Three Keys to Sustainable Business Success
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I recently attended a conference with over 150 top real estate industry leaders discussing their viewpoints on “sustainable success.” Needless to say, it was a lively discussion, and one of my top takeaways was that the tips these leaders shared could really be applied to any business, not just real estate. Whether you’re an entrepreneur, a department leader or a team of one, “sustainable success” typically starts with these activities:
1. Have a vision focused on your customer’s success.
Growth for growth’s sake isn’t usually sustainable long term. Growth with a purpose is. Think about what you want your future business to look like and the steps it will take to get there. When you have a purpose and a vision for your business, it will help get you through those inevitable days where you’re frustrated and wondering why you do what you do. It reminds you of why you’re there and gives you that motivational push to get through trying times.
Make your customer’s success your #1 priority. Get inside the mindset of your customer. What do they need? What makes you or your company different from the other choices out there? What problem do you solve for them? How can you help them achieve their goals? When you can answer these questions, you’ll have the foundation for a sustainable vision statement.
2. Study companies in completely different industries.
Ask a friend to give you a tour of a completely unrelated company and see how they operate. Ask questions. Be curious! You’ll gain powerful insights and ideas you can apply to your own business right away. You don’t need to reinvent the wheel when it comes to sustainable success, you can just as easily learn from those who have already done it!
At the conference, Paul Charron, Chairman of Campbell’s Soup, shared how essential it is to look at future growth areas and ways your company can grow in those emerging areas. That may mean hiring talent that complements and adds to your current team, or perhaps it’s making an acquisition that brings that “missing piece” to your product or service offering.
Look for the needs in your marketplace. Ask yourself who will have a future need for your product or service? It allows you to be proactive in your business versus reactive when a competitor fulfills that need before you do. Great business people never stop learning or experimenting.
3. Schedule time to think.
I promise this won’t be a waste of your time. So often, we get caught up in the demands and fires of the day that we don’t have time to think. Just taking a step back can provide valuable perspective. Ask yourself, “What am I trying to accomplish?” or “Who might be able to help me with this situation?” Thinking time gives you a “time out” from the roadblock you’re experiencing and reminds you of where you’re trying to get to. This is time well spent.
Have you ever been lost trying to find an address? You re-type the address into your phone’s GPS and while you may take a detour, you eventually get there. Just taking that moment to reflect, recalibrate and focus on where you want to end up can make all the difference.
At Buffini & Company, we’ve had seasons of fast growth and down times like the Great Recession. We’ve had to recalibrate our offering by bringing out new technology or training that meets our client’s specific needs. Through those changing seasons, we’ve always strived to make our client’s success our #1 priority and that’s been one of the keys to our sustainable business success.
If you’re looking for an outside perspective on your business, we specialize in helping entrepreneurs grow their businesses in sustainable ways, so don’t be shy in reaching out to us, we’d love to talk with you.
It’s a Good Life!
Terri
