: BE CARING

Relationships with people are key. Business and personal relationships should be cherished. Treat people how you yourself would want to be treated. Always remember that people are the lifeblood and engine room of any business.

RULE 10: USE YOUR INTUITION

Listen to your instincts. They can protect you from making poor business decisions and guide you down the right path.

Would you add anything to this list? Please comment below!

Source

Be Sociable, Share!

3 Comments

  1. Rita Hilton July 18, 2015 at 10:00 pm

    thanks for the business tips they provide good guide lines for entrepreneurs.

  2. Inez January 18, 2016 at 1:34 am

    Hi to every one, because I am truly eager of reading this web
    site’s post to be updated daily. It contains good stuff.

  3. Elva June 4, 2016 at 5:40 pm

    I am also writing to let yyou understand what a terrific experikence
    our girel gained using ylur site. She even learned lots of details,
    including how it is like to have an incredible teasching mindset
    to have the mediocre ones just rasp some hard to
    do issues. You actually diid more than readers’ expected results.
    Thanks for showing these warm and friendly, dependable, educatiohal
    and aas well as unique thoughts on that topic to Jane.

Leave a Comment