Realizing that you own a company is often the

first step towards long-term success in business.

It’s more accurate and powerful to say you own a company.  When this piece of the puzzle falls into place it opens up effective strategies for getting the results you really want.

There is an emerging line of thought: people don’t own businesses.
What they actually own are companies that do business with markets.

If your customers can give you their business and they can take it elsewhere when they want to,
then clearly you don’t own it. Business is what your company does and the market is who it does it for.

Why is this important?

Business is like a river, it flows. Even if it’s the same client you never actually get the same piece of business twice.
A river of business flows through your company. It might be a stream right now, but as you strengthen your company it will continue to grow. People like to do business with strong companies.

Business-people should focus on building and managing strong companies that profitably deliver value.
It’s all too easy to get caught up in doing business and focusing on growth, but when the business exceeds the capacity of the company to deliver symptoms start to multiply.

Then, to use a metaphor, the owner is in danger of being caught in an avalanche of symptoms that drags them down into the Valley of the Lost Entrepreneurs. This is not a fun place to be. People are working too hard for low or no profits. They spend their time trying to keep their companies running.  They aren’t in a position to invest capital or their time in new entrepreneurial activities. They are in effect lost entrepreneurs.

There are an amazing amount of talented people stuck in the Valley. Many owners know their business inside out and backwards, but to achieve success in business they need to learn more about building a strong company. To make it even more challenging the business competes for their time every step of the way. It can be difficult to make time for strengthening the company, but the consequences of not doing it are ultimately more painful. Years can disappear.

The Most Effective Way to Achieve Success in Business

Get profitable now and stay profitable is Rock Solid advice. If you’re breaking even at one million in revenues and you think you need to get to two million to be profitable I’ve got some shocking news for you. Chances are good you’ll still be breaking even at two million. That happens more often than you might think.

The outlook changes when you focus on strengthening your company to profitably deliver value at one million and then plan your advance to two million. You’re much more likely to be achieve success in business with this approach. Profitable companies are a lot easier to manage and grow.

A quote by Oliver Wendell Holmes

I wouldn’t give a fig for simplicity this side of complexity,
but I’d give my life for simplicity on the other side of complexity.

When it comes to success in business simple ‘solutions’ don’t often yield lasting results. The reality is that the type of success owners really want – is on the other side of complexity. The good news is that it often appears more complex than it actually is because it’s a new type of challenge for most people. It’s the same when you’re learning almost anything that’s new. It gets easier to understand as you drill into it.

How to Strengthen Your Company

Company strengthening work is not hard work although it can be frustrating at times as you begin to make your way through it. Having a professional coach with a proven road map to follow is a definite advantage. Company Strength Program

To achieve success in business there are

Five Key Elements to work on:

• Define the value you want the company to deliver and ensure it connects to a viable business opportunity. That essentially means that there are enough people willing to pay high enough prices to allow you to build and grow your company. Both direct value and collateral should be included. Next, convert it into a Company Promise and ensure that your staff is focused on delivering on it: every single day, every single customer.

• Have a strategy to create and build the right momentum. The AR²T of Momentum efficiently addresses challenges and roadblocks. Every company faces challenges and roadblocks. Successful entrepreneurs have a well thought out approach for dealing with them.

• Build good financial information systems that support the choices and decisions you need to make. This is the number one skill for long term profitability. A lot of people are surprised by that. They might think cash is king, but experienced business-people know that information is everything. Lots of cash plus bad information almost always equals broke soon. A little cash and great information can often lead to success in business. Financial information is about numbers and business is a numbers game. Strong companies have excellent financial information systems.

• Develop a system for systemizing your company and a plan for creating accountability with your team. Rock Solid’s Company Accountability Matrix is a very efficient approach. When someone complains about their staff not being responsible or communicating well I always ask: what’s your plan for creating responsibility in your team? I get a lot of blank stares like I’m asking a trick question. Really it’s just a straightforward question. Business-people that can reply with a straightforward answer are a lot more likely to achieve success in business. Strong companies have solid plans for developing systems, accountability and responsibility.

• Create a marketing plan that effectively connects your company with the right customers.
The BRIDGE Marketing Program delivers a six step process for developing a great marketing plan. Business is a numbers game, but marketing is a contact sport. Strong companies cross the bridge and make effective contact with their prospects. They go after the business that is right for them.

With the Five Key Elements in place you will be confidently in control of your company.

To read more about the Five Key Elements click here.

I hope you liked this article on how to achieve success in business.

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