In the world of business, there are so many things we consider business friendly that aren't and until we learn to separate what truly matters in business from what doesn't, the win will never be achieved.
I have spent more than 2 decades in business and every single day in these very long period, I have learnt something very valuable lessons that states that, "business must be handled like business and treated that way."
The mindset.
A business man should never forget that he is in business for profitability and growth and he must take them both very seriously.
Working your business is not supposed to be handled with laziness and fear but with strength and courage.
When you know why you are in business, it is pretty simple to understand the sacrifices to make.
Profitability and Growth.
In business, you must never forget that, you should and must be profitable.
A business that isn't striving for profitability will soon close shop and become "bankrupt".
Profitability.- Business is an art and not something done out of just passion.
It is okay to have passion for what you are doing but that passion must be matched with dogged determination to succeed and make the passion the goldmine.
An unprofitable business is a falling business and when this becomes that reality, the whole purpose of doing that business is defeated.
You must first start out to be profitable before you arrive to grow. Too many people make the mistake of overlooking profit and embracing growth.
You cannot be valuable without value and no matter how many times you shout your worth, the world will wait to see the act rather than hear the words.
Growth.- You absolutely are meant to grow in business. With profitability comes the need to grow beyond where you are.
A business making so much in profits must start thinking into expansion and really expanding.
Expansion doesn't necessarily mean you have to open 10 shops in a week. Your expansion can be based on workforce, amenities, security and education.
For many businesses, their first thought when they hear expansion is to open new outlets while they forget to improve on existing standards or practices.
The growth aspect of a business is dependent on what the business offers and what they look to be in the future.
Stepping out to learn.
Many business owners fail to learn their trade and hence they end up becoming obsolete and without form.
You should make part of your growth to be about learning the latest trends as it affects your line of business and make sure to apply them I to your day to day affairs.
Business is hard and risky, but it takes only the determined and dutiful to make it become what many envy and pray to be a part of.
Go for profitability and growth in your business. If your business isn't about these two, then you probably are not in business.
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Hello @kingst
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I think it is only wise to adequately differentiate effectively between a profit making business and charity organization, this is the only way to grow. The moment you bring charity into your business, you loose the primary goal of the business which is making profit and you eventually have to watch it collapse .
The above words resonate quite strongly for obvious reasons. Most times business people assume that expansion means opening new outlets yet improve on what is on ground is much more important for a successful business. As for the other tips, I find them excellent and worthwhile. Cheers!
Making profit should always be the driving force of every enterprise
Growth and profit are the main purpose of any business but when the right attitude is not being channelled to the business, failure becomes the end game.
Business must be treating seriously and orderly else it would shut down.