What role does luck play in your business? Did you spend St. Patrick’s Day putting up four-leaf clovers from the yard and chasing rainbows?
A new survey from online small business community and directory, Manta, had nearly 4 in 10 respondents say luck has not played any role in their business success – and ranked it last behind hard-work, networking, good hiring decisions, timing and the economy as the factor that has had the biggest impact on their company.
You definitely can’t rely on luck to make your business a success. A poorly run business won’t be successful no matter how much luck gets thrown your way. But luck has to play a part, however small. That you were born in the right place, in the right era to make your business work is luck.
But I can’t very well write a post with tips on how to be lucky, so let’s look at the tangible, concrete things you can do for you business, as mentioned by Manta’s survey respondents.
- Networking gets your name out and can lead to cross-promotion opportunities and referrals. You can learn from other business owners and share resources and information. Almost one-third of those polled in Manta’s survey say networking is the best way to improve their luck in business. We’ve talked about the importance of networking and how best to go about it before in our archives.
- Your employees represent you and your business. Making good hires and keeping them is absolutely critical to the success of your business. We’ve got tips for great recruiting, and the details on software that can help you find employees similar to the ones you have in our archives.
- You can’t help the economy, but you can help how you respond to it. Here’s how you can boost sales in a slumping economy, and how to see opportunity where others don’t.
And don’t forget to check out Ramon Ray’s 9 rules for business success.
How do you make your own luck? What do you wish you had known when you started your business? Let us know in the comments below!