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The Key Secret to
Success
in Business. And failure.
Why do some businesses
succeed and some fail under
exactly the same circumstances and in exactly the same business?
The difference is their point of view about what a
business is, and what one isn’t. The difference is that successful business
owners were all
→
entrepreneurs,
and that the vast majority of the people who go into business aren’t.
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Your Business is
Ruled by the Marketplace
Yes, it's you who decides what business you are in;
but the
marketplace participates in this decision making process as well. People will only buy
what they want to
buy, or are afraid not to buy, at a given moment in time.
Tailoring your business plan to what the market will buy is always a better,
more successful strategy than developing a new product or service without
knowing precisely the customers for it and hoping that people would buy it
because it's good.
Customer success –
customer value proposition,
communicating,
advertising,
emotional marketing,
influencing people,
persuading people, etc. –
is all about
perceptions. The essence of marketing and selling is coming to
grips with people's
perceptions.
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New Measures of
Business Success |
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As business and organizational complexity
arises, success can be found in a
balanced business system
which depends on interconnections of its individual elements:
●
→
Profitability
● satisfied stakeholders (customers,
shareholders,
employees, partners, neighbors, and other players)
●
→
Revenue
and
profit growth
● growth in market share
● growth in market value (stockmarket
capitalization) |
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Swim upstream. Go the other way.
Ignore the conventional wisdom.
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Sam Walton
Wal-Mart |
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