First and foremost  I value currency to the utmost .

“Do not chase the money chase the vision and the money will follow you.”

Zappos CEO

Every body likes to make a buck or two I get the gist .However When you start a business just to get rich the dice usually do not roll in your favor.

I know that dollar sing is itching your palms .The thought of holding on to it makes you feel powerful.

As long as you have the mindset of a person that is chasing sales you are destined to fail badly.

Some people get so excited about that bankroll that they neglect the fundamentals.

Merchandise does not generate the income .You can create the greatest product in the world but if the market is not large enough where the sales volume are not enough to recoup the cost of research you will be operating at a loss

The other thing you have to consider is your market .

In the midst of it all your customer or potential client is like the bridge between you and the sale.

Without the consumer there is no money to be made .

“Businesses need people”

How do you expect to grow if you do not know or understand the market or the people ?

This is where heavy research comes into play. Before you launch a product or business make sure that you do your homework.

You can pick a niche that is saturated leaving you with a big fight on your hands with competitors.

Or you can niche down,target a more specific audience with in that same category.

When you niche down What you are ultimately doing is servicing a customer base that is largely vacant.

So you have this big open run way which allows you to have breathing room because you are in a promising new industry .

So this brings me to my next point.You have to be customer centric .

Instead of starting a company to rake in millions build an establishment that is customer centered.

This is the way you bring value.

Remember that Humans have a tendency to buy because they want ,like,trust .

Think of the reasons why you buy.

Some people buy for comfort,some people buy for luxury,some people buy just to stay up with the trends.

Buying gives you a sense of security ,the feeling that you get when you purchase something is one to talk about for the ages.

So buying is a psychological and physical thing.

If you are going to build a sustainable institution you have to stop thinking one-dimensional ,there is much more to it than selling.

Look at Amazons growth .Jeff Bezzo’s took clear advantage of the big open run way that he had.

The Amazon teams main priority was and still is faster delivery and cheaper services.

Money is not the main priority.The Focus was and still is on service .

Make the customer your priority so that you can build good will.

You earn goodwill when you consistently deliver value to the market place .

This could mean compromising for late delivery with a steep discount or special deal.

“Like Warren Buffet says you have to woo your audience.”

Think of ways to do things better and different from the competition.

This is where you as an owner is going to separate from the rest of the pack.

Increase the value that you put out in return you get to increase your top and bottom line .

Take into consideration ways in which you can manage your capital better.

Find unique ways to boost profit margins without raising prices or paying below average wages.

Installing cost saving equipment,working out deals with suppliers for raw materials so that you can have more leverage between development ,production and marketing.

There are several ways to innovate to stand out as a business .

But for the time being you should pick and choose metrics that incorporate growth and your customers.

Employees are very important in the running of any institution .

This is an area that you must grab a hold of if you are going to create something phenomenal.

All staff members should be treated with the same level of respect .

Workers should be compensated based off of performance .

As controlling family members of the organization you need to be forthcoming with outside stock holders.

Which means

No awarding of stock option from what an unbiased outsider will consider to be a reward beyond the performance of work performed.

This also means no placing family members on the payroll with salaries above what is justified based on performance.

No authorization of vendors to be selling through brokerage firms for personal gain of friends and family.

10 dynamic corporate principles

Coordination

Leading management must be able to organize the talent with in your establishment to work as a cohesive unit.

Communicate openly

I know that no one really likes to report bad news however It is your duty to be cordial with staff and investors.

Do not hide or withhold information when things are going bad. That is a bad sign.

Organize a team

You need a good team around you other wise you will not be able to keep up with the demand of growth.The task would just be too great.

Cost and accounting controls

You should know the cost across the board as it relates to one product to the other.If you do not know… how are you going to decipher which products need further sales and promotion ?Furthermore you can have a wonderful new product operating at a loss which is a drain on profit margins.

Good labor and personnel relationships

Any business that has a high turner over rate and allows labor disputes to go on for long periods of time is not the best company to invest money into.

Think about it.Put yourself in the other persons shoes.

So take that into consideration when you are running your corporation.

Litigation and disputes can mount up sharply and quickly if they aren’t rectified.

A good sales organization

Knowing how to sell is equally as important as everything else that we have discussed.I mean you can make a nice one time profit off of a product because it is in demand or because of price increases.

Those are just temporary fixes.

You need to incorporate content distribution into the equation

Video

Podcast

Groups

Forums

Or you can show up like Oreo did during the Superbowl commercial. Anyhow that is another discussion.

Make sure you hire competent management

You do not need a person with a high IQ to make the cut.

What you need is a dedicated team with a basic understanding of capital management.

Choose growth

I know the temptation to resist the urge of trying to bring every dollar to the bottom line and into your pockets.

If you’re looking to achieve maximum growth ,you had better invest a big chunk of that profit back into research and development.

In other words curtail immediate profits to speed up the growth cycle .

Empathy

I know that I talked about this earlier however I want to delve into it a little bit deeper.

This is one of the most underappreciated ways of capturing customers.

The ability to listen first before you ask for the sale

So you build up tension and break down their resistance .It is called reverse engineering .

So what you are doing here is building up a relationship which can help you to retain a life time customer.

Innovative

Large well run establishments like apple are very innovative .They are constantly searching and finding ways to exploit growth.

Mistakes will be made along the way.

Patterns

Having Trade marks ,patterns gives you advantages in  a few ways.

Remember that having a pattern on a design is one thing but having protection preventing others from making it the same way is another.

Patterns allow you to make a product easier and at a cheaper price depending on the situation.

They do not block all the possible ways in which your competitor can make the same product.

So do not depend on it solely because trade marks are not infinite .What happens when that pattern is no longer there and that profit drops ?

Willpower

Do you and the rest of the management team have the willpower to develop new products and process when currently existing ones have largely been exploited ?

Do you have the products and services to increase sizable sales for years to come ?

You have to dig deep  .

Reward employees

Do not bypass employees for the sake of it . Do not take advantage of them.reward them based on performance.

Give them their sick pay and vacation days too.

The more you respect and cherish your employees the more productivity you will get out of them.

If you try to extort them I can assure you it will back fire on you.

Do not just build and hope

Build

Measure

Learn

The lean start-up approach is a good methodology to use.The lean startup approach  is the best way  to minimize wasting time,money ,resources.

Do not punch above your weight

There are going to be key positions that you need to be filled during the early stages of the process.

This is where you have to put your thinking cap on .You can hire outside expertise in the Philippines or another country ,maybe in house or your local  town at minimum cost to handle certain task while you build and measure.

Doing things this way is likely to be more budget friendly.

Remember that you need to manage your capital responsibly.

I would suggest that you get the approval of your products and services in your area before you go global.

Once you can get people believing and using your merchandise in your area you have a good foundation.

Take note that relationships are the key to success.

Therefore your reputation is on the line.Now this is nothing to panic about however you must ensure that you set the tone with high good ethics.

What are your observations about corporate structures ?

What do you see that is lacking or causing many corporations to crumble ?

Let your voice be heard !

Shout out to me loud and clear in the comment section below.

Now before I go let me conclude.Oh…..one more thing .If you are interested in reading a few business books that helped me to prophesy this message send me an email [email protected]

Check me out on Twitter @chicagoleakers

Conclusion

We live in a free trade world despite the fact that utilities and indursnce industries are regulated .

But Over a long period of years American businesses have been highly profitable .

But hey big profits attract competition so here again you need strengths to stay ahead of the pack.

Learn from the success and failures from other giants .

Check out why apple is the leader in the tech.

All of the above can be accomplished with discipline and knowing how to organize the various scientific resources to bring forth economically worth while products and services.

The way we communicate is changed.The Where and how as to why we buy has changed too.

Now for a bonus tip

Pay attention to the trends .You must keep an eye out so that you can adjust before a competitor does.

In other words study the populations buying habits.

Technology is advancing and people are much more savvy spenders .Some of them are willing to save a buck while in other situations they would pay premium prices for luxury and comfort.

In order to run a sustainable corporation you must be nimble sharp ,a quick thinker willing to make mistakes.

Mistakes are apart of growth,even the most skilled investors ,large well entrenched organizations make mistakes.

So do not get upset when you fail .Some failures are expensive but hey that is the price you pay for success.

There is no escaping this reality.

You are built to withstand the pressures of life  so Stand strong, Lead and build up those around you

Team work makes the dream work.

Put trust in your employees

Delegate task evenly amongst your membership. Show them that you have faith in their abilities.

Be blessed email me [email protected]