The success formula

- July 23, 2013 2 MIN READ

At some point in your life, you have probably thought to yourself ‘how do I make money?’ or ‘how do I become successful in business?’. What differentiates people who have become successful from those who have failed? What can I do to increase my chance of succeeding instead of the dreaded failure?

The success formula: Great idea + great execution = success ($$)

Let me break this down. You make money by convincing potential customers to become customers and purchase your product or service. By having a great idea and executing it well makes the sales process much easier. Having a great idea is good but execution is also critical to success. When you have a great idea and have executed it in the best possible way, you have created a powerful business with a lot of potential. Simplicity must never be ignored in execution.

Simplicity is complexity and lots of detail refined into a smaller package.

Simplicity should be built into your business from your website, products or services, how you describe your business and each product/service and all other aspects of your business. For example, you should be able to describe your business and its products in a sentence or two and in plain english. Some examples using my business and apps:

– “Crazy Dog Apps creates apps for iPhone, iPod Touch and iPad”

– “Our iParkedHere app remembers where you parked your car”

– “Our App Making Guide app shows you how to make an app without programming and for really cheap”

Another great example of simplicity is pretty much all aspects of what Apple do. You’ll notice that their products (such as the iPhone and iPad) look incredibly simple in terms of design. However, they would have came up with this final design after carefully examining and deciding whether they should have gone with thousands and thousands of alternatives. They probably even created hundreds of variations of it before deciding on the current designs. Their website is also super clear and they tend to describe things through pictures and videos instead of text, where possible. If there is any word or product that may not be understood by a typical viewer on the Apple website, they tend to provide a concise description of it (as per their homepage as of time of writing). By doing this, they are simplifying any potential complexity, creating a better experience for their website visitors which will increase the chance of more purchases from their website and/or stores.

Lastly, any ridiculous jargon should be thrown out the door (or off your website/branding material). Jargon of any kind creates complexity. Jargon does not make your business look good, it simply confuses the consumer. It is time to remove meaningless terms like ‘corporate solutions’, ‘paradigm shifting’, ‘customer focussed’ and ‘data-driven’ from your business if you happen to use them. It is one small step that will slightly enhance your execution, therefore increasing your chance of success.

Do you have any other tips to increase the chance of success in a business? Feel free to share your thoughts in the comments section below.

Disclaimer: I personally do not believe that high sales and revenue defines success. However, it is a form of success and it is the way that success is defined by many people.