14 Common Points Of Successful Business

When analyzing the reasons behind the success of enterprises, these 14 characteristics emerge one after another and the other three.

How can a small business succeed?

Although we often hear bad news about how many small businesses fail or change, there are also good news: thousands of small businesses are set up every year, many of them have been developing into successful businesses after struggling for the first few years.

After working with dozens of small companies, I found that successful companies share some common characteristics.

The following are 14 characteristics of the thriving small businesses:

1. attractive corporate culture

Culture is defined as "a collection of people's knowledge, beliefs and behavior patterns, which can be passed on to future generations through learning."

For successful enterprises, culture is the atmosphere to attract and retain talents who can help enterprises grow, and also refers to the way of shaping the success of enterprises.

2. high quality customer service

To put it simply, customer service means serving your customers.

Many companies integrate customer service into their corporate culture through training and related business process design (and regular redesign).

In most cases, business planning determines how the company will provide high quality customer service.

3. a positive attitude.

As the owner of a company, you must have a positive attitude and be responsible for the performance of the company 100%.

With this sense of responsibility, you will push the necessary changes to achieve your desired goals.

When you achieve your goals, you will generously give credit to others in the organization.

Without exception, the most successful business owners realize that people are the deciding factors: hire and retain the right people, dismiss poor performance, and provide the necessary resources for employees to master the necessary skills.

4. simple and effective business strategy

Complex strategies or business plans do not always guarantee success. A simple sheet of paper may be effective. The key lies in careful deliberation and effective execution.

A simple but well executed business plan is much more useful than a carefully built but shelved business plan.

A good business plan defines and drives the activities and behaviors of the whole organization.

Without a business plan, it is like a ship without a rudder, unable to drive, and can only spin around.

A sound strategy should include financial planning, marketing strategy, product strategy and talent plan.

5. keep discipline.

Self discipline refers to the implementation of the above strategies and keeping the course.

Self discipline refers to focusing on your core market, measuring success according to your business strategy, rather than overreaction to market changes and frequent adjustment of core strategy to follow up.

6. take the risk.

Successful business owners are not afraid of taking the expected risk. They know the benefits of doing so.

Most business owners are willing to take risks because they recognize the necessity of changing with the changing economic environment. They know that if they do not change positively, they will have disastrous consequences.

Successful business leaders understand that the way to survive is to manage and respond to changes.

Successful businesses welcome change and positive response to market challenges, competition and changes in the overall business environment.

7. clear financial Roadmap

An important feature of successful enterprises is to create financial roadmaps and budgets and follow them.

The financial plan reminds employers how to spend money and how to spend money, and provides ways to measure progress or deficiency.

Sound financial planning is the cornerstone of an excellent business plan.

8. streamlined business processes

Another element often attributed to success is streamlined business processes.

We call it "building predictability."

Unfortunately, this may be one of the least understood tasks in the success of small business owners.

Business process refers to the procedure of various pactions in a business.

Every company has certain processes; some are well-defined and others are established.

The aim is to increase productivity and reduce costs while producing the same (or better) results.

Successful businesses recognize the need to continually improve their business processes: to make them more efficient and effective, to respond to changes in the market more quickly and to provide better services for customers.

9. effective technology

Technology is very important, but it does not have to be very complicated or expensive.

Effective technology can create conditions for change, which may be the most important contributing factor for a company to introduce.

10. targeted marketing

According to the different sales environment, effective marketing methods are also different.

For example, the market demand of B2C and B2B is different.

An in-depth understanding of the pain of your customers and how your products and services can eliminate these sores can help you understand script src=>