Entrepreneurship for business owners can be a rewarding journey both financially and emotionally, but one that requires clockwork consistent investment and constant adaption in three key areas: principles, processes and people. This adaption has never been more important than today. Business need to adapt in this quickly changing market.
Business success does not necessarily require a growth at all costs mindset, a large database of contacts or the constant hustling associated with a start up culture and rapid expansion. Rather the ingredients to success reside in passion, attitude and the right mix of technology and processes.
The vast majority of businesses grow out of the personal passion of the owners. While it would be fair to say that passion alone is insufficient to creating a thriving successful business. This passion is what will keep owners focussed during times of crisis or challenge. Which is what most business owners are currently facing. The uncertainty can be unnerving and therefore business owners need exhibit a passion for what they are doing and why they are doing it.
Unwavering passion also gives comfort to staff and customers as to the resilience and strength of the business model and that of the owner. This helps to ensure a focus on core activities and will eventually drive customer satisfaction and growth. Little and consistent actions will provide a foundation on which the business creates it new normal. This is particularly true in the competitive industries of hospitality and retail.
A customers positive experience and exceptional customer service levels are important for businesses to differentiate themselves and to win over more discerning customers. Now is the time to do what you do well, provide an excellent product and exceptional service and the business will set itself apart from the competition.
Passion for the business by the business owner can be infectious, and staff will pick up on that and style their behaviour and actions on what the owner demonstrates.
If you want to buy a Business, or if you are thinking of selling your Business, contact Jo-Anne Wilson on 0403 542213
Benchmark Business Sales and Valuations
