Business Development: 21 Reasons For Business Success

by Mark Salmon on 23/09/2009

Here are 21 reasons for business success (or do the exact opposite and you will also have 21 reasons for business failure!)

Have a clear mission.

A Guiding Light
Your customers are your top priority
Patience – your ability to take a 20 year view
Stick to your knitting – avoid pointless diversification
The ability to focus on the 20% that brings in the 80% i.e. the ability to focus on priorities
Your business has a clear competitive advantage i.e. it is at least 10% better, cheaper, faster or nicer than the rest.
Your product is suited to your customers requirements
You have excellent quality of products and support.
You have the ability to target and locate your customers i.e. you operate in a market niche.
You use proactive as well as reactive selling.
You have a complete marketing strategy and an excellent sales programme.
You have qualities of leadership, integrity, competance, commitment and persistence.
Good working capital management.
You have the ability to analyse and respond to trends and changes in the marketplace.
You have tight control of overheads.
You have a complete business plan.
You have good accounting records, good budgeting and tight control of cash.
You focus on action which gets results.
Your actions follow decisions based on collection of relevant information.
You have good relationships with staff due to excellent communications and an empowering relationship.

There are links above to other pages on my website that can help to improve your business.