Five Things That Make A Business Successful

Five Things That Make A Business Successful

Businesses come and go but those that thrive and have a solid base from which to trade from have all mastered the following Success Factors:

  1. Customer satisfaction: making sure that everything that the business does is totally focused on what their customer wants. Any other activity is irrelevant, adds cost and does not deliver quality.
  2. People: making sure that the staff in the business are the best available, with the best skills and attitude so that the customer focus remains at the centre of everything that goes on.
  3. Social Value: businesses that have a strong social ethos, and are not just playing at this, are more likely to be valued by customers compared to those who are merely out to maximise profit and returns.
  4. Money: making sure that money flows into the business and then only flows out when it is needed. There is no point in being cash-rich when this quickly evaporates and then creates problems of supply and purchasing necessary components or materials.
  5. Growth: successful businesses have a careful but inquisitive approach to growth that is steady, sound and incremental rather than just chasing the quickest way to generate sales.

Keep a steady focus on all of the Success Factors at all times.

Good Luck!

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