Attributes of a Successful Business

Attributes of a Successful Business

Every business is different. Nobody can isolate the magic ingredient that makes money. 

However, there are a handful of attributes that can be found in all great companies – you’ll need each one to edge out the competition.

Ambitious Ideas

It all starts with one idea, big or small, to get the ball rolling in business. Ignore the doubters and pursue your dream, whatever it may be.

“If we tried to think of a good idea, the good idea wouldn’t have come to us. That’s a law of nature. The key is to find the solution for an everyday problem in your own life.” – Brian Chesky, Co-Founder of Airbnb

“You won’t have that million-dollar idea appear before your eyes out of the blue. Start with a passion project and devote time and energy to building, creating, designing – whatever you like to do. The winning business plan will take form over time.” – James Ville, Chief Product Officer at GunSkins

“There is so much power in a single idea, it can’t be underestimated. All the great inventors and writers came up with a vision in their minds before they put pen to paper. The imagination is where it all starts, and that’s the real secret to every successful business venture.” – Jordan Duran, Founder and Designer at 6 ICE

“A successful business is about a lot more than dollars and cents. For me, it’s really in the strength of your mission and your team. When employees are truly invested in what they are doing — believe in it and enjoy it — productivity is unparalleled. I believe a company isn’t truly successful without a happy, engaged team. When you see a company is truly thriving, you know there is an involved, efficient team in the background, making the magic happen on a regular basis.” – Marc Atiyeh, CEO of Pawp

Strong Culture and Community

A business may survive without a strong sense of culture, but it certainly won’t thrive or reach its full potential. How does company culture come to be, and how can it be improved?

“At the heart of every great company is a culture that stands the test of time. These are the businesses that everybody wants to work for, regardless of the pressure or how many hours are expected of them each week. The culture overrides everything else and keeps the core strong.” – William Schumacher, CEO of Uprising Food

“The culture of a company isn’t something you can quantify or show on a chart. It’s the intangible qualities that keep teams together and working hard through difficult deadlines and obstacles. There’s no way to outsource culture or throw money to improve it. Culture and community both need to be earned.” – Kelli Lane, CMO of Genexa

“Don’t put your focus on numbers. Focus on doing what matters most and what you do best. It’s about building a community and inspiring people every day. They support you because you create value and offer expertise.” – Cassey Ho, Founder of Blogilates.com

“People often misunderstand culture. They think it’s about perks and snacks and other peripheral stuff that doesn’t really matter. What actually matters is the community you build through hard work and creative problem-solving. That’s the real meaning of business culture that you can’t achieve without trial, error, and effort.” – Jeff Meeks, VP of Sales and Marketing at EnergyFit

Customer Satisfaction First

The customer may not always be right, but they deserve the best treatment and service 100% of the time. Here are some keys to customer satisfaction and loyalty.

“When you make the customer the highest priority, it’s astounding how quickly everything else falls into place. Products, services, marketing, even background stuff like admin and accounting – you’re in easy mode when you put the customer first.” – Ashwin Sokke, Co-Founder of WOW Skin Science

“It doesn’t matter whether you’re a coffee shop on the corner or a massive conglomerate with billions flowing each quarter. The customer is at the center of it all.” – Max Greenberg, Co-Founder and CEO of Stoggles

“Ask yourself each day – how can we make the customer experience better? You’ve got feedback flowing through dozens of different channels online and in-person, so use the data available to make the improvements and don’t delay.” – Lori Price, Co-Founder of PixieLane

Long-Term Resilience and Vision

The world’s greatest businesses have a game plan for 10, 20, even 100 years into the future. Be prepared for the long road ahead and outmaneuver the competition.

“It’s not enough to follow the same game plan each quarter and expect more results. You’ve got to evolve with the times, whether that’s expanding, streamlining, scaling – just don’t stagnate. Keep pushing the potential of your business and you’ll stay in the game.” – Raul Porto, Owner and President of Porto’s Bakery

“The second you accept the status quo is when you start to slip in business. It sounds harsh but it’s true – I’ve seen plenty of companies decline because they stop pushing forward. Be like a shark and never stop swimming.” – Aidan Cole, CEO of HIDE

“Your business plan should flow and evolve with the times. Set new goals each day, each week, each month, each quarter. Be ambitious with your targets. Even if you don’t hit the mark every time, you’ll have the mindset required to stay sharp and keep growing.” – James Sun, Founder of Beautytap

“Your competitors are working around the clock to get your customers – don’t forget that. Embrace the competitive spirit and don’t be discouraged by small setbacks. The point is that you keep building and improving your foundations, because in the long run, you can’t lose.” – Jared Zabaldo, Founder of USAMM

Are you ready to create the world’s next great business? You’ve got the tools and building blocks right here, so roll up your sleeves and get started right away.

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