What makes a successful business? | Unscripted

My name is J.K., and I have been working hard to succeed in the world of product design and visualization. I wanted to share some information that I think is very important when it comes to creating a successful business.

Im sure most of the people in this group are aware of the book "unscripted" and maybe have even read it. Unscripted tells stories and gives you the step by step process of succeeding in life, what's slowing your grind, provides examples and diagrams and so on. I wanted to cover a part of the book, that i found very useful and i think you may too.

This post is mainly for the people trying to grind on the business side.

Okay so what makes a business successful? Well, in the book there are 5 principles that make your business rock solid. The term used for the principles is C.E.N.T.S (Control.Entry.Need.Time.Scale)

If you can develop these in your business it will lead to "productocracy." It basically just means that your business is doing very well, meaning your business will grow rapidly. So what do these 5 principles mean? I will give the term and explanation for a clear understanding

Control:

Is there a human that can destroy/kill your business

For example "i started this youtube channel, but it can get terminated" "I started a social media account and it can get taken down"

Entry:

if its quite easy to enter a business there will be far more competition and commonly the rewards of said business will be less worth it. Just ask yourself "how easy is it to start my business" (for example dropshipping has a LOT of competition, youtube etc), but then on the other hand agencies don't have as much competition or marketing because it requires a certain skill that takes a while to develop)

Need:

Does your business solve actual problems (a new website that sells useless but cool junk or a store that chocolate bars isn't needed but a business that creates medicine is needed.)(Is there a demand for the thing?)

Time:

Your money comes from things such as sales, while you are sleeping. Basically this is just passive income. Don't try to search and try to get passive income, passive income is something that you can achieve if you keep working hard on your business then that business becomes so successful it will start to run without you being there. (i ran a youtube channel for 2 years. At the beginning i only made money from my new videos but after a while after uploading a lot of videos my old videos also make money and so do my new ones)

Scale:

Making money from way more people, then what you could make for example in a shop. "How many people see my business and need it?" (the shop in the countryside isn't getting a lot of customers (10 customers per day) because there isn't many people there, But the shop in New York is getting way more customers (300 customers per day). But the store online has the most customers (10k a day).

You want to try and get as many of these in your business if possible. Try and verify the ones that you have in your business model then try and pinpoint the ones you don't have and think to yourself "how can i implement this into my business?

(This post might have some errors or typing mistakes)

Thank you for reading this and i hope it becomes useful to you one day.

1 comment