Everyone would love to start their own company (business) and be financially free. Many people do start their own business and fail with a few succeeding. Some people already have a company established but are not producing and significant results. People are ok with earning money from their established business even though it’s not as good as it can be or a great as it can be but why start a business just to make money and not try to make your business great and a leader in its field. Once you start earning money you have the chance to don’t you? To build a great company you need to have some serious understanding of where the business is and why it’s their. So we have 5 of the best tips to creating a great company that you need to know if you want to succeed.
Every great company that has endured the changes of society, economy, technology and the world to continue to succeed and continue to become great. They do this thought the following 5 tips that are below but discipline is essential. Culturural discipline is essential and to set the discipline you need to make sure that the company itself sets the standard. You don’t want your employees wasting money on things they do not need so the company must not waste money on what it does not need. If the company waste money on certain items that do not help it move forward it can lead to the culture of the workforce following the same suit and demanding the same things. This can lead to internal problems and money wasted, that could be spend elsewhere to develop the company further. So put the company first ahead of anything else and do what is best for the company.
Never chase money you will never succeed but if you look to help solve problems and help people you will always succeed and become successful.
4] Technology and mergers
There are so many companies who’s CEO’s acquire companies or use a lot of technology to help push the company forward. At least thats what they think. These CEO’s use technology and mergers to try to increase the company’s bottom line not to help the company’s overall aims and strengths. Great companies always acquire companies that are in line with their aims, goals and standards not just to make money, that is why they succeed. You must only use technology that will help propel your company not just because everyone is using it. You must only acquire a company if it helps you reach your aims and goals. Look at Facebook, their aim and goal is to connect the world and look at all their acquisitions they all line with this goal (Instagram, Whatsapp and more).
3] Confront the real facts
What is working in your business? What is not working in your business? Everything that does not work needs to be removed so you can use that money on things that do work and things that you can make a success by becoming the best in the world at them. When you start focusing on what works you can make them better and try to become the best in the world at them and succeed. If your starting out then look at what you are passionate about and try to make it a business and become the best in the world at it. Make sure you keep things simple, nobody likes complicated. When you budget make sure you allocate money to what works and cut out funds on things that do not work. Allocate budgets to things you are passionate about and can succeed in.
2] Right people
Always make sure you have the right people in your company. Character and innate capabilities should come before skills and knowledge as skills and knowledge can be learnt but character and innate capabilities are something that is built into an individual. So when hiring make sure that individual is passionate, driven and has the attributes that suit your company if they don’t then don’t hire them as you will waste precious time and money in the long run.
If you do not feel comfortable hiring that person then do not hire them.
When you hire a person make sure they are someone you would like to work for. Ask yourself if they left would I be upset and would I like to hire anyone like them again. Make sure they have what you need and they are the right person for you. If they are the right individual then you will not need to waste money on motivational methods, discipline and other useless things. The right person will help grow your company. Get the right people on the bus and in the right seats and the wrong people off the bus. If you know someone is not a good fit for your company they fire them. You will be saving their time and yours and you owe it to all the good people in your company who do not deserve someone who is dead weight. If you have the wrong people working for you then start hiring the right ones and eventually the wrong people will feel out of place and may leave. If you want to succeed make sure you have the best people working for you. A players only. They will make your life easier. Put your best employees on your biggest opportunities not your biggest problems.
Sometimes you may have a great individual but they may not be sitting in the right position you may need to move to an area where they can flourish and succeed. If all fails they may not be right for your company.
You as an individual must be a good, honest, humble and sincere who works hard and knows exactly what steps to take to make the company great, not THEMSELVES. There are so many egotistical CEO’s to accredit themselves for the companies success and act like a show horse saying it was them who drove the company forward and sustained results but when they leave the company it falls flat because they did not train up and leave a successor. Great CEO’s give credit to their teams and say it way their hard work to get them here and god will not them and their efforts because they are humble. It is god who paves the way and appoints everyones destiny so it is to god that all compliments and praise belong to anyway not us silly individuals. Normal CEO’s praise themselves and then when things go wrong blame everyone else not themselves. Great CEO’s look in at themselves when things go wrong not the team as they are following orders and make sure it never happens again. As a leader you are responsible for each individual, product, dollar and the overall success of the company so you must know everything about the company and when it needs to go.
[image from jamespoitras]