5 Things That Can Be Helpful In Success Of Your Business

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We are going to discuss 5 things that can be very helpful in success of your business. You can say it good habits for business. Don’t miss it if you want to be a successful businessman.

 

No single strategy is guaranteed to make your business a success.  Indeed, there are as many paths to success as there are dynamic businesses looking to find their way. But that doesn’t mean you have to fly blind when looking for your path.

 

Most successful companies have certain qualities in common. Here is a look at five attributes you’ll usually find in today’s leading businesses.

 

5 Things That Can Be Helpful In Success Of Your Business

 

Trust

It’s no coincidence that the most trusted companies are also among the most successful companies. According to the 2013 Harris Poll Reputation Quotient, Amazon.com, Apple, The Walt Disney Company, Google, and Johnson & Johnson have the best reputations with American consumers among the country’s “most visible” companies. Amazon took the top spot in the Harris Poll and, according to Harris, the trust Amazon has built translates into a powerful marketing force: “More than 50 percent of respondents also recall discussing Amazon with friends and family in the past year, and nearly 100 percent of these conversations were positive.”

 

Just as in your personal life, the best way to build trust is to deliver on your promises. Make sure your goods and services live up to their billing and your customer service team is ready to step up and promptly fix any complaints.

 

Great Training Programs

“Harnessing human capital” may sound impersonal, but it is an essential factor found in all successful companies. For instance, management consulting firm Accenture invested $850 million in employee training and professional development in fiscal year 2012 — which turned into more than 52 hours of average employee training a year. It was precisely this emphasis on training that led to Accenture being included on Fortune’s “100 Best Companies to Work For” list for the fifth consecutive year.

 

Investing in your staff builds trust between management and employees. A superior training program allows management to have faith in the team’s abilities while assuring the rank and file that the suits are looking out for their interests.

 

 

Focus on Mobile

By the end of this year, there will be more mobile devices on Earth than people. And a quick perusal of the latest statistics makes it very clear that mobile devices will begin to dominate commerce in the very near future. The year 2012 saw a gigantic surge in cashless payments, which shows that consumers are clearly growing more comfortable with mobile payments. We might not be a cashless society quite yet, but in the new economy, no business can compete without being able to serve people when and where they want to be served. Companies that don’t make the transition will find it tougher and tougher to survive, much less be successful.

 

 

Low-Cost Scalability

Most entrepreneurs want to see their companies grow, but fewer are prepared for the cost of growth when it happens. Create a business plan that accounts for future growth. There are many common mistakes made by growing companies, but not having a plan to grow quickly and efficiently can be a killer. eBay is an excellent example of a great company with low-cost scalability. eBay jumped into the mobile revolution early and strategized for growth accordingly. If you don’t have an efficient plan in place for growth, it will cost you dearly when you get there.

 

Flexibility

The business market is evolving at an unprecedented pace. Remember last year when doing business exclusively from a desktop didn’t make you a dinosaur? So far this century we have seen scandals, terror attacks, and technological revolutions that have changed the way we think and do business. And it often takes a while for a company to figure out its best business model. Twitter is a great example of how a company can pivot and reinvent itself. Companies that are not built to pivot in a new direction will quickly face a trajectory that goes a little something like this. 

 

There are, of course, no guarantees in the business world. Sometimes you do everything right, but the economy turns in the wrong direction. At those times, the most important thing of all is to stay focused on the long term — because if your company is excelling in the five areas mentioned above, you’re most likely on a path to great success.

 

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