In today’s ever-changing marketplace, providing an outstanding service or creating a fantastic product is critical to a business’ overall success, but that’s just the bare bones of any company. There’s a lot more to success that needs to be both understood and utilized. Below are five business practices you should seriously consider adopting in 2017.
Determine Your Limitations and Strengths
A personal self-inventory is both necessary and crucial to any business endeavor you’re undertaking. While Clint Eastwood famously quipped in the movie Magnum Force that “a man’s got to know his limitations”, both men and women must know their limitations – and their strengths – in the world of business. But knowing is not enough – how can you overcome your own limitations? How can you enhance your strengths? Be as honest as you can and work accordingly on both. Maybe you are a great teacher, or perhaps you struggle with direct communication. Recognize what you most need and what you should work on.
Never Stop Learning
Learn from your market. Learn from your competitors. Learn from your mistakes. Learn from your successes. Learn from earning a degree in business management. Learn from reading biographies on business leaders that you admire. Never miss an opportunity to learn at least one new thing on a daily basis. The more you can educate yourself, the better you’ll be able to structure your business and make better decisions.
Surround Yourself with the Best People
You can’t do everything, so learn how to delegate responsibilities to others you trust. From graphic designers to accountants, or even lawyers and custodians, invite the most talented people you can find to join your team, and then allow yourself to get out of their way so they can do their work. Learn to give up control and focus on what your main priorities should be. And remember – no job is unimportant.
It’s All About Relationships
Your focus may be on making and selling the best staples in the world, but your primary concern should be on establishing – and continuing – great relationships with your customers or clients and your staff. Never forget that people are the basis for making your business great, whether they buy from you or work with you. Learn to cultivate not only partnerships but friendships. Your business should be personal-based to give back the best support.
Flexibility Equals Agility
The “we’ve always done it that way” mantra is the motto of a dead (or seriously ill) business. Keep your eyes open for fresh ideas, new avenues for growth, or unexpected opportunities that can come your way at a moment’s notice. In the end, successful businesses are built on innovative practices that can propel your business to new heights.
Eileen O’Shanassy is a freelance writer and blogger based out of Flagstaff, AZ. For more information on getting further education for your business check out WGU degrees. She writes on a variety of topics and loves to research and write. She enjoys baking, biking, and kayaking. Check out her Twitter @eileenoshanassy.