When in business, it’s important to take a look at how other businesses around you are operating to get a full picture of how to progress forward. You can learn from other people’s mistakes; not necessarily as an individual, but as a whole company. The teamwork that goes into each decision can determine whether it’s successful or not, but this is something that needs time to develop. If you don’t have the right people, it’s not a recipe for progression.
Magpie – Not Just A Bird
It’s okay to take ideas and make them your own. That’s how you will be able to climb your way up the ladder. You don’t have to reinvent the wheel if it’s already there in front of you. There are clear plans on how to succeed in business, that only get developed upon when a new piece of technology comes in or there is a fluctuation in management styles (which happens every couple of years, just like how certain pieces of clothing go in and out of fashion). Look towards people who have influenced you up until now, but also don’t be afraid to look past these influences and venture somewhere you’ve never thought to go before. Ask people who are i a similar line of work for their recommendations on who they look up to and why.
Look At History
History often repeats itself, but there are times when it can throw the fish completely out of the water – especially when you’re talking about business. Lloyds Banking boss António Horta Osório is currently a great example of this; showing that despite poor results the year before, a company’s profits can come bouncing back better than ever. This isn’t so much something that can be calculated in a lot of instances; you obviously need to ensure that you are doing something that’s beneficial to your company, and as such having the most financially-minded people involved in your plans, but a lot of it depends on the luck of the market at the time. This is something that cannot be predicted.
Invest In Your Staff
The more time and patience that you invest in your staff, the more willing they will be to give something back. This can only mean good things when you’re talking in financial terms; a happy workforce is one that is more determined to see your business succeed rather than be ran into the ground. Spend time developing the skills that you need to see them progress with to move on further in their career. Don’t think about what they could take with them to a new job; you need to ensure that you are putting their interests within your own company at the forefront of your mind rather than letting it wander elsewhere. The more that you restrict their skills with this fear instilled, the more you are stunting the growth of your own business rather than anybody else’s. It is this way of thinking that will really help you to flourish in whatever you want to achieve.