No matter how small the business, even a one person operation, has to establish and develop basic principles. Once established, they should be the foundation for your business growth and prosperity.The following are four principles that Thomas Watson ( chief executive of IBM, during it rise to world prominence) used to grow IBM.
- Values: In a small business the values which the firm has are those that the founder has. Core values come through a sound set of beliefs that the owner brings to the new business. Nothing, during the growth of the business, should in any way alter the core values established by the firm founder. They should be stuck to through thick and thin and the core values or beliefs must never change.
- With core values in place, the foundation exist for building a future “corporate culture”. As you add staff and get new clients/customers those beliefs transfer into the way you do business, how you treat your clients, how your office looks, even how you dress.
- To be competitive, you must have both passion for competing and a belief that you have the very best product/service in your field. Being competitive is found in the relationships you build with your suppliers and clients as well as the service you provide.
- The people factor; you know how you want to treat those that are a part of your business, both suppliers and clients, but your ability to get everyone that works for you to have the same beliefs and core values is critical for success.
Four simple rules that are essential for profitable and sustainable growth.
We overestimate the event and underestimate the process. Every fulfilled dream occurred because of dedication to a process.
Have a great day!