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Going from Good to Great

Monday, June 30, 2014
posted by IMT-Webmaster

good-to-greatLike many others, I have long known that business growth goes far beyond simply building a larger customer base and selling more products.  Company owners have to think beyond their bottom lines when striving to attain greater levels of success.  In fact, they have to start rethinking and reshaping their definitions of success overall. If businesses stay solely focused on producing more, selling more and accommodating more needs, quality will invariably decline as will commercial images.

The True Definition Of Success

Success is the ability to have a lasting and positive impact on an industry and to inspire customers, competitors and others within your circle to do things better. Success in any commercial endeavor is comprised of a vast range of company characteristics and attributes but it always includes the following:

  • A willingness and ability to prioritize quality over cost.  This can mean keeping things in-house or paying to outsource to trusted, local suppliers rather than using the lowest overseas bidder.
  • Accountability – Taking total responsibility for all shortcomings and flaws that exist within the business model or a company’s products, irrespective of how vast the supply chain might be.
  • Innovation and Flexibility – Together, these characteristics create a willingness to move away from conformity and often leads to greater levels of efficiency, improved product performance and the ability to meet more consumer needs.
  • Respect – A commitment to valuing all team members and their contributions will pave the way for new innovations in products and how these are manufactured.  Even new entrants to an organization can possess game-changing insights.

Far too many businesses are spending too much time focusing on how they can offload more goods in their efforts to grow and expand their operations.  This way of approaching growth, however, can actually stagnate an organization.  I find that many of the companies that struggle in their efforts to grow, do so simply because they are working far too hard to push their current business models forward, when they should be seeking ways to streamline and enhance their current operations instead.  When the right improvements are made to an organization, growth will be an inherent and hassle-free process, rather than one that requires endless investments and effort and that is likely to result in lost time, resources and opportunities.

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