Business Success - It Doesn't Happen 'Just Like That!'
07/02/2008

Just like a magician preparing a magic trick, making a success of your new business requires hard work and painstaking practice to ensure flawless delivery and a successful end result which will leave your audience gasping in amazement. And although your business might be going swimmingly at the moment, how can you ensure that you can keep pulling the rabbit out of the hat?

With experience as both a magician and in running a start-up business, Ivor Smith of professional presenters and magicians Fifth Dimension is ideally placed to offer some sage advice.

"Building up a successful business doesn't happen by magic - it is a delicate process trying to balance all the various facets involved while trying to avoid making mistakes. Unfortunately, all too often businesses are a victim of their own success - the mistakes come because the company has been doing well, and as a result the owner has taken their eye off the ball behind the scenes," says Ivor.

"When things are going well, it can be all too easy to get caught up in the heady excitement of it all, especially if things go smoothly in the initial stages. But don't rely on luck to keep things going. It requires concentration and effort."

Set aims and objectives
Where do you want your business to go? It might seem like a fairly stupid question, but many entrepreneurs don't have any written aims for what they want the company to achieve. "Be honest with yourself," says Ivor. Do you have clear, concise goals written down anywhere? Or do you just have a fairly vague idea of your objectives instead? If it's the latter then you are opening yourself up to potential trouble - how can you know you are heading on the correct course when you don't even know what direction you are supposed to be going in the first place?"

"Setting targets and identifying goals for the business will also help you measure the progress and development of your company and provide you with an insight into making changes for the better," continues Ivor.

Teaching an old dog new tricks
Like magic, some people have a natural flair for business, but that doesn't mean that they shouldn't constantly be trying to develop their understanding of what they do. And just like magic, you can never know too much - there is always something new to learn and discover. "Even experienced entrepreneurs can still reap the benefits by learning new skills and approaches," says Ivor. "Business owners who regularly invest time in their own professional development are helping their business stay one-step ahead of the competition."

Update your book of tricks
A magician who never refreshes his repertoire will eventually start to bore his audience, and the same principle applies to business owners. "It can be easy to become a little complacent when the business is booming. But without constantly evaluating your companys performance, looking at what you could improve, introduce or do differently, you risk becoming stale and outdated," believes Ivor. "Even when things are going well, always be looking to the future. Don't rest on your laurels."

Share your secrets
"They say a good magician never reveals his secrets, and they're right, but sometimes in the business world you have to," suggests Ivor. "Occasionally you have to give something away in order to get something else in return, whether it be knowledge, information or power. Don't be afraid to collaborate with others along the way. Sharing examples of best practice will help you develop the company and as an individual."

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