From the outside it may seem that every business has a different recipe for their success. Whether that’s technology, staffing, a great product, or leader who knows exactly where they want their team to go. But three decades in the business coaching industry has proven to me there are key elements every successful business shares. Here are the five secrets of business success.
Describe it as dreaming or note it as goal setting, successful businesses have the ability to look to the future and consider where they want to go. For some business owners that goal will be financial, for others it’s about lifestyle, and for others still it’s about market share or domination. But regardless of the goal, it’s about determining an achievable outcome in the future.
Dreams and goals are just words without planning to fulfil them and this is where every successful business has some kind of plan to get where they want to go. In small business it’s that vital document, the “business plan”, for corporations it’s the “strategic plan”, but this critical piece of paperwork is the blueprint to achieving goals. It sets out and crystallises who you are as a business, where you are and where you want to be, giving it clarity and achievability.
While a business plan is the overarching document that sets goals for your business, the strategies it engages are the paths to get there. And every successful business identifies the routes they will take to get to their destination. These are the systems and procedures that will take you where you want to go – the “how to” behind the “what” and the “where”.
Any business is only as successful as the people within it, which means great staff are a key ingredient to business success. But they must also be given the tools to fulfil their job role and tackle any challenges, and this is via communication and involvement. Successful businesses share their vision with their staff, communicating where they plan to go and how the strategies and procedures needed to get there.
Involvement is not just about staffing, however. It’s about utilising the right people to help steer a business at the right time. Successful businesses know when to call in the experts to help out, and they’re not afraid to do so – whether that’s an accountant, a lawyer, recruitment firm, the bank manager, or business mentor.
Goals, dreams and plans change over time, and it’s important they are revisited regularly to gauge progress and to shift tack if necessary. This is done by measuring outcomes against your business plan and procedures, then revising the destination, route and strategies to incorporate new outcomes. That revision may be based on changes in your industry, changes in technology or just changes in your ultimate destination. But regardless it’s a realisation that business is a living entity which will evolve over time.
Clive Enever – the Business Mentor has worked with small and medium businesses for over 30 years, helping them realise their dreams and achieve success. To learn more about how he works with business see here.