Why Businesses Succeed
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Free PDF Download Living on The Edge of Chaos... - By Ron Finklestein |
I found three things that inspired me and helped me understand that the small business market in NEO is alive and well. Companies that are doing well exhibited three primary behaviors: the business owner exhibited a positive attitude, the business created and implemented a sound business strategy and they had the discipline to they focused on the strategy.
The attitude of the business owner is the single most important principle described in the book. The owner must accept 100% of the responsibility for the results of the business. When responsibility is accepted, action can be taken to make the necessary changes to accomplish the desired results.
When success is achieved, these owners are generous in giving credit to others within the organization. Without exception, the most successful business owners understand it is all about people: hiring and retaining the right people, eliminating ineffective people, and providing the necessary resources for employees to master their tasks.
Having and implementing a sound business strategy is next. A large complex strategy is not necessary; a one page document will do. However, the business strategy does need to be well thought out, carefully crafted and well executed. The business strategy will define and drive the activities and behaviors the organization must execute to become successful. If you do not have a business strategy, the organization becomes like a ship without a rudder – it can’t be steered – it just goes in circles. A business strategy should include such things as: a financial plan, marketing differentiators, product strategy, and employee retention strategy, etc.
The other two attributes become much more effective when discipline is in place. Discipline can be defined as “staying the course,” and executing the strategy. The most successful companies understand the value of discipline and they work hard maintain the course defined by the business strategy.
A poorly crafted business plan that is well executed is far superior to a well-crafted business plan the sits on the shelf.
Discipline is not overreacting to market changes, staying focused on your core markets, and measuring success as defined in the business plan.
Business success is contingent on these three principles: attitude, strategy, and discipline.
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Free PDF Download Living on The Edge of Chaos... - By Ron Finklestein |
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About the Author: Ron Finklestein RSS for Ron's articles - Visit Ron's website http://www.businessgrowthexperience.com. Ron Finklestein Small Business Success Expert 330-990-0788 info@yourbusinesscoach.net Ronald Finklestein, President of RPF GROUP INC, small business success expert, business coach, consultant, speaker, author, and trainer, has published three business books: 49 Marketing Secrets (THAT WORK) to Grow Sales, Nine Principles for Inspired Action and The Platinum Rule to Small Business Mastery. Order your free eBook called Six Questions Your Prospects Want you to Answer Before they Buy at http://www.businessgrowthexperience.com. Check out http://www.aboutbusinesssuccess.com Click here to visit Ron's website. Do you lack Resources Why Businesses Succeed Are You Trustworthy Living on The Edge of Chaos What is the value of your network or how much value do you provide |
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