Key Elements of Business Success

There are four key elements or best practices that contribute to the success of a startup or growing organization.

• First, a startup or new business needs a core management with the skills and experience to drive the organization and overcome obstacles and challenges.

• Second, a clear vision that is shared in the organization by key management and employees is needed. A clear vision is needed of where the organization is going and what is planned to be accomplished.

• Third the core management driving the organization must possess strong motivation and passion to lead the organization. They must believe their work is more than simply creating a job.

• Fourth, the business must have a clear value proposition. What value does the product or service provided by the business bring to the marketplace? How does the business differentiate its product or service in the marketplace?

Motivation and Passion

Motivation and passion are needed in the core management leading the organization, because all organizations will:

1. Experience tough times and crisis;
2. Encounter stiff competition;
3. Run into unanticipated hurdles and challenges that will cause significant organizational and personnel stresses; and
4. Cycles of growing pains will occur that require significant organizational and personnel changes and growth to move to the next level of business maturity.

When these events occur it will take the motivation and passion of the core management to provide the leadership, perseverance and creativity to move forward.

Supplementing the Founder's Strengths and Weaknesses

No one person in an organization has the skills, experience and excels at all the functions necessary to drive a business in a competitive environment:

1. 1) Production and quality control,
2. 2) Sales and marketing,
3. 3) Finance and accounting,
4. 4) Administration and
5. 5) Leadership

Therefore, the person or persons that founded the business needs to identify their strengths and recruit, promote and/or train additional team members with the skills and experiences needed in those function areas identified with weaknesses.

Resources

List of Books from John Sund - this section under construction

Author

The author of this article is John Sund.