Insights into a successful business in a series of blogs in July by Roxanne - Part 3

Posted by Roxanne Chugg

This week’s blog is a third in a series of blogs throughout July where Roxanne shares her  thoughts on what makes a successful business…..

The best-of-the-best are committed to customers:  This means:

  • Recognising that “selling and serving” is what every business is all about; and everyone recognises this
  • Recognising that some people are natural at it while others feel their gut twisting when in close proximity to a sales situation
  • The applause and success is earned by the collective efforts of all. It doesn’t matter what an individual’s role is in a company … his or her paycheck depends on the company’s collective ability to “sell and serve”

The best-of-the-best are committed to a professional working environment:  This means:

  • Creating the right look; clean it, paint it and refurbish it.  Front door to back door, everything about the facility should communicate and support its brand identity. Every piece of equipment should work. Lighting fixtures should be functioning. Walls, décor, posters, pictures, bathrooms and dressing rooms should be spotless. Reception areas should look organised and professional.
  • Appropriately dressing for success.

The best-of-the-best are committed to fair and equitable compensation:  This means:

  • Team-Based Pay, fixed rate, sliding scales, product/service charges, or independent contractor; there is no one right way that will serve the needs of all. But when all the debating is done, a reward and recognition process must achieve three goals:
    • Inspire and reward the right performance and behaviors: If you keep rewarding performance and behavior you don’t like … you continue to enable that behavior
    • Fit the financial reality of the business: There are only 100 cents in a dollar. Whenever payroll exceeds a company’s financial reality, it instantly initiates a cash crisis that, if left unchecked, can be destructive and even kill the company.
    • Provide income growth for employees: The best companies provide employees with growth paths for income and achieving their full potential. It is up to both parties to make it work.

The best-of-the-best are committed to a brand identity.  This means:

  • When it comes to brand identity, businesses fall into one of three categories: nondescript, blends in, or stands out from the competition.
  • Achieving the “wow” factor. Brand in it’s a complete package;  from web site, print materials and phone experiences to facility, décor, team personality, execution of work, delivering on promises and all those special touches that radiate success. Each and every one of the previous eight success characteristics must rate high in order for a strong brand identity to emerge and endure.

The best-of-the-best are committed to serving their community.  This means:

  • Understanding and having a commitment to give back to the community.  This might mean fundraising for worthwhile causes or employees donating personal time to a worthy cause
  • Business success simply does not appear complete if it’s all about making money and generating profit. A business, no matter how profitable or magnificent, is never truly successful without a warm heart and sincere compassion for the wellbeing of others.

Collectively these traits establish an “excellent business”. How’s does your business compare?