The following components will help your business be a success…
Leadership is about strong communication and getting the whole business rowing the boat at the same time. Without strong leadership your business could face poor performances and seem as though you’re on a slippery slope to failure.
However, with strong leadership you will be amazed with the results it could bring.
Having the right people in the right job role is the key to long term success. If your employees are happy in their role, it tends to fix problems that may occur in the future.
On the other hand, if you have the wrong people in the wrong role, or people who don’t want to be working for your company, you’ll be lucky to even have moderate success.
Implementing systems into your business can be a huge advantage, it allows you to scale your business and analyse or improve your results.
However with introducing systems comes a lot of discipline and focus to steer away from the normal every day.
Pillars of Growth
Creating a product that no one wants, or trying to sell a quality product to the wrong person are both examples of bad strategies that will cost you.
Without a clear and successful strategy, you run the risk of leaving the outcome to chance.
Marketing is one of the fundamental elements within the business pillars, you may have the best sales people and the best after care support team, yet if you can’t make yourself known and draw people in, you run the risk of falling behind.
Similar to marketing, you could have the best product or service ever, but if you can’t convert the interest into sales, then you’re not going to be making much money.
Hopefully you have money coming in, and you’ll definitely have money going out, so balancing the books and making sure you don’t end up on a negative is a must.
Money is the most common issue that businesses face, and it can shut you down quicker than anything else. If you leave yourself with no money to pay staff or suppliers, you’re not going to be in business very long.
Delivery or customer service could impact your returning customers, it may not impact your profitability right away, but could do long term damage as that customer may not return.
It also effects your sales through referrals and word of mouth, and with high usage of social media, bad news can travel quickly as well as good.