What do you Really Need to Succeed in Business
Benjamin Masila, MBA
Digital Marketing| Writing & Editing |CV Writing| Leadership|PR & Marketing|Training
Success in life and business is a topic that has been studied and discussed for centuries. There are countless books, seminars, and courses that claim to teach people how to be successful, but few of them address the fundamental question: what is the first requirement of success in business?
Most people would answer this question by saying that the first requirement of success is capital. Without money, it can be difficult to start a business, invest in marketing, or hire employees. However, while capital is undoubtedly important, it is not the most critical requirement for success.
The truth is that success in life and business requires two key components: the inner game and the outer game. The inner game refers to your mindset, beliefs, and character. The outer game, on the other hand, refers to your skills, actions, and capabilities.
The inner game is the foundation of success, making up about 60% of the equation. If you don't have the right mindset, no amount of hard work or skill will help you succeed. Your beliefs and attitudes shape your thoughts and actions, so it's essential to cultivate a positive and resilient mindset that can withstand the inevitable challenges of business and life.
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The outer game is also important, making up about 40% of the equation. This involves developing the skills and knowledge needed to run a successful business, such as marketing, finance, and management. However, even the best skills are useless without the right mindset to apply them effectively.
While capital is undoubtedly important, it is not the most critical requirement for success. The biggest companies today did not start with large amounts of capital; they started with the right inner and outer game. Once you have the right mindset and skills, capital becomes less of an obstacle as you can always find ways to raise it.
The two main reasons why businesses fail are lack of capacity (inner game) and capability (outer game). Without the right mindset and skills, it's easy to get overwhelmed, burned out, or make costly mistakes.
Therefore, success in life and business requires more than just money. It requires the right mindset and skills to navigate the challenges and opportunities that come your way. Whether you're starting a new business, pursuing a career change, or seeking personal growth, developing your inner and outer game is the key to achieving lasting success.