Decisions, decisions, decisions . . . . .
I was browsing through an article the other day, which got me thinking about what are some of the key drivers in business. And, whilst there may be hundreds of these at different levels, basically there are only a handful that are fundamental.
For some people, the sole purpose of going into business is to make a maximum profit in as short a time as possible - full stop (or as our American friends say “period”). Now you know, and I know, that really is not the way to develop a business.
First and foremost, always, is the service we provide.
And by ‘service’ I mean the provision and delivery of the ‘benefit’ (whether that be goods, professional services or whatever) to our customer, client or patient. It must exceed their expectations, and be at a price where the perception of value is optimised. ie your wouldn’t want to give your partner (and I’m being politically correct now) a ‘cheap’ diamond as a present, would you?
Profit, clearly, is ‘a consequence’ of what the business does – it is not an activity in its own right.
Provide an outstanding and dazzling service (the activity), and the profit (the consequence) will swell your coffers – do it badly or allow your standards drop (the activity) and your customers will quickly desert you and leave you to die (the consequence).
But that doesn’t mean you must sacrifice your profit, because, without profit your business will also die.
Profit is critical to the very survival of any and every business. It is the investors’ return on capital, it is the lifeblood of re-investment and it is the working capital needed for sustained growth. Without it, the business will not survive.
Therein lies the role of the ‘decision maker’
An entrepreneur is a person who organises, operates, and assumes the risk for a business venture.
But ‘being an entrepreneur’ is not, of its own right, a qualification for success.
The well known business guru, Peter Drücker once said “Whenever you see a successful business, someone once made a courageous decision.”
And therein, perhaps is THE key driver – not just in business, but in life too. This is why so few people actually achieve and succeed – because there needs to be a courageous decision . . . . that they didn’t make. And the courage part of the decision is not what the decision is about, but the ‘action’ and ‘consequences’ of making the decision.
Where are you right now?
If you are NOT where you want to be, in your life or your business, then the chances are that you haven’t made enough (or any) of the necessary courageous decisions. And I underline the word ‘YOU’ because, if that is the case, then all the strategies and theories in the world won’t help you – because only YOU . . . . and YOU alone . . . . can change your future.
Now, go make some courageous decisions - the smart way!
Richard C
