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Success in Business
Every enterprise is different but successful businesses, regardless of their size, share some common traits:
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Communicating a clear vision
to all shareholders both internally and
externally.
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Structured procedures
supporting all strategic and operational plans.
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Financial road maps
supporting all business units.
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A well-established and
researched budget that represents a stretch but
is achievable with the resources on hand.
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A passion for the product and
a culture that supports excellence in customer
service.
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Leadership and discipline,
which is coupled to the execution of the
business strategies.
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A plan for continuous
improvement. Staying ahead of competitors,
planning for the future and embracing the change
that this will bring.
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Sales and Marketing
strategies based on an understanding of customer
behaviour and market developments. Marketing
outcomes are measurable and have some inbuilt
flexibility.
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Value and respect for the
people in the business.
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Flexibility in the work place
and an understanding of peoples need for
work-life balance.
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A positive company culture,
allowing for training & learning thus
creating an environment where teamwork is
encouraged.
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Hiring and retaining good
people as part of the overall business plan.
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A team of trusted consultants,
advisors and mentors that support all levels of the
business. Preferably, these are external to the
business and provide the opportunity to act as a
sounding board. They will ask challenging
questions and support difficult or risky
decisions.
Small businesses have vastly different needs to large businesses from the staffing and skill base of employees to structure and financial requirements of the enterprise to the level of technology they employ to deliver their products and services. Many small to medium businesses may find that they struggle to achieve the next growth step simply because of a lack of strategies and advice that allow the growth to occur.
Over the past years, we have observed many businesses that grew to become a large enterprise but still operate almost as they did when first started. In part, this may be a direct reflection on the business type or industry sector. However, more often than not, many of these growing companies may find that their rate of business growth has outpaced, or their size has outgrown their existing operational systems and structures, thus hamstringing them to reach their full potential, causing frustration to the business owners and employees alike. With sound planning, communication, implementation of systems and procedures and awareness that change requires management, the journey of growing your business becomes enjoyable and is infinitely easier. |
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