Business Blog

4 Essentials of a Successful Business

By Brandon Schaefer March 3, 2020

You have deadlines approaching, goals you still want to hit, and final profit margins you hope to exceed. All of these things can be overwhelming and leave you doubting if you can achieve it all.

Oftentimes, the best way to regain focus is by coming back to the essentials of what it takes to be a successful business and business leader.

Here are four critical tools to set you up for not only daily success but long-term success in the years to come... 

 

The 4 Essentials of a Successful Business & Business Leader

 

1. BRAND: Identity and Calling

Nothing is worse than following a leader who doesn’t know where they are going. Make sure you have defined and articulated your vision and values so your team has a brand they can get behind.

Takeaway Tip: Ask your team what the vision and values of the company are and have them provide an example of how they are being executed. This will give you an idea how well you have communicated your brand.

 

2. CULTURE: Healthy and Productive  

At the heartbeat of any healthy and growing organization is a leadership engine that trains and develops people to their full potential. Begin working on creating a culture of coaching, mentoring, and training in order to see your team advance and succeed further.

Takeaway Tip: Identify your top 3-5 leaders who have shown the greatest potential and then make a plan to intentionally invest in them. Click here for some other ways that you can create a healthy culture.

 

3. MARKET: Satisfied and Growing  

Every business leader knows that in order to deliver an exceptional product or service you must first understand your market and the needs they have. Look for opportunities to meet them where they are at, but also identify those future needs which even they might not realize.  

Takeaway Tip: Take time to survey your current and potential clients. Ask them questions that will better help you serve them and meet their needs.

 

4. LEADERSHIP: Engaged and Owning It

If you are hitting your target on the above three essentials then lastly, it's important to make sure you're continuing to allow your team to “weigh-in” so they will “buy-in”.  As a leader, you don’t want to solely tell your team what to do but also engage them in the process so they can take complete ownership of it.

Takeaway Tip: When leading meetings, be the last to speak and allow time for each team member to share their idea and give their two cents. It may seem like a little thing, but the reality is people are more bought in when they are heard.

 

Are you living out the 4 essentials of business? What are some small changes you can make to start? 

 

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