Key elements of business success
There’s huge variety in what businesses need to do to stay successful. Luckily, there’s a lot of information and business support out there to help. So what are the key elements of success that business owners and directors need to focus on?
Jacqueline Day, Business Adviser from Velocity Growth Hub tells us about what advice businesses seek most from her.
“Successful growth is obviously dependent on a combination of many things but having that real vision and belief is one of the fundamental areas where I see business owners often struggle” Jacqueline says. As a business adviser, coaching people and helping to reinvigorate their belief in their business and in their decision-making is a big part of the relationship Jacqueline has with her clients.
“80% of business success is psychology, 20% is from having the right business processes. With the right commitment, passion and belief you will bring the rewards to your business as, the rest will follow.”
“The second most important thing is having the right business model.” This will include, for example, clearly setting out your target audiences, customer profiling, through to understanding how you will bring in your revenue streams. Defining, or refining, your business model is critical.
“When you have these two foundations in place, then, focus on the third area: which is, being very targeted in your marketing. Use your business model and the right marketing channel to communicate your business offer and benefits effectively. Businesses need to constantly test, make improvements in their products or services, and innovate where necessary, to meet your customers or clients expectations.” Jacqueline adds.
“Running your own business is challenging however, by taking some time out to focus on the key elements of your success will deliver results.” Jacqueline stresses.
Jacqueline will be delivering her next Modelling Success for your Business Masterclass on 26-27 April 2018, 9.30am-5pm at The Holiday Inn, Milton Keynes East, Newport Pagnell, MK16 0JA. This will include ‘Advanced Success Strategies’. You can register for this via https://www.velocitygrowthhub.com/modelling-success-business-masterclass/
There is a lot of business information and support services out there. This is where Velocity Growth Hub – as the first stop shop for business support – can help. Our business advisers are on hand to provide one-to-one advice and can put you in touch with any specialist support you may need to get you on track for successful growth.
The Growth Hub offer a wide range of workshops that run throughout the year and are free to qualifying businesses who want to grow. Want to know more? Visit www.velocitygrowthhub.com.
Velocity Growth Hub is part-funded by European Regional Development Fund.