Wednesday, May 1, 2019

Is Your Company Doing The Right Thing?

Every company needs to generate sales to earn money. Sadly, businesses today do make efforts to be innovative. Every new business has the identical or copy-paste methods when it comes to product development. Rarely, a business cares for innovative approach.
I have seen entrepreneurs breaking their skulls to prepare a perfect business plan or preparing forecasts, everything, every process is so standardized that it becomes difficult to differentiate one business from other. The pain staking process of developing a killer marketing strategy, or developing a futuristic product does not guarantee success. In Fact, 80% of small business fails because they are too obsessed with the processes that they tend to ignore the customer, the core of the business.
The surprising fact is that despite such failure rate, our entrepreneurs fail to learn, fail to recognize that each process of the organization must be geared towards customer. Every department, from production to sales must be driven by zeal to excel in customer satisfaction. Unless, companies wake up to this fact, the business ventures will continue to fail.
Each business is different; each business has different needs, and requires different strategies. A business cannot replicate success simply by using the same set of tools that made one company successful. The business environment is all about uncertainty, and a set of tools or strategies cannot ensure success for business.  An entrepreneur must be willing to take calculated risks, to walk on uncharted territory, he must be willing to experiment, only then a business can be assured of success.
Today companies rush to generate sales, without establishing an identity, and this approach eventually results in disaster. While sales are needed, they are not the end to the means. The only thing that matters is customer.

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