The 3 Most Critical Components to Building a Business
Succeeding in business is often a combination of ingenuity, hard work, perseverance, and, yes, even luck. But there are a few things you can do to ensure that the odds are in your favor. Here are three things that are absolutely vital to building a successful business.
1. You must be passionate about your business! This level of passion requires genuine commitment and belief in your company’s mission. If you aren’t passionate about what you do, you can’t expect your employees to be passionate. Passion is contagious! Unfortunately, a lack of passion is also contagious. Without passion, neither you nor your employees are going to present a positive image to your customers. Passion starts with the business owner!
2. You must build a unique culture that identifies and recognizes your top-performing employees. This can be a formal process but, it has been my experience that an informal process can be much more meaningful to the employee receiving the recognition. If you want more of “IT,” reward “IT.” Here are a few ideas:
- small gift certificates for meals or entertainment
- a small surprise bonus
- an unscheduled day (or afternoon) off
- a small office celebration recognizing an employee’s achieved goal
3. You must strive to exceed your customers’ expectations. No matter what product or service you deliver, make sure that your business exceeds your customer’s expectation. Or go even further, PROVIDE FOR YOUR CUSTOMERS DESIRES AND UNRECOGINZED NEEDS. If you can achieve this level of customer satisfaction you’ll turn your customers into a network of testimonial-providing fanatics. The best salesman you’ll ever have is an enthusiastic customer that is thrilled, and beyond, with you and your business.
READ MORE FROM AMERICAN COMMERCIAL CAPITAL
Business Video Roundup: Hiring, Empowering Employees & Selling Internationally
“Empowering people to make decisions is how you scale,” Gary Vaynerchuk argues in one of this week’s essential videos for entrepreneurs and business owners. He advocates giving trust to employees rather than waiting for them to earn it. Also on deck: Brendon Burchard gives a two-hour live training session on hiring and building teams, Brian Tracy offers tips on how to build a brand and sell products internationally, and the…
Business Video Roundup: Valuing Your Team, Firing Employees & Selling Your Business
This week’s video roundup explores a range of business topics, including how to sell your business at the highest possible value, why firing someone is sometimes beneficial for both parties, and how to decide when to quit the day job to fully pursue your business venture. Plus, Fulton Grace Realty founder TJ Rubin discusses the benefits of giving up some control to others and Kevin O’Leary talks about the necessity…
Business Video Roundup: Dealing with Bad Clients, Creating a Productive Workplace & More
In this week’s roundup of great videos for entrepreneurs and business owners, Evan Carmichael offers thoughtful advice about dealing with bad clients, the CEO of data-aggregation firm Innoplexus talks about how driving innovation translates into success, and Gary Vaynerchuk delivers a passionate keynote at the National Achievers Congress in the Philippines. During his speech, Gary Vee gives his thoughts on the current state of business and entrepreneurship, pulling no punches…
