Rashedul alam

Business

Success in Business

Ten Fundamental Rules for Success in Business

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Since biblical times, the decalogues have proved to be useful tools that allow us to keep in mind the fundamental principles to guide our actions. Success in Business

As an entrepreneur, I find the decalogues, or in general the lists of principles, of great utility; Especially when I share them with my collaborators. But attention: the important thing is not to have lists of principles or even values, but to give them life, throughout the whole organization.

Last week, the magazine Expansion of the publishing group of the same name published an exclusive premiere my Decalogue for Entrepreneurs and Executives, it is obvious that this material could not be missing in my blog:

You can read also: Definition Of Business Plan

  1. The first thing is that you have to know and understand what the business is about: Know it in detail or do not get in!
  2. Never forget that the central purpose of any business is to produce more and better products or services. Always at the lowest possible cost, thus achieving customer preference. The preference manifests itself as increasing sales, any other indicator is the mere optical illusion.
  3. It is essential to living and breathes an environment of extreme economics: resources never surplus.
  4. Do not miss good growth opportunities; But be careful about the over-expansion trap, especially avoid dreaming about new business when you do not have the staff able to execute them.
  5. As an entrepreneur or executive, the responsibility of the business is yours, not your subordinates. When you delegate authority and responsibility, you must maintain close and constant supervision over delegates.
  6. You should always be alert on how to improve processes, save costs, increase sales and lower expenses. Learn and use the Kaizen method.
  7. You must be willing to take risks, as long as the risk is justified and the business, or proposed initiative, presents a reasonable probability of being profitable.
  8. An entrepreneur always seeks new horizons and unattended markets in foreign territories.
  9. You must always support your products and services with a very wide guarantee of customer satisfaction and in a case of doubt, always decide in favor of the customer.
  10. If you succeed and you become very rich, consider that wealth is to work and put it at the service of people. Remember your responsibilities to your employees, partners, shareholders and the public. Success in Business

If we execute this decalogue we will reduce the chances of business failure (although I suspect that most of these principles will serve our lives), I hope that entrepreneurs and young executives, who begin the great business adventure, Is useful, in any case, I invite you to share your views in the comments section.

As a final reflection, I commented that I never met anyone who was successful in business that did not have a founded OWN OPINION.

 

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Author: Jack726

Freelancer

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