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SMART is an acronym for how the successful entrepreneur of the 21st century will manage their interactions with their customers, their suppliers, their employees, their potential clients, and with their own business integrity. Broken down, the acronym stands for:
Sounds simple? It is but it also is not. On paper, most strategies and philosophies can appear easy to understand and easy to follow, but it’s that real-life application that inevitably complicates everything. What do you do the first time a competitor undercuts your price? What’s your next move when a customer is unhappy with your service and blasts you on social media and everywhere else? How do you bounce back from a bad month, a bad quarter, or a bad year? How can you demand loyalty from your employees then turn around and cut their hours, slash their wages, or out and out terminate their contracts?
Things are rarely black and white in the business world. Tough decisions have to be made to make a profit, cater to your customers, and keep your integrity intact all at the same time.
A SMART Entrepreneur should be sincere to his business, team and customers.
A SMART Entrepreneur is aware of all modern technology, trends, and issues.
A SMART Entrepreneurhas a strong personality and is fit by all measures as according to the saying, “A sound mind in a sound body.”
A SMART Entrepreneur is ambitious; he should hunger for more business as well as for more prosperity in his business.
A SMART Entrepreneur should be real in all things. He should be connected to reality and understand how the world works and that other people matter.
A SMART Entrepreneur should be well trained not only in his line of business, but in many things. He should have knowledge of his own industry, in how businesses processes work, and take in the full scope of those he deals with.
A SMART Entrepreneur always thinks upfront about how to add extra value to his customers.
A SMART Entrepreneur is always looking for possibilities to do business, regardless of time, season, or location.
I am currently writing a book ‘S.M.A.R.T. Entrepreneuring : How to stay ahead of Competition’ to cover the points mentioned above in greater detail and identify what it takes to stay ahead in life. Follow along and stay up to date on all the latest book launch information!