The 8 Pillars of Business Endurance


In our previous post, The 3 Keys To Start-Up Survival, we presented the opening mind-set of the entrepreneur: Set Trends, not follow them. Nothing is perfect, do what you can. Every problem has a potential solution.

In this post we present the 8 most important factors you must always bear in mind to start and maintain any business.

Find strong demand. Supply a solid product/service. Write a Vision. Listen to the Customer. Manage your Finances. Hire the best people. Solve problems. Systemize the best solutions.

Note that it doesn’t matter which stage of business development you’re in. The 8 Pillars to Business Endurance will work wonders whether you’re in start-up, a small business or a growing multi-national, for-profit or non-profit.

  1. Find Strong Demand. Better to find a product that meets an existing need than trying find the demand to fit a specific product. Sounds simple but so many “entrepreneurs” ignore it.
  2. Supply a Solid Product/Service. Test, Fix, Test, Fix. Be on-time. Deliver the same great service, on-time, every time. It’s the only way to build great clientele.
  3. Write your Vision. Instead of being guided by fate, let your initial ideas and inspirations lead you. This creates internal focus and centralizes your strengths.
  4. Listen to the Customer. They are your market, so it pays big-time to hear what they have to say. Most companies forget this the minute they start making money.
  5. Manage your Finances. Daily! Cash Flow (Income minus Expenses) is the story of your business. If you’re not making a profit, either you or your investors aren’t going to be around for too long.
  6. Hire the Best People. There’s a saying, “When you have the right ideas but the wrong people, your ideas won’t work. If you have bad ideas but great people, your people will fix your ideas”. Seek integrity, intelligence and energy.
  7. Solve Problems. Every organization has issues. They key is to identify them and solve them as soon as possible. Ask: “How can we improve our business?”.
  8. Systemize the Best Solutions. Once you’ve chosen the BEST solutions, create a system that solves them forever, so they don’t come up again or that anyone is able to fix them. Create so many systems that it makes people cringe. That’s organization.

Our next post will focus on the 8 key elements to growing any business.

Related Articles: The 3 Keys To Start-Up Survival

Advertisements

Tags: ,

4 Responses to “The 8 Pillars of Business Endurance”

  1. Pillars Of Business Endurance - Business Opportunities Weblog Says:

    […] recently came across a great article on Sentiment Of Success that talked about the 8 pillars of business endurance. The great thing I saw about these 8 pillars […]

  2. Blog Mention « Sentiment of Success Says:

    […] mentioned in an article written by Jaclyn Wells, for Small-Opportunities.biz. Their article “8 Pillars of Business Endurance” can be found here. You can also visit the site through our […]

  3. JimmyBean Says:

    I don’t know If I said it already but …Great site…keep up the good work. šŸ™‚ I read a lot of blogs on a daily basis and for the most part, people lack substance but, I just wanted to make a quick comment to say I’m glad I found your blog. Thanks, šŸ™‚

    A definite great read..Jim Bean

  4. BloggerDude Says:

    I don’t know If I said it already but …Hey good stuff…keep up the good work! šŸ™‚ I read a lot of blogs on a daily basis and for the most part, people lack substance but, I just wanted to make a quick comment to say I’m glad I found your blog. Thanks,)

    A definite great read….

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: