The Essential Components Of Any Successful Business

We’ve done some research and spoken to some pretty successful business owners, who’ve shared their tips on what makes a successful company.

By
August 23, 2018 16:29
2 minute read.
woman hi tech tel aviv

A woman walks near high-rise buildings in the hi-tech business area of Tel Aviv. (photo credit: REUTERS/AMIR COHEN)

 
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 Each and every business will rely on certain components in order to grow and progress. These elements, when in tandem, will all help to ensure that your business runs smoothly. We’ve done some research and spoken to some pretty successful business owners, who’ve shared their tips on what makes a successful organisation.

Teamwork and Clear Goals

“Teamwork is a vital component of any business. If you can’t work as a team, overcoming obstacles and challenges, your business isn’t going to do very well. No one can do everything by themselves” says Lisa Fitzgerald, Chief Editor at Groom+Style. She also writes that “having clear goals as an organisation is essential for success. An understanding of what the company is aiming for is critical in making long term plans and keeping motivation at a high level”.

Dedication And Honesty

“Tapping into the full potential of any market, niche or otherwise, can be a challenging process. It requires you to stay committed to your goal in order to succeed” writes Patrick, a Director of Marketing. He has also provided us with his opinion on the virtues of honesty. “An honest and transparent organisation is mostly likely to succeed”, he says. “You have to be honest with your customers, your target audience, and most importantly yourself. Lies can and will break a company”.


Preparation, Marketing and Trust

“Don’t ever assume you can go in blind and pull out a win. The companies that will succeed are those who are prepared. Take the time to get to know your target audience. Treat them as if they were an important staff member in the company. It’ll pay off in the long run when you know exactly how to reach them”. These were the words of Matthew Williams, Managing Director at Freerein Riding Holidays. Along with preparation, he also considers marketing to be a core point of focus, saying that “Marketing is such an important part of any business. Without it, how do you expect to communicate your services to the public? A good marketing campaign can make all the difference”.

We were lucky enough to be treated to three pieces of wisdom from Matthew! He went on to talk about how important trust can be. “When you’re working with larger groups of people, trust is essential. You have to trust your staff to get the job done, and to let them work in peace. Productivity will hit the floor if you’re forever breathing down their necks”.

Overall, these are just a few of the components of a successful business based in Israel. They’re all designed to be characteristics you should aspire to. Without one of those components, a business is probably going to be less productive. All of these people are high ranking individuals within their companies, so it’s reasonable to assume that they know what they’re talking about. Does your company have these kinds of traits? If not, perhaps you should look into how you can implement them. Of course, it’s also completely fine if you think a business can be successful by other means, so do what will work for you.

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