What successful business does to be successful

How does a small company become successful? It is such a provocative question that it prompted me to do some research. Despite the bad news we so often hear about businesses closing or moving, I found some encouraging news. After interviewing and working with many small companies, common trends began to emerge regarding what they did to be successful. There are a total of fourteen principles and the successful companies implement most, of not all of these principles: attitude, sales, business strategy, marketing, information technology, risk taking, process improvement, company culture, work-life balance, customer service, finance and budget, general advice, discipline and training.

Customer Service: Simplified defined, customer service is about taking care of the customers. Many companies integrate customer service into their culture through training and the design (and frequent redesign) of relevant business processes. In most cases, the business plan dictates how they provide customer service.

Attitude: You must have a positive attitude and accept 100 percent 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. Then, when success is achieved, you 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.

Business Strategy: A large complex strategy or business plan is not necessary. A simple one-page document will do, but it should be well thought out and well executed. A poorly crafted business plan that is well executed is far superior to a well-crafted business plan the sits on the shelf. It defines and drives the activities and behaviors of the entire organization. Without it, the business becomes a ship without a rudder; it simply can not be steered and goes in circles. A strategy should include a financial plan, marketing differentiators, and product strategy as well as employee retention.

Risk: Business owners are not afraid to take calculated risks with clear outcomes in mind. Most owners who take risk do so because they realize the need to change as the economic climates changes. Each knows it is disastrous not to embrace change.

Successful business leaders understand that being in business is about managing and responding to change. Companies that succeed embrace change and respond to challenges presented by the market, the competition or changes in general business conditions

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