OfficiaNet - Knowledge Base
Keys to Business SuccessYour ability to think, analyse and make decisions based on the results are the key determining factor to business success. Business Success is about getting things right, but also of learning from mistakes. Product/ServicesHow well do you know your product/services? What differentiates it from those of your competitors? How well are you able to communicate its value to your existing as well as potential customers?Finances/Cash Flow/FundingA fundemental key to business success is through financial controls and good budgeting. Successful companies use accurate book-keeping and accounting systems. Making sure your organisation has access to the right level of funding to maintain sustainability as well as any future developments.Your Market and MarketingHow well do you know your target market, who are they, what do they do, how do they think? Business is about exchange, and key to this is meeting the needs of your clients/customers. Your entire organisation should think about satisfying customer needs at every point of operation. Business is done through and with people. "Profit" is merely the result of creating and keeping a sufficient number of customers in a cost-effective way.StaffMake sure your staff are trained to perform their work to the best of their ability. Define clear roles whilst explaining each persons part in the "bigger picture". Reward success, but make sure that everyone has access to any reward system, not just sales or management. No matter how big you grow instill a "small company ethos" into your staff, where employees have a sense of "ownership" and are engaged in the day-to-day business where they feel they have some control over their destiny, autonomy and respect, and they feel rewarded for their efforts. |
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