How Business Differs From Profession: The Differences
Howdy! A Portland, OR native, I currently reside in the northern San Diego County area as a freelance writer. When I'm not sipping coffee, soaking up some rays and writing or playing guitar you can find me at the hot yoga studio.
This article will discuss how business differs from the profession. Both businesses and professionals have the same goal in life.
They both want to make a profit. They both want to earn a living.
Business is only defined as those activities or trades that go beyond the supply of and demand for what a person wants.
The business provides the commodities which the customer wants and can afford to purchase. Therefore, it is a business.
So now that we have a definition for business, what separates it from other careers?
It is the relationship a business has with a customer. All other careers are built around one person or one group of people.
Therefore, it is the job of the one individual to supply that job to the job of the next individual or group.
However, when a business has to deal with the entire community, this community has to buy what a business produces or a person will not provide that job.
This brings a different aspect to the business.
A business has to deal with many individuals and one has to have a broad background of training in all of the areas of the business, such as economics, logistics, social sciences, human relations, etc.
From my experience in the education system, I have seen many opportunities for students to participate in a business.
For example, the classic business of selling products or services is one. But there are so many more opportunities, such as providing a service or product.
It could be a cleaning business or mowing your lawn. You can also work at a restaurant, or in a store or theater.
All of these can lead to a business career. I would encourage students to explore all of these careers and to get as much training as they can in each of these areas.
The best way to prepare for a business career is to work as much as possible in the field in which you want to work. Join or create an industry association that would allow you to become a member at no cost.
Try to get involved in industrywide projects. This way you will get experience with a large group of people.
By participating in these projects, you will be able to gain more knowledge about your chosen profession.
In business, the process is the most important factor
Making the right business decisions at the right time is the key to win-win, success. This is where you as a boss are of utmost importance.
If the business gets good exposure, it will grow and people will flock to it. If the business can stand on its own feet, it will run on its own momentum and will grow at a rate which it can sustain.
Everything boils down to the fundamentals. Which is the right way to do business?
Who does it best? How will you help them make it big?
This is the key to making the right business decisions.
The last 2% of making the right decisions
There's a saying that 90% of decisions are not right and 10% are the right decisions. The last 2% decide the fate of a business.
This is where your guidance comes in. It's in the implementation of the right decisions that decide the business fate.
In my team, we have the mantra that 90% of the time, we are wrong. This is the belief we have to instill in our team.
It's not that we don't make the right decisions. We always do.
It's just that we always do them wrong.
This brings me to the point that the most important thing is the right decision. This will take your business to the next level.
No amount of money will make the right decision of what to do with your business.
As a boss, it's your duty to have the best solution to give to the customer. It's your duty to ensure that the decision you take will be implemented in the best possible manner and in the best possible way.
This will be your most important decision, for if you make the right decision, the business will get a success, and if you make a wrong decision, your business will suffer.
What you need to know about business success
If you want to make your business succeed, the first step is the right decision. Make the right business decision and you're set to succeed.
If you have the passion and desire to do something, you have a 70-80% chance of making it work. If you lack passion, you'll never make it and if you lack desire, you'll never do anything.
Every decision you make matters. You could be using the fastest and the best solution, but if you make a wrong decision in that decision, you're in trouble.
It's better to be a few months late to market than to spend 5 years in the market just to fail. The secret of success is not to rush into business, but to make the best possible business decision.
Think like a customer and understand what they want and need. You have to make the right business decisions with the right business solution.