So, we can all agree that business is business, right? Right! Whether we’re talking about a fashion business, a sporting goods business, an e-commerce business, or a retail business, there are essential things that it must have in place to be successful. Every single company has to have great products (or services), an effective & efficient process of getting those goods & services to its customers, and the right people making all these things happen.
1. Good People
This is on the list first because it’s the most important. Every business needs to have good people working within it. This is vital to the success of the company. Everybody from the partners to the part-timers have to be in sync and be aligned with the goals, mission, and vision of the organization. The phrase “A chain is only as strong as it’s weakest link” rings very true in the business world. One bad sales person can cripple revenue and one wrong tweet can put a wrench in profits. Make sure you have the right people working with, for, and around you – it’s the first step in creating a great business.
2. Good Process
If it takes me 2 months to get something I ordered online, more than likely, when it does arrive, I’ve forgotten I bought it. Or, I don’t need it anymore because I’ve since found something to solve the problem faster. The way your customers receive your products and services is important, no one likes waiting because something was shipped to the wrong address. Services need to be provided in a timely manner, and in a certain way, for customers to feel like what they paid for is worth it. If someone cuts your lawn, and you still see weeds or they’ve run over your mailbox, you’re probably not going to hire them again. If your process is broken, it doesn’t matter how great your product is, it will never get to your customers.
3. Great Product
Successful companies solve problems. The really, really successful ones actually create the problem first, then create a solution for it. The greatest companies first let you know that you are missing out on something; they then show you what that something is; then they entice you to buy that something. That’s genius! A great method of finding out which products or services you should deliver is the Lean Startup method. It’s one I’ve implemented into my consulting with clients as well as my own businesses.
If you create something great, people will love it! If you keep creating great things, success is inevitable. In order to reach success in any business venture, focus your efforts on finding quality people, investing in a quality process & doing your research & creating quality products & services.