Secret formula of being successful in 2023

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How to become successful in life ? To answer this question,we need to understand the definition of being successful. Successful means one has achieved in life what he actually wanted to achieve.It will depend on the person and his wish on how much he wants to accomplish in life that he becomes satisfied.

People always complain that there are very few jobs or there is a lot of competition.I totally disagree on both the points .I also feel that at present day and age, doing business has become a lot more easier than it was merely 10 years ago.You just need success mindset and willingness to become successful.This is because there are many secrets or qualities which are needed to become successful.I will divide these qualities into 4 parts.

In the first part ,there are 8 steps which are to be followed by a person to become successful in life.In my view a person is successful if he is rich and satisfied from life.

The first step is Desire.Desire means the person has very strong desire to become successful in his niche and he is willing to put all his efforts in bringing his desire to reality.

The second step is Faith.Faith means you have faith or confidence in yourself that you will achieve what you want, no matter how much effort it takes. The emotions of faith and love are the most powerful of all the positive emotions.

Let me explain with some example. If a person joins a new organization as a trainee, he abhors it.When he continues for some months ,he becomes accustomed to it.If he continues the job for a few years,he finally embraces it and become influenced by it. There are millions of of people who believe themselves “doomed” to poverty and failure because they have no faith in themselves.They are the creators of their own misfortunes.So you must have the desire as well as faith in yourself that you will achieve success and you will finally achieve it.

The third step is specialized knowledge. You must have specialized knowledge as well as general knowledge in the field in which you plan to do business or job. General knowledge is of little use in the accumulation of money.

I mean whoever has become rich is because they have specialized knowledge in their respective fields together with desire and faith .You cannot become rich by being a jack of all trades and specializing in none.

The fourth step in being successful is Imagination.Besides desire,faith and knowledge he also needs to be a creator with his ideas and imagination because in business there will come many instances where he will have to deal in a unique way everytime ,either with his clients or with his employees . He also needs to constantly generate new ideas for the progress of his business through his imagination or his organization.

The fifth step in being successful is Organized Planning .Before proceeding in business ,he needs to have a accurate plan of how he is going to conduct the business and with how much resources.He should also have a mastermind group or “employees” because no person can run an organization alone. He will be having some employees ,each with specialization in different fields in order to run the business efficiently.

The sixth step in becoming successful is the Decision-making process. As the organization grows ,the decision-making process starts becoming complex . When it is a small firm ,all the decisions are taken by the owner himself.But as it starts growing ,the work also starts to increase and thge success of the firm depends upon good decisions by the concerned people.

The seventh step in becoming successful is Persistence. This is the most important part of any organization if it wants to be successful. All the successful people have this one thing in common .The “never give up” attitude. Success comes to those who refuse to give up and solving all the challenges which comes in their way.There are many examples of people who started from a small shop and went on to establish very large organizations.

You can take the example of Motilal Oswal Financial Services. It was started in 1987 as a small firm with 2 people ,Motilal Oswal himself and Raamdeo Agrawal in 1987.Today it is valued at more than Rs.10000 crores with 2200 offices and 10 lac customers all over India.

The eighth step is gaining Power.Power means when you start growing in business or career ,many people will start working for you and you will have to channelise the power in a positive way in providing better product or services to your consumers.

In the second part,there are 10 positive factors which a person must possess( which are found in a leader) in order to become successful.These factors are the following .You can read more about this here.

  • Courage
  • Motivation
  • Definiteness of Decision
  • Definiteness of Plans
  • Habit of doing more than paid for
  • Pleasing personality
  • Sympathy and Understanding
  • Deep knowledge
  • Responsibilty
  • Cooperation

In the third part ,there are 14 primary causes of failures which people should avoid to become successful.

  • Negative Personality – People who want to be successful should not have negative personality, but you will find most of the people have negative personality instead of pleasing personality.
  • Well-defined purpose in Life- To become successful, you need to have well defined purpose from a young age, so that you don’t put your effort on random things.But here again ,you will find that majority of the people have no well-defined purpose in life.
  • Lack of ambition- People who have no ambition or no larger goal in life cannot make it big.This is because of lack of their success mindset. If they have no dream or ambition to make it big ,they will not take any action on it.
  • Lack of self-discipline -People who want to become successful are very disciplined in life. After World War 2, when Japan lost ,it signed a treaty with the US that it will have no military of its own and security of Japan will be taken care of US. Then the people who were in army started to do business and by 1980 ,it had become world’s second largest economy in the world till 2010.Even today ,it is third largest economy with a GDP of 5 trillion dollars and it has a population of only 13 crores.The reason for Japan’s success was because its population was very disciplined .
  • Insufficient education-It is proved that people who have become most successful had good education.There are very less people who have success mindset and made it big with less education .But to compensate for their own education ,they had a group of people or employees who were more educated and guided them in all the matters.
  • Ill-health – The person who is always affected by ill-health ,will not be able to manage successful business because he will himself be in bad health.
  • Insufficient capital- Most of the people do not have large capital for business to start .If they have capital, they do not know the process of starting a business and take a lot of time in figuring out that how their business will work.
  • Procastination- Most of the people keep on delaying their plans to start a new thing and time flys by.In business ,the more you delay, the tougher it becomes to start .
  • Wrong partners- In business, if you select the wrong partners ,then it becomes very risky. You need to choose your partner very carefully because when money starts coming ,many people change and if their is a conflict in partnership ,all the efforts will become zero.
    • Wrong partner in personal life also affects a lot. If a person is married to wrong partner or they fail to lead a happy life ,it also affects the business adversily and proves to be a roadblock in path to becoming successful.
  • Lack of enthusiasm- People who select the job or business merely by getting attracted to the package or profits are doomed to fail.The most important is that the business which they are selecting is in their niche or not ? If their niche or specialization is different from their business idea, they will not have enthusiasm in doing their work and after some time, it will become boring.
  • Fraudulent Intention-If the owner’s intention is not good or he has fraudulent intention, then also business is bound to fail.
  • Heirs of rich people-A reason for failing in business is also that it was not earned and passed on by their father or grandfather.A person who runs a business know the value of money and respects it. There are many instances where a person has given a successful business to their children and they were not able to run it.
  • Extravagant spending-The person starting out should know the value of money and refrain from extravagant spending .The person who starts spending on lifestyle and unnecessary spending is doomed to fail.
  • Ego – The person who has ego, or starts thinking that he is superior to others is bound to fail.
    • These were the 14 negative characterstics besides success mindset which a person should not have. Success mindset is a postive attribute whereas these are negative characterstics.

The purpose of writing these causes in detail is that business is not an easy task.So most of the people refrain from starting a business .Besides success mindset ,there are many additional qualities which a person should have and some negative qualities which a person should not have. These people look for job so their risk is minimized. So if you master any one skill,you can hire these educated people to work for you.

If you have observed ,the qualities I mentioned which are required to make it big are not found in 90% of the people .People fail in some part or the other ,sometimes in education ,or in persistence ,or in relationship .This is the reason why I believe that there is no competition in the market if you want to be successful.You just have to focus on yourself in achieving the your dreams.

In the fourth part ,we will cover marketing in today’s world.

There are 2 types of marketing- offline marketing and online marketing.Offline marketing is advertisments on boards and banners, newspaper advertisments ,advertisement on television, radio ,distribution of pamphlets, magazines . Meeting physically, or organizing a meeting in hotels, seminars are all example of offline marketing . Basically ,advertisment without the use of internet is called offline marketing .It is still effective in today digital era .but it is expensive.

Now , we will talk about online marketing or digital marketing as it is called.Digital marketing is marketing through online channels, with the use of internet .10 years ago, internet was very expensive so companies and brands generally used offline marketing for their promotional activities.

Digital marketing consists of advertisment on google , facebook and email marketing.Advertisements on google consists of listing the business on google maps and advertisements on all its platforms like gmail and youtube.Facebook ads consists of advertisment on facebook and all its network like instagram, whatsapp and messenger. Email marketing is marketing through emails on a regular basis. Digital marketing starts from building a website and listing out all your products and services on the website .Then we promote our products online through google ads,facebook ads and email marketing.

For example when we buy something from amazon or flipkart, first we log in to its application or website ,and browse the products .After choosing the product like a mobile phone ,we select the payment mode and make the payment online through UPI or net banking.Then the product gets delivered through courier to our address and we recieve a invoice on our email.

The benefit of using digital marketing is that it is much cheap than traditional marketing but we cannot say one is bad and the other is good.In fact good businesses use both types of marketing and both complement each other.For more information on digital marketing, you can visit my blog here

But ,with the help of digital marketing many businessess have gained millions of customers in a very short span of time and today many bussinesses are valued in billions in the stock market.For example Amazon is valued at over 1 trillion dollars ,Alphabet (parent company of google) is valued at 1.26 trillion dollars, Facebook is valued at 340 billion dollars. This valuation is after a drop of 30% in 2022. And these 3 companies have given employment to 17 million people worldwide.

So,I mentioned in four parts ,how we can become successful and make our careers by working on our ourself and upgrading our skill and marketing it in an efficient manner through marketing.

about author


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My name is Siddharth Ray. I have worked in banking and insurance and now I have started my own agency for helping people taking the right investment decisions.You can contact me for investing in equity, mutual funds, life insurance, health insurance ,motor insurance and fixed deposits.

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