Warren Buffett keys of success has been his secret key for success for years, and THAT is why he is a billionaire. The key to anything or for anything is the power that opens up the treasure of that thing. Listen to what he says:
The keys to successful business lie in the knowledge and experience of the promoter of that business. I have seen over and over again where people venture out to do business without a clue of what they were doing, only to fall flat on their face because they did not have the resources to move the business forward.
The Key of Success Resources
The keys to success or the key for success in business are these five essential elements:
- Knowledge
- Experience
- Working Capital
- Strategy
- Support Staff
The Key of Success: Knowledge
Knowledge is the most important key of success. Without knowledge, we will not be able to know what investments to make and when. Arm with this key of success, you will be able to use information to analyze your investment to determine if the investment or business in a viable one.
The Key of Success: Experience
The second key of success is experience. This resource is proven to be a powerful success deciding factor. Without this key of success, we will have to learn through the school of trial and error, and that is not the best way to learn anything especially business and investments because you could loose your entire savings.
The Key of Success: Working Capital
The third key of success is money, seed money and working capital. It takes money to make money, whether it is your own money or the money of someone else; you will need money, lots of it.
When I first started my business I had no money, but I had vision and strategy. I used my brain and I devised a plan to get the money and the money came exactly the way I wanted it and in the exact amount that I was expecting. We will talk about strategy in the next key of success.
We cannot hope to open the door of success in business without the key of success, it just cannot happen.
The Key of Success: Strategy
The forth key of success is strategy. I believe that success begins with strategy. You can have all the knowledge, experience and money you want, but if you don’t have strategy, you may never have success.
Life and business is a game of strategy. Strategy is your line of attack or your tactics. Strategy is also your plan and policy for winning.
If you want to start a business and you don’t have money, you must have a strategy to get that money. If the market that you are looking to enter is very competitive, then you must develop tactical policies to blow your competition out of the water.
By nature I like a challenge. If what I am doing is too easy I become bored and will find something more challenging to do. I like to enter markets that are very competitive and watch the competition tumble as I launch my line of attracts to capture the market. I get a kick out of it. It makes me feel big inside.
The Key of Success: Support Staff
The fifth and final key of success is having a support staff. No one is an island. We need a support team in order to carry out our plans, goals and dreams. Success is attainable, but we must have the right resources to make it happen.
The keys to success in business are knowledge, experience, money, strategy, and a support team.
Today is your day for success, because today you win.
Until then, keep your thoughts on success, and keep reaching for your goal!
Roland
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