Secrets to a Successful Business - how to become the best of the best

Posted by Roxanne Chugg

I am often asked “what are the traits of a successful business” or “how do I help my business become better than the rest”.

It’s the time of the year when businesses have likely completed their plans for the year ahead and the budget planning to enable to plans to be undertaken have been approved.  It’s a great time of the year to reflect on what a successful business means.

In a series of blogs throughout July I share some of my insights with you:

The best-of-the-best are committed to working on the business:  This means

  • They don’t just get caught up in the day to day stuff;
  • They look ahead, they plan… and their people know how what they do (or don’t do) contributes to the success of the business;
  • They’re aware of what their competitors are doing;
  • They strike a balance between thinking strategically and putting the plans in place, executing the plans well and understanding the outcomes their plans are helping them to achieve;
  • Leaders and companies that master the discipline of working not just “in the business” but “on it” as well, stand out from their competition.

The best-of-the-best have strong and effective leadership. This means:

  • They have strong and visionary leaders;
  • Leaders who are able to clearly articulate where the business is heading and get people on board to achieving the business goals;
  • Leaders who are emotionally intelligent and have a well balanced, versatile team around them; and
  • Effective leader’s who role model the behaviour they wish to see in the business, they know their strengths and weaknesses and they continuously develop their leadership skills.

The best-of-the-best focus on enhancing their business culture. This means:

  • Developing a culture where the collective behaviour of its leaders and employees is in line with the values of the business;
  • The way people work together across business processes (inter-relationships) are well understood and there’s a cross functional rather than silo approach;
  • Customer contact points are clear and well defined and staff are skilled at interacting with customers, understanding and meeting their expectations and needs;
  • A strong collaborative approach exists and everyone is engaged; and
  • People understand their role, what is expected of them and they feel recognised for the work that they do.

In blogs throughout July I will also share insights of:

  • Brand and identity
  • Systems and Processes
  • Skill development
  • Financial management
  • And more!!!