Well, Bryce Monkivitch is here to share his 5 secrets to success in business. Monkivitch has a vast background in business; beginning with his uncle in China, studying accounting, and now building out some of Australia’s largest online stores. His company, Sincere Sally (IG: @sinceresallyboutique), now brings in the equivalent of more than USD $1 million annually. Monkivitch, 30, runs it with his sister, Joy. They sell their apparel worldwide. The store competes with brands such as Nasty Gal, Fashion Nova, and Princess Polly. He is one of the most well known Australian online marketers! With only just recently featuring in Forbes, we are blessed to have this young entrepreneur’s advice. “What if I told you that the secrets to success in business aren’t as complicated as many make them out to be?” Questions Monkivitch.
How about I let you in on a few of my ‘tips and tricks’.
- Business Ethics
What is ‘business ethics’? You may ask.
Business ethics can mean various things to various people, however, I see it as coming to know what is right or wrong in the business world and doing what is right. The attention to business ethics is critical during times of fundamental change as it helps to ensure that when leaders and managers are struggling in times of crisis, they retain a strong mental compass. Business ethics is essential and strong preventative medicine.
- Build Strong Relationships
As the saying goes, “it’s not what you know it’s who you know” – This is my life motto. Every opportunity you get, network! When you’re traveling and sitting on the plane, when you are waiting on your morning coffee at the cafe, anywhere you are, be present with your surroundings and be present with others. I have met some amazing people from all around the world who have all been a part of my journey of business success.
More business-specific, learn to build strong relationships with your staff, with your suppliers, with your online platforms. Never miss an opportunity to introduce yourself to someone because you just don’t know how much value you can give but also gain.
Routines are different for every one of us! By developing a daily routine, it can help us to feel more in control and statistically enhances productivity. Routines can help us cope with change, form healthy habits, and reduce stress levels.
A sneak peek into my daily routine… To be honest my routine changes every day! However, I like it to go some way like this:
- Wake up at my own time and pace;
- Eat a well-balanced breakfast;
- 10-minute meditation;
- Set my workday up; review ‘to do’ list, sit in my office;
- Lunch out with business friends;
- Some sort of exercise; walk, gym or boxing;
- Continue to work and eat dinner;
- Head to bed once daily successes are reached.
Patience is key! The biggest thing I have learned in my E-Commerce journey is to be patient! Take time, don’t rush. Just simply have patience. Patience is essential to everyone’s daily life.
- Realistic Goal Setting
Set realistic goals. Have you heard of the method ‘SMART’ goals? The key to goal success is setting specific, measurable, attainable, relevant, and time-bound goals. Make sure that it’s possible to achieve the goals you set. If you set a goal that you have no hope of achieving, you will only demoralize yourself and erode your confidence.
However, resist the urge to set goals that are too easy. Accomplishing a goal that you didn’t have to work hard for can be anticlimactic at best, and can also make you fear setting future goals that carry a risk of non-achievement. By setting realistic yet challenging goals, you hit the balance you need. These are the types of goals that require you to “raise the bar” and they bring the greatest personal satisfaction.