There are many businesses ignore the important factors leading to success in business as a clear strategy, abundant human resources, organizational capabilities now. And the result is a booming business not to be, but even business owners still do not understand why.
Of the hundreds of thousands of new businesses established each year, many businesses never been booming. There are many other businesses, after the initial success last lightning can only maintain a moderately active.
From idea ...
Of the hundreds of thousands of new businesses established each year, many businesses never been booming. There are many other businesses, after the initial success last lightning can only maintain a moderately active.
Why is it happening so sad state? Entrepreneurship - the natural inclination to act - often ignore the essential elements to success in business.
These factors include: a clear strategy, a real human resource capacity, plus the ability to organize enterprises to fit promote operational efficiency has not thwarted the initiative of staff .
Also, never have two now go the same route. Thus the entrepreneur can not expect the successful formula available to make choices concerning their business. A right decision now could become a disaster when applied to other businesses.
How to paint a successful path for your business? Bhide authors suggested that you should ask yourself the following questions:
What is my purpose?
Consider the goals you set for your company: Do you want to achieve rapid growth? Or an opportunity to test the new technology? Or accumulation of capital through the sale of the company is to make food?
How to achieve that goal?
Your strategy is effective? In the strategy has indicated that the company will do and will not do anything? Is it big enough to make a profit and growth is not fast enough?
I can do that?
You have no power suit? There were not enough funds?
The ability to improvise according to market conditions is essential for businesses to get far. The successful entrepreneur always ask yourself the tough questions about their own goals and whether the current progress of their work can help them achieve those goals are not.
... To reality
Let's take a closer look three questions Bhide
What is my purpose?
To clearly define the goals you set for your company, understand the following:
Yourself what you want from your business: A place nourish and nurture talent? Enjoying an active lifestyle, many changes? The existence of a permanent economic institutions represent your values? Or do you want to earn quick profits, just overnight?
Type of business, your company needs: For example, if you want to later sell the company, you have to build a sustainable business, which is now capable of renewing themselves through the world system constantly changing technology, for both employees and customers. And you'll need a large enough company can support investment in infrastructure, so that you are hands free to do other things.
balanceMuc the risk of you: for example, determined to build a sustainable business that is a risky bet in the long term - that is to trust the inexperienced staff, themselves to ensure repayment of debt and accept the success does not appear immediately. The goals you set out whether there is worthy tradeoff with the risk it?
How do I achieve that goal?
The success of this strategy should set out:
There is a clear mandate: planning policies, access to geographic, capacity and decision-making processes of the enterprise clearly to all employees, investors and customers know.
Generate sufficient earnings and consistent growth: Make sure that your strategy will bring business results as desired. For example, only after a thorough evaluation through effective strategies orders via e-mail (which generate less profit because faces stiff competition) and the retailer, the mode work at home for female employees during maternity leave (Mothers Work) can put in place in the company.
Serving companies in the long run: First, to estimate the market saturation in the future, predicting environment increasingly fierce competition and changes in technology breakthroughs, and then to ensure that Your strategy covered all these fluctuations.
Achieve consistent growth: Please set a target of achieving a growth rate that has attracted customers and the investment has not caused too much stress for you and your employees.
I have achieved the goals that?
A great strategy will become useless if you can not turn it into reality. To do this, you must have:
Adequate resources: Be added to the staff of the company employees have the skills, knowledge and values needed to implement your strategy, forming an attractive staff both customers and capital investment.
Appropriate infrastructure: Establish a system of organization necessary to implement your strategy.
For example, suppose you want to start a business thrive on geographical network, quickly grew to eventually sell shares to the public. In this case, you will have to invest heavily to develop mechanisms for decentralized, specialized job roles, prediction and control of resources from investment funds and maintain financial performance .
The flexibility of the role: To develop business, the role of the site you need to turn yourself from the "real work" to "instruct others to do", to produce results as expected want and manage the work environment.
