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What Makes a Great Business |
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What
does ‘Great’ mean?
· profitable year after year
·
longevity
·
respected for achievements
·
contribution to society
·
fun place to work
·
style of business e.g.
integrity
What
would be your definition?
It is a difficult question
but I believe the answer lies with your
customers, your staff and you.
Let’s start with
customers. From the research I have done with my own
customers here are four factors, which in the minds of customers
would make your company great.
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Integrity
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Give fair answers to
difficult questions, honest and straight, dependable,
ethical. |
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Compassion |
Approachable, dedicated,
personal, always helpful and responsive, committed always
have time to discuss problems, and care. |
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Communication
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Good at listening,
expressing things in layman’s terms, lucid, good at
questioning, making it simple and grasping real needs
quickly |
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Delivering Products or Services that Work
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Delivers what is really
wanted or promised and that the solution really does the
job, persistent – sticks with any problem, practical, good
at problem solving, identifying the real problem,
technically competent, knowledgeable. |
Now consider what your staff
would deem to be a great company.
Again by enquiring of my own staff, here are four factors that I
have identified. Note, that the above factors for customers also
apply to your staff.
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Challenge and Variety
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Constantly doing something
new, always changing, constant challenge. |
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Doing Something
Worthwhile |
Doing something good and
worthwhile, feeling that they are really achieving
something. |
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Gaining
Skills and Experience |
Intellectually fulfilling
work, challenges all abilities and pushes comfort zones,
increases confidence, builds experience and continuous
education. |
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Influence
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Opinions valued, input
on what’s going on, have impact on success and involvement
in everything. |
All this leads to you staff
being proud
of their company.
Lastly, lets consider what
the owners or shareholders would deem as a great business.
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Survival |
Approximately 70% of
businesses have failed by year 5, so the first thing is
survival, to ensure their investment of money and time is
protected. |
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Profits |
A better than average
return for the type of business, year after year. |
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Enjoyment |
They’re and you’re happy
with their/your investment of money and/or time, the
customers and staff are happy. You love your work so much
that you can’t wait to get to the office each day. They’re
all smiling owners or managers. |
So what is your definition
of your great business? Then how would you progress to fulfil
all your great business criteria?
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An Evolutionary Business Handbook |
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