No business has the right to be successful. Success comes from a huge variety of factors and top of the list is hard work.
Combine the hard work with good fortune, careful planning and a strong business model then you’re following the right signposts towards success. But sometime hard work isn’t enough. So how do you take it one step further? How do you set yourself apart from the thousands of other business who work hard?
We work with inspiring companies around the world, from fresh start-ups to household names, and over time we’ve identified the common traits of the most successful businesses.
Successful businesses, no matter their industry, tend to have the following in common:
They keep it simple and they love what they do
Simplicity is beautiful. Life is full of complications, conundrums and confoundments so when simple things come along they tend to provoke small outpourings of joy. Simple products and simple ways of doing business create streamlined, efficient and highly motivated companies bereft of complications.
Ray Kroc built McDonald’s on the premise of serving burgers, fries and drinks based around the principles of quality, service, cleanliness and value. The rest is history. The company now turns over close to $30 billion a year. A simple product or proposition, executed perfectly, will lead to success.
Alongside keeping it simple, successful businesses love what they do. Their work is their passion yet they still find time to enjoy it, instill a powerful culture of positivity and invest in their employees.
Which leads us to the next factor…
They invest in their people
Your people are your most important resource. Pret a Manger describe it as such: “We believe that people make all the difference. They are our heart and soul. When they care, our business is sound. If they stop caring, our business goes down the drain.”
Motivated, inspired and valued employees are more productive, deliver a better service and will naturally work harder than those who aren’t. As well as performance and productivity, employee engagement impacts positively on levels of absenteeism, on retention, on levels of innovation, on customer service, on positive outcomes and on staff advocacy of their organisations.
So connect with your employees, praise them, say thank you to them, celebrate with them, coach them, train them and make sure they enjoy work; this is success in action.
They track, measure and review
The most successful companies are the ones who plan and prepare. Through this planning and preparation they are able to anticipate what’s coming next. They use data to forecast and budget more effectively so they can respond to the real-time needs of their business.
By understanding data, companies are better to able understand how their business operates but also the behavioral patterns of their customers. In doing this, they can give their customers what they want before they even know they want it.
At Quinyx, we help business be successful by working with them to create simple solutions to complex problems. Take your first steps with us and we’ll show you how we can help.