As an owner, you can easily get caught up in the daily operations of running a business. Three years into your business and you are solid in your expectations and routine, but have you considered if your routine includes these three key people?
Understanding how these three people work and function in your business is key to being successful.
Whether a large or small company, every business owner knows that they belong to their customers. Customers are what make the business grow, develop, innovate, and ultimately survive. With today’s technology and businesses on every corner offering an array of goods, being able to provide what customers are searching for is becoming a battle of lowest price and availability. Not being able to compete with large companies, smaller companies have started customizing products, services, and solutions. Customers find loyalty and return again and again when they feel they can get something that is uniquely theirs. When you customize, you can also charge higher prices than you would have previously charged for a generic product or service.
Vendors represent companies that supply us with a product or a service. Many times businesses are outsourcing work to other vendors and selling the entire package or end product to the customer. In a previous world, money and product were the only things exchanged between businesses and vendors. Today, vendors and businesses need to work seamlessly together to provide a greater experience to the customer with few to no problems. This increases the amount of information and relationships between the vendor and the business.
In the past, we expected employees to be loyal to companies. Now we are finding that employees are loyal to the mangers and leaders directly over them. Many employees want to feel as though the company they work for is loyal to them because they desire a feel of job security. As the owner, your job then becomes finding ways to support your employees and make them feel as though their partnership with you will make everyone successful.