To achieve
business success, it is essential to clearly define the objectives, the goals
to be achieved, and the strategy to fulfill this task. Let's start by pointing
out that there are five main elements that allow you to turn your business into
a great organization that you have to apply to be able to obtain the business
success. It is not enough to formulate imprecise goals like wanting to be profitable
or to make big profits. No, it is necessary to formulate specifics: such as
achieving a profit quantity during that year or achieving such a margin of
profitability through such a strategy.
Therefore,
the entrepreneur who intends to be successful requires the following aspects:
1.
Ideal client: You need to
be clear about the niche market and the customer you want to serve. Create a representation
of your client that contemplates their age, sex, profession, trade, direction,
aspirations, economic level, needs, and expectations. Define that perfect
client to which your organization aspires.
2.
Potential profit:
For this, it is necessary to establish your contribution margin is sufficiently
attractive to cover the fixed costs and expenses, as well as the payment of the
debts and the gain to which it is aspired. Your business has to be profitable.
3.
A good team: Those who
work with you have to form a competent, diligent and committed group with the
goals and objectives of the organization. They have to be fully identified with
the brand. So, hire the best talent you can afford, regardless of the size of
your business. When evaluating and measuring the performance of your staff you
should do so in terms of results and not hours worked.
4.
Understand and control your company: To do this, take advantage of the control tools
available that allow you to accurately establish the financial situation of
your company, as well as its results, production and margins of profitability.
Ensure that the organization's financial statements are ready by the tenth day
of each month. Also check the suitability of these. You should also use tools
that measure the results of every area of the company, as well as your
environment, competition and trends.
5.
Define where you want to be:
In a period of 5 or 10 years, set sales goals, as well as earnings and
accumulated wealth, expressed in assets, investments, lifestyle, and so on. Don’t
miss any detail, set short-term goals because you must know how much you aspire
to earn in a month, in six months and
in a year.
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