{"id":768,"date":"2010-09-24T09:27:27","date_gmt":"2010-09-24T09:27:27","guid":{"rendered":"http:\/\/www.planetofsuccess.com\/blog\/?p=768"},"modified":"2020-02-10T18:52:34","modified_gmt":"2020-02-10T18:52:34","slug":"characteristics-of-a-successful-business","status":"publish","type":"post","link":"https:\/\/www.planetofsuccess.com\/blog\/characteristics-of-a-successful-business\/","title":{"rendered":"Characteristics of a Successful Business"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"color: #000000;\">By illustrating the characteristics of a successful business we can learn identify some of the most important keys for business success. <\/span><\/p>\n<p style=\"text-align: justify;\"><!--more--><span style=\"color: #000000;\">Being able to learn from the best means to learn how to become one of the best! In the following I will show you business fundamentals that will help you to distinguish between a regular company and an excellent company.<\/span><\/p>\n<blockquote style=\"text-align: justify;\"><p><em><span style=\"color: #000000;\">A <span style=\"color: #800000;\">good company<\/span> delivers its products and offers customer service.<\/span><\/em><\/p><\/blockquote>\n<blockquote style=\"text-align: justify;\"><p><em><span style=\"color: #000000;\"><span style=\"color: #800000;\">Excellent companies<\/span> are <strong>dedicated to a vision<\/strong>; a greater good if you so want; and <strong>delivers products that offer additional value <\/strong>to their customers, who are the utmost important part of the whole company as it would not exist without them.<\/span><\/em><\/p><\/blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">First of we should split this project into two parts, the first part involves the characteristics of business owners, the second part is about the characteristics that the whole organization has got:<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><span style=\"color: #800000;\">1. Characteristics of a successful business owner\/entrepreneur<\/span><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>Pure Passion<\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>A successful business owner loves what he is doing to earn a living<\/strong>. It is not uncommon that successful entrepreneurs do really enjoy what they are doing; often they simply turned their hobby into a full time job. Their pleasure will spread to his colleagues and employees and create a joyful work climate.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>Responsibility<\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Some of the most successful sport-coaches were those that were able to remove the high pressure from outside which was lasting on the shoulders of their team by undertaking the full responsibility. A famous example for this is <em>Jos\u00e9 Mourinho<\/em> (football coach of Real Madrid) who <strong>releases his players from all the pressure that comes from the outside<\/strong>. This allows his players to work concentrated and focus all their attention on their tasks. Mourinho&#8217;s concept seems to pay off as he was able to win the Champions League title with FC Porto and with Inter Milan.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>Courage<\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Successful entrepreneurs or business owners are the ones that had the courage to go one step further than their competitors. They don&#8217;t let themselves getting limited from barriers or obstacles but try to push and expand the limits.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">&nbsp;<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><span style=\"color: #800000;\">2. Characteristics of a successful business\/corporation<\/span><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>Offers its clients\/customers an additional value<\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">The iPod\u00ae has not achieved cult status because it is an excellent mp3-player. It became popular because <strong>it offered additional value to its buyers<\/strong>, such as ease of handling and being a luxurious lifestyle object, even though its price was twice as high as the one of a regular mp3-player. A company that is able to offer its customers additional values that their competitors cannot offer has found a unique selling proposition, which makes them successful! Therefore it is an objective of every successful business to deliver their customers not only value for their money, but also something special (additional value) that none of their competitors has to offer!<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>There is no stagnation!<\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Another<strong><span style=\"color: #800000;\"> characteristic of a successful business<\/span><\/strong> is that it will always try to expand their product range and advance their services (e.g. account management) or products in any kind of way. One thing that a successful business does not: <span style=\"text-decoration: underline;\">resting on their laurels<\/span>. If it is a larger company it also will devote some of its resources into new innovations.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>Being sensibly financed <\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Having a decent mixture of debt and equity is an important factor for the decision-making ability of the company. The more debts the more persons will have influences on the decisions that are being made within a business.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>Costumer friendliness<\/strong><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Successful businesses are those that are very close to their customers and clients; take their problems, necessities and considerations serious and constantly try to advance their costumer friendliness in general. If their costumers develop new needs they will be ready to please these accordingly.<\/span><\/p>\n<figure id=\"attachment_3905\" aria-describedby=\"caption-attachment-3905\" style=\"width: 350px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-3905 \" title=\"Being successful with your business\" src=\"https:\/\/www.planetofsuccess.com\/blog\/wp-content\/uploads\/2010\/09\/business-success1.jpg\" alt=\"Success\" width=\"350\" height=\"265\" srcset=\"https:\/\/www.planetofsuccess.com\/blog\/wp-content\/uploads\/2010\/09\/business-success1.jpg 350w, https:\/\/www.planetofsuccess.com\/blog\/wp-content\/uploads\/2010\/09\/business-success1-300x227.jpg 300w\" sizes=\"(max-width: 350px) 100vw, 350px\" \/><figcaption id=\"caption-attachment-3905\" class=\"wp-caption-text\">Achieving business success<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">Start to incorporate those above listed business fundamentals and characteristics of a successful business that you seem to fit for your own business and develop your company to a more successful one that gains new customers day after day.<\/span><\/p>\n<p>Photo by <a href=\"http:\/\/www.flickr.com\/photos\/amagill\/3366720659\/\" rel=\"nofollow\">AMagiII<\/a><\/p>\n<p>What do you think are the characteristics of a successful business?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By illustrating the characteristics of a successful business we can learn identify some of the most important keys for business success.<\/p>\n","protected":false},"author":1,"featured_media":3905,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[555],"tags":[367,347,607,346],"class_list":{"0":"post-768","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-management-skills","8":"tag-business-success-2","9":"tag-business-success-tips","10":"tag-characteristics-of-a-successful-business","11":"tag-keys-to-business-success"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Characteristics of a Successful Business<\/title>\n<meta name=\"description\" content=\"The following characteristics of a successful business are essential when it comes to making the difference between a good company and an excellent one!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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