8 Steps to Success in Business

"Small business is the backbone of the economy" - I'm sure you've heard this quote or something similar many many times in the past. And it's certainly true. I know I've said it myself in various keynotes and presentations.

We've been working with business owners - in small, medium and large businesses - for over two decades. It's our passion to help businesses succeed with the right strategy, the right marketing, and more recently the right activities to ensure the business starts and is run successfully over time.

If small business is the backbone, what is the backbone of small business?

That's a great question to ask, if I do say so myself.

There is a backbone to small business. And it is made up of 8 parts.

We've checked the importance of these 8 parts and double checked them in surveys of over ten thousand business owners. That's a huge survey! And to put it in perspective when you hear the polls about which political party might win an election - it is based on around 1200 surveys.

So I like to think we've nailed down these eight parts as the most important to business owners. In fact I don't think, I know - because we see the evidence in every new and existing business and business owner we work with.

Ok, ok - no more delays - tell me the eight parts !! Ok I will.

Part 1 - Have firm goals in mind and a strategic plan to reach them. Make sure you can inspire and lead others to join you on that journey.

Part 2 - make sure you know your customers, your market, your competition. And translate this into a workable value proposition and marketing plan

Part 3 - be certain you can sell you product to one customer, then one more and one more until you have viable number of profitable customers

Part 4 - Make sure you manage your money well - money coming in, money going out, and the recording and reporting of these flows of cash

Part 5 - Be a good people manager - not just staff, but your suppliers, customers and stakeholders

Part 6 - Know the required quality standard for your product or service to deliver profitable sales

Part 7 - Deliver on your promises and actually provide helpful, easy to deal with service to your clients.

Part 8 - keep an eye on trends and be adaptable to changing conditions in your market.

I am confident if you pay attention to these 8 parts. If you have goals and aspirations in place for each part. If you build your skills in each area or hire smart people who are experts in these areas. If you have systems in place to plan and act in each area. That you will be successful.

Lots of businesses fail to keep a good handle on each of these eight areas. Failing to do so inevitably leads to failure.

There are no other parts to the puzzle and mystery of running a good business.

We cover these 8 parts in our Diagnostic Service, and our ongoing advisory work. Just ask a team member for more information or email us at info@consigli8.com.