Self-Evident Truths of Business Growth (Part 2)

By Amy J. Malay, Director, Administrative Services

Constant Improvement. Improvements to products, customer service and operational systems should be never-ending. Businesses can practice existing methods and get better at them. There may also be ways to do things more quickly and less expensively. As Benjamin Franklin once said, “When you are finished changing, you’re finished!”

Customer-centricity. The common phrase “The customer is always right” is accurate on many levels. The customer truly is more important than the product being produced. Business owners and employees should listen to customer needs, and take action to ensure that those needs are being met. A company could make the best widget in the world, but if the customers don’t want widgets, then the effort to produce them is in vain.

High Employee Engagement. Does the company strive to hire and retain employees who care about the business and customers like the owners do? Employees like this are one of a business’s greatest assets. Often, the benefit to developing employees and helping them achieve their goals will far outweigh any cost involved.

Take a few minutes to rate your business on a scale of 1 to 10 in these five areas of focus. A good score in these areas is a foundation for business growth.

Read more as this blog series continues (Parts 1, 3, and 4).

This article draws on research found in Growth Is the Dynamic Confluence of Strategy, Entrepreneurship and Values by Edward D. Hess, published by the University of Virginia Darden School Foundation.

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