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The Ten Keys to Business Success

Ten Keys to Business Success!

There are ten critical areas where your ability to think largely determines the success or failure of your business. The greater clarity you have in each of these areas, the better decisions you will make and better results you will achieve.


Key Purpose

Business success means purpose. What is the purpose of a business? Many people think that the purpose of a business is to earn a profit, but they are wrong. The true purpose of a business is to create and keep a customer. Fully 50 percent of your time, efforts, and expenses should be focused on creating and keeping customers in some way.

Key Measure
The key measure of business success is customer satisfaction. Your ability to satisfy your customers to such a degree that they buy from you rather than from someone else, that they buy again, and that they bring their friends is the key determinant of growth and profitability.

Key Requirement
The key requirement for wealth building and business success is for you to add value in some way. All wealth comes from adding value. All business growth and profitability come from adding value. Every day, you must be looking for ways to add more and more value to the customer experience.

Key Focus
The most important person in the business is the customer. You must focus on the customer at all times. Customers are fickle, disloyal, changeable, impatient, and demanding--just like you. Nonetheless, the customer must be the central focus of everything you do in business. Remember, we are only in business because our customers allow us to be!

"Out-Think, Out-Market and Out-Sell the Competition"
Clear planning and goal setting are essential to seeing your business succeed.

Turbo strategy will help you revitalize your business and personal life and help you achieve the results you're looking for to make your business dreams become reality!



Key Word
In life, work, and business, you will always be rewarded in direct proportion to the value of your contribution to others, as they see it. The focus on outward contribution, to your company, your customers, and your community, is the central requirement for you to become an ever more valuable person, in every area.

Key Question

The most important question you ask, to solve any issue, overcome any obstacle, or achieve any business goal is "How?" Top people always ask the question "How?" and then act on the answers that come to them.

Key Strategy
In a world of rapid change and continuing aggressive competition, you must practice continuous improvement in every area of your business and personal life. As Pat Riley, the basketball coach, said, "If you're not getting better, you're getting worse."

Key Activity

The ten keys to business success! The heartbeat of your business is sales. Dun & Bradstreet analyzed thousands of companies that had gone broke over the years and concluded that the number-one reason for business failure was "low sales". When they researched further, they found that the number-one reason for business success was "high sales" with excellent returns on profit. And all else was commentary.

Key Number

The most important number in business is cash flow. Cash flow is to the business as blood and oxygen are to the brain. You can have every activity working efficiently in your business, but if your cash flow is cut off for any reason, the business can die, sometimes overnight.

Key Goal
Every business must have a growth plan. Growth must be the goal of all your business activities. You should have a goal to grow 10 percent, 20 percent, or even 30 percent each year. Some companies grow 50 percent and 100 percent per year, and not by accident. The only real growth is profit growth. Profit growth is always measurable in what is called "free cash flow." This is the actual amount of money that the business throws off each month, each quarter, and each year, above and beyond the total cost and expense of running a business.

Action Exercise

The Ten Keys to Business Success! You should have a growth plan for the number of new leads you attract and for the number of new customers you acquire from those leads. You should have a growth plan for sales, revenues, and profitability. If you do not deliberately plan for continuous growth, you will automatically stagnate and begin to fall behind. Growth is not an accident; so you must plan and map out your growth plan if you want your business to see a bright future.

Take on board 'Accelerate with Impact' - ISBN: 978-1-84549-289-2


More Economics and Business Inspiration:
`Accelerate with Impact` -
by Colin Thompson ISBN: 978-1-84549-289-2

Useful Publications -

`Strategic Leadership to Raise the Bar`

`Reach Your Goals`

`Create Your Own Success Story`

`Accelerate with Impact your Business and Personal Growth`

`The Hidden Overhead`

` Quantum Leap to Success`

` Recession - Busting Solutions`

` Driving the Business Forward`

`Formula for Success`

`Boost Your Business`

`Riders of the Storm`

`The Road to Success`

Plus many more from...http://www.cavendish-mr.org.uk

Accreditation: UK Registered Learning Provider:10025755

Our mission is two-fold: first, to offer insights that enable people to discover both their personal and business potential; and second, to do so in a fun and effective way that fosters connection and community. We do this via business consulting, publications, seminars and speeches.

We can all choose to walk a path with heart and accountability. Our work can support our path to be one of personal development, contribution to society and positive `bottom-line` results.

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ENDS
Note: About the Author Colin Thompson

Colin is a former successful Managing Director of Transactional/Print Manufacturing Plants, Print Management/Workflow Solutions companies and other organisations, former Group Chairman of the Academy for Chief Executives and Non-Executive Director, helping companies raise their `bottom-line` and `increase cash flow`. Plus, helping individuals to be successful in business and life in general. Author of several publications, research reports, guides, business and educational models on CD-ROM's/Software and over 400 articles published on business and educational subjects worldwide. International Speaker and Visiting University Professor.
The Ten Keys to Business Success!

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Comments on this item:

Elligoulding
11-12-2016 09:04:16
A strong monitoring towards the forthcoming changes in the current marketplace and the strategies fording a great business will determine the success or failure of any business.The essay on time is helping the marketers for the improvement of the market place.There are many tips on improving the quality of the modern business.
 


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