Whether you’re a start-up company or an established company, there is a fine line between being successful and not. Typically people define success on revenue, but it can be different values for everyone.
However, having a combination of the ability to scale, increase revenue to a certain level and get masses of engagement throughout your platforms typically defines success. Yet, people struggle to ever get there and it isn’t easy – otherwise, every business would be successful.
That is why in this blog, we’re going to focus on the three things that make a business successful and guide you with some golden nuggets of information that will help your business too. Read on to learn more!
Successful Business Traits
The three things that make a business successful in our eyes are the management tactics/decisions behind the most important offerings, the people within the company/who you meet from mastermind groups that keep the clock ticking and the marketing strategies that create a vast platform to express.
Of course, every business has its own important specifications that make them stand out from the competition. However, with MOVE Online going all around the UK, seeing different businesses and how they are set up – these are some of the most common traits we see in successful companies.
Instead of just telling you what the most successful personalities or traits are in these companies, we feel like it is our duty to explain a little more about these three key things that make a business successful. Let’s run through them one by one.
Building a business requires business leaders who are willing to share and track the vision and goals of the company. Business goals are the formula that is used to keep track of the progress, and good management teams will keep on top of these ‘goals’ and the employees to remind them of the targets.
Each role within the business is specifically tailored around getting these business goals achieved in small increments/ slow upwards trajectory. These competent managers will not work the employees into the ground, but they will know the fine line between knowing each individual’s button to press for motivation – ultimately getting things done.
Not only will they know exactly when to work the employees (knowing the right time to push hard) but they will also recognise when there is a time to zone out and recharge for a harder push down the line.
Successful companies know when to ‘have a laugh’ and then know exactly when they want to blow their competition out of the water with their unmatched skills in the niche.
People/Attending Mastermind Groups
To run your business, you will undoubtedly need people to assist you along the way. Whether you are a small business owner or a large business owner, going solo is not the way to create ultimate success.
Taking your hiring process seriously, and looking for positive energy and a skillset to match will be the first step in creating a profitable business. These people need to be able to present ideas and work through tough times (if it comes to it).
As you build up your business for the long term and the employees start to flood in, you must make sure the culture of these people is aligned with what you desire.
It doesn’t matter whether you’re selling a product or service, your company has to be pleasant to deal with and that is why hiring properly is crucial.
People who get along with each other within your business can speak to you about anything and ultimately having a feel-good factor around the workplace is vital. A happy workplace is a productive workplace.
Furthermore, with clients regularly visiting your workplace and you going out of the way to networking events and mastermind groups, you want to ensure that your customer service is of the highest quality.
Making people feel as though they’re welcome and supporting them where they need it is a gesture that shows extraordinary business processes. Also adding people to your business or relationships via mastermind groups (meeting online or in-person) is an essential part of growth.
If you’re not going out of your way to connect with others outside your business to learn more about your niche and field of expertise from previous successful people, it will be a gruelling process if you wanted to do it by yourself.
Learning from others’ mistakes and gaining golden nuggets of advice from other business owners will skyrocket your chance of becoming a successful entity.
Nowadays, it doesn’t matter whether you’re a brick-and-mortar business or an online entity – you must have a marketing strategy. Social media is more prevalent than ever and not using its tools and creative ideas to sell to your audience would be a disaster.
Your customers, no matter the niche, all have an eye for good marketing. Having a business plan for how you want to reach your audience using brand identity, brand awareness and the platform that your target audience uses the most is a great start.
For example, if you do research on your niche and they’re between 18-25-year-olds who use Instagram the most – you may wish to launch your marketing campaign on Instagram.
Without any money coming in, there is no business. Therefore, taking marketing seriously to sell your product or service in the most effective manner is paramount for generating the money to scale even further.
Content, sales, personality, etc all need to be thought out with a purpose. What is going to influence your audience to invest in your business? What is in it for them? These are some of the questions you need to consistently be asking yourself during the pre-production phase.
Without these three vital components put in place (excellent company management, correct people/ culture within the business and a well-informed marketing strategy) – the solutions to your problems will simply not be able to occur.
If you’re looking to start a business and become a successful business owner, you must remember that this growth may take time. Being an entrepreneur isn’t as easy as some people think and all this success requires a lot of knowledge.
Therefore, hopefully, during this blog post – you have learned more about what you need to implement into your daily life in order to add some value to your start-up or established business.
Now, we believe that learning is key… but putting all that you learn into action is ultimately what creates the results moving forward.
Consequently, if you’re genuine about making a difference, begin to add these steps of wisdom into your company and let us know how much of a contrast there is!
Mark is a multi-award winner in business networking and relationship building. He is passionate about coaching and mentoring business owners and professionals through 1-1 & group coaching, team performance workshops and group mastermind sessions.