Your Business Objective is what your Promise to Customer

Your Business Objective is what your Promise to Customer
Your Business Objective is what your Promise to Customer

Every organization would create, communicate and live in an objective firmly grounded in its customers. Business will survive when they meet some set of customer needs, they should deliver what they have promised.

Business succeed and grow when their objectives are defined in such a way that it should connect to their employees work.

Business leaders have more responsibility in this matter, they should clearly communicate why the organization exists, what value it is going to create and who the target audience, for employees to find , understand and reference at work.

You can consider the following points, while evaluating your organization is giving reasons for its existence.

Our stated objectives are relevant to the potential buyers and whether it is adding any value to their lives in one or the other way.

Whether our objectives are new or unique and will it upgrade the lifestyle of the society with our presence.

Whether we are the rightful owner of our objective? Whether we have the ability to grow with this objective in the future.

We need to consider, whether our objectives focuses on building relationships deeply rooted in trust and ability. It made an explicit choice to go beyond selling products and offer solutions to customers, thereby carving out a valuable and unique position.

This meant not only matching competitors abilities to provide and service large equipment but adding practice management software and Digital technologies that help clients improve their operations.

Additionally, practitioners on equipment financing, marketing and communications tools, regulatory compliance and other matters.

Clearly articulating your objective is only the beginning, of course. A great purpose statement is of limited use and might be counterproductive if your organization cannot execute on it.

Employees who see a powerful objective statement but face organizational roadblocks will be unable to achieve the priorities you’ve laid out. When that happens, your objective statement will only generate frustration and decrease motivation among your workforce. And your customer will ultimately take notice.

You’ll need the right people, in the right holes, to achieve your organizational goals and competitive distinctiveness. Current modes of talent development often aspire to build greatness everywhere.

Also take into account the key technologies you use, your people must mesh with your information and operating systems.

Once you have the right people with the right skills, you should configure your organization to allow them to accomplish everything your objective demands.

Nearly every important initiative, whether it’s revenue growth, cost reduction or new product innovations, requires insights and actions from across the organization.

Nothing is more demotivating for employees than working on something that has been identified as critical but is not receiving adequate time, attention or funding.

Just as acquiring the right talent involves difficult choices, budgeting for purpose means making hard decisions about allocations.

Strong leaders personify their organization’s purpose every day through their words and actions, whether that involves communicating priorities to the workforce or visibly spending time with employees and customers.

The clearer you can be about what value your company creates and for whom, the greater your ability to inspire your workers.

Objective is the key to motivation and motivated employees are the key to realizing your objective. Get this symbiotic relationship right, and your organization will thrive.

Company of One: Business Growth

Company of One: Business Growth

It’s assumed that hard work and smart thinking always result in business growth. But the opposite is often true, not all growth is beneficial, and some growth can actually reduce your autonomy.

In truth, embracing growth appears to be the easier route more often than not, since it’s easier to throw ‘more’ at any problem that might pop up.

Want more customers? Hire more employees. Need more revenue? Spend more. Fielding more support requests? Build a bigger support team. But scaling up might not be the best or smartest solution to the basic problem.

As a means to generating higher profits, what if you acquired more customers simply by creating more efficiency, so you didn’t have to hire more people?

What if you responded to the growth in support requests by finding a better way to teach your customers how to use what you sell, so they didn’t have to ask questions as often?

What if you didn’t have to work more hours to finish a project but just more efficiently, so you could then enjoy more of your life away from work?

Growth, in the typical business sense, isn’t always a smart strategy if it’s followed blindly. Much of the research suggested that blind growth is the main cause of business problems.

It can leave you with an unmaintainable costs, and more work than hours in a day. It can force you to lay off employees, sell your company at a less than optimal price, or even worse, close up shop completely.

What if you worked instead towards growing smaller, smarter, more efficient and more resilient?

Staying small doesn’t have to be a stepping stone to something else, or the result of a business failure-rather, it can be an end goal or a smart long-term strategy.

The point of being a company of one is to become better in ways that don’t incur the typical setbacks of growth.

You can scale up revenue, enjoyment, and experiences while resisting the urge to blindly scale up employee payroll, expenses, and street levels. This approach builds both a profit buffer for your company to weather markets and a personal buffer to help you thrive even in times of hardship.

The ‘company of one’ approach doesn’t apply only to a single-person business-it’s a model for using the power of you to be more self-reliant and more responsible for your own career path.

Although a company of one can certainly be a small or single-person business, it’s unlike most small businesses, whose end game is usually expansion or growth to hit peak profitability. A company of one questions growth and stays small on purpose.

A company of one isn’t simply a practicing freelancer either. While freelancing is a perfect first step to becoming a company of one, freelancers are different because they exchange time for money.

Whether they’re getting paid by the hour or by deliverable, if they’re not working, they’re not getting paid. All of a freelancer’s relationships are one-to-one, meaning that each time paid work occurs, a freelancer has to do something and use his or her time.

In contrasts, a company of one is more in line with the traditional definition of an entrepreneur. If you’re utilizing systems, automation, process to build a long-term business, you’re not trading time for money, but instead operating and profiting outside of the time you spend working and beyond your one-to-one relationships.

For example, whether you’re creating physical products, selling software, or teaching online courses, customers and users can purchase and consume these products and services without your company of one putting in time for each transaction.

While developing products can be time-consuming and iterative, the number of customers can be almost infinite for a company of one, and profit then happens outside of time spent.

Where a company of one is concerned, as we’ll see in coming chapters, scaling customers and even profit doesn’t always require scaling employees or resources exponentially.

A company of one is a collective mind-set and model that can be used by anyone, from a small business owner to a corporate leader, to take ownership and responsibility for what they do to become a valuable asset in any marketplace- in terms of both mental practices and business applications.

It’s a blueprint for growing a lean and agile business that can survive every type of economic climate, and ultimately it leads to a richer and more meaningful life-no cable-cutting or moving to the woods on an island required.

The ‘company of one’ model can be laid out in a unique fashion: ‘start small, define growth, and keep learning’.