The document outlines six key lessons for starting or growing a business based on interviews with successful business owners. The lessons are: 1) Find a market niche for your product or service. 2) Believe in yourself and back yourself with skills and expertise. 3) Be prepared to work harder than imagined. 4) Be passionate about your business. 5) Understand yourself and hire complementary team members. 6) Step outside your comfort zone and continuously learn new skills. The document emphasizes finding solutions to problems, thorough planning, perseverance and enjoying the journey of business ownership.

1. Serious about starting or
growing a business?

2. Serious about starting or
growing a business?
Lessons from successful
business owners

3. To start and grow a business is
one of the most exciting,
challenging and interesting
things you can do in your life

4. But where does the best advice come
from when you are starting a business
or in the next growth phase?
Q

5. But where does the best advice come
from when you are starting a business
or in the next growth phase?
Q
The successful business owners who
have been there and done it.A

6. We have interviewed business
owners of all shapes and sizes,
from all sorts of industries

7. The wisdom they share are the
lessons that need to be learnt

8. There are 6 key lessonsto
start or grow a business

9. Find a market niche for
your product or service
1

10. Find a market niche . . .1

11. Find a market niche . . .1
Have an idea/vision of what you want your business to
become before you begin

12. Find a market niche . . .1
Have an idea/vision of what you want your business to
become before you begin
No matter what the industry, business is tough and highly
competitive

13. Find a market niche . . .1
Have an idea/vision of what you want your business to
become before you begin
No matter what the industry, business is tough and highly
competitive
To be successful, find a unique product or service in
market areas where there is a problem to solve

14. . . . and do your planning1
To start . . .
Measure twice and cut once

15. . . . and do your planning1
To start . . .
Measure twice and cut once
Do your homework and do your research

16. . . . and do your planning1
To start . . .
Measure twice and cut once
Do your homework and do your research
Invest the time and effort in the planning

17. . . . and do your planning1
As you grow . . .
You often hear people say hope is not a plan, and that is
very true

18. . . . and do your planning1
As you grow . . .
You often hear people say hope is not a plan, and that is
very true
Set a goal and plan a path that will enable you to execute
that goal

19. . . . and do your planning1
As you grow . . .
You often hear people say hope is not a plan, and that is
very true
Set a goal and plan a path that will enable you to execute
that goal
Make sure the path includes milestones along the way, so
you can identify the progress you are making

20. Believe in yourself and
then back yourself
2

21. Believe in yourself and then back yourself2

22. Believe in yourself and then back yourself2
You don’t need to be afraid to take the risk if you know you
have done your homework

23. Believe in yourself and then back yourself2
You don’t need to be afraid to take the risk if you know you
have done your homework
Once you have found the opportunity, trust your instinct,
back your skills and area of expertise

24. Believe in yourself and then back yourself2
You don’t need to be afraid to take the risk if you know you
have done your homework
Once you have found the opportunity, trust your instinct,
back your skills and area of expertise
Believing in yourself and telling the story of the reason for
your business is an incredibly rewarding experience

25. Remember . . .

26. Believe in yourself and then back yourself2
To use your skills in an area you know very well

27. Believe in yourself and then back yourself2
To use your skills in an area you know very well
Don’t follow the herd into areas just because you have
seen others succeed in it

28. Be prepared to work
harder than you thought
imaginable
3

29. Be prepared to work harder than you thought
imaginable3

30. Be prepared to work harder than you thought
imaginable3
There is no substitute for good old fashion hard work

31. PERSIST, PERSIST, PERSIST

32. Be prepared to work harder than you thought
imaginable3
Owning your own business is wonderful but it isn’t easy

33. Be prepared to work harder than you thought
imaginable3
Owning your own business is wonderful but it isn’t easy
Be prepared to work harder than you ever knew was
possible, and expect that you will never truly be ‘off-duty’
again

34. Be prepared to work harder than you thought
imaginable3
Inevitably things will get hard, but the fact that you are
prepared to put yourself out there and do the work is a
competitive advantage and you need to focus on that
when things are tough

35. Be prepared to work harder than you thought
imaginable3
Inevitably things will get hard, but the fact that you are
prepared to put yourself out there and do the work is a
competitive advantage and you need to focus on that
when things are tough
Owning a business is not a glamorous reality and much of
the things you will achieve will come down to the hard
work you do

36. Be passionate about
what you do
4

37. Be passionate about what you do4

38. Be passionate about what you do4
You have to choose something you are passionate about

39. Be passionate about what you do4
You have to choose something you are passionate about
When things get tough that passion will help to keep you
focused and see those obstacles as small speed bumps
along the way

40. Be passionate about what you do4
You have to choose something you are passionate about
When things get tough that passion will help to keep you
focused and see those obstacles as small speed bumps
along the way
Your clients and staff will also feel your passion and it will
resonate through the business

41. Be passionate about what you do4
The one thing that never changes for successful business
owners is the passion and enthusiasm for what they do

42. Be passionate about what you do4
The one thing that never changes for successful business
owners is the passion and enthusiasm for what they do
Owning and running a business consumes so much time,
effort, energy (and money) that if you can’t get excited
about it then it’s going to be really hard to keep getting
out of bed and continuing when things get tough

43. Another thing to keep in mind . . .

44. Be passionate about what you do4
There will be challenges, long hours and hard work but you
will go above and beyond if you love what you do

45. Understand yourself and
find the right people
5

46. Understand yourself and find the right people5

47. Understand yourself and find the right people5
Understanding both yourself and the people you will be
working with is critical to a successful business

48. Understand yourself and find the right people5
Understanding both yourself and the people you will be
working with is critical to a successful business
You can’t do everything yourself, so make sure you find
people who complement your skill sets and communicate
your vision in a way that sees them buy into it as
passionately as you do

49. Understand yourself and find the right people5
Respect one another and then for each person in the
business clearly define roles, responsibilities and their
goals

50. Understand yourself and find the right people5
Respect one another and then for each person in the
business clearly define roles, responsibilities and their
goals
For successful businesses, attracting and retaining the
right people is vital

51. Step outside your
comfort zone and learn
new skills
6

52. Step outside your comfort zone and learn new
skills6

53. Step outside your comfort zone and learn new
skills6
You will need a love of learning

54. Step outside your comfort zone and learn new
skills6
You will need a love of learning
When you are starting or growing a business, you will have
the challenge of wearing multiple hats and learning and
executing a diversity of skills

55. Step outside your comfort zone and learn new
skills6
You will need a love of learning
When you are starting or growing a business, you will have
the challenge of wearing multiple hats and learning and
executing a diversity of skills
For successful business owners, this brings great
satisfaction

56. Step outside your comfort zone and learn new
skills6
Be prepared to go to workshops and training sessions to
fill your skill gaps

57. Step outside your comfort zone and learn new
skills6
Be prepared to go to workshops and training sessions to
fill your skill gaps
Step outside your comfort zone.You will be meeting new
people, standing up at network meetings to introduce
yourself and taking on roles that you just can’t palm off to
anyone else

58. Importantly…

59. Enjoy the journey

60. Enjoy the journey

61. If you are like most entrepreneurs you will always be
looking for the next goal
Enjoy the journey

62. If you are like most entrepreneurs you will always be
looking for the next goal
Business is a journey not a destination
Enjoy the journey

63. If you are like most entrepreneurs you will always be
looking for the next goal
Business is a journey not a destination
Enjoy it and take time to celebrate the milestones along
the way
Enjoy the journey

64. To summarise the 6 lessons . . .

65. Find a market niche for your product or service1
Believe in yourself and then back yourself
Be prepared to work harder than you thought imaginable
Be passionate about what you do
Understand yourself and find the right people
Step outside your comfort zone and learn new skills
2
3
4
5
6

66. For more stories and interviews with
successful business owners follow NextChapter