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The 5 business principles to guarantee the future

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The 5 business principles to guarantee the future

Today, starting a Azerbaijan Mobile Phone Numbers does not seem like such a complex task – compared to previous centuries. Now, what does seem really difficult, clearly, is to keep it vital and successful over time. Why do we affirm this? Because in recent decades the whole world has made great efforts to facilitate and promote entrepreneurship, but few to accompany what is underway. For many years, governments have issued laws and provided resources to promote the birth of businesses, in addition, they have created state entities to assist those who take risks in the early stages. The private sector has also made its contribution by designing mentoring programs to train entrepreneurial leaders. It has even bet on and sponsored many of these initiatives. For their part, banks and investment funds have unblocked access to capital to favor the growth and expansion of new companies.

In short, all have agreed to create an environment conducive to the emergence of new companies. And yes, these have appeared, but few have evolved and many have disappeared within a few years. We need ventures that last This obsession of the world to facilitate the creation of businesses contrasts with the little care that everyone takes to the next stages of a business. The sustain phase! Neither governments nor the private sector nor banks nor investors nor the entrepreneurs themselves emphasize this transcendental aspect of the process of building a company. Much is invested in the conception, planning and implementation of the idea, but little to secure it and guide it to success.

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This obvious reality for all is what motivated this article. For a long time we have asked ourselves: what does it take to guarantee the future of a company? And after searching a lot, we found few lights. That is why we decided to write about the subject and thus contribute to the entrepreneurial ecosystem from a very different and unusual shore. The Principles of a Business: How to Create and Sustain a Business in Today’s Forex Email List The first thing we want to say is that there are no secret formulas and that to survive there are no shortcuts, but a lot of planning, work and perseverance. In this publication we will touch on some basic and obvious issues and some that often go unnoticed – which will be the focus of our presentation.

To start with, let’s talk about the first package, the elementary and obvious aspects. The future of a company will be guaranteed if and only if: (i) advanced administrative skills are developed to properly manage resources; (ii) an outstanding product or service is offered, with competitive advantagesdifficult to match and well distributed in the target market; (iii) strategies and plans that are responsible for the environment are created, that contribute to the community and that respect the environment, that identify social causes and support them; (iv) guidelines are established so that all business practices are ethical and in accordance with local and global laws; (v) channels are opened for association that lead to the consolidation of guilds or strategic alliances, and (vi) work teams are formed and trained to create competencies and alignment with the mission and vision of the enterprise.

Now, the second package – that of the aspects that often go unnoticed – is comprised of what we call: the five principles to guarantee the future of a company. Those five fundamentals are:

1. Connect deeply with customers
Companies that aspire to endure must be concerned about establishing true and human connections with their customers. At present, it is utopian to subsist in the market without establishing real ties with those who use or consume what is offered. To achieve this connection, you will have to start with an honest building of trust between those involved —business and client—, which should lead to the consolidation of a deep and close relationship. There is an undeniable truth in the business world: relationship building is at the heart of commercially successful companies.Connecting means committing to meeting customer needs and company values. Connecting means maintaining a consistent service ready to meet customer requirements. Connecting means handling complaints with efficiency and compassion, and caring for the well-being of the consumer or user. Connecting means creating community and contributing to its growth.This first principle is well explained by paraphrasing a senior Starbucks manager: “You can only be loved if you give yourself love.” Only when we fully dedicate ourselves —as an organization— to creating an honest connection with clients, will the undertaking last over time and the proposed objectives will be reaped. Otherwise, if we are unconcerned and do not consolidate a relationship with those who consume or use what we produce, we will be taking a certain step towards the termination of the business.

2. Create passion and commitment in employees
Let’s start by understanding that a collaborator is any person involved in the internal or external processes of an organization. By this we mean that suppliers, employees and representatives or distributors are collaborators. Also, that any member of the supply chain or actor with an active or passive role during the relationship of the company with the client or the environment is a collaborator. Now, with that concept of a clear collaborator, we can focus on the two critical aspects related to them to ensure that the business lasts over time: the recruitment of talent and the training and development of this.

Companies that do not invest enough resources to acquire and retain the best available talent have an immediate expiration date. Acquiring outstanding talent is critical for a business to grow and sustain. In addition, it is mandatory to invest in that attracted talent; creating passion for the mission, vision, values ​​and products or services offered, to achieve objectives in the short and long term. Attracting and retaining enthusiastic, dedicated and committed employees will produce a spiral of growth and development. But the idea is not only to create passion and commitment in the employee, but also in the company for this. Initiate programs that recognize the experience and excellence of recruited talent, train and train them continuously to better perform their functions and to find paths for personal and professional growth, offer them opportunities to cultivate their interests and give their all —as an organization— so that it achieves its physical, financial and emotional well-being.

3. Insist on collaboration as a working model
Collaboration is the third aspect that affects the consolidation of a business over time. Collaboration seen as a work methodology and as a tool to face and solve problems that are experienced on a day-to-day basis. Companies that insist on creating work teams and collaborative effort as a method put collective talent at the service of their objectives. And this simple fact makes ideas and solutions to problems appear and run more easily. Promoting collaborative work at all levels, processes and projects is important to reach adult life as a company. Sharing, collaborating and interacting are three qualities that when developed are transformed into competitive advantages: to anticipate the market, to face the competition and to release the information so that the collaborators involved in each action make good decisions. The business must propose to collaborate with the collective to find outlets and build value for customers and use these interactions as mechanisms of socialization, massification and confrontation of different points of view within the organization. Boosting collaboration – teaching everyone to work and face challenges as a team – is necessary for companies to last over time. This methodology inserts in the team the vocation for collaboration to solve problems easily and obtain collective learning that will produce efficiency, involvement and a general increase in creativity – an aspect that we will address below.

4. Promote creativity and innovation, regardless of the success of the initiatives
It is impossible to grow or sustain a business over time without creativity and innovation . Those two assets are preponderant today to stay in the market.

Companies that inhibit their employees — by giving them freedom of action, monitoring each decision, or emphasizing and punishing when negative results are obtained with initiatives — are doomed to fail. For a business to last, it must promote creativity and innovation, without getting involved in discussions when the results of the ideas that are implemented are not as expected.

It is a utopia to believe that one can live static. It is a huge mistake to depend forever on an initial idea – the idea with which the venture was started. Markets evolve and competitors design plans to neutralize our competitive advantages. Believing that nothing will change with the passage of time is an innocent illusion. This is why it is convenient to open up to creativity and promote innovation, allocating sufficient resources and recognizing the efforts of employees who dare to propose new paths.The only way to keep up with the frenetic pace we live in today is with creativity and innovation. Only when we free ourselves from the fear that failure produces and accept that to survive it is necessary to experiment, we will be taking steps towards the establishment of a company with a future.

5. Instill digital ownership
Digitization is the last thing to last. Today, more than ever, digital transformation is a condition for survival! Taking ownership of digital is an obligation. Only companies that jump into new technologies and tools to improve their processes will be able to advance at the pace demanded by the market. Business leaders must instill digital ownership in their employees. It is necessary for companies to tune into the digital world so that each action undertaken leaves a trace that then allows optimization. Each one of the areas of the organization must internalize this new reality.Now digitizing does not mean automating. Appropriating technology is a powerful path when viewed as a way to enrich the human connection, rather than as a mechanism that leads to depersonalization. The message to last is not to add more machines, but to take advantage of them to connect with the market.

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