5 Business Strategies To Build A Stronger Company

5 Business Strategies To Build A Stronger Company

Business success is about many different individual elements coming together at just the right moments. As a CEO, founder, entrepreneur or business owner this includes leadership, management and how you think. What you think about daily leads to your individual success and to the success of operating a stronger, more competitive company.

If you only show up to work every morning, put the key in the door and then just get busy or caught up in the daily routine, you will not reach the goals you aspire to or dream about since day one of starting the company. You’ll just stay stuck in the same place doing the same thing every single day over and over and over without ever developing or growing the company. As a CEO, founder, entrepreneur or business owner it will be tough to maintain a competitive edge.

My goal with this article is simply to get you to think. To inspire your thinking to build a stronger company.

Why?

Because business success begins with how you think. If you are not thinking correctly, you will not be as successful as you would like to be operating your company. You will not enjoy the success you deserve.

Here are 5 business strategies to build a stronger company:

  1. The Future: Take care of what requires your attention today but always look to the future. Stay focused on the big picture. Keep the vision you have for the company front and center in everything you do. If you lose sight, at any time, of the vision you have for the company you will lose your way on the pathway to business success. There are many opportunities for distraction in your business day. Ask yourself questions, such as:

 

  • What is the direction of the company?
  • What do I want to accomplish?
  • What’s on my mind today?
  • How can the company be better than the competition?
  • How much profit do I want to earn from the company?
  • What do I want people to experience – as employees and as customers?

But to look forward to the future of your company you need to always look back to where you were as well as where you are today.

Ask yourself:

 

  • What didn’t work?
  • What isn’t relevant now to the business that may have been previously; and needs to be updated or eliminated?
  • What specifically has made business boom?

Remember: Look back to look forward.

1. Always Make The BIG Bet. Picture this: Your business has no major problems. It’s making a significant business profit. One day you say to yourself: I’m willing to take a bigger bet on my business. I’m willing to put the chips down and roll the dice. I can take this BIG bet because I can afford to. I’ll hire another person or two for the sales team. Expand the business. Update the company website and revamp the marketing plan. Sounds great! Exciting! Doesn’t it? It certainly can be a boom to your business when you take a risk on a big bet. But remember… Never to the point when you literally put the company’s fate and future at risk. If your BIG bet on the business fails, you will ultimately lose BIG. Take calculated, well thought through risks. If it doesn’t work out quite as planned the business can take the hit, learn from it and manage it into other avenues of success down the road. If you don’t go for the BIG bet on your business at the appropriate time, you’ll never build a stronger company.

2. Build A Solid Foundation. To build a stronger company, as a CEO, founder or business owner, you need to start with and continuously build upon a solid foundation. Just as a house or the structure your company is headquartered at must have a strong, solid foundation to safely and adequately provide space to you, your family or employees and customers for many years to come. To build a solid business foundation, you can’t have a job where you just happen to have a title such as CEO, president, founder or business owner. Yet many companies operate on this premise. You need to be a leader. As I always say:

3. Leaders lead. True business people don’t consider what they do a job. They don’t just run from one thing to the other and then do something else all day long on a continual basis. If you are doing this and not able to give your company role the thought and time necessary to create the strategy and maintain the vision, then reconsider what you are doing. The foundation of your company will eventually begin to crumble. You don’t want your company to fall into a sinkhole figuratively speaking like you sometimes hear about in the news with houses. Think about how you can organize your company, so you can hire and place people to take charge of aspects. Do you have an assistant? Hiring an assistant can prove invaluable to help you build a stronger company and help manage your business days more efficiently.

4. Share Your Company Vision. Your employees, customers, and business associates need to know where you see the company going. What direction you’re taking the company and why. People need to know what you are thinking and visualizing. Then you need to allow for questions, feedback, ideas, advice as to how other people can assist you in achieving your company vision with strategies to build a stronger company. Welcome and encourage participation from others. Yet respect your role as leader and final decision maker of the company. Finding the right balance is key. You can’t just say, “Do what I say”, and expect total cooperation in today’s workplace. It creates resentment not progress towards goals, both individually and collectively. Get people to believe in what you are wanting to accomplish with your company vision, so everyone will be on board and want to work with you, not against you.

5. Surround Yourself With The Best Possible People. To build a stronger company includes having the best possible people – employees, advisors, attorneys, accountants, etc. Hire for attitude first then talent, skill, education, and experience. If the attitude isn’t in alignment with yours and the company culture, then it’s probably not the right match to get you where you want to be. Don’t settle for less. Don’t hire in desperation. If you do, you may regret later. Remember: Business is about thought. How you think is vastly important to your success. Everyone you work with is an opportunity to tap into other thoughts, other ways of thinking to lead the business forward. For example, if you have the best marketing people, you have the opportunity to be presented with ideas you never thought about. Same is true with sales. Salespeople can help you understand how the company can better present the product or service to prospects and customers. This can lead to phenomenal results for the company! So always work with the best people possible to build a stronger company.

Finally, always lead.

Leaders lead.

Leaders understand the vision for the company.

Leaders understand what people need – employees, vendors, business associates and customers.

Leaders see the total big picture to building a more successful, stronger company.

Business success begins with how you think.

Take time every day to think about your business; how you can improve it and make it better. Create an ongoing list of strategic ideas to help you grow your business and build a stronger company.

May you have the best business year ever!

 

To your success!

 

3 Comments

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  2. Thanks for sharing this stuff with us!

  3. Leaders see the total big picture to building a more successful, stronger company.

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