Profit

There is one first principle of business success that is constant and will dictate whether the business is controlled by the owner or the owner is controlled by the business. It is a simple and logical truth that a business person will only ever earn what they think they deserve. It is contention from the training, consulting and business planning we have done with well over a thousand businesses, both big and small, that the business only ever makes a decent profit when everyone in the business believes they are entitled to one. If not, then the business will leak profits from every area and part of it.

Commercial Awareness

For a business to make a fair and reasonable profit, everyone involved must understand how they can contribute to the business’s profitability and productivity. They must also be commercially aware.

Professional Development

For a business owner to start making decent profits, they must spend considerable time thinking about and understanding why they deserve to make a reasonable profit. A good business mentor can be of great assistance here. A well-planned and organised business will have justified the profit the business deserves.

Absolute Customer Focus

This is the best way we know to ensure a business is profitable. Make sure everyone is focused on the customer. This is also the best way to focus employees on constant innovation so that business systems and processes remain relevant and grow with the business, its people and its customers. When staff realise that constantly improving the business improves the relationship with the customer and guarantees business growth, jobs and careers while providing the company with the money to do all this, it is easy to improve customer service via improved staff and business performance.