Your definition of success is different than mine. Is the wino who scores a cheap bottle every day less successful than the sales representative whose achieves the goal of 10 sales in a week? It comes down to how you define success.
When it comes to owning and operating a business, defining success is still a personal choice, although there are certain keys that can clarify the definition. Here are five “P”s:
- Passion. One of the first elements Brand Irons considers when taking on a new client is how passionate you are about your business. The passion gets you up in the morning with eager anticipation for what you can accomplish during the day. It motivates you to bring enthusiasm to every decision you make about the business. It energizes your employees and that passion for your vision goes right through to your customers. That passion for your enterprise sends you home at night encouraged by the results and excited about bringing it back tomorrow.
- Plan. Various research projects have illustrated that people, especially business owners, who set goals and write down their plans are far more likely to succeed than those who feel goals and plans have little value. Take some time to think for a few minutes: Are you working in your business or are you taking the time to work on your business? Working on your business means you do some research, study your competition, talk to your customers and personnel, and develop strategies to enhance your bottom line. Try a different tactic and measure the results of how it worked. Consult with professionals and others in your field who have been successful in their endeavors. Think about things.
- Perform. Your passion conveys a sense of urgency that follows the path you’ve laid out in your plan. Another critical element is to execute the strategy, which means you and your people have to perform. Your customers have expectations. They believe in and trust you. They know what to expect from your products and/or services. It’s up to you and your team to make it happen and fulfill those customer expectations. That’s why it is essential you stay in touch with your customers. Get to know them and their needs. What are they looking for, and is your company meeting those needs? How can you enhance service? Are there other products you could provide to help them solve their problems? Do what is expected of you … and then do a little more than that.
- People. Whatever your business, whatever you market, and whether you have employees or it’s only you, everything you do involves people. Your customers are people; human beings with needs, wants, and wishes. Your employees are people with a need to feel appreciated, who want to have value and make a contribution, and wish to be treatly fairly and honestly. Your success in business is therefore wrapped up with people. That means you need to establish and sustain relationships with these people, especially your customers. Always remember that without customers – who are people – you have no business.
- Place. The adage that it’s all about location is true, to a degree. If you operate a restaurant or a retail establishment, your place in the community can be a critical element in your long-term success. The same holds true if the primary place where your business is located is on the Internet. If your web presence is old, stagnant, and hard to find, even the most elaborate website is a poor location. Keep your place looking sharp. Your parking lot should be as safe, clean, and comfortable as your place of business. Your website should be up-to-date and your social media current and professional. Remember, marketing is about perception. If your customers think your place looks sloppy, that perception could reflect on your products and services as clearly as crystal.