The prerequisites to achieve personal success in business and in life

The following is the advice of Stephen D. Bechtel, Jr. - Chairman Emeritus of Bechtel Group, Inc.,
 

One should:
 

- Have an outstanding character,
 

- Continuously strive to improve your personal performance,
 

- Be a team player,
 

- Be a positive, constructive influence, and be involved in activities around you, both inside your company and in your community,
 

- Be open-minded, objective, and realistic accept change as a reality, recognizing that it offers opportunities,
 

- Be avisionary focus on areas where experience and abilities can be matched by few others, strive to foresee the industries and geographic areas that will offer the greates opportunities for long-term profit, develop a competitive, innovative mentality, and create something new, uniquely suited to your company’s strengths,
 

- Be a hard-working participant,
 

- Enjoy your work and show your enthusiasm for it. It will be infectious to those around you.
 

If you want to start a new business, you should learn the fundamentals of the particular business before striking out on your own. Be prudent and sensible, sticking to the basics of good business management, develop a sound organization structure, delegate authority along with responsibility, and set up good communications. Never be satisfied with the status quo, for you cannot run on momentum; if you try to base your future on your past, you will fall behind. Determine your company’s purpose and objectives, its mission and vision, both short-term and long-term. Recognize these objectives but also the fact that your vision may change as your company evolves. Strive to be the best, not necessarily the biggest; the growth of an organization should be viewed as a growth in intellect, judgement, and knowledge, in the capabilities of individuals and the whole team. Provide your people with growth opportunities. Hire outstanding individuals and put them together into a strong, cohesive team. Recognize that teamwork does not divide responsibility but shares it and in the end allows common people to do uncommon things.
 

For a business to be successful in the future, in general, a focus on fundamentals in of prime importance. A business should prepare for the future by providing a strong market and customer focus. For example, serve the market well today and anticipate future market conditions and opportunities. The business also needs strong leadership, top quality people and facilities, sound culture and values and by being flexible and adaptable.