Recently I was reading an outstanding article that gave me some good insight into business success. The article talked about the fact that all successful businesses have several things in common. Everyone knows that there are two key ingredients a company must have in order to be successful: a good product and excellent customer service. However, the article went on to point out that if you could focus on four particular areas of your business, you would be in a better position for success.
After reviewing many different companies and collecting much data, the researchers found that all successful businesses had four things in common. I like it when information is clear and simple. I also like it when it is easy to remember. The researchers narrowed down the success of companies to 4 P’s I would like to share with you.
- Power – This has to do with knowing where you are headed in your business. It has to do with your direction. If you are going to sell widgets, then you need to have a plan to produce them and market them. Success doesn’t happen by accident! It requires thoughtful planning and commitment. It is true that almost every company makes adjustments along the way, but you must be crystal clear as to what you are all about and the direction in which you want to move.
I once heard a simple sentence that I think says it all: “The people who first climbed Mt. Everest didn’t do so by simply going out for an afternoon ‘stroll’ one day in the mountains!” You have to know where you are headed and take the necessary steps to have power and control in whatever industry you choose in order to succeed.
- Positioning – This has to do with having good connections. We have all heard that it isn’t so much what you know as who you know. We all need to be well connected. We need to be acquainted with people who can help us move ahead in what we are doing. No man or woman is an island unto themselves. Someone once said the most important thing in life is having good relationships. I totally agree. By having good relationships and connections with people, you can be in a position to succeed much faster.
How many times have you recommended a good business to a friend of yours or had a good business recommended to you by someone else? That is what positioning is all about. It is having good connections in order to help one another on a daily basis. I can honestly say that almost everything that has happened to me in my business life is because of a good connection with a friend or because of someone I have worked with in business who has recommended my services to another person or company.
- Polite – This has to do with customer service. Although it is a “no-brainer”, we sometimes forget that in business, everything rises or falls on customer service. Statistics show if you write down the names of ten businesses that you pass as you ride down the street, ten years from now seven of those businesses will be closed and only three will be left! The seven that fail will likely do so because of poor customer service and the three that remain open will succeed because of good customer service. That is what it means to be polite, to care and to have an attitude of cooperation and kindness toward your customers.
- Performance – This has to do with knowing what you are doing and doing it consistently. In other words, if you are not clear on what you are trying to accomplish, you will lose your way and it will not be long until you are totally lost. I sometimes think that performance is the most difficult aspect of business because it is so easy to get distracted by every opportunity that comes along. Good ideas are a dime a dozen, but to be successful, you must be clear about what are doing and do it day in and day out, with excellence. The old saying is still true: “Cream always rises to the top!”
In the past, I have been distracted by many different endeavors, but as I grew older in business, I focused on one thing: helping people understand their personality style in order to build better teams and create better relationships. That is what I want to be all about in business – nothing more, nothing less, and nothing else! I want to know what I am doing and continue to learn how to do it better every day.
There you have it! Those are the four keys to building a successful business: Power, Positioning, Polite, and Performance. Are you excelling in each of those four areas? More than likely, one or two of those topics are strong points for you and maybe a couple of other points need improvement. I have made a 3 x 5 card with those words printed on it and keep it where I can see it often. It helps “center me” and allows me to stay focused on what I am doing every day. I would suggest you do the same thing. You will not be sorry. I can guarantee you that! Ask any successful person you know in business about these four key traits. See what they say. Come to think of it…they also work well in everyday life. Now go and do likewise!
Tip: The 4 P’s to business success!
Have a great week! God bless you!
Dr. Robert A. Rohm