Tag: Management

Why You Should Focus On Your Business Growth

by Bright Osadiaye, posted in Improve Academy, Leadership, Management, Motivational Quotes, Personal Development

‘Your business is a living organism.’ If you want it to thrive, you must take care of it.

According to Kevin Cope, ‘Companies either continue to grow or risk dying. Companies growing profitably tend to be more energized, innovate products and services, expand market share, attract motivated top talent.’

‘Companies not growing can enter a ‘downward decline and die.’ cycle of higher costs, lower sales, lost market share, lower share price, cost cutting, reduction in force, demoralized employees, lost productivity. lost customers, more loss market share, and so on. The competition will take over their markets, customers, brand positioning, and even their best people.’

‘Organic growth means internal expansion- opening new stores, selling more products, and entering new demographic or geographic markets. Inorganic growth means merging with acquiring new business to increase revenue.’

‘Growth expectations may change based on a company’s stage of development. High growth may be realistic in the early years but may be less sustainable as the company matures and becomes larger and more complex.’

‘Risks of high growth include expenses that grow faster than sales revenue, a decline in quality, and burnout among employees. Many companies grow sales rapidly but lose money and go out of business.’

‘People are the most important resource for any company. Employees and customers are two important stakeholders to your business.’

‘Successful companies usually have a history of strong employee satisfaction and longer employee tenure, so companies work hard to keep employees satisfied and to attract top talent.’

‘Your customers are the lifeblood of your business. You should focus on your customers more than on your competitors.’

‘Employees can improve asset ultilization by eliminating inefficient or nonproductive assets, getting more productivity from existing assets, making business processess more efficient, and by working to use personal time more effectively.’

‘The productivity of employees reflects how much work employees can accomplishand is often affected by the tools and technology they have and the training and education they receive.’

‘Employees can impact asset strength by doing anything that benefits cash position.’

‘Investors evaluate the worth of companies in large measure by their potential to consistently increase profits from their core business over time.’

‘Cash is the fuel of business. All companies require cash to operate, pay bills, and invest for the future. Lack of cash is a primary reason businesses fail.’

Finally, ‘Everything you do to impact cash, profits, and assets influences your balance sheet.’

Source:

Kevin Cope (2012). Seeing the Big Picture: Business Acumen to Build Your Credibility, Career, and Company

10 Things Successful People Do

by Bright Osadiaye, posted in Leadership, Management, Workplace Learning

Successful people don’t get successful by accident. They know what the rest of us don’t know. And they do more for other people than they do for themselves. If you want to be successful, don’t talk about it, just get to work.

According to Polina Marinova Pompliano, ‘Pursue a purpose larger than yourself- find a shared vision.’ If you want to be successful, do not focus on yourself. Do more for other people than you do for yourself. Because what you do for others will come back to you.

‘Make sure you ask yourself: Who wrote the software running in your head?’ Because ‘it’s easy to find a bunch of stuff installed that shouldn’t really be there.’

You must ‘take an honest look at the content you consume on a daily basis. What do you read? What do you watch? What do you listen to? Who do you hang out with?’

Do not do what other people are doing. That is not where success comes from. If you want to see success in your life, you need to beat your own path. ‘Go off the old beaten path and consume unfashionable things or you’ll end up thinking the same way as everyone else.’

Do your own thinking. Because that is what is going to make you succeed. If you do not have the courage to think for yourself, you will end up like other people.

Doing your own thinking is good. But is not enough to get you to your own finish line. ‘In order to understand who you are, you must first understand who you are not.’ And you ‘must embody the version of yourself you want to be; behave like you’re that person already. If you believe, you become.’

The question is, ‘Do you believe in yourself?’ If you do not believe in yourself, you are not going to succeed. To succeed in life, you must be proud of who you are.

You must believe in your dreams. You must bet on yourself. Because ‘all successful people bet on themselves. And there is no bad time to start doing that. Create something that lets you tie your identity to something that actually matters- your own name. Nothing is more liberating, or more powerful.’

Ask yourself: ‘Who is the person living my dream life?’ Do not just ask, but act on it. If you are not going to act, to take action, then nothing is going to change.

Do not let fear stop you from living your life. Because it is the reason most people are where they are. If you want to conquer the world, you must first conquer your fear. You must ‘take lots of small risks regularly rather than huge ones rarely.’ Because ‘it’s a more antifragile way to make progress.’

Finally, if you want to be successful, you must ‘stress-test yourself through regular manufactured hardships.’

‘Remember that victimhood is always optional.’ And ‘avoid listening to yourself. Start talking to yourself.’

As always, you are not less; you are more!

Source:

Polina Marinanova Marinova Pompliano (2023). Hidden Genius: The secret ways of thinking that power the world’s most successful people