Sukanto Tanoto’s 3 Keys to be Successful Business Owner

Being an entrepreneur is never easy, but those who are successful usually have what it takes to beat all challenges and impediments that come their ways. SukantoTanoto, the owner of RGE Group and Tanoto Foundation, paved his way to success from a small family business, and he did not even his formal school during teenage years. According to him, his success was inspired by his father’s 3 wisdoms to achieve success in business, and he always shares these success keys in many events.

Entrepreneurship Secrets for New and Old Business Owners

Tanoto’s keys of entrepreneurship success can be applied by both new and old business owners, in order to start, develop, and keep their businesses successfully. Here are his 3 wisdoms for all business owners out there:

·         Prepare to do business for survival. New business owners and they who already have growing businesses should expect to do business for survival; it can be because of sudden impediments, financial difficulties, bad business climate, growing competitions, and external factors such as inflation or monetary crisis. They must be ready to face these things anytime, and stay focus on the future goals.

·         Do business for growth. Do not just think about keeping the business afloat and ‘safe.’ Good entrepreneurs must know how to grow and develop their businesses, such as with innovation, new marketing initiatives, product developing, and many more. This will lead to bigger and better business, and it will not be stagnant.

·         Do business to open more opportunities. After the business has been quite stable with constant growth, a good entrepreneur must take chance to find new opportunities. It can be new business, new product types, new partnership; anything that can lead to the opening of new things the business owners never do or experience. This is the thing that makes the difference between successful, national/international businesses and small businesses that never try to expand or try new opportunities.

However, in order to do all those things, entrepreneurs must also remember to weigh all risks and possibilities. This is important to stay in track and be ready to face any obstacles.

Growing up without being able to continue his formal education, and saddled with responsibilities to handle small family business, Sukanto Tanoto has successfully applied the 3 wisdoms his father gave, and he hopes that new generations of entrepreneurs can do the same with their businesses and achieve success.