Have you ever wondered if there is a secret for success? a recipe, a road map you could follow to have a better chance to improve your business?
Yes, Success leaves clues!
Let’s go over 7 main reasons why.
- A clear and concise vision and mission that is communicated to and understood by all the stakeholders (owners, management, employees, customers, and suppliers) in the company.
This answers the question, “Why are we in business?”
- A culture that meets the needs of the owners, the employees, customers, and suppliers of the company.
This answers the question, “How will we conduct ourselves as we do business?”
- A uniqueness that separates the company from its competition
This answers the question “Why should our customers buy from us?”
- Keeping a close eye on the financials. paying extra attention to profit and more importantly cashflow in the business. always looking for ways to improve margins and cashflow.
This will keep the wheels turning. Cashflow is king!
- The ability to attract top-performing talented people to accomplish the vision and mission. The really successful businesses do not depend on the charisma of any single individual, including that of the founder.
This will keep the company current and innovative.
- Dedication to the principle embodied by the Japanese word kaizen (never ending improvement)Which means that even when things are going very well, successful companies strive almost obsessively to improve their product or service.
This will help with productivity as well as keeping up with trends!
- Focus on what the company does really well. Understand the strength of your product or service and have a laser beam focus on delivering that every time. Train, Train, Train each member of your team to deliver consistent results.
This will keep the company relevant in the market place and gives it the edge!
Though this is by no means a complete list of things that are necessary for success, it’s a list of the essentials.
“You only have to do a few things right in your life so long as you don’t do too many things wrong.” – Warren Buffett
