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Important lessons from big businesses that have been around for a long time now

By Walson

You know, anyone looking for information on business success has to read so many articles and books with all sorts of titles. The issue is, most of the ideas in these books and articles are far from dynamic and because they have been passed down from decade to decade, most of them hardly seem to work anymore. Times change and while many business are having a hard time adjusting to the changes that come along, others have been around for such a long time, most people cant remember when they started. Yet these same businesses keep prospering and have succeeded in staying at the lead through many years. I think it will be wise to look into such business for once and learn from them what really keeps them around for as long as they have been existing. I think it is better to learn from what the leading business are practicing than from reading the random ideas of several people which for the most part are conflicting and confusing. You may have wondered why brands like Google, Coca-cola and a host of others have been around since you were born and are clearly getting better in their various industries. The secrets of business success seems to be something every business man knows but that is not the case.

Never loose touch or value for customers

Big successful businesses that have been around for a long time keep having more customers but what they never do is take any customer for granted. For them, each customer that makes up the whole is just as important as the entire group, no matter how many they are. This is one of the most important secrets of business success and even taking advantage of business opportunities will require a business that values customers and can take advantage of such business opportunities to meet their needs. Sometimes, it becomes difficult for businesses to keep valuing their customers when they increase above a certain number of people. The false sense of achievement breeds conceit and causes the said business to loose site of its responsibilities towards customers. The effect is, before you know it, those customers who were once regarded and treated as kings realize that the same business they have been so committed to for years and which has actually shown interest in them for all time.

Big businesses that have attained and still maintain their success have their customers at heart and do everything within their power to ensure that those customers know that the business values them and their satisfaction. The most important way big businesses achieve this is by keeping in touch with them, creating avenues through which the business or company can relate with its customers. Creating Websites, mail, and other forums through which customers can get in touch with the company is a great way to make a a good impression on your customers and show them that you value their opinions and are willing to look into their complaints. Of course smaller businesses too do this, yours might be into it already, but the question is, when the business expands beyond a city, country or continent and gains customers from all over the world, are you still going to value each of them like you do now? To whom much is given, much is expected. It gets stunningly challenging to deal with a large number of customers but it is still a necessity and one of the most important lessons every business man or woman should learn from those that have been around for a long time now.

Always about meeting needs

There is or should always be a reason why anyone get into business or for which any business starts. Those big businesses that have been around for a long time now are focused on one thing consistently, and that is meeting needs. Out of personal need or a desire to be rich, some businesses are started without the intention of meeting needs as the main drive behind the entire ordeal. Of course businesses ought to be profitable and profit making is important for any business, unless you are running a non profit organization. However, maximizing profits should never be the main aim of the establishment or running of any business. Businesses that make it their focus and priority to make profit will find themselves making some terrible mistakes which will cost the business its customers. And without customers, the business is not going to make any profit at all.

Successful big businesses have learnt with time to keep the main thing the main thing – meeting needs and solving the problems customers have. They also make it their aim to do this more effectively as time passes. This is one of the most effective secrets of business success and will help every serious company maximize business opportunities.

Generally, we only spend money on certain goods and services because they either meet a need or solve a particular problem we have. Apart from that, there would be no reason why we spend money on the things we do. There is not enough money to waste, at least for most people. So everything that people buy ought to meet their needs or solve their problems as effectively as possible. The problem is, when a business focuses on making profits and ignores the satisfaction of its customers, its not going to be long until customers begin looking for another business that can meet their needs better. Focusing on maximizing profits makes it difficult for the business to put as mush effort and resources as it should into innovations that make its products and services better.

Big businesses are not always about money making

The previous point brings us to this. Big businesses are not only about making money but doing so through the honor and fulfillment of having customers who are satisfied with its products and services. Sometimes they have to make some sacrifices that are necessary for the business to break through certain levels to the next. It could be putting prices that allow little or no profits to be made at certain periods of the business’ life span. Such moves are usually taken when for example the business introduces a new product its customers are not familiar with. The idea then is not to make as much profits as possible but to give customers the chance to have an experience with the goods and services and then decide if they are interested in using it for a long time. Any business that makes profit maximisation its main objective will miss out on some important business opportunities that may be vital to its move into the next level.

They Know the importance of a business NAME

There is no successful big business without a name that is well known around the world. The names of these businesses are just as successful as the businesses themselves. But you should know that when a business gets to certain hieghts of success, the name goes before its goods and services to announce it. People sometimes first get to know the business name before coming in contact with any of its products or services. The name of a business, just like humans represents some very important aspects.

First the name of a business is its identity. That identity is the first connection between the business and those who will come in contact with it. This means the business name must stand out. Success makes a name, but don’t forget that the name also enhances success.

Secondly the name of any business is strongly related to its reputation and we all know how important reputation is to a business. If you seek to grow and get to certain heights, you should ask yourself frequently what your business name represents to other people. When people hear or call the name of your business, what do they relate it with? Does it bring memories of quality or is it a name people hardly want to hear because of the bad experiences they have with the business’ products and services? The reputation of any business is what determines to some degree how long it is going to stay. It is also important to know that the business reputation is not built in a day. It takes time, effort and more diligence than most business men and women are willing to put in. No one is going to build a reputation for their business another way and there is no short cut. Though we live in a smart age and it seems everything can be achieved if one has the right amount of money to put in, it is really not that easy. Social media platforms for example seem to be an easy way for businesses to become popular and make a name these days. In reality, social media, though a powerful tool only allows businesses to expose themselves to the world and to potential customers. Making a name that will mean something in the long run or that can even help the business grow to desired heights will require more than social media exposure to attain. Reputation is built by staying committed to certain standards and meeting those standards against all odds.

A name or reputation is not propagated by the business but by those who make use of the business’ products and services. It is the experience your customers have with the goods and services of your company and what they say to others about it that truly matters. Focus on building a good reputation and your customers would definitely talk about your business to others at every chance they get. Remember advertisement by personal testimonies may not reach as many people as a normal television ad will but it will surely be more effective at getting others to join your brand than anything else. Samsung, Apple, Range rover, Rolex, Nike, Puma and all the big names in various industries have a great number of their customers from their reputation rather than just running ads. It is one of the most important reasons why these businesses do not play around with the quality they deliver over the years. At every point in time, the drive and motivation is to keep quality at its best.

Have an outstanding structure based on merit, service and loyalty

In many companies and business structures around the world, these virtues are no longer honored and rewarded as should be the case. However, big businesses understand the importance of upholding these things and do so every chance they get. Such businesses have a clearly defined structure that keeps it runnig smoothly for as long as they have been existing.

Lets begin with business structure and its importance to the smooth functioning of every business. Big businesses run with a concise structure that enables smooth functioning of the entire business through effective communication and relationship between workers. This structure is to them one of the most important secrets of business success. It should serve as an advice for small business owners.

This structure also has to do with the company’s hiring policies. Those who own and run large businesses have friends, family members and other close people who may want to fill certain positions in the business. Some of them even have certificates to back them. However, every big business owner knows that a great company does not make hiring decisions based on relationship they have with someone. They don’t hire anyone as a favor or to help them. That the wrong mindset that brings some businesses down in the long run. Every single employee must be hired on the basis of merit according to the business’ policies. Even promotions are done on the basis of an employee’s services to the company and his or her loyalty. These last two are very important and if they are not taken seriously, the business will get to a certain point and either crumble or become stagnant. Big businesses are careful about their employment and promotion policies and this helps them ensure that the right people get into the business and those who merit it get to levels of control and authority. Placing someone who is not even loyal at a certain level of leadership is a simply way of preparing for disaster in the future.

They are Not broken by failure

If you plan to stay around for as long as some of these big businesses have been around and attain the level of success they have, you should know that mistakes are going to be made. This should serve as an important advice for small business owners. Mistakes are made at different levels and those mistakes sometimes have serious impact on the business. However, it takes determination, a strong will and commitment to go beyond failure in any area. If failure easily defeats the business team, then it will hardly see business opportunities for what they are.

If every business failure threatens your will or determination to go on, you must be careful not to give up. It gets really difficult sometimes but the difficulty is there to differentiate those who will successful businesses from unsuccessful ones. It is your WILL to succeed that matter, your wishes and desires do not count or matter if they are not backed by a will.

Once you have set the course for your business and know what its purpose is, as well as what it takes to meet the needs of your customers, you must be determined to never give up because of failure. Life is not fair. Get over it and move on. Your business proposals may be rejected sometimes, you may not always have enough funding and of course some people from whom you may have been expecting help or approval are going to turn you down. It takes one who is willing to succeed and get to desired heights to see opportunities in these obstacles and go on when ordinary people give up. The determination of those who own and run big successful businesses is absolute. Your must be so if you are going to get to where they are.

They look for opportunities in problems, not excuses

Most people don’t get to certain levels in building their businesses because of excuses. The funny thing is, we all have excuses that could be made for our shortcomings. However no one ever rose higher by making excuses. They are a sign of defeat and cowardice. Sometimes, excuses are a sign of laziness or lack of the will to make it in business. It is commonly said that the person who really want to get something done will find a hundred ways to do it. But the person who does not really want results will find a hundred excuses to give. Big businesses don’t make excuses. They find solutions to problems. If something goes wrong, they step up to the occasion ans fix it. Theirs is a league of determination.

Big businesses focus on their strengths and eliminate their weaknesses. Sometimes, it is tempting to work hard at your weaknesses instead of putting in maximum effort and resources into building on your strengths. Another advice for small business owners who look forward to a great and firm future for the business is to focus on strengths and know that when a business successfully builds on its strengths, its weaknesses will be dealt with.

Always motivated to reach out for more

Growth means reaching out for more no matter how much you already have. It means getting better no matter how good you already are. One of the things big businesses have in common is their determination to make it beyond their present achievements. The business world is changing every day. It is remarkable to know that businesses and companies are always coming up with better version of their goods and services. Part of the reason why this happens is that they are forced into innovation. Competition is fierce and customers are very demanding. More so they are always looking out for where they are going to get better. Every successful business must keep a firm motivation to become better in every aspect. Just a little change in the style and functions of an android phone for example makes all the difference. In the the mobile phone industry especially, a business cannot grow beyond certain heights if it does not have the willingness and determination to put in whatever is requires to get better. No one has time for old stuff. Consistently improving is what takes businesses to the top and is what helps them stay there. So the issue of keeping your motivation to get better and have more customers join and stay with your business as well as meet their needs is going to be around for as long as the business runs because it is one of the most important secrets of business success. A quick advice for small business owners here. Keep your your motivations to accomplish more and you will do just that.

Wise planning makes successful businesses

The biggest businesses are most often the best at planning. Like every other thing, proper planning prevents poor performance. The heights any business can reach is dependent on the company’s ability to plan properly. Everything has to be planned. From the time a business idea is conceived, plans have to be made in order for that conception to take effect.

There are long and short term plans. The business has to settle on these plans and set a time frame for those plans to be carried out. A mobile guru like Samsung goes usually has a new version of their favorite S series before releasing one into the market. This means by the time S5 was released in 2014, s6 was not just a concept but it was already being realized. This keeps loyal customers connected as every innovation they may seek from some other brand will be added to the new one that has to be made. It serves to keep customers as the business resists its competitors.

It is possible to build a successful business. Every small business can, grow to maximum capacity. While yours may not be designed to become known around the world, it can thrive within its boundaries and become the envy of others. The last advice for small business owners is that they stay positive and believe. It is possible.

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