The Secret to a Successful Business



Business services in Boracay

What is the secret to a successful business? The secret is to serve in the right order. This means, to succeed in business, you need to serve your business stakeholders in the proper order. Business stakeholders are persons, groups, systems or organization who can be affected by your business actions. They include your customers, suppliers, creditors, employees, the Government, environment, investors, business partners, and yourself as the business owner. Many businessmen become unsuccessful in their entrepreneurship because of incorrect order of serving those parties. Most of them have tasted temporary success, but eventually failed because they have served their selves first before the others.

You should serve your stakeholders in an order of priority. Thus, you should categorize them as follows: those who are outside of your organization, those who are outside of yourself, and lastly – yourself. Stakeholders who are outside of your organization such as your customers, the government, environment, suppliers and your creditors, should be prioritized first. This means, you should focus on: providing quality and satisfying products and services to your customers; duly paying your obligations to the government, your creditors and suppliers; and protecting our environment. Your second priority should be the stakeholders inside your organization but outside of yourself. They include your employees, business partners and investors. Accordingly, you should prioritize the development of your employees and preserve your good relationship with your investors and business partners. After you have effectively and efficiently serve them all, you can now focus on yourself.

If you want to become a business leader, you should become a humble servant. Remember that your customers are the breath of your sales and your workers are the breath of your productions. They are the lifeblood of your business. Therefore, you must humbly serve them before yourself. Try it!

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2 Comments

  1. Good management is the success key of every business. Without proper coordinate you can not utilize properly your man power as well as your money power. Utilizing power at a maximum level then business is come up.

    I am a management student I like to read stuff about management. Very nice post,

  2. Successful business owners and entrepreneurs are those who are self-oriented – those who are selfless. With that attitude they can easily become customer oriented, as well as people oriented.

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