Grow your Business
Introduction: Seven Business Practices That Are Keys to Success
Not one of the original 12 members of the Dow when it launched on May 26, 1896, are still on the Dow Jones Industrial Average. General Electric, the last original member, lost their position in 2018. A recent study by McKinsey found that the average lifespan of...
Summary: Seven Vital Business Practices That Underlie Success in Business
We have completed our journey through the seven vital business practices that can help you achieve sustainable and enduring success. Define a Mission and Vision. Establish a competitive advantage, or a “Reason to Be”. Develop an effective Organizational Plan and...
Business Practice 1: Mastering the Art of Mission and Vision
In this first article, we unravel the cornerstone of business success - the Mission and Vision. These two elements, when skillfully crafted and efficiently implemented, can transform your organization's trajectory, propelling you towards lasting success. To put it...
Business Practice 2: Unleashing Competitive Advantage: Discovering Your Business’s ‘Reason To Be’
In our journey of outlining the seven key prerequisites for success in business, we have already discussed the critical role a well-defined Mission and Vision plays. Following that, the next logical step is to identify your organization's "Reason To Be" - the unique...
Business Practice 3: Structuring for Success: The Power of Effective Organizational Planning
Business success is an intricate mosaic of various elements working harmoniously towards a common goal. So far in our series of articles, we've discussed the importance of defining a mission and vision, and establishing a unique competitive advantage. Following these...
Business Practice 4: Building a Team: Assembling Your Business’s Backbone
In our ongoing exploration of the seven criteria for business success, we've examined how the right vision, competitive advantage, and organizational plan can lay a strong foundation. It's time now to turn our attention to one of the most crucial components that...
Business Practice 5: Strategic and Tactical Plans: The Compass and Map of Your Business Journey
In the epic saga of business success, a clear and decisive strategy is the North Star guiding your ship through the vast and often tumultuous sea of industry. However, just as a captain needs both a distant star and an accurate map to navigate, so too must a business...
Business Practice 6: Performance Objectives: The Lighthouse Amidst the Business Waves
In the journey of business success, it's not enough to simply have a destination in mind or a roadmap to follow. You also need a way to measure your progress, to know if you're moving closer to your goals or if you've gone off course. This brings us to the sixth...
Business Practice 7: Embrace Change: The Linchpin of Long-term Business Success
As we conclude this series on the key principles for achieving enduring success in business, let's focus on what might be the most critical and challenging of them all - embracing change. The voyage to business success is not a straight path. It's a winding road...