Pillars of Every Successful Business

Only focusing on making money can be your downfall.

The pillars of your business need to be as strong as these. Photo by Photo by Tiana, Pexels

(SALEM, Ore.) - Building a successful business requires an innovative idea, perseverance, and most importantly, a solid strategy. While budding entrepreneurs have great ideas, they often fall short when it comes to the follow-through.

Instead of focusing on the future and building their business based on pillars, they instead only focus on making money. Unfortunately, this way of thinking can lead to rash decision making and poor execution.

To be successful, you need to focus on five distinct pillars of business.

Creativity

It’s also how you continually find ways to scale without running into financial roadblocks. Your creative journey should start by first identifying who you want as a customer. Create buyer personas of the people you want to do business with. This will give a better idea of their wants and needs.

You should also be creative in terms of bringing new hires on board make sure that these individuals support your vision and goals but also look for free thinkers that can broaden the viewpoint of the business and bring things to the table that you may not have thought about.

Technology

If you’re a fleet manager, you need to invest in technology that makes managing your fleet easier. Dash cams are a perfect example of this type of technology. With them, you can monitor driver performance in real time and also use the footage to create robust fleet safety programs. You can also stay on top of delivery times to ensure that everything is running according to schedule.

Operations

Operations that aren’t implemented properly from day one can cause a snowball effect, often leading to mismanagement of other processes as well. Create a comprehensive operations guide, which can be edited according to your company’s needs as time goes on. Note, your operating procedures should always align with your goals and mission statement.

Marketing Strategy

How do you want to be marketed to? Once you answer that question, you’ll be able to create a strategy that’s engaging yet not intrusive. Regardless of niche, your marketing efforts should also revolve around making customers feel like they are your only customer.

Customer Service

More importantly, hold monthly meetings where you can discuss how things are going and ask for feedback from your customer service team. That way, you’ll then be able to use that feedback to update policies and procedures accordingly.

Source: Salem-News.com Special Features Dept.