Tips for Building a Thriving Business
You have to compete and work hard to grow your business. The time has changed and all want to progress at a rapid pace. When looking for more business, keep the following points in mind;
• As a manager you should remain ready on your feet so you are able to move quickly to take advantage of any sudden opportunities; even if they only affect short-term profitability, as long as they increase long run profits. Often in business opportunities pop up suddenly. There should be procedures and actions ready for an instant response to catch more business.
• Senior managers gradually lose touch with the day to day activities taking place under them. These results in a disconnect from what they think is happening and what is actually happening and can result in a mistaken belief of the capacity to deliver of the business. Managers should know their business by taking part in the activities you sell.
• Never fall into the trap of hiring people and then finding them things to do. No matter how attractive a candidate may appear, if he or she does not have the skills required by your business, let them go. Build your people around the business, not the reverse.
• In business, success is never guaranteed. No matter good your product or service may appear coupled with a superb pitch, the final decision lies with the customer and, once he has decided, then it is final. Rejection and failure are all part of the journey; what is important is that lessons are learnt for what does not kill us makes us stronger belief in that will make you stronger and help develop more business .
• Look for opportunities even in places that other people see danger and risk. Gradually, the easy picking will finish and only the tough nuts will remain, just because they are tough does not mean that they should be ignored. Plan and apply risk management strategies and, you can find more business in the most illegally of places.
• Make an effort to travel and see how others are doing your job, if necessary travel overseas to see what businesses are doing well in different countries. Bring back this knowledge and see what is applicable in your own unique case.
• Remember that you are not a machine whose parts can be swapped out when you breakdown. Look after yourself, both mentally and physically. Work on yourself before your business; because, no amount of wealth can replace your health.
• After your health comes your family; failing to take care of your family can create disharmony and additional tension and from being a support group your family becomes a liability. Have a healthy balance between business and family life.
• In business, remember that the sky is the limit. Do not fall into the trap of underestimating your own and your businesses ability to deliver or manage a project.
• Surround yourself with good wisdom and advice. Remember, garbage in garbage out; the better advice you have, the more likely you will come to the right decision.