The most common methods for assessing the growth and success of a business are related to money - sales, income, cash flow, profit and loss, etc.
Money is important - not a question. The main reason for business is to make money. When you start, you need enough money to keep your business open until it becomes profitable. From your first day you need to pay attention to cash flow and profit. Having all the money you want and need, improves your business life and your personal life.
However, the result is money — even initial money. Money grows and money is earned as a result of the quality and effectiveness of people, structure, leadership and communication associated with the promotion, protection and operation of your business.
Successful businesses occur when the right mix of people, structure, and leadership is achieved. Very successful enterprises occur when leaders establish, cultivate and expand an environment with high confidence, as well as constantly monitor and increase the effectiveness of internal communication.
Pay close attention and constantly evaluate these four key areas that contribute to business growth and success. Take advantage of every opportunity to improve them.
People: If you own a lone wolf or solo preneur business, or you have employees, proper participation with other people is absolutely necessary for your success as an individual and your business success.
• Attracting the right people
• Attracting the right people
• Screening and rating of applicants
• Effective interviewing
• Attracting the right suppliers, contractors, consultants, etc.
• Hiring the right people
• Efficient fit / assimilation
Structure: We all want freedom, but to be truly successful, we need structure in one form or another. This is a fact of life that we all do better with the right leadership.
• Clear statement of your goal / mission
• Clear statement of where you led the business vision
• Clear and complete policies and procedures - regardless of whether it is a single line or a comprehensive reference, the content should be very clear and understandable, as you assume, it should be understood.
• Clear expectations based on results - answer the question “How do I know that this person is doing well?”
• A complete list of the values that guide your business - standards, principles and beliefs that you refuse to compromise
• Clear and complete work systems
o Hiring
o Training
o Sales and marketing
o Order fulfillment
o inventory management
o Customer Service
o Communication management
o Performance evaluation and
o More
• Excellent management and supervision
o Delegation
o Mentoring
o Creation of productive groups
o Facilitating efficient meetings
o Growing employees and
o More
• The right tools, equipment and resources.
• Opportunities for growth and advancement
Leadership. To achieve a goal or result, everyone who is involved in achieving a result needs someone to trust to lead the way.
• Announced Leaders
• Directed executives
• Natural Leaders
• Leadership skills
• Leadership Attributes
o Daily example of goals, values and behavior
o Creating and expanding an atmosphere of trust
Communication: the best ideas, the best products, the best processes, the best systems and much more only fully realize their potential with proper use of effective communication.
• General communication skills
• Behavioral communication skills
• Specialized communication skills
o Facilitating meetings
o Presentations
o Sale
o Submission of complex objects
o Problem solving
o Conflict Resolution
o More
But it is a lot, but efficiency in everything that is mentioned above is absolutely necessary for success in business.
The good news is that you don’t have to learn it all at once. The best way to learn is to constantly monitor and evaluate your business and do everything possible to get every chance.
