Traits of a Successful Business

Jan 23, 2009

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In business there are several things that must happen in order for the business to be successful. Here are some traits of successful businesses and why they continue to increase their sales and have higher conversions.

  1. Successful businesses do the same things as other businesses, they just do it better. In all of business there are several places that a customer can buy products or services. It is not like their is only one store or business in the world that sells paint, furniture, light bulbs, web design, seo, or any other type of product or service. A customer in this day and age can shop around find the best company they feel is giving them the better value. As a business you want to focus on whatever you do and improve to do it a little better each and every day. Whatever your strengths are should continually be the focus on improving more and more. In this section of business it is all about execution. Just as in sports where teams know what the other team is going to do, the successful teams just do a better job at execution.
  2. Successful businesses focus on improving value. Customers always want to feel they are getting the best deal. That means they know what they think should be fair market value and want to leave purchasing something that they made a smart decision. Businesses that focus on relaying the value of their products and services will see an increase of sales and referrals as the customers want to share that they received a good value to their friends.
  3. Successful businesses do not make mistakes. While it is true that it is said that everyone makes mistakes, if you want to be a successful business you must minimize the mistakes down even so much that they are a fluke if they happen. In today’s world no matter who you talk to they will tell you something that went wrong. The human race is always interested in what is going wrong and the news industry knows this, thus you will see they report more mistakes of people than their successes. If you want to be a successful business in the eyes of the people then you must focus on not making mistakes.
  4. Successful businesses focus on improving repeat business. No matter what type of business you are in or what type of products and services you offer having repeat business is the most powerful sale you can have. It is much easier to sell something to a person or another business if they have already given you money once for something. Improving what you offer to these people who have bought from you on a continual basis is critical. Most importantly the repeat customers want to feel even more special than if they are a first time customer. They like to receive discounts because they have been a customer of your business for awhile. Treat your existing customers with respect and make them feel special to where they demand to want to continually purchase your products and services.
  5. Successful businesses have perfect customer service. It does not matter if you do everything else right if your customer service is not up to par and what customers feel it should be. Customers like to feel treated fairly and that is the mission of customer service. If you want to run a successful business then you need to have excellent customer service.

All of these traits are things that must be continually improved on a daily occasion for any business. The business world is fastly changing and it is no longer a time when big corporations are getting all of the customers with the advancement of the internet and the ability for individuals to start their own business and market their services to the world through the power of the internet.

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