8 elements of successful businesses
  1. Leadership
    This means creating and having a vision or goals. Where are you headed? What are you doing all this for? It doesn’t matter what it is. What does matter is that it’s something that turns you on and that you communicate it.
  1. Planning
    Planning is essential. It is the process that turns your vision and goals from a good idea into something that can be realized; from a 5 year business plan to “what am I going to do next week.”
  1. Financial Management
    Every healthy business needs to have financial targets, and a system for tracking them weekly, monthly and annually.
  1. Structure/Organization
    This means having systems and procedures in place, everything from the phone and computer equipment to the reports and the people that allow for the growth of your business. The bottom line here is that if you want your ship to come in… you must first build a dock!
  1. Sales & Marketing
    Sales and marketing should be your top priority, not something you do when time allows or the bank balance is low. To develop a thriving business, you must do sales and marketing on a consistent and steady basis.
  1. Customer Service
    It costs 6 times more to get a new customer than it does to keep one. It therefore boils down to 2 things – every time a customer gives you their business, it’s a gift, and you acknowledge and honor the gift by providing great service.
  1. Research & Development
    In order to stay on top of your profession, you must be aware of new information and techniques in your field, and what customers are asking for in the marketplace.
  1. Personal Effectiveness
    This includes how you manage yourself and attain a healthy balance in all aspects of your life. You are the only irreplaceable resource in your business; you need to take great care of yourself.

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