Keys to Business Success
November 8th, 2011 — 6:30am
Some of the big ones from my own experience.
- Treat people incredibly well. “People” is mostly customers and employees, but also vendors, community members — everyone.
- Invest in becoming unusually good at what you do. No amount of sales and marketing can substitute for expertly and reliably delivering your product or service.
- Tell the truth way more than most people do.
- Be really picky about who you hire, nothing less than the best you can find.
- Listen eagerly to what your customers want and make sure you are their best choice to get it.
- Run a meritocracy where high-performing employees are rewarded and recognized, and where low-performing employees are quickly removed.
- Make sure every employees knows the specific results you expect them to deliver, and an accurate, recent grade of their performance compared to those expectations.
- Know the numbers intimately, especially revenue growth, profit, and cash flow. The decision-maker who doesn’t like to read financial statements is in big trouble (but doesn’t know it yet).
- Recognize that business is a continuous competition that produces fast-growing winners and bankrupt losers, and be clear about what strategy (series of actions) you intend to win with.