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Recent Focus October 2009
 

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4 ways to help make your business great

Most business owners want their company to be successful.  But success comes in many different shapes and sizes, and it doesn’t always mean you’ll have a great business.  If you’re looking for something more than average, a business that’s out of the ordinary– what’s going to make the difference?  What is going to move your business from being average ... to being extraordinary?

There are a number of things that will help you on your way to having a great business.  Here are just four that “great” family businesses appear to have in common.  They may set you on the path to having your own extraordinary business. But beware,  some humdrum commitment to these won’t do the job - you’ll want them to be driving priorities – even passions – if you’re to have a truly “great” business.

Pursue the dream

Make sure you have a dream, or a vision, for your business.  Commit to your vision ardently and enduringly.  Become passionate about doing something important exceptionally well.  Invest deeply in the long run in whatever you need to attain your dream.   Make sure you’re always looking at the big picture so that you don’t get caught in the trap of using short-term tactics .

Unite the team

If you want your business to thrive, you’ll want to be interested in building a cohesive clan-like team.  Make sure your business has strong values and ensure your team unites  around what is important.  Ensure these values prevail and don’t forget to treat your employees.  Pampering your employees will often help elicit loyalty, initiative and collaboration (but don’t pamper them in order to achieve this  ….  pamper them because they are worth it!)  In this kind of culture bureaucratic rules and financial incentives often take second-place.

Build lasting relationships

Many great family businesses appreciate and enjoy lasting, open-ended relationships with business partners, customers and the larger community.  Make sure you are building relationships that will continue long after the original “contract” or “transaction” is done with.

Act and adapt with freedom

One great benefit of being a family owned business is that you are not hampered by the constraints of shareholders.   This gives you the ability to act independently and responsibly.  You can take action quickly, in creative and original ways, to regenerate or adapt your business.

 

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Don’t forget to check out our latest blog posting. We discuss a little question about success and busyness.

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