Every businessman must put on a lot of hats, that is, deal with a constant bombardment of problems. Chances are that daily tasks and priorities are a mess that changes as new obligations arise.
To succeed in what you propose, you must adapt quickly to less important changes , but you must also have a clear vision of your goal, which serves as a basis for making daily decisions. If you do not adhere to your priorities, your entire strategy runs the risk of falling apart. These “golden” priorities should become your business foundation.
Innovation should become your number one priority. This quality is the one that has more weight in the beginning of your business career, during the phase of brainstorming and planning.
The vanguard must be at the forefront of all your business development; without it, there is nothing that distinguishes you from competing companies. Innovation does not imply creating a completely new idea; It may mean taking an old model and updating it for a new environment, or combining two previously independent ideas.
Innovation must take precedence over convenience as said by Thierry Levasseur Vancouver. If you can choose between abandoning what makes you unique or moving forward by taking a greater risk, go for the risk.
Many entrepreneurs enter the game with monetary objectives, and there is nothing wrong with that. But, on the way, some lose sight of the importance of making a profit in order to grow their business. They are the ones who channel all their income towards the purchase of new equipment or the hiring of personnel, focusing on growth instead of sustainability. In some cases, this bet may work but it’s usually a bad business strategy.
Even if you started your business for non-monetary reasons, profitability remains vitally important; without profit, you will be unable to improve the business, maintain yourself or invest in your own future. Choosing to have losses in the short term could be a necessary sacrifice, but in a broader perspective, you should never stop focusing on profitability if you want to succeed.
The culture of your business is what will keep your team working hard. If it starts to decline, even if it is in favor of promising opportunities, you could alienate your core work force and end up with a discouraged crew that will not do its best to boost your business.
Let’s say you get a new client and you’re worried about how you’ll manage the work. Establishing a series of cultural changes, such as a stricter work schedule or more bureaucratic processes, will damage the morale of your company rather than make the processes more efficient. Think carefully about the cultural impact of your actions.
Last but not least, improvement should also be one of your top priorities as done by Thierry Levasseur. Businesses, customers and economies never stay the same for long, so you will need to work hard to adapt your company gradually to the new conditions.
As you gain more experience as an entrepreneur, you will learn to make significant and constant improvements in your products, services, infrastructure, processes, brand positioning and marketing strategy. Only those who know how to adapt survive a landscape in constant evolution.