7 Pillars of Business Success – Part 2

Last week we began to talk about the 7 Pillars of Business success; if you missed part 1 – click here to go read it
 
In today’s article, we are going to talk about the second pillar – “The Business Process”
 
Before we continue with the article, here is a quick reminder:
 
If you are interested in information and internet marketing business, but you missed the opportunity to get the Process DVD last week, here is one last chance to get the Process DVD and to Join the N950daily business – once again. The opportunity is open from Monday to Thursday this week only – Click here – Process DVD and the N950daily business.

If you also missed out on Joining the importers buyers forum and the  travel business partnership, we are honoring the numerous requests we have received from our readers by opening up these four programs from Today until Thursday 12th February. For Import Buyers Forum – click here and for Travel Business Partnership – click here.
 
After deciding on a successful product in business, the next thing you want to get right is your Business Process. What do I mean?
 
Your business process is otherwise known as your business method, this is a collection activities or tasks that starts from idea conception to production and delivery of your service or product into the hands of your customers.
 
Every tiny little bit of work from idea conception to product / service fulfilment is your business process. And you need to get it right. If your process is faulty, business will be stressful and it can ultimately lead to losses or even complete shut down.
 
Take for example, someone who wants to open an online shopping store to sell cosmetics. There is a lot involved in the business process. First you’ll have to know about cosmetics, the one suitable for your customers (black, white, Africans, Indians or Chinese?).
 
You’ll have to know where to source or produce, then you’ll have to know how you want your website to work, do you want customers to be able to pay online, if they pay online do you want them to provide delivery address, emails, phone number? How will customers feel about dropping their personal details on your website and how do you plan to deal with it?
 
What of product delivery? How do you plan to get your cosmetics to a buyer in Kano state within 24hours when you are based in Lagos, without sacrificing your profits?
 
All these business processes need to be figured out and organized in such a way as to ensure business profits.
 
Some entrepreneurs have great start up ideas, in fact, many people start right, they spend lots of money to set up shop and then suddenly after 12 months, they are struggling, they can’t pay rent (online or offline – your online rent is your annual web hosting fees) and then before you know it – the business is no more!
 
One reason businesses fail is because the business owners fail to learn and implement what they need to know about the processes required to keep their business profitable.
 
Another example worth sharing is from our very own ServiceForts. Early in the business, we discovered that 24/7 access to the internet and light (NEPA) was a major requirement for the business to succeed. So we decided within the second week of being in business to invest in the best internet of that time and an inverter.
 
We did this because, we would resume work at 8am in the morning, and Nepa would not supply light until 6pm when we were about to close from work. Working hours was rendered useless because we had no access to our computers.
 
We discovered if we didn’t do something fast, we’ll be telling customers stories every time they called for product delivery (i.e. fulfilment of our promises) which would lead to dis-agreements and tension, plus our rent was ebbing away and if we didn’t get business done at a profit before rent expires, we won’t be able to pay for the rent in the next year. So we had to act – FAST.
 
This was way back in 2006/2007 where having private access to the internet and inverters were considered luxuries and were pretty expensive. But it was a vital part of our business process which needed to be in place, else our business would have been extinct within months of take-off.
 
Every business has its own set of processes, technicalities and vital activities from conception right unto the point of getting the goods/services into the hands of its customers.
 
The duty of you the entrepreneur is to set up business process that ensures consistency in the delivery of your business promises to your customers. Once your processes are in sync with your promises to your customers, you have set up shop for a successful and profitable business.
 
Now that you have identified your product / services, and you have set up business processes that would enable you deliver on your promises to your clients, the next pillar of business success you should be mindful of is - “Your Cash Flow”
 
We’ll talk about your cash flow in the next post – keep a date next week Monday.
 
Don’t forget: I’d really like to get to know you; my readers, it may be impossible to meet every body, on a one-on-one basis, but at least you can introduce your-self here below,
 
1.     Your real Name
2.     What you do
3.     How did you find businessforts
4.     Why do you read our emails or articles
5.     Has any of our products (ebooks, CDs, Seminars) helped you in the past? If yes, how?
6.     How can we be of service to you and your business goals this year?
 
There is a surprise down-loadable FREE gift worth $97 for everyone who submits genuine and well thought out answers to the above questions.
 
If you have not already done so in Part 1 of this articleSimply copy the questions, paste them in the comment box below and type in your answers
 
See you in Part 3.
 
Cheers!

Comments

  1. 1. Your real Name-Dung Christopher Peter.
    2. What you do-I am a Driller.
    3. How did you find businessforts-Through SuccessDigest News paper.
    4. Why do you read our emails or
    articles-To get materials on how to start and run a business.
    5. Has any of our products (ebooks,
    CDs, Seminars) helped you in the
    past? If yes, how?-Not yet,but it will in time to come.
    6. How can we be of service to you
    and your business goals this year?-Nothing for now.

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