To scale new heights in business, there are certain factors we must put in place to see good business success.
We know it takes money to do business, however we aren’t here to talk about how to get capital to start a business.
You can check out the article in the link above to find information’s about getting money to start a business.
In this article, we’ll find out some guiding factors that controls the laws of business success.
Hence, what does it cost to be a record breaker, a new record setter, what does it cost?
What does it cost to make a mark in business? What should we take note of?
Therefore, let us quickly look into the three fundamental cost of business success with reference to Bishop David Oyedepo.
These three cost are vital for success and increase in business.
1. The Mind Cost:
The mind is the engine room of a man.
So, until we win in our minds, we cannot win in life because success begins from the mind.
The same applies to any business anyone intends to start today.
Every successful business you see today first succeeded in the minds of the owners.
Entrepreneurs like Steve Jobs, Jeff Bezos, Bill Gates, Elon Musk and French fashion tycoon Bernard Arnault and many others all conceived success in their minds before they saw it in reality.
Hence, today we see global companies like Apple, Amazon, Microsoft, Tesla and LVMH under their names respectively.
This proves that true business success begins from the mind.
If our mind is not in place, then our businesses cannot be in order.
We need to guide our thoughts, imaginations and our believe systems.
This is because until we overcome within, we cannot overcome on the outside.
This makes our minds the battle field of our life’s.
Hence, to see success in business, we must first succeed in seeing it through our minds.
We need to believe that our business will work for it to work.
Some people don’t prosper because they don’t think they can succeed.
When a man carries a disciplined mind, you can tell from his ways.
This will influence how he behaves, his attitude to work, the things he thinks about, what he says and the actions he takes.
Therefore, our mindset is the first and most important cost of business success that guarantees profitability.
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2. The Intellectual Cost Of Business Success:
The second cost in our context is what we call the intellectual cost.
Intellectual cost is where many people in business crash today.
Many people are in business they don’t know much about.
The intellectual cost have been ignored and that’s why many businesses are short-lived.
That’s why many businesses don’t outlive their founders.
They crash before the men themselves die.
This is because their is no adequate information to drive the vision, it has to crash.
We must understand that the word “intellectual property” is common in first world countries to protect rights to intelligence, inventions and ideas.
Knowledge is power.
Hence, the more enlighten we are on any subject matter, the greater the level of command we gain.
We need a working knowledge of any venture we are embarking on.
It is information that gives value to every vision.
Information is the vehicle with which every vision wins accomplishment.
Hence, investing time in searching an researching what works for any business we intend to start is so important.
We must review models of major successful businesses and carryout explorative studies to find out what works in our businesses.
So it’s not just about having a vision, it’s about having adequate information to drive the vision.
Hence, we are called to give attention to reading, to exultations and to doctrines that our profiting may appear to all.
You’re the same person you’re today in 5 years time except for two things. The books you read, and the companies you keep.Abraham Lincoln – Formal President of the United States of America.
Hence, we can say that lack of adequate intellectual property is the major reasons for business failures and high poverty rates in poor countries across the world.
3. The Physical Cost:
The number three cost in our context here is called the physical cost.
High elasticity is a requirement for high performance.
It takes hard work to fly high.
Hard workers are high flyers.
Every success story is traceable to high level investment of time, energy and resources.
We need energy to maximize destiny.
High level energy is an all time requirement for high level performance and high level accomplishment.
Every star is stressed to shine.
Hence, until you’re stressed enough, you cannot spread effectively.
In all labor there is profit. Hence, labor is one of your vital keys into a great business fortune.
Things only work for workers.
Therefore, you’ve a three dimensional investment to make.
The mind investment, the intellectual investment and the physical investment.
Most people think all they need to make it great in business is money, so they are looking for more money to invest.
Well, that’s there, but without these three investments, the money will yield no profitable value.
It is these three fundamental cost that gives values to our financial resource investment.
If you are not building on principles, you’re heading for troubles.Bishop David Oyedepo – Nigerian Preacher, Christian author, Businessman, Architect and the Founder and Presiding Bishop of the Megachurch Faith Tabernacle in Ota, Ogun State, Nigeria, and Living Faith Church Worldwide, also known as Winners’ Chapel International.
What you don’t work wouldn’t work.
What you don’t market wouldn’t sell.
A product or service you don’t trade will be trashed.
Therefore, if you want to see true increases then begin to invest along these three main channels and their shall be no end to the increase of your business success, growth and productivity.
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