5 P’s of Business Success
Truly successful business owners have a clear purpose and mission about what they want to accomplish. They have clear goals and objectives and run their business with Key Performance Indicators (KPI’s) which they constantly monitor not unlike a pilot flying a plane monitoring altitude, airspeed, heading, fuel, engine condition, weather and of course other aircraft around them.
For a business to be successful I believe there are 5P’s which are:
- Purpose: Establish a clear, compelling Purpose based on the value your business provides
- Product: Deliver solutions to problems that answer the needs of your customer with the right Product (or Service)
- Process: Implement an efficient, consistent and results-driven Process in a step-by-step manner
- People: Recruit and nurture talented individuals who are highly motivated, skilled and well trained
- Profit: Deliver consistent and healthy Profit margins to ensure long-term stability and growth
Too many SME business owners run their business by the seat of the pants, going from one crisis to the next never taking time out to plan for the future. Always working ‘In’ the business. A successful and profitable business should run without the continuous involvement of the owner through proper management systems being in place by dedicated and responsible personnel.
If you are a Business Owner and you are serious about growing your business but you have hit what we call a ‘glass ceiling’, reach out and give me a call on 087 2555263 to discuss how we can work together. Probably the best call you will ever make.
