In order to be a successful businessman like Jarle Thorsen, it is important to know how to take care of business. It wasn’t through luck that Thorsen was able to found Unaico nine years ago and successfully run it. It wasn’t (solely) his fantastic personality that allowed him to build exergonix relationships with envestors, money people, and business owners in Hong Kong and beyond. He became the person he is today, having the power he has today, by understanding the pyramid of needs of running a business.
How to Take Care of Business According to Jarle Thorsen
In order to take care of business, you must first learn to survive. This is particularly important for those who are setting up their own company, starting from scratch. Too many make the mistake of having unrealistic goals, which means they set themselves up for failure. It is important to acknowledge that the goal of any business is to make money, regardless of the industry it is in. Perhaps you only want to make a little bit of money or perhaps you want to attract some of the most powerful investors in the world; everybody wants to make money. It is equally important to set short-term goals that allow you to meet long-term goals in the future.
Furthermore, it is important to invest in the future. The best way to make money is to spend it. Naturally you should be frugal, but that means that you think about what you spend on, rather than not spending at all. Certain expenses are more deserving than others and those are the ones you should focus on. For instance, buying a designer suit so you can impress a prospective new business contact is not as important as paying the salary of a particularly talented individual. It is possible, after all, to make a cheap suit look like a designer model. Essentially, it is about determining what you truly need. Do not think that anything that is nice is also exorbitant however, as you do have to consider your image to a degree.
Next, you have to learn how to take calculated risks. It is impossible to run a successful business without taking risks. However, those do need to be acceptable and manageable. Sometimes, you will have to take a risk that, should it not come out, could put your business down. However, the hallmark of a good business person is that they are comfortable with sometimes risking it all.
Finally, you have to be ready for the unexpected and be ready to embrace failure. A good businessman knows that they do not know it all. They also know that failure is not what the word implies. It doesn’t mean everything ends, but rather that there is a lesson they can learn so that they can become better at what they do in the future. Humans have a tendency to not expect to fail or do things wrong, but a good business person knows that failure is always just around the corner.