5 P’s to Business Success
Successful business owners have a clear and well communicated mission about what they want to accomplish. They have clear goals and objectives and run their business on Key Performance Indicators (KPI’s) which they constantly monitor similar to an airline pilot in the cockpit monitoring altitude, airspeed, heading, fuel, engine condition, weather and of course other aircraft around them.
For a business to be successful I believe there are 5P’s which are:
- Purpose: Have a clearly defined Purpose
- Product: Answer the customers needs with the right Product (or Service) solution
- Process: Follow a step by step Process
- People: Employ highly motivated and well trained People
- Profit: Deliver a sustainable and achievable Profit margin
Too many businesses are run by the seat of the pants, going from one crisis to the next never taking time out to plan for the future. A successful and profitable business should run without the continuous involvement of the owner with proper management systems in place by dedicated and responsible personnel.
If you are a Business Owner, serious about growing your business and looking for guidance then give me a call on 087 2555263 to discuss how I can help you.