Every entrepreneur strives to find the formula for success. Some business owners have no doubt that it’s impossible to achieve it, while others believe that hitting a target is as easy as entering a VIP casino. But as always, the truth is in the middle, and any company can become successful. You just have to be patient and remember about these principles.
The Goal of Business Is to Make People Happy
Money is only a derivative of how much we make life better for those around us. A true entrepreneur does not sell flowers, but emotions; not cosmetic services, but confidence in one’s own attractiveness; not cars, but status, comfort, reliability.
A business with a mission that lies beyond profit is doomed to succeed. Don’t chase the money. Focus on becoming unbeatable in your niche. Sincerely love your product, improve the quality of your products, services, and service, and burn with the idea of caring about your customers. Truthful and inspirational companies bribe, inspire trust and respect, and they have lines of customers.
Constantly ask yourself, “What can I improve in my project and the industry as a whole today?” Automation of processes, technological innovations, additional services, guarantees, service features – regularly prove the reasons why customers should turn to you and not your competitors.
And your customers will be an inexhaustible source of modernization ideas for you:
- Conduct satisfaction surveys on the services provided / quality of goods purchased.
- Ask them what they would like to improve.
- Ask for feedback.
- Find out through your customers how your competitors are doing and ask them to highlight their strengths and weaknesses.
- Before introducing any new product, confirm through focus groups what benefit it brings to the client, whether the meaning of this benefit is clear, whether you stand out by it, and be sure to assess the risks and costs.
You can also offer test products to customers and scale only successful conversions.
The only thing is, don’t make it up. Build on the existing needs of your target audience. But the bar of perfection for your business should still be slightly higher than customers’ expectations.
Build a System
A system is 80% of a company’s success. Strive to keep everything in your organization running like clockwork. Financial spreadsheets, decompositions, standards, instructions, scripts – to help you.
System = order. A systemic business is more mobile, responds faster to changes in the external environment, and is easier to scale.
In Any Crisis Look for Opportunities
Difficult times spawn great companies. The main thing is to react properly to difficulties: do not panic, but take risks and discomfort, not missing opportunities for growth, development of fresh directions, opening new markets. Embracing change expands boundaries and allows you to manifest more vividly in the world. Fall in love with turbulent periods and always capitalize on them.
Your Team Is Your Competitive Advantage
Talented and dedicated staff are the company’s greatest asset. Therefore, invest as much as possible in this asset of your business.
Select people for your staff. Here’s a list of criteria for the ideal candidate:
- A history of success.
Try to optimize the work of each specialist, the functionality must be clear, and any process must be efficient.
At this stage, you should instill in your employees the responsibility and understanding that absolutely all team members should deal with clients’ problems – impressions of service are formed at every stage of interaction with the organization.
Invest in team development. Unlock the potential of all employees, give them chances to prove themselves, motivate them to improve their skills, set goals, encourage, praise, admire the contribution of everyone to the common cause – from the cleaner to the top manager, respect the work of others.
Be empathetic. Masterfully combine compassion and demandingness. A great company can only be created by being a great person – kind, fair, able to listen, understand, joke, encourage and inspire. With such a leader, the energy of the company will increase, people will be less stressed, more engaged, and more productive.