Community//

What the Minority of Successful Companies know that Others don’t

Where is your business success? In today’s global marketplace, there is a seemingly endless number of businesses to meet virtually every need imaginable.

The Thrive Global Community welcomes voices from many spheres. We publish pieces written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Community stories are not commissioned by our editorial team, and though they are reviewed for adherence to our guidelines, they are submitted in their final form to our open platform. Learn more or join us as a community member!

Where is your business success? In today’s global marketplace, there is a seemingly endless number of businesses to meet virtually every need imaginable. While there are many profitable organizations worldwide, many others start out struggling and fizzle out quickly. Despite extensive planning, incredible passion, and the most grandiose dreams of business ownership, most businesses simply do not survive the competition when there are no workable business strategies in place.

Not much time to watch your dream finally realized, then quickly fade away into oblivion. So, what do the minority of successful business owners know that others don’t?

Something sets them apart from the rest, but what exactly is that “something”? Those are interesting questions, and the answers are crucial for anyone with the vision and goal to get to the top. In this article, we will name some business strategies that will help make your business profitable and keep it afloat.

Have a Crystal Clear Vision

Have a vision, a solid business strategy, of where you want your company to be in 1 month, 1 year, and several years down the road. While that is a start, simply having a vision is not enough, no matter how awesome you think it may be. If your vision is crystal clear to you, but foggy to your potential customers, you have accomplished little, if anything. Everyone from employees and partners all the way down to customers must see the same vision. Make it simple. Everyone who “touches” your business needs to know what you stand for, why you are different, and why they should choose you above the competition.

In addition, many successful companies tie their vision to tactical goals. Once achieved, they give rewards, recognition, and additional compensation to employees. This strengthens their commitment to the organization and their desire to help their company succeed, which strengthens the company from within.

Develop Structural Solutions to Common Problems

Next, it is vital to have a clear structure within your organization. While this may sound obvious, you may be surprised at how many companies are lacking in this fundamental building block to success. Be proactive, so when a problem arises you will have already have thought through business strategies to solve it. Systematically attacking reoccurring errors and finding probable solutions will help in two ways: your employees will know how to work through the system and thus be and more satisfied with their work, and when problems get solved quicker it leaves more time for actual work.

Make it Visual

Another tip to get to that top-level is to take advantage of the many aspects of the human brain. Don’t just write a boring document, paint a picture to explain key issues; change numbers into graphics, and other engaging visuals. This will not only help in envisioning errors, and troubleshooting potential solutions, it will demonstrate the areas in which you are already doing well. It is much easier to see a pattern or trend — whether positive or negative- when you set out data in a graph or line, or even a picture, so having visual aid can help in spotting a problem or failure within your organization before it is too late.

Empower Your Employees and They Will Empower You

Your greatest asset is your human capital, or put more simply, your employees. Train them well. Treat them with dignity, respect, and appreciation and they are likely to give the same to you (and your business).

Motivate them, acknowledge their successes. Tactfully address their shortcomings and you will create a powerful workforce that is committed to your success. Your employees can make you or break you. They can sing the praises of your business or slander it. They know your business, so they are the ideal people to come up with new and improved workflow processes, address innovative ways to address customer complaints and strengthen your brand. Above all else, value your human capital and work alongside them to realize the success you seek.


Share your comments below. Please read our commenting guidelines before posting. If you have a concern about a comment, report it here.

You might also like...

Courtesy of Billion Photos / Shutterstock
Community//

9 Surprising Signs Your Small Business is Headed for Disaster, and What You Can Do to Turn Things Around

by Shanna K Goodman
Community//

Growing Your Business Doesn’t Start With Marketing

by Dee French
Community//

The 8 Reasons You Aren’t Getting Where You Want To Go In Business

by The Our Shawn McBride

Sign up for the Thrive Global newsletter

Will be used in accordance with our privacy policy.

Thrive Global
People look for retreats for themselves, in the country, by the coast, or in the hills . . . There is nowhere that a person can find a more peaceful and trouble-free retreat than in his own mind. . . . So constantly give yourself this retreat, and renew yourself.

- MARCUS AURELIUS

We use cookies on our site to give you the best experience possible. By continuing to browse the site, you agree to this use. For more information on how we use cookies, see our Privacy Policy.