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5 THINGS THAT SUCCESSFUL COMPANIES HAVE IN COMMON

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5 THINGS THAT SUCCESSFUL COMPANIES HAVE IN COMMON

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After reviewing several blogs to know what things have in common those companies that have managed to succeed, we have selected 5 which are generally those in which the authors agree and in which focus can be key to any business.
1. Give great importance to the vision
While it is normal for the vast majority of businesses to have their vision defined, just as it is with the mission and values, what may not be so normal is that these things are clear to everyone and even less so than most people do. within the organization are aware of its importance and also live and breathe in the day to day.

Unlike what happens with many businesses, those who manage to succeed generally know that unless they give enough importance to the vision and have it clear, they can end up being prey to the worries and urgencies that day-to-day life brings. thus in a completely opposite direction to the one in this one. Therefore, in order to avoid this, it is necessary for companies to set short, medium and long term objectives that help them to realize their vision and establish indicators that help them to evaluate at all times the effectiveness of their strategies. to know if they are really going on the road and in the right direction.

2. The founders are passionate about the industry and have an important knowledge of it
In addition to the knowledge in administrative and accounting issues which of course are important, the founders of successful companies have generally been people who before starting up their businesses already had an important knowledge about the industry in which they were going to venture, apart from feeling for her a great passion. This allows them, especially in the most difficult and critical moments of an enterprise, to keep the motivation up when others easily fail, as well as to avoid that due to ignoring or ignoring certain aspects of the industry, or not to investigate or update it. sufficient in aspects related to this, is unknown how to respond to different situations and challenges that may occur at any given time

3. They have a good differential
Or what is the same: they solve something better than the competition. Additionally, what they do best know how to communicate it, is valued by clients to the point that they are willing to pay more versus other options, and build their positioning around that. These are aspects that are part of the three characteristics that every good differential must have .

4. They adapt to change and take risks
Even when clinging to the known and those things that work and give results seem to be the easiest and most comfortable, the companies that have succeeded know that taking this position is not always what is best (especially if over time that takes to create resistance to change), nor what better results can bring. In a time when consumer habits, ways to reach people and technology are constantly changing, betting on change and leaving the comfort zone, even if it can be risky, is necessary for any company (especially if they want to go ahead of others and not be left behind, let alone become obsolete).

5. They have well-defined processes
On several occasions, many things do not work in companies as they should simply because beyond some basic instructions on what employees should do, there are no well-documented processes to guide them in carrying out the different tasks and activities that should lead finished.

As a result of the above, both the way things are done and the results obtained can vary from one person to another and be lacking in consistency as activities depend to a large extent on the way in which each individual deals with them. of the own considerations that each one has in relation to them. In this way in order to obtain more predictable and consistent results, as well as to minimize the likelihood of mistakes being made and leave the smallest possible number of things at random or to the consideration of each person, creating well-structured and defined processes for the different areas and charges is essential.

Bonus: They have an organizational culture (also well defined)
As with the processes, having a well-defined organizational culture helps to create a strong identity among employees and reinforce the link between them, while sharing aspects related to the philosophy, values, mission and vision of the company, and Above all it is verified that the profile of the candidates fits within the same in the selection processes. In this way, the more affinity there is between the profile of the employees and the culture of the company, the greater the likelihood that they will “wear the shirt” of the company and feel comfortable in carrying out their tasks (something to which a pleasant working space and in good conditions is also key).

Another important question that must be taken into account in relation to this is that a well-defined organizational culture not only helps to attract the right kind of employees; it also helps attract the right type of customer (the one who identifies with the values ​​of the company).

In conclusion

While there is no magic formula for a business to grow and consolidate in the market, the fact that these focus on some aspects shared by successful companies such as those we have just named, can certainly help them achieve it. What other aspects do you consider successful companies share?

Note:

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