What’s the difference between a successful entrepreneurial business and a struggling one? Assuming that both started out with a promising business idea, then the difference can probably be narrowed down to just a few things that the more successful business does better.
Some things that get a business going strong include an engaged staff, the necessary tools to do the job, constant and never-ending improvement, first-class customer service, and a perfected marketing plan.
Let’s take a look at all these factors that contribute to business success:
An Engaged Staff
Staff members are not cogs in the machine. They are not “human resources” that must be “maximized” to produce “optimum” results. This mechanized view of labor, a legacy that corporations have inherited from the industrial revolution, will not serve your business well in the digital age. Since AI makes it possible to automate repetitive behavior, we must rely on human relationship building skills and creative thinking to build a brand.
The Tools for The Trade
If you don’t equip your staff with the right computer systems, office equipment, and business supplies, it’s unreasonable to expect them to excel at their work. It doesn’t matter how skilled a race car driver might be at a NASCAR live race, if you put him or her in a slow car, your team is not going to win the event.
Constant and Never-ending Improvement
Change is inevitable, but we do have a say in how things change. We can either react to change and hope for the best or we can initiate change and guide our own evolution. In business, driving change is all about constant self-reevaluation. What business processes or products or services are working well? What business processes or products or services need to be upgraded? And what business processes or products or services need to be dropped? The answer to these three quality control questions isn’t answered in a day, a week, a month, or a quarter. Instead, they are answered in an unpredictable way that doesn’t involve a schedule. They are answered through patient observation on how the business is evolving.
First-class Customer Service
Employees may be essential to how well your business runs, but customers are indispensable to how long you stay in business. If you treat customers as if they were passengers on a first-class airline, you’ve got the right idea. We all long for attention and for our needs to be met. This holds true even if we are in a transactional relationship and even if we happen to have completely misunderstood the rules of the exchange. By taking care of your customer’s wants, needs, and desires, they will not only support your business, but they’ll also bring their family and friends to share their good fortune.
A Perfected Marketing Plan
In essence, marketing is getting the word out. You make an excellent product. You provide exemplary customer service. But despite these winning advantages, your business won’t grow unless you find effective ways of getting the word out about what you do and how well you do it. Despite what you may have heard about the world beating a path to your doorstep because you make a better mousetrap, that idea is no longer true in the 21st century. There is too much competition to be passive about how customers learn about your business. If you’re not sure how to market effectively, consult with a top marketing advisor, someone with a legendary track record. Find out what you can do to move the needle when it comes to propagating awareness about the excellence of your products and services.
In conclusion, it’s a mistake to assume that business success is a result of extrinsic advantages—more capital, better resources, a wider business network. While these do, of course, play a role in how well a business does, these are not the only factors at play. There are, in fact, many things within your control that you can deploy to build a better business. Is your staff engaged? Do you equip them with all the tools they need? Do you routinely monitor the progress of your business systems? Do you treat your customers like gold? And is your business running on the tracks of a perfectly-engineered marketing strategy? The answer to these questions will determine whether or not your business will soar.
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